Strategic Education, Inc. is dedicated to helping advance economic mobility through higher education. The Company serves working adult students all over the globe through its core focus areas: 1) U.S. Higher Education, through Strayer University and Capella University, each institutionally accredited, and collectively offer flexible and affordable associate, bachelor's, master's and doctoral programs including the Jack Welch Management Institute at Strayer University; 2) Alternative Learning, encompassing Sophia Learning, self-paced general education courses that are ACE-recommended for college credit; Workforce Edge, a full service, online employee education management portal; Digital Enablement Partnerships, helping advance capabilities in course development, online delivery and student support; and non-degree web and mobile application development courses through Hackbright Academy and Strayer University's DevMountain; and 3) Australia/New Zealand, comprised of Torrens University, Think Education and Media Design School operations in Australia and New Zealand. This portfolio of high quality, innovative, relevant, and affordable programs and institutions helps students prepare for success in today's workforce and find a path to bettering their lives.

Company profile
Ticker
STRA
Exchange
Website
CEO
Raymond McDonnell
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
STRAYER EDUCATION INC
SEC CIK
Corporate docs
Subsidiaries
Capella Education Company, Inc. • Capella Learning Solutions, LLC • Capella University, LLC • SEI Newco, Inc. • Sophia Learning, LLC • Strayer University, LLC • Workforce Edge, LLC • SEI Australia Education Pty Ltd • SEI Australia Holdings Pty Ltd • SEI Higher Education Holdings Pty Ltd ...
IRS number
521975978
STRA stock data
News

Strategic Education's Return On Capital Employed Insights
28 Jul 22
BMO Capital Maintains Outperform on Strategic Education, Raises Price Target to $81
28 Jul 22
Recap: Strategic Education Q2 Earnings
27 Jul 22
Strategic Education Q2 EPS $0.87, Inline, Sales $273.60M Miss $275.76M Estimate
27 Jul 22
Earnings Scheduled For July 27, 2022
27 Jul 22
Press releases
Devmountain and Hackbright Academy Coding Programs Endorsed as OneTen Talent Developers
9 Aug 22
Strategic Education, Inc. Reports Second Quarter 2022 Results
27 Jul 22
Workforce Edge Partners with Caesars Entertainment to Provide Nearly 50,000 Eligible U.S.-Based Team Members Access to Robust Tuition Benefit Program
12 Jul 22
Strategic Education, Inc. Schedules Second Quarter 2022 Results Conference Call
22 Jun 22
The Center for Social Dynamics to Offer 'Dreams Come TRUE', a Top-Tier Education Benefit for Employees through Workforce Edge
9 Jun 22
Analyst ratings and price targets
Calendar
27 Jul 22
12 Aug 22
31 Dec 22
Financial summary
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Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 276.36M | 276.36M | 276.36M | 276.36M | 276.36M | 276.36M |
Cash burn (monthly) | 10.32M | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 15.02M | n/a | n/a | n/a | n/a | n/a |
Cash remaining | 261.34M | n/a | n/a | n/a | n/a | n/a |
Runway (months of cash) | 25.3 | n/a | n/a | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
31 Jul 22 | Christa Hokenson | Common Stock | Payment of exercise | Dispose F | No | No | 71.83 | 1,277 | 91.73K | 32,669 |
27 Apr 22 | Brogley Rita D | Common Stock | Grant | Acquire A | No | No | 0 | 1,717 | 0 | 8,684 |
27 Apr 22 | J Kevin Gilligan | Common Stock | Grant | Acquire A | No | No | 0 | 1,717 | 0 | 8,326 |
27 Apr 22 | Jerry Lavell Johnson | Common Stock | Grant | Acquire A | No | No | 0 | 1,717 | 0 | 3,438 |
27 Apr 22 | Fick Nathaniel C. | Common Stock | Grant | Acquire A | No | No | 0 | 1,717 | 0 | 6,595 |
Institutional ownership, Q1 2022
13F holders | Current |
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Total holders | 0 |
Opened positions | 0 |
Closed positions | 0 |
Increased positions | 0 |
Reduced positions | 0 |
13F shares | Current |
---|---|
Total value | 0 |
Total shares | 0 |
Total puts | 0 |
Total calls | 0 |
Total put/call ratio | – |
Largest owners | Shares | Value |
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Financial report summary
?Competition
AspenRisks
- If Strayer University and Capella University fail to comply with the extensive legal and regulatory requirements for higher education institutions, they could face significant monetary or other liabilities and penalties, including loss of access to federal student loans and grants for their students.
- Congressional examination of for-profit post-secondary education could lead to legislation or other governmental action that may negatively affect the industry.
- We are dependent on the renewal and maintenance of Title IV programs.
- Strayer University and Capella University are subject to compliance reviews, which, if they resulted in a material finding of noncompliance, could affect their ability to participate in Title IV programs.
- If either Strayer University or Capella University fails to maintain its institutional accreditation or if its institutional accrediting body loses recognition by the Department of Education, the University would lose its ability to participate in Title IV programs.
- If either Strayer University or Capella University fails to maintain any of its state authorizations, the University would lose its ability to operate in that state and to participate in Title IV programs there.
- If either Strayer University or Capella University fails to obtain recertification by the Department of Education when required, that University would lose its ability to participate in Title IV programs.
- A failure to demonstrate financial responsibility or administrative capability may result in the loss of eligibility to participate in Title IV programs.
- Student loan defaults in the U.S. could result in the loss of eligibility to participate in Title IV programs.
- Strayer University or Capella University could lose its eligibility to participate in federal student financial aid programs or be provisionally certified with respect to such participation if the percentage of its revenues derived from those programs were too high, or could be restricted from enrolling students in certain states if the percentage of the University’s revenues from federal or state programs were too high.
- The failure by Strayer University or Capella University to comply with the Department of Education’s incentive compensation rules could result in sanctions and other liability.
- The failure by Strayer University or Capella University to comply with the Department of Education’s misrepresentation rules could result in sanctions and other liability.
- The failure by Strayer University or Capella University to comply with the Department of Education’s credit hour or direct assessment rules could result in sanctions and other liability.
- The failure by Strayer University or Capella University to comply with the Clery Act or Title IX could result in sanctions and other liability.
- Strayer University and Capella University are subject to sanctions if they fail to calculate accurately and make timely payment of refunds of Title IV program funds for students who withdraw before completing their educational program.
- Investigations, legislative and regulatory developments, and general credit market conditions related to the student loan industry may result in fewer lenders and loan products and increased regulatory burdens and costs in the U.S.
- We rely on one or more third parties for software and services necessary to administer Strayer University's and Capella University's participation in Title IV programs and failure of such a third party to provide compliant software and services, or by us in our use of the software, could cause Strayer University or Capella University to lose eligibility to participate in Title IV programs.
- Our business could be harmed if Strayer University or Capella University experience a disruption in their ability to process student loans under the Federal Direct Loan Program.
- Our business could be harmed if Congress makes changes to the availability of Title IV funds.
- As enforcement of laws related to the accessibility of technology continues to evolve in the U.S., information technology development costs and compliance risks could increase.
- Our enrollment rate is uncertain, and we may not be able to assess our future enrollments effectively.
- Adding new locations, programs, and services is dependent on our forecast of the demand for those locations, programs, and services and on regulatory approvals.
- Our future success depends in part upon our ability to recruit and retain key personnel.
- Our success depends in part on our ability to update and expand the content of existing academic programs and develop new programs in a cost-effective manner and on a timely basis.
- Congressional and other governmental activities in the U.S. could damage the reputation of Strayer University or Capella University and limit our ability to attract and retain students.
- We face strong competition in the post-secondary education market.
- Strayer University and Capella University, with their online programs, operate in a highly competitive market with rapid technological changes, and they may not compete successfully.
- The Company relies on exclusive proprietary rights and intellectual property, and competitors may attempt to duplicate our programs and methods.
- Seasonal and other fluctuations in our operating results could adversely affect the trading price of our common stock.
- Regulatory requirements in the U.S. may make it more difficult to acquire us.
- Capacity constraints or system disruptions to a University’s computer networks could damage the reputation of the institutions and limit our ability to attract and retain students.
- The Company’s computer networks, and those of third parties we use in our operations, may be vulnerable to security risks that could disrupt operations and require them to expend significant resources.
- The Company has operations in the U.S., Australia, and New Zealand, and is subject to complex business, economic, legal, political, geopolitical, and foreign currency risks, which risks may be difficult to address adequately.
- The personal information that the Company collects may be vulnerable to breach, theft, or loss that could adversely affect our reputation and operations and is subject to privacy and data security laws which may impact operational efficiency.
- Failure to maintain adequate processes to prevent and detect fraudulent activity related to student online enrollment or financial aid could adversely affect the Universities’ operations.
- Integrating SEI and the recently acquired Torrens University and associated assets in Australia and New Zealand (“ANZ”) may be more difficult, costly or time consuming than expected, and the combined company may not realize all of the anticipated benefits of the acquisition.
- The goodwill and indefinite-lived intangible assets recorded in connection with the acquisitions of Capella Education Company (“CEC”) and ANZ could become impaired in the future.
- The current COVID-19 pandemic and other possible future public health emergencies may adversely affect our business, our future results of operations, and our overall financial performance.
- COVID-19 related regulatory and legislative changes may contain ambiguous provisions that could result in penalties in case of institutional noncompliance.
Management Discussion
- Certain of the statements included in this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” as well as elsewhere in this Quarterly Report on Form 10-Q are forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995 (“Reform Act”). Such statements may be identified by the use of words such as “expect,” “estimate,” “assume,” “believe,” “anticipate,” “may,” “will,” “forecast,” “outlook,” “plan,” “project,” “potential” or similar words, and include, without limitation, statements relating to future enrollment, revenues, revenues per student, earnings growth, operating expenses, capital expenditures and the ultimate effect of the COVID-19 pandemic on the Company's business and results. These statements are based on the Company’s current expectations and are subject to a number of assumptions, risks and uncertainties. In accordance with the Safe Harbor provisions of the Reform Act, the Company has identified important factors that could cause the actual results to differ materially from those expressed in or implied by such statements. The assumptions, risks and uncertainties include the pace of student enrollment, our continued compliance with Title IV of the Higher Education Act, and the regulations thereunder, as well as other federal laws and regulations, institutional accreditation standards and state regulatory requirements, rulemaking and other action by the Department, including without limitation action related to borrower defense to repayment applications, and increased focus by the U.S. Congress on for-profit education institutions, competitive factors, risks associated with the further spread of COVID-19, including the ultimate impact of COVID-19 on people and economies, the impact of regulatory measures or voluntary actions that may be put in place to limit the spread of COVID-19, including restrictions on business operations or social distancing requirements, risks associated with the opening of new campuses, risks associated with the offering of new educational programs and adapting to other changes, risks associated with the acquisition of existing educational institutions including our acquisition of Torrens University and associated assets in Australia and New Zealand, the risk that the benefits of our acquisition of Torrens University and associated assets in Australia and New Zealand may not be fully realized or may take longer to realize than expected, the risk that our acquisition of Torrens University and associated assets in Australia and New Zealand may not advance our business strategy and growth strategy, risks related to the timing of regulatory approvals, our ability to implement our growth strategy, the risk that the combined company may experience difficulty integrating employees or operations, risks associated with the ability of our students to finance their education in a timely manner, and general economic and market conditions. You should not put undue reliance on any forward-looking statements. Further information about these and other relevant risks and uncertainties may be found in Part II, “Item 1A. Risk Factors” of this Quarterly Report on Form 10-Q, Part I, “Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K and in the Company’s other filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements, except as required by law.
Content analysis
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New words:
adjudicated, adjudicating, adjudication, allotted, blanket, California, Cardona, contested, dispute, expedited, forgiven, guardrail, heard, joined, main, Miguel, misconduct, Northern, notification, pregnancy, presumption, presumptive, prove, reconsideration, recoupment, sending, single, Sweet, taught, thirty, unclear
Financial reports
Current reports
8-K
Results of Operations and Financial Condition
27 Jul 22
8-K
Submission of Matters to a Vote of Security Holders
3 May 22
8-K
Results of Operations and Financial Condition
28 Apr 22
8-K
Results of Operations and Financial Condition
24 Feb 22
8-K
Results of Operations and Financial Condition
4 Nov 21
8-K
Departure of Directors or Certain Officers
20 Aug 21
8-K
Departure of Directors or Certain Officers
4 Aug 21
8-K
Results of Operations and Financial Condition
28 Jul 21
8-K
Results of Operations and Financial Condition
29 Apr 21
8-K
Other Events
6 Apr 21
Registration and prospectus
424B5
Prospectus supplement for primary offering
6 Aug 20
424B5
Prospectus supplement for primary offering
5 Aug 20
S-3ASR
Automatic shelf registration
5 Aug 20
S-8
Registration of securities for employees
8 Nov 18
S-8
Registration of securities for employees
1 Aug 18
425
Business combination disclosure
9 Jul 18
425
Business combination disclosure
9 Jul 18
425
Business combination disclosure
22 Mar 18
425
Business combination disclosure
25 Feb 18
425
Business combination disclosure
18 Jan 18
Proxies
DEFA14A
Additional proxy soliciting materials
14 Mar 22
DEFA14A
Additional proxy soliciting materials
15 Mar 21
DEFA14A
Additional proxy soliciting materials
9 Apr 20
DEFA14A
Additional proxy soliciting materials
1 Apr 20
DEFA14A
Additional proxy soliciting materials
7 Mar 19
DEF 14A
Definitive proxy
17 Sep 18
Other
UPLOAD
Letter from SEC
5 Jan 20
CORRESP
Correspondence with SEC
19 Dec 19
UPLOAD
Letter from SEC
11 Dec 19
EFFECT
Notice of effectiveness
7 Dec 17
CORRESP
Correspondence with SEC
5 Dec 17
CORRESP
Correspondence with SEC
3 Dec 17
UPLOAD
Letter from SEC
29 Nov 17
UPLOAD
Letter from SEC
13 Oct 16
CORRESP
Correspondence with SEC
27 Sep 16
UPLOAD
Letter from SEC
20 Sep 16
Ownership
4
Strategic Education / Christa Hokenson ownership change
2 Aug 22
4
Strategic Education / William J Slocum ownership change
29 Apr 22
4
Strategic Education / Jerry Lavell Johnson ownership change
29 Apr 22
4
Strategic Education / J KEVIN GILLIGAN ownership change
29 Apr 22
4
Strategic Education / Nathaniel C. Fick ownership change
29 Apr 22
4
Strategic Education / RITA D BROGLEY ownership change
29 Apr 22
4
Strategic Education / CHARLOTTE F BEASON ownership change
28 Apr 22
4
Strategic Education / JOHN T CASTEEN III ownership change
28 Apr 22
4
Strategic Education / ROBERT R GRUSKY ownership change
28 Apr 22
4
Strategic Education / Michael A. McRobbie ownership change
28 Apr 22
Transcripts
2022 Q2
Earnings call transcript
27 Jul 22
2022 Q1
Earnings call transcript
30 Apr 22
2021 Q4
Earnings call transcript
25 Feb 22
2021 Q3
Earnings call transcript
6 Nov 21
2021 Q2
Earnings call transcript
28 Jul 21
2021 Q1
Earnings call transcript
2 May 21
2020 Q4
Earnings call transcript
26 Feb 21
2020 Q4
Earnings call transcript
26 Feb 21
2020 Q3
Earnings call transcript
7 Nov 20
2020 Q2
Earnings call transcript
29 Jul 20
Reddit threads
Daily Discussion Thread - July 27th, 2022
27 Jul 22
Daily Discussion Thread - July 26th, 2022
26 Jul 22
Daily Discussion Thread - July 25th, 2022
25 Jul 22
Daily Discussion Thread - May 26th, 2022
26 May 22
Daily Discussion Thread - May 25th, 2022
25 May 22
Daily Discussion Thread - May 24th, 2022
24 May 22
Daily Discussion Thread - May 23rd, 2022
23 May 22
Daily Discussion Thread - April 28th, 2022
28 Apr 22
Daily Discussion Thread - April 27th, 2022
27 Apr 22
Daily Discussion Thread - April 26th, 2022
26 Apr 22