American Public Education (APEI) Q2 FY26 earnings call

American Public Education delivered a strong second quarter, exceeding guidance for revenue and adjusted EBITDA, driven by robust Health+ enrollment and Military+ margin expansion. The company completed its institutional combination, simplifying its business and lifting prior growth restrictions, while also announcing a new AI-enabled student lifecycle platform. Management raised full-year guidance, confident in its strategic framework and continued execution despite active duty headwinds.