Filing Flows › Strategic Education (STRA) › Q2 2026 › vs Q2 2025
Strategic Education (STRA) Q2 2026 vs Q2 2025 (year over year)
Strategic Education's revenue rose $15.8M (+5%) from $321M in Q2 2025 to $337M in Q2 2026. The biggest changes: Education Technology Services +$5.7M (+15%); Australia / New Zealand +$5.2M (+8%); U.S. Higher Education +$4.9M (+2%). Operating margin 15.0% against 14.2% (+0.7 pts).
Strategic Education, Q2 2026: revenue $337M (+5% year over year), operating margin 15.0%, net earnings $37.2M, operating cash flow $29.2M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 15.0% | 14.2% | +0.7 pts |
| Net margin | 11.0% | 10.1% | +1.0 pts |
| Free cash flow margin | 4.5% | 6.3% | -1.9 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| U.S. Higher Education | $221M | $216M | $4.9M | +2% |
| Australia / New Zealand | $74.4M | $69.1M | $5.2M | +8% |
| Education Technology Services | $42.4M | $36.7M | $5.7M | +15% |
| Revenue | $337M | $321M | $15.8M | +5% |
| Other income, net | $1.4M | −$315K | $1.7M | — |
| Operating profit | $50.5M | $45.8M | $4.7M | +10% |
| Costs & expenses | $287M | $276M | $11.1M | +4% |
| Pre-tax earnings | $51.8M | $45.4M | $6.4M | +14% |
| General & admin | $106M | $107M | −$328K | -0.3% |
| Other operating costs | $180M | $169M | $11.4M | +7% |
| Net earnings | $37.2M | $32.3M | $4.8M | +15% |
| Income tax | $14.7M | $13.1M | $1.6M | +12% |
| Depreciation & amortization | $11.2M | $12.0M | −$808K | -7% |
| Share-based compensation | $4.9M | $5.9M | −$983K | -17% |
| Working capital & other | $24.1M | $19.0M | $5.1M | +27% |
| Operating cash flow | $29.2M | $31.2M | −$2.0M | -7% |
| Free cash flow (OCF − capex) | $15.0M | $20.4M | −$5.3M | -26% |
| Capital expenditures | $14.1M | $10.8M | $3.3M | +30% |
Questions
How much did Strategic Education's revenue grow year over year in Q2 2026?
Strategic Education's revenue rose $15.8M (+5%) from $321M in Q2 2025 to $337M in Q2 2026.
What drove Strategic Education's revenue change in Q2 2026?
Education Technology Services +$5.7M (+15%); Australia / New Zealand +$5.2M (+8%); U.S.