Filing Flows › Strategic Education (STRA) › Q4 2025
Strategic Education (STRA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Strategic Education (STRA) reported revenue of $323M for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +1% from the quarter before. Operating margin was 16.0%, net earnings $37.9M (11.7% of revenue).
Strategic Education, Q4 2025: revenue $323M (+4% year over year), operating margin 16.0%, net earnings $37.9M, operating cash flow $39.2M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $323M | +1% | +4% |
| Operating profit | $51.6M | +39% | +43% |
| Net earnings | $37.9M | +42% | +50% |
| Operating cash flow | $39.2M | -35% | +146% |
| Free cash flow | $27.0M | -45% | +477% |
What changed
Revenue was $323.2M in Q4 2025, up 4% year over year and up 1% from the previous quarter. U.S. Higher Education was the largest line at 68% of revenue.
Operating profit was $51.6M, a 16.0% margin (up 4.4 points year over year). Of the extra revenue versus a year earlier, 133% reached operating profit, above the 12% margin then. Total costs fell 1% while revenue rose 4%. Net earnings were $37.9M, up 50% year over year. The effective tax rate was 28.7%.
Operating cash flow was $39.2M (up 146% year over year), 103% of net earnings. Non-cash charges added back $13.2M of depreciation and amortization and $5.8M of share-based compensation. Working capital and other items used $17.7M. Capital expenditures of $12.2M left free cash flow of $27.0M.
Questions
What was Strategic Education's revenue in the fourth quarter 2025?
Strategic Education (STRA) reported revenue of $323M for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +1% from the quarter before.
Was Strategic Education profitable in the fourth quarter 2025?
Operating profit was $51.6M (16.0% of revenue) and net earnings $37.9M.