Strategic Education, Inc. (NASDAQ: STRA)

Strategic Education, Inc. is an education services company that provides access to high quality education through campus based and online post secondary education offerings, as well as programs to develop job ready skills for high demand markets. The company operates primarily through its wholly owned subsidiaries Capella University and Strayer University in the United States and Torrens University in Australia, and also includes an Education Technology Services segment that builds employer education benefits programs and offers low cost online general education courses.

The company generates revenue principally from tuition and fees paid by students enrolled in its universities, from subscription fees for its Sophia Learning platform, and from fees earned through its Workforce Edge employer services and other education technology offerings. In 2025 the company reported total revenue of approximately 1.3 billion dollars.

The company operates through the following segments: U. S. Higher Education, Australia/New Zealand, and Education Technology Services.

• The U. S. Higher Education segment delivers flexible and affordable certificate and degree programs to working adult students mainly through Capella University and Strayer University, including the Jack Welch Management Institute MBA offered by Strayer University, and provides non degree web and mobile application development courses through Hackbright Academy and Devmountain. The segment serves a diverse student body where about seventy percent of students are age thirty one or older, approximately seventy two percent study part time, about seventy five percent of gender reporting students are female, and roughly sixty one percent of ethnicity reporting students are minorities. Instruction is delivered primarily online with some campus based options and includes career counseling, tutoring and various tuition models such as GuidedPath and FlexPath.

• The Australia/New Zealand segment consists of Torrens University, Think Education and Media Design School at Strayer, delivering undergraduate, graduate, higher degree by research, specialized degree and vocational programs in business, design and creative technology, health, hospitality and education. Courses are offered both online and at physical campuses located in major cities across Australia and New Zealand, and the segment serves a student population where about fifty five percent are domestic students and forty five percent are international students, with strong industry partnerships informing curriculum design and career services such as Careers Connect to support job placement and work integrated learning.

• The Education Technology Services segment enables employers and working adult learners to access technology enabled education solutions such as Sophia Learning, a low cost self paced platform for general education level courses recommended for credit transfer, and Workforce Edge, a full service platform that helps employers design, manage and report on education benefits programs while giving employees access to a curated catalog of degree, certificate and workforce aligned courses from partner providers. The segment has experienced growth driven by rising employer affiliated enrollment and wider use of its platforms, which help reduce administrative complexity and improve talent development outcomes.

The company operates in a highly competitive post secondary education market that includes traditional public and private two year and four year colleges, other proprietary degree granting schools, vocational training providers and free or low cost online course offerings such as massive open online courses. Its competitive position is strengthened by a focus on working adult learners, the availability of competency based and direct assessment learning models like FlexPath, strong employer relationships that drive tuition reimbursement and enrollment, and well recognized brand names such as Capella University and Strayer University. Additional advantages include a diversified program portfolio across undergraduate graduate and non degree fields, robust career and student support services, and a scale that allows sharing of technology and administrative functions across its universities.

The company’s customers are primarily working adult students pursuing certificate degree and non degree programs to advance their careers, recent high school graduates looking for accessible post secondary options, and employers who partner with the firm to provide education benefits and upskilling opportunities for their workforce. These customers benefit from flexible online and hybrid learning formats, career services and affordability initiatives such as scholarships and tuition caps.