U.S. Higher Education was Strategic Education’s largest segment in fiscal 2025, bringing in $830.06M of $1.22B (68%).
| Segment | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| U.S. Higher Education | $738.05M | $784.07M | $820.91M | $830.06M | ||||||
| Strayer University | — | — | — | — | ||||||
| Australia / New Zealand | $224.40M | $226.39M | $249.34M | $245.51M | ||||||
| Capella University | — | — | — | — | ||||||
| Education Technology Services | $63.75M | $80.45M | $104.92M | $148.40M | ||||||
| Non-Degree Programs | — | — | — | — | ||||||
| Total | $1.03B | $1.09B | $1.18B | $1.22B |
Strategic Education brought in $1.22B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 4.2% from $1.18B in fiscal 2024. U.S. Higher Education was the largest at $830.06M (67.8%), ahead of Australia / New Zealand at $245.51M (20.1%) and Education Technology Services at $148.40M (12.1%).
Compared with fiscal 2024, Education Technology Services grew fastest, up 41.4% to $148.40M, while Australia / New Zealand fell the most, down 1.5% to $245.51M. From fiscal 2022 to 2025, combined revenue from these segments grew from $1.03B to $1.22B, a compound annual growth rate of 6.1%. U.S. Higher Education's share of the total fell from 71.9% to 67.8%.
United States was Strategic Education’s largest region in fiscal 2025, bringing in $1.02B of $1.27B (80%).
| Geography | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| United States | $834.73M | $899.41M | $962.81M | $1.02B |
| Non-Us | — | $233.52M | $257.12M | $251.58M |
| Australia/New Zealand | $230.75M | — | — | — |
| Total | $1.07B | $1.13B | $1.22B | $1.27B |
Strategic Education brought in $1.27B from its two regions in fiscal 2025, the year ended December 31, 2025. That was up 4.0% from $1.22B in fiscal 2024. United States was the largest at $1.02B (80.2%), ahead of Non-Us at $251.58M (19.8%).
Compared with fiscal 2024, United States grew 5.6% to $1.02B, while Non-Us fell 2.2% to $251.58M.
Strategic Education began breaking out Non-Us in fiscal 2023, when it brought in $233.52M. Strategic Education stopped reporting Australia/New Zealand as a separate region after fiscal 2022, when it brought in $230.75M.
Tuition, Net Of Discounts, Grants & Scholarships was Strategic Education’s largest product and service line in fiscal 2018, bringing in $455.61M of $486.02M (94%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 |
|---|---|---|---|
| Tuition, Net Of Discounts, Grants & Scholarships | $418.22M | $433.94M | $455.61M |
| Other | — | $15.61M | $30.41M |
| Other Revenue | $16.93M | — | — |
| Total | $435.15M | $449.55M | $486.02M |
Strategic Education brought in $486.02M from its two product and service lines in fiscal 2018, the year ended December 31, 2018. That was up 8.1% from $449.55M in fiscal 2017. Tuition, Net Of Discounts, Grants & Scholarships was the largest at $455.61M (93.7%), ahead of Other at $30.41M (6.3%).
Compared with fiscal 2017, Other grew 94.8% to $30.41M and Tuition, Net Of Discounts, Grants & Scholarships grew 5.0% to $455.61M.
Strategic Education began breaking out Other in fiscal 2017, when it brought in $15.61M. Strategic Education stopped reporting Other Revenue as a separate line after fiscal 2016, when it brought in $16.93M.
Strategic Education (STRA) reports its revenue by segment, by geography and by product and service. In fiscal 2025, U.S. Higher Education was its largest segment, bringing in $830.06M (67.8% of the total), followed by Australia / New Zealand at $245.51M (20.1%).
U.S. Higher Education was Strategic Education's largest segment in fiscal 2025, bringing in $830.06M, or 67.8% of the $1.22B total across its three segments.
United States was Strategic Education's largest region in fiscal 2025, bringing in $1.02B, or 80.2% of the $1.27B total across its two regions.
Tuition, Net Of Discounts, Grants & Scholarships was Strategic Education's largest product and service line in fiscal 2018, bringing in $455.61M, or 93.7% of the $486.02M total across its two product and service lines.
Among Strategic Education's segments that make up at least 2% of revenue, Education Technology Services grew fastest in fiscal 2025, up 41.4% from $104.92M to $148.40M.
Every figure comes from Strategic Education's annual financial filings, as reported. Each line keeps the name Strategic Education gives it, and years follow its fiscal calendar.
Strategic Education's revenue by segment goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.