American Public Education, Inc. (NASDAQ:APEI) Q1 2024 Earnings Call Transcript

Angela Selden: And those amounts carried from 2021 and 2022. They’re not amounts getting generated now, right?

Rick Sunderland: No, no. We’re collecting at the current — billings which is reflective of the system working but there is still some cleanup to do and we’re diligently working to clean those up with the Army right there still engaged directly with the relevant parties that army that collect those older amounts.

Raj Sharma: That’s great color. Thank you. And just lastly on grad school I know it’s a much smaller business and any sort of color on why the margins were slightly worse year-on-year due to a reduction in revenues any sort of plans or and just some color?

Angela Selden: Sure. So grad school as we reported I think in our last earnings call had been affected by the government’s continuing resolution or the fact that the budget had not been passed in many of the agencies who use there government funding for training dollars had to pause their training. We are now that we’re out from underneath that and there is a renewed focus from that team on both individual registrations by individual federal workers as well as group training that is now getting scheduled. So there is a significant push to close that gap between now and the end of the year. And the entire both graduate school and API team are leaning in to do what we can do to close that gap in revenue for the remainder of the year.

Raj Sharma: Great. Thank you. Thank you for answering my questions. Again congratulations on raising the guidance and the beat rate. I’ll take it offline. Thank you.

Angela Selden: Thank you very much, Raj.

Rick Sunderland: Thanks, Raj.

Operator: There are no further questions at this time. Thank you everyone for your participation. This concludes today’s conference call. You may now disconnect.