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Strategic Education, Inc. STRA Education Technology Services — Direct segment expenses

Other segment segments

U.S. Higher Education
$171.62M-2.2%
Australia / New Zealand
$48.32M+6.8%

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CDWEducation — Other segment expense items
$73.1M-8.7%
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NNIEducation Technology Services and Payments (ETSP) — Intersegment expenses, net
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HURNEducation — Direct costs (exclusive of depreciation and amortization included below)
$90.68M+0.4%
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NNIEducation Technology Services and Payments (ETSP) — Operating Expenses
$62.86M+6.9%
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ABMEducation — Other segment expense
$54.1M-0.2%

Other financials

Income statement

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Revenue$305.9M+0.8%
Operating income$41.1M+3.2%
Net income$32.8M+10.3%
EPS (diluted)$1.48+19.4%

Balance sheet

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Cash & equivalents$160.8M+2.7%
Total debt$109.2M-8.6%
Total equity$1.6B-0.5%
Total assets$2.1B+0.2%

Cash flow

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Operating cash flow$87.4M+29.1%
CapEx$10.1M-2.4%
Free cash flow$77.3M+34.8%

Valuation

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Market cap$1.74B-9.4%
Enterprise value$1.69B-10.3%
P/E13.5×-3.6×
P/S1.4×-0.2×

Profitability

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Operating margin13.8%+1.3pp
Net margin10.2%+1.1pp
FCF margin13.7%+4.1pp

Returns & leverage

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Return on equity7.9%+1.1pp
Debt / equity0.1×0.0×
Current ratio1.2×-0.1×

Where this comes from

Reported directly by Strategic Education, Inc. in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The official record: Strategic Education, Inc.’s 10-Q, filed April 23, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Strategic Education, Inc.'s education technology services — direct segment expenses?
Strategic Education, Inc. (STRA) reported education technology services — direct segment expenses of $19.71M in Q1 2026.
How has Strategic Education, Inc.'s education technology services — direct segment expenses changed year-over-year?
Strategic Education, Inc.'s education technology services — direct segment expenses increased by 4.8% year-over-year, from $18.81M to $19.71M.
What is the long-term trend for Strategic Education, Inc.'s education technology services — direct segment expenses?
Over 3 years (2022 to 2025), Strategic Education, Inc.'s education technology services — direct segment expenses has grown at a 25.7% compound annual growth rate (CAGR), from $40.88M to $81.15M.
What does education technology services — direct segment expenses mean?
This includes the operating costs directly attributable to the Education Technology Services segment, such as personnel, technology infrastructure, and program delivery costs. It provides a clear view of the segment's cost structure and operational efficiency before corporate overhead allocations. Tracking this helps assess the segment's ability to manage its primary cost drivers while scaling revenue.