斯特雷耶教育 2025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.☐ Indicateby check mark whether the registrant is a shell company(as defined in Rule 12b-2 of the ExchangeAct).Yes☐No☒ As of April11, 2025, there were outstanding24,163,239shares of Common Stock, par value $0.01 per share, of the Registrant. STRATEGIC EDUCATION, INC.INDEX PART I — FINANCIAL INFORMATION Item1.Financial StatementsUnaudited Condensed Consolidated Balance Sheets at December 31, 2024andMarch 31, 2025Unaudited Condensed Consolidated Statements of Income for the threemonths endedMarch 31, 2024and 2025 PART II—OTHER INFORMATION Item1.Legal ProceedingsItem1A.Risk FactorsItem2.Unregistered Sales of Equity Securities and Use of ProceedsItem3.Defaults Upon Senior SecuritiesItem 4.Mine Safety DisclosuresItem5.Other InformationItem6.ExhibitsSIGNATURES STRATEGIC EDUCATION, INC.UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS STRATEGIC EDUCATION, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME STRATEGIC EDUCATION, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’EQUITY 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’sthreereportablesegments: (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,which primarily develops and maintains relationships with employers to build employee education benefits programs that provide 2.Significant Accounting Policies Financial Statement Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompanyaccounts and transactions have been eliminated in the consolidated financial statements. All information as of, and for the three months ended, March31, 2024 and 2025 is unaudited but, in the opinion of management,contains all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the condensed consolidatedfinancial position, results of operations, and cash flows of the Company. The condensed consolidated balance sheet as ofDecember31, 2024 has been derived from the audited consolidated financial statements at that date. Certain amounts in the priorperiod have been reclassified to conform to the current period’s presentation. Certain information and footnote disclosures normallyincluded in financial statements prepared in accordance with accounting principles generally accepted in the United States of America 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 Restructuringcosts include severa