# Strategic Education, Inc.: financial statements, quarterly

STRA · Nasdaq · CIK 1013934 · [Other](/sectors/other.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/stra.md) · [Financials](/companies/stra/financials.md) · [Filings](/companies/stra/filings.md) · [Insiders](/companies/stra/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/stra/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [286](/filings/0001013934-24-000027.md) | [303 d](/filings/0001013934-26-000006.md) | [290](/filings/0001013934-25-000015.md) | [312](/filings/0001013934-25-000035.md) | [306](/filings/0001013934-25-000042.md) | [311 d](/filings/0001013934-26-000006.md) | [304](/filings/0001013934-26-000012.md) | [321](/filings/0001013934-26-000018.md) | [320](/filings/0001013934-25-000042.md) | [323 d](/filings/0001013934-26-000006.md) | [306](/filings/0001013934-26-000012.md) | [337](/filings/0001013934-26-000018.md) |
| Cost of revenue | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating income | $m | [25.6](/filings/0001013934-24-000027.md) | [54.2 d](/filings/0001013934-26-000006.md) | [41.4](/filings/0001013934-25-000015.md) | [41.9](/filings/0001013934-25-000035.md) | [36.3](/filings/0001013934-25-000042.md) | [36.0 d](/filings/0001013934-26-000006.md) | [39.8](/filings/0001013934-26-000012.md) | [45.8](/filings/0001013934-26-000018.md) | [37.0](/filings/0001013934-25-000042.md) | [51.6 d](/filings/0001013934-26-000006.md) | [41.1](/filings/0001013934-26-000012.md) | [50.5](/filings/0001013934-26-000018.md) |
| Interest expense | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Income tax | $m | [8.0](/filings/0001013934-24-000027.md) | [16.1 d](/filings/0001013934-26-000006.md) | [13.4](/filings/0001013934-25-000015.md) | [11.9](/filings/0001013934-25-000035.md) | [10.8](/filings/0001013934-25-000042.md) | [12.6 d](/filings/0001013934-26-000006.md) | [12.3](/filings/0001013934-26-000012.md) | [13.1](/filings/0001013934-26-000018.md) | [10.1](/filings/0001013934-25-000042.md) | [15.3 d](/filings/0001013934-26-000006.md) | [9.5](/filings/0001013934-26-000012.md) | [14.7](/filings/0001013934-26-000018.md) |
| Net income | $m | [18.5](/filings/0001013934-24-000027.md) | [39.1 d](/filings/0001013934-26-000006.md) | [29.7](/filings/0001013934-25-000015.md) | [29.9](/filings/0001013934-25-000035.md) | [27.7](/filings/0001013934-25-000042.md) | [25.3 d](/filings/0001013934-26-000006.md) | [29.7](/filings/0001013934-26-000012.md) | [32.3](/filings/0001013934-26-000018.md) | [26.6](/filings/0001013934-25-000042.md) | [37.9 d](/filings/0001013934-26-000006.md) | [32.8](/filings/0001013934-26-000012.md) | [37.2](/filings/0001013934-26-000018.md) |
| Diluted EPS | $ per share | [0.77](/filings/0001013934-24-000027.md) | not reported | [1.23](/filings/0001013934-25-000015.md) | [1.24](/filings/0001013934-25-000035.md) | [1.15](/filings/0001013934-25-000042.md) | not reported | [1.24](/filings/0001013934-26-000012.md) | [1.37](/filings/0001013934-26-000018.md) | [1.15](/filings/0001013934-25-000042.md) | not reported | [1.48](/filings/0001013934-26-000012.md) | [1.71](/filings/0001013934-26-000018.md) |
| Basic EPS | $ per share | [0.79](/filings/0001013934-24-000027.md) | not reported | [1.27](/filings/0001013934-25-000015.md) | [1.28](/filings/0001013934-25-000035.md) | [1.18](/filings/0001013934-25-000042.md) | not reported | [1.28](/filings/0001013934-26-000012.md) | [1.41](/filings/0001013934-26-000018.md) | [1.18](/filings/0001013934-25-000042.md) | not reported | [1.52](/filings/0001013934-26-000012.md) | [1.74](/filings/0001013934-26-000018.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: not reported
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: not reported
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [168](/filings/0001013934-24-000027.md) | [168](/filings/0001013934-25-000007.md) | [222](/filings/0001013934-25-000015.md) | [230](/filings/0001013934-25-000035.md) | [196](/filings/0001013934-25-000042.md) | [137](/filings/0001013934-26-000006.md) | [144](/filings/0001013934-26-000012.md) | [134](/filings/0001013934-26-000018.md) | [151](/filings/0001013934-25-000042.md) | [141](/filings/0001013934-26-000018.md) | [150](/filings/0001013934-26-000012.md) | [124](/filings/0001013934-26-000018.md) |
| Current assets | $m | [351](/filings/0001013934-23-000016.md) | [329](/filings/0001013934-25-000007.md) | [390](/filings/0001013934-24-000007.md) | [399](/filings/0001013934-24-000019.md) | [384](/filings/0001013934-24-000027.md) | [305](/filings/0001013934-26-000006.md) | [328](/filings/0001013934-25-000015.md) | [320](/filings/0001013934-25-000035.md) | [346](/filings/0001013934-25-000042.md) | [278](/filings/0001013934-26-000018.md) | [304](/filings/0001013934-26-000012.md) | [290](/filings/0001013934-26-000018.md) |
| Total assets | $m | [2,114](/filings/0001013934-23-000016.md) | [2,125](/filings/0001013934-25-000007.md) | [2,155](/filings/0001013934-24-000007.md) | [2,178](/filings/0001013934-24-000019.md) | [2,188](/filings/0001013934-24-000027.md) | [2,050](/filings/0001013934-26-000006.md) | [2,074](/filings/0001013934-25-000015.md) | [2,092](/filings/0001013934-25-000035.md) | [2,112](/filings/0001013934-25-000042.md) | [2,039](/filings/0001013934-26-000018.md) | [2,078](/filings/0001013934-26-000012.md) | [2,069](/filings/0001013934-26-000018.md) |
| Current liabilities | $m | [265](/filings/0001013934-23-000016.md) | [210](/filings/0001013934-25-000007.md) | [262](/filings/0001013934-24-000007.md) | [253](/filings/0001013934-24-000019.md) | [286](/filings/0001013934-24-000027.md) | [216](/filings/0001013934-26-000006.md) | [259](/filings/0001013934-25-000015.md) | [254](/filings/0001013934-25-000035.md) | [283](/filings/0001013934-25-000042.md) | [218](/filings/0001013934-26-000018.md) | [263](/filings/0001013934-26-000012.md) | [265](/filings/0001013934-26-000018.md) |
| Total liabilities | $m | [519](/filings/0001013934-23-000016.md) | [473](/filings/0001013934-25-000007.md) | [513](/filings/0001013934-24-000007.md) | [499](/filings/0001013934-24-000019.md) | [471](/filings/0001013934-24-000027.md) | [387](/filings/0001013934-26-000006.md) | [431](/filings/0001013934-25-000015.md) | [425](/filings/0001013934-25-000035.md) | [456](/filings/0001013934-25-000042.md) | [392](/filings/0001013934-26-000018.md) | [444](/filings/0001013934-26-000012.md) | [435](/filings/0001013934-26-000018.md) |
| Long-term debt | $m | [61.2](/filings/0001013934-23-000016.md) | [61.4](/filings/0001013934-25-000007.md) | [61.3](/filings/0001013934-24-000007.md) | [61.3](/filings/0001013934-24-000019.md) | [0.0](/filings/0001013934-24-000027.md) | [0.0](/filings/0001013934-25-000007.md) | not reported | not reported | not reported | not reported | not reported | not reported |
| Current portion of debt | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $m | [1,595](/filings/0001013934-24-000027.md) | [1,653](/filings/0001013934-26-000006.md) | [1,643](/filings/0001013934-25-000035.md) | [1,678](/filings/0001013934-25-000042.md) | [1,717](/filings/0001013934-25-000042.md) | [1,662](/filings/0001013934-26-000018.md) | [1,643](/filings/0001013934-26-000018.md) | [1,667](/filings/0001013934-26-000018.md) | [1,656](/filings/0001013934-25-000042.md) | [1,646](/filings/0001013934-26-000018.md) | [1,634](/filings/0001013934-26-000018.md) | [1,634](/filings/0001013934-26-000018.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Current portion of debt: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [46.4 d](/filings/0001013934-24-000027.md) | [29.9 d](/filings/0001013934-26-000006.md) | [77.6](/filings/0001013934-25-000015.md) | [24.3 d](/filings/0001013934-25-000035.md) | [51.5 d](/filings/0001013934-25-000042.md) | [15.9 d](/filings/0001013934-26-000006.md) | [67.7](/filings/0001013934-26-000012.md) | [31.2 d](/filings/0001013934-26-000018.md) | [60.1 d](/filings/0001013934-25-000042.md) | [39.2 d](/filings/0001013934-26-000006.md) | [87.4](/filings/0001013934-26-000012.md) | [29.2 d](/filings/0001013934-26-000018.md) |
| Capital expenditure | $m | [9.5 d](/filings/0001013934-24-000027.md) | [9.6 d](/filings/0001013934-26-000006.md) | [9.2](/filings/0001013934-25-000015.md) | [10.7 d](/filings/0001013934-25-000035.md) | [9.4 d](/filings/0001013934-25-000042.md) | [11.2 d](/filings/0001013934-26-000006.md) | [10.3](/filings/0001013934-26-000012.md) | [10.8 d](/filings/0001013934-26-000018.md) | [10.9 d](/filings/0001013934-25-000042.md) | [12.2 d](/filings/0001013934-26-000006.md) | [10.1](/filings/0001013934-26-000012.md) | [14.1 d](/filings/0001013934-26-000018.md) |
| Dividends paid | $m | [14.7 d](/filings/0001013934-24-000027.md) | [14.6 d](/filings/0001013934-26-000006.md) | [14.7](/filings/0001013934-25-000015.md) | [14.8 d](/filings/0001013934-25-000035.md) | [14.8 d](/filings/0001013934-25-000042.md) | [14.7 d](/filings/0001013934-26-000006.md) | [14.8](/filings/0001013934-26-000012.md) | [14.4 d](/filings/0001013934-26-000018.md) | [14.2 d](/filings/0001013934-25-000042.md) | [14.2 d](/filings/0001013934-26-000006.md) | [13.6](/filings/0001013934-26-000012.md) | [13.3 d](/filings/0001013934-26-000018.md) |
| Share repurchases | $m | [0.0 d](/filings/0001013934-24-000027.md) | [0.0 d](/filings/0001013934-26-000006.md) | [0.0](/filings/0001013934-25-000015.md) | [0.0 d](/filings/0001013934-25-000035.md) | [5.0 d](/filings/0001013934-25-000042.md) | [6.5 d](/filings/0001013934-26-000006.md) | [32.0](/filings/0001013934-26-000012.md) | [28.0 d](/filings/0001013934-26-000018.md) | [34.3 d](/filings/0001013934-25-000042.md) | [44.6 d](/filings/0001013934-26-000006.md) | [40.0](/filings/0001013934-26-000012.md) | [32.8 d](/filings/0001013934-26-000018.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Dividends paid: us-gaap:PaymentsOfDividendsCommonStock
- Share repurchases: us-gaap:PaymentsForRepurchaseOfCommonStock

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [23.9](/filings/0001013934-23-000016.md) | [23.4](/filings/0001013934-24-000007.md) | [24.0](/filings/0001013934-24-000019.md) | [23.9](/filings/0001013934-24-000027.md) | [24.1](/filings/0001013934-25-000015.md) | [24.2](/filings/0001013934-25-000035.md) | [24.2](/filings/0001013934-25-000042.md) | [24.1](/filings/0001013934-26-000012.md) | [23.5](/filings/0001013934-26-000018.md) | [23.2](/filings/0001013934-25-000042.md) | [22.2](/filings/0001013934-26-000012.md) | [21.7](/filings/0001013934-26-000018.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 22,207,559 at 2026-07-17, from the cover of the [10-Q filed 2026-07-29](/filings/0001013934-26-000018.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:30 ET. No prices; not investment advice.