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Exhibit 99.1 apei AMERICAN PUBLIC EDUCATION , INC . American Public Education Reports Third Quarter 2021 Results CHARLES TOWN , WV ( November 08 , 2021 ) – American Public Education , Inc. ( Nasdaq : APEI ) announced financial results for the quarter ended September 30 , 2021 . Third Quarter Highlights : • APEI completed the acquisition of Rasmussen University on September 1 , 2021 • Consolidated revenue increased 24 % year - over - year to $ 98.2 million , as a result of the acquisition of RU • Net loss for the period was $ 0.3 million , compared to net income of $ 2.6 million for the three months ended September 30 , 2021 , a decrease of $ 2.9 million • Adjusted EBITDA decreased 16 % year - over - year to $ 9.1 million • APEI agreed to acquire Graduate School USA , a federal workforce training provider Results of operations for the three and nine months ended September 30 , 2021 include the results of Rasmussen University ( " RU " ) from September 1 through September 30 , 2021. APEI did not consolidate the financial results of RU prior to September 1 , 2021. Accordingly , the financial results of each period presented are not directly comparable . Financial Results : Three months ended September 30 , 2021 compared to three months ended September 30 , 2020 : • Total consolidated revenue for 2021 increased 24 % to $ 98.2 million , compared to total revenue of $ 79.1 million in 2020 , due to : 0 the inclusion of RU revenue from September 1 through September 30 , 2021 of $ 21.1 million ( note : the third month of each quarter for RU is historically the lowest due to the timing of revenue recognition ) ; 0 an increase of $ 1.7 million , or 18 % , in revenue from Hondros College of Nursing ( HCN ) , reflecting an increase in enrollment of 19 % to 2,320 students ; • 0 a decrease of $ 3.8 million , or -5 % , in revenue from American Public University System ( APUS ) , primarily due to a decline in net course registrations of 8 % in 2021 compared to 2020 Total costs and expenses increased to $ 97.0 million for 2021 compared to $ 75.8 million in 2020 , primarily due to the inclusion of RU in the current quarter results . RU's costs as a percentage of revenue were negatively impacted in the current quarter due to the timing of the close of the transaction .