Filing Flows › Strategic Education (STRA) › Q1 2026
Strategic Education (STRA) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 23, 2026
Strategic Education (STRA) reported revenue of $306M for the first quarter 2026 (Q1 2026), +0.8% from a year earlier and -5% from the quarter before. Operating margin was 13.4%, net earnings $32.8M (10.7% of revenue).
Strategic Education, Q1 2026: revenue $306M (+0.8% year over year), operating margin 13.4%, net earnings $32.8M, operating cash flow $87.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $306M | -5% | +0.8% |
| Operating profit | $41.1M | -20% | +3% |
| Net earnings | $32.8M | -13% | +10% |
| Operating cash flow | $87.4M | +123% | +29% |
| Free cash flow | $77.3M | +187% | +35% |
What changed
Revenue was $305.9M in Q1 2026, up 1% year over year and down 5% from the previous quarter. U.S. Higher Education was the largest line at 69% of revenue. Education Technology Services added $7.2M year over year (up 21%), 308% of the total change. U.S. Higher Education declined 4%.
Operating profit was $41.1M, a 13.4% margin (up 0.3 points year over year). Of the extra revenue versus Q1 2025, 55% reached operating profit, above the 13% margin then. Total costs grew 0% against revenue growth of 1%. Net earnings were $32.8M, up 10% year over year. The effective tax rate was 22.4%.
Operating cash flow was $87.4M (up 29% year over year), 266% of net earnings. Non-cash charges added back $10.9M of depreciation and amortization and $5.4M of share-based compensation. Working capital and other items added $38.3M. Capital expenditures of $10.1M left free cash flow of $77.3M.
Questions
What was Strategic Education's revenue in the first quarter 2026?
Strategic Education (STRA) reported revenue of $306M for the first quarter 2026 (Q1 2026), +0.8% from a year earlier and -5% from the quarter before.
Was Strategic Education profitable in the first quarter 2026?
Operating profit was $41.1M (13.4% of revenue) and net earnings $32.8M.