Filing Flows › Strategic Education (STRA) › Q2 2026
Strategic Education (STRA) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 29, 2026
Strategic Education (STRA) reported revenue of $337M for the second quarter 2026 (Q2 2026), +5% from a year earlier and +10% from the quarter before. Operating margin was 15.0%, net earnings $37.2M (11.0% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $337M | +10% | +5% |
| Operating profit | $50.5M | +23% | +10% |
| Net earnings | $37.2M | +13% | +15% |
| Operating cash flow | $29.2M | -67% | -7% |
| Free cash flow | $15.0M | -81% | -26% |
What changed
Revenue was $337.3M in Q2 2026, up 5% year over year and up 10% from the previous quarter. U.S. Higher Education was the largest line at 65% of revenue. Education Technology Services added $5.7M year over year (up 15%), 36% of the total change.
Operating profit was $50.5M, a 15.0% margin (up 0.7 points year over year). Of the extra revenue versus Q2 2025, 30% reached operating profit, above the 14% margin then. Total costs grew 4% against revenue growth of 5%. Net earnings were $37.2M, up 15% year over year. The effective tax rate was 28.3%.
Operating cash flow was $29.2M (down 7% year over year), 79% of net earnings. Non-cash charges added back $11.2M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items used $24.1M. Capital expenditures of $14.1M left free cash flow of $15.0M.
Questions
What was Strategic Education's revenue in the second quarter 2026?
Strategic Education (STRA) reported revenue of $337M for the second quarter 2026 (Q2 2026), +5% from a year earlier and +10% from the quarter before.
Was Strategic Education profitable in the second quarter 2026?
Operating profit was $50.5M (15.0% of revenue) and net earnings $37.2M.