斯特雷耶教育 2026年季度报告

Strategic Education, Inc. Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ As of April10, 2026, there were outstanding 22,612,909 shares of Common Stock, par value $0.01 per share, of the Registrant. STRATEGIC EDUCATION, INC.INDEX PART I — FINANCIAL INFORMATION Unaudited Condensed Consolidated Statements of Comprehensive Income for the three months endedMarch 31, 2025 and 20264Unaudited Condensed Consolidated Statements of Stockholders’ Equity for the three months endedMarch 31, 2025 and 20265 STRATEGIC EDUCATION, INC.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS STRATEGIC EDUCATION, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME Table of Contents STRATEGIC EDUCATION, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1.Nature of Operations Strategic Education, Inc. (“Strategic Education” or the “Company”), a Maryland corporation, is an education services company thatprovides access to high-quality education through campus-based and online post-secondary education offerings, as well as throughprograms to develop job-ready skills for high-demand markets. Strategic Education’s portfolio of companies is dedicated to closing the The accompanying condensed consolidated financial statements and footnotes include the results of the Company’s three reportablesegments: (1) U.S. Higher Education (“USHE”), which is primarily comprised of Capella University and Strayer University and isfocused on providing flexible and affordable certificate and degree programs to working adults; (2) Education Technology Services(“ETS”), which primarily develops and maintains relationships with employers to build education benefits programs that provideemployees access to affordable and industry-relevant training, certificate, and degree programs, including through Workforce Edge, a 2.Significant Accounting Policies Financial Statement Presentation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Allintercompany accounts and transactions have been eliminated in the consolidated financial statements. All information as of, and for the three months ended, March31, 2025 and 2026 is unaudited but, in the opinion of management,contains all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the condensed consolidatedstatements of financial position, results of operations, and cash flows of the Company. The condensed consolidated balance sheet as ofDecember31, 2025 has been derived from the audited consolidated financial statements at that date. Certain information and footnotedisclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the Below is a description of the nature of the costs included in the Company’s operating expense categories. Instructional and support costs generally contain items of expense directly attributable to activities that support students. Thisexpense category includes salaries and benefits of faculty and academic administrators, as well as admissions and administrativepersonnel who support and serve student interests. Instructional and support costs also include course development costs and costsassociated with delivering course content, including educational supplies, facilities, and all other physical plant and occupancy General and administration expenses include salaries and benefits of management and employees engaged in finance, humanresources, legal, regulatory compliance, marketing and other corporate functions. Also included are the costs of advertising and Restructuring costs include severance and other personnel-related expenses from employee terminations, asset impairmentcharges, gains/losses on sale of real estate and early termination of leased facilities, and other costs associated with the Company’s Foreign Currency Translation and Transaction Gains and Losses The United States Dollar (“USD”) is the functional currency of the Company and its subsidiaries operating