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

Other segment segments

U.S. Higher Education
$174.12M-3.2%
Australia / New Zealand
$67.83M+33.3%

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Other financials

Income statement

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Revenue$337.3M+4.9%
Operating income$50.5M+10.3%
Net income$37.2M+14.9%
EPS (diluted)$1.71+24.8%

Balance sheet

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Cash & equivalents$132.1M-8.9%
Total debt$106.7M-11.3%
Total equity$1.6B-2.0%
Total assets$2.1B-1.1%

Cash flow

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Operating cash flow$29.2M-6.5%
CapEx$14.1M+30.5%
Free cash flow$15.0M-26.2%

Valuation

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Market cap$1.86B+5.8%
Enterprise value$1.84B+5.8%
P/E13.9×-1.4×
P/S1.5×0.0×

Profitability

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Operating margin14%+1.3pp
Net margin10.5%+1.2pp
FCF margin13.1%+3.1pp

Returns & leverage

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Return on equity8.2%+1.3pp
Debt / equity0.1×0.0×
Current ratio1.1×-0.2×

Where this comes from

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

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The source filing: Strategic Education, Inc.’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001013934-26-000018
Line itemU.S. Higher EducationAustralia/New Zealand(1)Education Technology ServicesTotal
Revenues$220,526$74,384$42,354$337,264
Segment expenses
Direct segment expenses174,12267,83420,883262,839
Enterprise shared services allocation14,0295,5481,90321,480
Segment income from operations$32,375$1,002$19,568$52,945
Unallocated expenses
Restructuring costs(2,465)
Consolidated income from operations$50,480

Item 1. Financial Statements

FAQ

What is Strategic Education, Inc.'s education technology services — direct segment expenses?
Strategic Education, Inc. (STRA) reported education technology services — direct segment expenses of $20.88M in Q2 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 4.7% year-over-year, from $19.95M to $20.88M.
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.

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