| Strategic Education, Inc. (STRA) |
| Q1-CY2026 | Q4-CY2025 | Q3-CY2025 | Q2-CY2025 | Q1-CY2025 | Q4-CY2024 | Q3-CY2024 | Q2-CY2024 | Q1-CY2024 | Q4-CY2023 | Q3-CY2023 | Q2-CY2023 | Q1-CY2023 | Q4-CY2022 | Q3-CY2022 | Q2-CY2022 | Q1-CY2022 | Q4-CY2021 | Q3-CY2021 | Q2-CY2021 | Q1-CY2021 | Q4-CY2020 | Q3-CY2020 | Q2-CY2020 | Q1-CY2020 | Q4-CY2019 | Q3-CY2019 | Q2-CY2019 | Q1-CY2019 | Q4-CY2018 | Q3-CY2018 | Q2-CY2018 | Q1-CY2018 | Q4-CY2017 | Q3-CY2017 | Q2-CY2017 | Q1-CY2017 | Q4-CY2016 | Q3-CY2016 | Q2-CY2016 | Q1-CY2016 | Q4-CY2015 | Q3-CY2015 | Q2-CY2015 | Q1-CY2015 | Q4-CY2014 | Q3-CY2014 | Q2-CY2014 | Q1-CY2014 |
| Balance Sheet Date | | 2025-Dec-31 | 2025-Sep-30 | 2025-Jun-30 | 2025-Mar-31 | 2024-Dec-31 | 2024-Sep-30 | 2024-Jun-30 | 2024-Mar-31 | 2023-Dec-31 | 2023-Sep-30 | 2023-Jun-30 | 2023-Mar-31 | 2022-Dec-31 | 2022-Sep-30 | 2022-Jun-30 | 2022-Mar-31 | 2021-Dec-31 | 2021-Sep-30 | 2021-Jun-30 | 2021-Mar-31 | 2020-Dec-31 | 2020-Sep-30 | 2020-Jun-30 | 2020-Mar-31 | 2019-Dec-31 | 2019-Sep-30 | 2019-Jun-30 | 2019-Mar-31 | 2018-Dec-31 | 2018-Sep-30 | 2018-Jun-30 | 2018-Mar-31 | 2017-Dec-31 | 2017-Sep-30 | 2017-Jun-30 | 2017-Mar-31 | 2016-Dec-31 | 2016-Sep-30 | 2016-Jun-30 | 2016-Mar-31 | 2015-Dec-31 | 2015-Sep-30 | 2015-Jun-30 | 2015-Mar-31 | 2014-Dec-31 | 2014-Sep-30 | 2014-Jun-30 | 2014-Mar-31 |
| Fiscal Period | | Q4-FY2025 | Q3-FY2025 | Q2-FY2025 | Q1-FY2025 | Q4-FY2024 | Q3-FY2024 | Q2-FY2024 | Q1-FY2024 | Q4-FY2023 | Q3-FY2023 | Q2-FY2023 | Q1-FY2023 | Q4-FY2022 | Q3-FY2022 | Q2-FY2022 | Q1-FY2022 | Q4-FY2021 | Q3-FY2021 | Q2-FY2021 | Q1-FY2021 | Q4-FY2020 | Q3-FY2020 | Q2-FY2020 | Q1-FY2020 | Q4-FY2019 | Q3-FY2019 | Q2-FY2019 | Q1-FY2019 | Q4-FY2018 | Q3-FY2018 | Q2-FY2018 | Q1-FY2018 | Q4-FY2017 | Q3-FY2017 | Q2-FY2017 | Q1-FY2017 | Q4-FY2016 | Q3-FY2016 | Q2-FY2016 | Q1-FY2016 | Q4-FY2015 | Q3-FY2015 | Q2-FY2015 | Q1-FY2015 | Q4-FY2014 | Q3-FY2014 | Q2-FY2014 | Q1-FY2014 |
| Total Assets | | 2,038,540,000$ | 2,111,963,000$ | 2,091,523,000$ | 2,074,213,000$ | 2,049,735,000$ | 2,187,524,000$ | 2,177,524,000$ | 2,155,236,000$ | 2,125,213,000$ | 2,114,100,000$ | 2,142,112,000$ | 2,165,768,000$ | 2,161,747,000$ | 2,215,251,000$ | 2,260,261,000$ | 2,367,883,000$ | 2,305,880,000$ | 2,316,122,000$ | 2,363,313,000$ | 2,369,442,000$ | 2,295,807,000$ | 2,047,319,000$ | 1,791,564,000$ | 1,783,821,000$ | 1,789,408,000$ | 1,781,196,000$ | 1,784,570,000$ | 1,775,390,000$ | 1,661,029,000$ | 1,645,696,000$ | 336,765,000$ | 331,810,000$ | 321,278,000$ | 328,575,000$ | 318,482,000$ | 313,974,000$ | 298,696,000$ | 286,504,000$ | 277,551,000$ | 277,696,000$ | 248,434,000$ | 230,273,000$ | 336,003,000$ | 327,778,000$ | 307,815,000$ | 295,484,000$ | 282,193,000$ | 277,614,000$ |
| Total Current Assets | | 277,857,000$ | 346,430,000$ | 319,943,000$ | 328,287,000$ | 304,943,000$ | 383,514,000$ | 398,868,000$ | 390,447,000$ | 329,069,000$ | 350,635,000$ | 350,914,000$ | 357,013,000$ | 329,061,000$ | 402,748,000$ | 395,824,000$ | 417,848,000$ | 367,786,000$ | 406,481,000$ | 393,635,000$ | 352,928,000$ | 286,122,000$ | 806,375,000$ | 553,496,000$ | 532,783,000$ | 524,094,000$ | 505,613,000$ | 490,321,000$ | 456,589,000$ | 420,361,000$ | 391,410,000$ | 214,172,000$ | 201,422,000$ | 190,348,000$ | 186,760,000$ | 180,051,000$ | 177,400,000$ | 160,543,000$ | 152,702,000$ | 145,781,000$ | 144,494,000$ | 132,352,000$ | 119,726,000$ | 225,299,000$ | 217,583,000$ | 196,651,000$ | 182,680,000$ | 166,483,000$ | 157,776,000$ |
| Cash and Cash Equivalents | | 140,757,000$ | 151,460,000$ | 133,600,000$ | 144,215,000$ | 137,074,000$ | 195,889,000$ | 230,111,000$ | 222,116,000$ | 168,481,000$ | 167,707,000$ | 181,024,000$ | 202,824,000$ | 213,667,000$ | 262,757,000$ | 262,941,000$ | 293,419,000$ | 268,918,000$ | 274,774,000$ | 261,585,000$ | 238,290,000$ | 187,509,000$ | 717,804,000$ | 470,319,000$ | 442,845,000$ | 419,693,000$ | 397,094,000$ | 375,515,000$ | 352,387,000$ | 311,732,000$ | 276,382,000$ | 171,600,000$ | 165,867,000$ | 155,933,000$ | 150,483,000$ | 147,867,000$ | 147,099,000$ | 129,245,000$ | 120,502,000$ | 117,422,000$ | 117,498,000$ | 106,889,000$ | 86,917,000$ | 195,557,000$ | 188,279,000$ | 162,283,000$ | 150,471,000$ | 136,076,000$ | 126,200,000$ |
| Receivables | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Other Current Assets | | 49,090,000$ | 54,266,000$ | 56,353,000$ | 55,334,000$ | 44,793,000$ | 55,648,000$ | 52,990,000$ | 53,801,000$ | 44,758,000$ | 48,689,000$ | 52,330,000$ | 54,046,000$ | 43,285,000$ | 46,928,000$ | 48,092,000$ | 52,846,000$ | 40,777,000$ | 39,785,000$ | 43,600,000$ | 44,714,000$ | 39,458,000$ | 22,156,000$ | 19,067,000$ | 21,761,000$ | 18,004,000$ | 17,130,000$ | 17,660,000$ | 16,874,000$ | 15,814,000$ | 17,367,000$ | 11,385,000$ | 10,558,000$ | 11,293,000$ | 12,917,000$ | 10,357,000$ | 9,978,000$ | 10,766,000$ | 10,838,000$ | 8,409,000$ | 8,383,000$ | 6,944,000$ | 15,745,000$ | 14,520,000$ | 14,342,000$ | 17,426,000$ | 16,497,000$ | 15,398,000$ | 16,095,000$ |
| Assets Held for Sale in Short Term | | | 2,200,000$ | | | | | | | | | | 3,793,000$ | | | | | | 2,167,000$ | 5,801,000$ | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total Noncurrent Assets | | 1,760,683,000$ | 1,765,533,000$ | 1,771,580,000$ | 1,745,926,000$ | 1,744,792,000$ | 1,804,010,000$ | 1,778,656,000$ | 1,764,789,000$ | 1,796,144,000$ | 1,763,465,000$ | 1,791,198,000$ | 1,808,755,000$ | 1,832,686,000$ | 1,812,503,000$ | 1,864,437,000$ | 1,950,035,000$ | 1,938,094,000$ | 1,909,641,000$ | 1,969,678,000$ | 2,016,514,000$ | 2,009,685,000$ | 1,240,944,000$ | 1,238,068,000$ | 1,251,038,000$ | 1,265,314,000$ | 1,275,583,000$ | 1,294,249,000$ | 1,318,801,000$ | 1,240,668,000$ | 1,254,286,000$ | 122,593,000$ | 130,388,000$ | 130,930,000$ | 141,815,000$ | 138,431,000$ | 136,574,000$ | 138,153,000$ | 133,802,000$ | 131,770,000$ | 133,202,000$ | 116,082,000$ | 110,547,000$ | 110,704,000$ | 110,195,000$ | 111,164,000$ | 112,804,000$ | 115,710,000$ | 119,838,000$ |
| Goodwill | | 1,242,413,000$ | 1,237,065,000$ | 1,231,105,000$ | 1,209,710,000$ | 1,206,883,000$ | 1,260,599,000$ | 1,240,962,000$ | 1,229,882,000$ | 1,251,888,000$ | 1,228,431,000$ | 1,237,982,000$ | 1,243,330,000$ | 1,251,277,000$ | 1,226,499,000$ | 1,256,428,000$ | 1,303,175,000$ | 1,285,864,000$ | 1,280,221,000$ | 1,303,863,000$ | 1,311,487,000$ | 1,318,526,000$ | 732,075,000$ | 732,075,000$ | 732,075,000$ | 732,075,000$ | 732,075,000$ | 732,104,000$ | 732,799,000$ | 732,540,000$ | 730,729,000$ | 17,919,000$ | 20,744,000$ | 20,744,000$ | 20,744,000$ | 20,744,000$ | 20,744,000$ | 20,744,000$ | 20,793,000$ | 20,793,000$ | 21,042,000$ | 6,800,000$ | 6,800,000$ | 6,800,000$ | 6,800,000$ | 6,800,000$ | 6,800,000$ | 6,800,000$ | 6,800,000$ |
| Other Intangible Assets | | 249,243,000$ | 248,925,000$ | 248,172,000$ | 245,452,000$ | 245,098,000$ | 251,952,000$ | 249,469,000$ | 248,855,000$ | 251,623,000$ | 249,514,000$ | 253,353,000$ | 256,715,000$ | 260,541,000$ | 259,855,000$ | 266,078,000$ | 276,267,000$ | 276,380,000$ | 278,365,000$ | 289,985,000$ | 308,190,000$ | 326,420,000$ | 231,511,000$ | 245,344,000$ | 259,178,000$ | 273,011,000$ | 286,844,000$ | 300,678,000$ | 314,511,000$ | 328,344,000$ | 342,477,000$ | | | 7,260,000$ | | | | | | | | | | | | | | | |
| Physical Assets | | 107,373,000$ | 107,774,000$ | 111,027,000$ | 109,672,000$ | 111,247,000$ | 116,205,000$ | 116,253,000$ | 116,419,000$ | 118,529,000$ | 117,872,000$ | 121,066,000$ | 124,298,000$ | 132,845,000$ | 136,073,000$ | 141,736,000$ | 152,742,000$ | 150,589,000$ | 147,246,000$ | 153,812,000$ | 164,277,000$ | 158,854,000$ | 115,607,000$ | 117,247,000$ | 117,284,000$ | 117,029,000$ | 116,489,000$ | 118,462,000$ | 119,040,000$ | 122,677,000$ | 124,613,000$ | 72,125,000$ | 73,686,000$ | 73,763,000$ | 74,335,000$ | 72,706,000$ | 72,803,000$ | 73,124,000$ | 71,725,000$ | 72,577,000$ | 74,954,000$ | 77,139,000$ | 78,589,000$ | 80,336,000$ | 80,804,000$ | 82,266,000$ | 84,403,000$ | 87,097,000$ | 90,528,000$ |
| Other Noncurrent Assets | | 65,514,000$ | 65,787,000$ | 66,241,000$ | 65,815,000$ | 62,910,000$ | 58,554,000$ | 59,720,000$ | 54,980,000$ | 54,419,000$ | 54,945,000$ | 54,812,000$ | 51,180,000$ | 49,652,000$ | 50,347,000$ | 49,295,000$ | 50,066,000$ | 52,297,000$ | 54,424,000$ | 59,887,000$ | 60,282,000$ | 54,928,000$ | 50,369,000$ | 30,067,000$ | 23,566,000$ | 21,788,000$ | 20,435,000$ | 19,784,000$ | 19,052,000$ | 19,429,000$ | 23,143,000$ | 9,698,000$ | 12,155,000$ | 4,711,000$ | 12,127,000$ | 12,540,000$ | 12,908,000$ | 13,189,000$ | 13,390,000$ | 13,891,000$ | 14,276,000$ | 5,694,000$ | 5,687,000$ | 5,471,000$ | 5,578,000$ | 5,857,000$ | 6,392,000$ | 6,938,000$ | 7,520,000$ |
| Assets Held for Sale in Long Term | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total Liabilities | | 392,134,000$ | 455,860,000$ | 424,806,000$ | 430,899,000$ | 387,236,000$ | 470,728,000$ | 499,424,000$ | 512,653,000$ | 472,695,000$ | 519,346,000$ | 543,506,000$ | 555,339,000$ | 525,957,000$ | 616,769,000$ | 608,340,000$ | 643,570,000$ | 591,890,000$ | 621,066,000$ | 630,133,000$ | 633,517,000$ | 547,488,000$ | 342,261,000$ | 307,014,000$ | 324,674,000$ | 326,698,000$ | 336,537,000$ | 346,694,000$ | 351,952,000$ | 235,805,000$ | 237,366,000$ | 112,925,000$ | 113,518,000$ | 112,081,000$ | 113,086,000$ | 109,281,000$ | 115,448,000$ | 110,322,000$ | 113,285,000$ | 109,613,000$ | 119,579,000$ | 105,578,000$ | 103,096,000$ | 215,347,000$ | 221,415,000$ | 215,083,000$ | 217,766,000$ | 212,230,000$ | 223,447,000$ |
| Total Current Liabilities | | 217,943,000$ | 283,482,000$ | 254,480,000$ | 259,436,000$ | 216,460,000$ | 285,840,000$ | 253,439,000$ | 261,723,000$ | 209,619,000$ | 265,491,000$ | 242,087,000$ | 241,709,000$ | 209,944,000$ | 259,917,000$ | 235,633,000$ | 254,836,000$ | 195,755,000$ | 255,648,000$ | 252,189,000$ | 249,757,000$ | 200,052,000$ | 195,295,000$ | 148,884,000$ | 160,888,000$ | 156,748,000$ | 157,830,000$ | 153,819,000$ | 153,517,000$ | 125,131,000$ | 116,117,000$ | 69,204,000$ | 72,278,000$ | 69,066,000$ | 72,298,000$ | 61,303,000$ | 66,231,000$ | 59,839,000$ | 61,654,000$ | 59,540,000$ | 62,488,000$ | 57,591,000$ | 57,535,000$ | 60,474,000$ | 63,558,000$ | 56,335,000$ | 58,761,000$ | 49,256,000$ | 55,574,000$ |
| Accounts Payable | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Short Term Debt | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Short Term Capital Lease Obligations | | 15,905,000$ | 18,412,000$ | 20,112,000$ | 20,076,000$ | 22,222,000$ | 22,827,000$ | 23,973,000$ | 23,316,000$ | 24,190,000$ | 23,121,000$ | 23,380,000$ | 23,207,000$ | 23,879,000$ | 23,539,000$ | 25,009,000$ | 25,833,000$ | 27,005,000$ | 25,737,000$ | 29,284,000$ | 32,886,000$ | 34,809,000$ | 24,740,000$ | 24,852,000$ | 24,806,000$ | 25,284,000$ | 26,167,000$ | 26,834,000$ | 26,462,000$ | | | | | | | | | | | | | | | | | | | | |
| Other Current Liabilities | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Total Noncurrent Liabilities | | 174,191,000$ | 172,378,000$ | 170,326,000$ | 171,463,000$ | 170,776,000$ | 184,888,000$ | 245,985,000$ | 250,930,000$ | 263,076,000$ | 253,855,000$ | 301,419,000$ | 313,630,000$ | 316,013,000$ | 356,852,000$ | 372,707,000$ | 388,734,000$ | 396,135,000$ | 365,418,000$ | 377,944,000$ | 383,760,000$ | 347,436,000$ | 146,966,000$ | 158,130,000$ | 163,786,000$ | 169,950,000$ | 178,707,000$ | 192,875,000$ | 198,435,000$ | 110,674,000$ | 121,249,000$ | 43,721,000$ | 41,240,000$ | 43,015,000$ | 40,788,000$ | 47,978,000$ | 49,217,000$ | 50,483,000$ | 51,631,000$ | 50,073,000$ | 57,091,000$ | 47,987,000$ | 45,561,000$ | 154,873,000$ | 157,857,000$ | 158,748,000$ | 159,005,000$ | 162,974,000$ | 167,873,000$ |
| Long Term Debt | | | | | | | | 61,329,000$ | 61,256,000$ | 61,400,000$ | 61,247,000$ | 101,309,000$ | 101,344,000$ | 101,396,000$ | 141,234,000$ | 141,437,000$ | 141,743,000$ | 141,630,000$ | 141,593,000$ | 141,748,000$ | 141,798,000$ | 141,823,000$ | | | | | | | | | | | | | | | | | | | | | | 109,375,000$ | 110,938,000$ | 112,500,000$ | 114,063,000$ | 115,625,000$ | 117,188,000$ |
| Long Term Capital Lease Obligations | | 93,216,000$ | 99,239,000$ | 100,190,000$ | 99,407,000$ | 103,004,000$ | 116,090,000$ | 112,269,000$ | 116,350,000$ | 127,735,000$ | 121,395,000$ | 126,975,000$ | 131,908,000$ | 134,006,000$ | 136,791,000$ | 145,841,000$ | 158,930,000$ | 162,821,000$ | 139,031,000$ | 148,382,000$ | 152,981,000$ | 106,151,000$ | 76,802,000$ | 77,458,000$ | 78,765,000$ | 80,557,000$ | 83,067,000$ | 86,998,000$ | 90,501,000$ | | | | | | | | | | | | | | | | | | | | |
| Other Noncurrent Liabilities | | 45,140,000$ | 42,220,000$ | 42,211,000$ | 41,355,000$ | 40,186,000$ | 42,615,000$ | 44,763,000$ | 42,885,000$ | 45,603,000$ | 42,959,000$ | 41,794,000$ | 44,040,000$ | 46,006,000$ | 45,139,000$ | 46,815,000$ | 48,087,000$ | 47,089,000$ | 43,770,000$ | 45,004,000$ | 44,717,000$ | 46,055,000$ | 36,152,000$ | 40,565,000$ | 40,440,000$ | 41,451,000$ | 1,993,000$ | 1,977,000$ | 1,417,000$ | 1,263,000$ | 1,386,000$ | | | | | | | | | | | | | | | | | | |
| Total Equity | | 1,646,406,000$ | 1,656,103,000$ | 1,666,717,000$ | 1,643,314,000$ | 1,662,499,000$ | 1,716,796,000$ | 1,678,100,000$ | 1,642,583,000$ | 1,652,518,000$ | 1,594,754,000$ | 1,598,606,000$ | 1,610,429,000$ | 1,635,790,000$ | 1,598,482,000$ | 1,651,921,000$ | 1,724,313,000$ | 1,713,990,000$ | 1,695,056,000$ | 1,733,180,000$ | 1,735,925,000$ | 1,748,319,000$ | 1,705,058,000$ | 1,484,550,000$ | 1,459,147,000$ | 1,462,710,000$ | 1,444,659,000$ | 1,437,876,000$ | 1,423,438,000$ | 1,425,224,000$ | 1,408,330,000$ | 223,840,000$ | 218,292,000$ | 209,197,000$ | 215,489,000$ | 209,201,000$ | 198,526,000$ | 188,374,000$ | 173,219,000$ | 167,938,000$ | 158,117,000$ | 142,856,000$ | 127,177,000$ | 120,656,000$ | 106,363,000$ | 92,732,000$ | 77,718,000$ | 69,963,000$ | 54,167,000$ |
| Equity to Minority | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Equity to Common Shareholders | | 1,646,406,000$ | 1,656,103,000$ | 1,666,717,000$ | 1,643,314,000$ | 1,662,499,000$ | 1,716,796,000$ | 1,678,100,000$ | 1,642,583,000$ | 1,652,518,000$ | 1,594,754,000$ | 1,598,606,000$ | 1,610,429,000$ | 1,635,790,000$ | 1,598,482,000$ | 1,651,921,000$ | 1,724,313,000$ | 1,713,990,000$ | 1,695,056,000$ | 1,733,180,000$ | 1,735,925,000$ | 1,748,319,000$ | 1,705,058,000$ | 1,484,550,000$ | 1,459,147,000$ | 1,462,710,000$ | 1,444,659,000$ | 1,437,876,000$ | 1,423,438,000$ | 1,425,224,000$ | 1,408,330,000$ | 223,840,000$ | 218,292,000$ | 209,197,000$ | 215,489,000$ | 209,201,000$ | 198,526,000$ | 188,374,000$ | 173,219,000$ | 167,938,000$ | 158,117,000$ | 142,856,000$ | 127,177,000$ | 120,656,000$ | 106,363,000$ | 92,732,000$ | 77,718,000$ | 69,963,000$ | 54,167,000$ |
| Additional Paid-In Capital | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Retained Earnings | | 255,496,000$ | 241,098,000$ | 236,076,000$ | 225,440,000$ | 218,405,000$ | 210,194,000$ | 198,908,000$ | 183,800,000$ | 168,871,000$ | 144,365,000$ | 140,368,000$ | 142,893,000$ | 159,690,000$ | 156,704,000$ | 166,175,000$ | 166,550,000$ | 174,572,000$ | 167,665,000$ | 179,089,000$ | 174,469,000$ | 179,646,000$ | 188,392,000$ | 192,072,000$ | 171,266,000$ | 152,819,000$ | 137,639,000$ | 132,060,000$ | 118,783,000$ | 118,322,000$ | 106,907,000$ | 170,712,000$ | 168,413,000$ | 162,006,000$ | 171,356,000$ | 167,983,000$ | 160,535,000$ | 152,810,000$ | 141,092,000$ | 138,214,000$ | 130,428,000$ | 118,008,000$ | 104,967,000$ | 101,244,000$ | 89,370,000$ | 77,985,000$ | 65,042,000$ | 60,089,000$ | 46,412,000$ |
| Treasury Stock | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Capital Lease Obligations | | 109,121,000$ | | | | 125,226,000$ | | | | 151,925,000$ | | | | 157,885,000$ | | | | 189,826,000$ | | | | 140,960,000$ | | | | 105,841,000$ | 109,234,000$ | 113,832,000$ | 116,963,000$ | | | | | | | | | | | | | | | | | | | | |