Growth Metrics

American Public Education (APEI) Cost of Revenue (2016 - 2025)

American Public Education has reported Cost of Revenue over the past 17 years, most recently at $190.6 million for Q4 2025.

  • Quarterly results put Cost of Revenue at $190.6 million for Q4 2025, up 300.17% from a year ago — trailing twelve months through Dec 2025 was $297.0 million (up 533.32% YoY), and the annual figure for FY2025 was $297.0 million, up 130.59%.
  • Cost of Revenue for Q4 2025 was $190.6 million at American Public Education, up from $36.1 million in the prior quarter.
  • Over the last five years, Cost of Revenue for APEI hit a ceiling of $190.6 million in Q4 2025 and a floor of -$95.2 million in Q4 2024.
  • Median Cost of Revenue over the past 5 years was $35.5 million (2022), compared with a mean of $40.4 million.
  • Biggest five-year swings in Cost of Revenue: skyrocketed 472.82% in 2021 and later plummeted 222.36% in 2023.
  • American Public Education's Cost of Revenue stood at $67.4 million in 2021, then grew by 8.17% to $72.9 million in 2022, then plummeted by 222.36% to -$89.2 million in 2023, then decreased by 6.81% to -$95.2 million in 2024, then surged by 300.17% to $190.6 million in 2025.
  • The last three reported values for Cost of Revenue were $190.6 million (Q4 2025), $36.1 million (Q3 2025), and $35.0 million (Q2 2025) per Business Quant data.