Operator

Thank you for standing by. My name is Abby, and I will be your conference operator today. At this time, I would like to welcome everyone to the APEI First Quarter 2026 Earnings Call [Operator Instructions].

And I would now like to turn the call over to Shannon Devine, Investor Relations. Please go ahead.

Shannon Devine

Thank you, and good afternoon, everyone. Welcome to American Public Education's conference call to discuss first quarter 2026 results. Joining me on the call today are Angela Selden, President and Chief Executive Officer; Edward Codispoti, Executive Vice President and Chief Financial Officer; and Gary Janson, Chief Strategy and Growth Officer.

Materials for today's call, which is being webcast and open to the public, are available in the Events and Presentations section of the APEI website.

Statements made during this call and in the accompanying presentation regarding APEI and its subsidiaries that are not historical facts may be forward-looking statements that are based on management's current expectations, assumptions, estimates and projections. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. including risks related to potential impacts from