| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| RU Segment | 89.5 | | | | | | | |
| HCN Segment | 45.8 | 36.1 | 29.5 | | | | | |
| APUS Segment | 283.7 | 285.9 | 257.1 | | | | | |
| Total revenues [+] | 418.8 | 321.8 | 286.3 | 297.7 | 299.2 | 0.7 | 327.9 | 350.0 |
| Services | | | | | | | 327.9 | 350.0 |
| Revenue growth [+] | 30.1% | 12.4% | -3.8% | -0.5% | 42467.3% | -99.8% | -6.3% | 6.2% |
| HCN Segment | 26.9% | 22.4% | | | | | | |
| APUS Segment | -0.8% | 11.2% | | | | | | |
| American Public Education Segment | | | | -2.0% | | | -7.0% | -1.8% |
| Cost of goods sold | 172.6 | 122.2 | 111.9 | 115.3 | 116.2 | 117.0 | 118.8 | 123.8 |
| Gross profit | 246.2 | 199.6 | 174.4 | 182.4 | 183.1 | -116.3 | 209.1 | 226.3 |
| Gross margin | 58.8% | 62.0% | 60.9% | 61.3% | 61.2% | -16544.8% | 63.8% | 64.6% |
| Selling, general and administrative [+] | 196.7 | 161.0 | 138.1 | 131.5 | 127.4 | 127.8 | 135.4 | 144.2 |
| Sales and marketing | 93.3 | 73.0 | 60.0 | 57.0 | 58.3 | 59.1 | 62.4 | 69.2 |
| General and administrative | 103.4 | 88.0 | 78.1 | 74.5 | 69.0 | 68.7 | 73.0 | 75.0 |
| Equity in earnings | 0.8 | 0.0 | -1.5 | -0.5 | | 0.7 | 0.1 | -0.2 |
| Other operating expenses | 1.3 | 0.9 | 0.6 | 0.9 | 2.1 | -306.5 | 0.8 | 0.1 |
| EBITDA [+] | 49.0 | 37.7 | 34.2 | 49.5 | 53.6 | 63.1 | 72.9 | 81.8 |
| EBITDA growth | 29.9% | 10.3% | -30.9% | -7.7% | -15.0% | -13.4% | -10.9% | 1.1% |
| EBITDA margin | 11.7% | 11.7% | 12.0% | 16.6% | 17.9% | 8975.5% | 22.2% | 23.4% |
| Depreciation and amortization | 17.8 | 13.0 | 15.6 | 17.5 | 18.8 | 19.4 | 20.5 | 16.1 |
| EBIT [+] | 31.2 | 24.8 | 18.6 | 32.0 | 34.9 | 43.7 | 52.4 | 65.7 |
| EBIT growth | 26.1% | 32.9% | -41.8% | -8.2% | -20.3% | -16.5% | -20.2% | -2.5% |
| EBIT margin | 7.5% | 7.7% | 6.5% | 10.8% | 11.6% | 6218.2% | 16.0% | 18.8% |
| Non-recurring items [+] | | | 7.3 | | | 4.7 | | |
| Asset impairment | | | 7.3 | | | 4.7 | | |
| Loss (gain) on disposal of assets | | | | | | | | 0.1 |
| Interest income, net [+] | -4.3 | 1.1 | 3.9 | 2.9 | 0.2 | 0.1 | 0.1 | 0.4 |
| Interest expense | 4.3 | | | | | | | |
| Interest income | | 1.1 | 3.9 | 2.9 | 0.2 | 0.1 | 0.1 | 0.4 |
| Other income (expense), net [+] | -0.8 | 0.0 | 1.5 | 0.5 | | -0.7 | -0.1 | 0.2 |
| Gain (loss) on sale of assets | 1.3 | 0.9 | 0.6 | 0.9 | 2.1 | 6.0 | 0.8 | 0.1 |
| Pre-tax income | 26.1 | 25.8 | 16.7 | 35.4 | 35.0 | 38.4 | 52.4 | 66.2 |
| Income taxes | 7.5 | 7.0 | 5.2 | 9.3 | 11.5 | 14.9 | 20.1 | 25.2 |
| Tax rate | 28.8% | 27.2% | 31.1% | 26.2% | 32.8% | 38.9% | 38.3% | 38.0% |
| Net income | 17.8 | 18.8 | 10.0 | 25.6 | 21.1 | 24.2 | 32.4 | 40.9 |
| Net margin | 4.2% | 5.8% | 3.5% | 8.6% | 7.1% | 3436.0% | 9.9% | 11.7% |
| |
| Basic EPS [+] | $0.98 | $1.27 | $0.62 | $1.56 | $1.30 | $1.50 | $1.94 | $2.36 |
| Growth | -22.4% | 103.4% | -60.2% | 20.1% | -13.5% | -22.7% | -17.5% | -1.1% |
| Diluted EPS [+] | $0.97 | $1.25 | $0.62 | $1.54 | $1.29 | $1.49 | $1.93 | $2.33 |
| Growth | -22.3% | 103.1% | -60.0% | 19.5% | -13.4% | -22.8% | -17.2% | -0.7% |
| |
| |
| Shares outstanding (basic) [+] | 18.1 | 14.9 | 16.1 | 16.4 | 16.2 | 16.1 | 16.7 | 17.4 |
| Growth | 21.6% | -7.6% | -1.9% | 1.0% | 1.0% | -3.6% | -3.9% | -1.7% |
| Shares outstanding (diluted) [+] | 18.3 | 15.0 | 16.3 | 16.6 | 16.4 | 16.2 | 16.8 | 17.5 |
| Growth | 21.3% | -7.4% | -2.3% | 1.6% | 1.0% | -3.5% | -4.2% | -2.1% |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |