Strategic Education, Inc. (STRA) Financial Statements (2024 and earlier)

Company Profile

Business Address 2303 DULLES STATION BOULEVARD
HERNDON, VA 20171
State of Incorp. MD
Fiscal Year End December 31
Industry (SIC) 82 - Educational Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments222,823275,419195,066454,567348,853155,933
Cash and cash equivalents213,667268,918187,509419,693311,732155,933
Short-term investments9,1566,5017,55734,87437,121 
Receivables62,95351,59051,59851,52355,69423,122
Other current assets43,28540,77739,45818,00415,81411,293
Total current assets:329,061367,786286,122524,094420,361190,348
Noncurrent Assets
Operating lease, right-of-use asset125,248149,587120,687 
Property, plant and equipment132,845150,589158,854117,029122,67773,763
Long-term investments and receivables13,12323,37730,27036,63337,678 
Long-term investments13,12323,37730,27036,63337,678 
Intangible assets, net (including goodwill)1,511,8181,562,2441,644,9461,005,0861,060,88420,744
Goodwill1,251,2771,285,8641,318,526732,075732,54020,744
Intangible assets, net (excluding goodwill)260,541276,380326,420273,011328,344 
Restricted cash and investments    500  
Other noncurrent assets49,65252,29754,92821,78819,42911,971
Other undisclosed noncurrent assets    84,278 24,452
Total noncurrent assets:1,832,6861,938,0942,009,6851,265,3141,240,668130,930
TOTAL ASSETS:2,161,7472,305,8802,295,8071,789,4081,661,029321,278
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:90,58895,518104,74290,82885,97946,177
Taxes payable  1,3524191,038
Accrued liabilities 6,989     
Other undisclosed accounts payable and accrued liabilities83,59995,518104,74289,47685,56045,139
Deferred revenue88,48873,23260,501 
Deferred revenue and credits21,851
Contract with customer, liability39,28438,733
Other undisclosed current liabilities30,86827,00534,80926,6364191,038
Total current liabilities:209,944195,755200,052156,748125,13169,066
Noncurrent Liabilities
Long-term debt and lease obligation101,396304,451247,974   
Long-term debt, excluding current maturities101,396141,630141,823   
Liabilities, other than long-term debt, including:214,61791,68499,46241,45151,31643,015
Deferred revenue and credits21,033
Contract with customer, liability30,92523,880
Deferred income tax liabilities34,60544,59553,407 
Restructuring reserve    1,8386,800 
Other liabilities46,00647,08946,0551,7641,263 
Operating lease, liability134,006162,821106,151 
Other undisclosed liabilities, other than long-term debt    6,92419,37321,982
Other undisclosed noncurrent liabilities    128,49959,358 
Total noncurrent liabilities:316,013396,135347,436169,950110,67443,015
Total liabilities:525,957591,890547,488326,698235,805112,081
Equity
Equity, attributable to parent1,635,7901,713,9901,748,3191,462,7101,425,224209,197
Common stock244246244220217112
Additional paid in capital1,510,9241,529,9691,519,5491,309,4381,306,65347,079
Accumulated other comprehensive income (loss)(35,068)9,20348,88023332 
Retained earnings159,690174,572179,646152,819118,322162,006
Total equity:1,635,7901,713,9901,748,3191,462,7101,425,224209,197
TOTAL LIABILITIES AND EQUITY:2,161,7472,305,8802,295,8071,789,4081,661,029321,278

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues1,065,4801,131,6861,027,653997,137634,185454,851
Revenue, net454,851
Cost of revenue(17,582)(88,168)(90,377)(83,590)(85,110)(264,671)
Cost of goods and services sold      (245,177)
Provision for loan, lease, and other losses   (49,130)  
Gross profit:1,047,8981,043,518937,276913,547549,075190,180
Operating expenses(977,138)(969,606)(827,892)(803,015)(571,815)(137,971)
Operating income (loss):70,76073,912109,384110,532(22,740)52,209
Nonoperating income (expense)(1,191)2,6874,57313,1923,6011,079
Investment income, nonoperating      1,079
Other nonoperating income (expense)(1,191)2,6874,57313,1923,601 
Interest and debt expense   (466)(333)(292)(642)
Income (loss) from continuing operations before equity method investments, income taxes:69,56976,599113,491123,391(19,431)52,646
Other undisclosed income from continuing operations before income taxes   466333292 
Income (loss) from continuing operations before income taxes:69,56976,599113,957123,724(19,139)52,646
Income tax expense (benefit)(22,899)(21,512)(27,689)(42,586)3,468(32,034)
Income (loss) from continuing operations:46,67055,08786,26881,138(15,671)20,612
Income (loss) before gain (loss) on sale of properties:55,08786,26881,138(15,671)20,612
Net income (loss) available to common stockholders, diluted:46,67055,08786,26881,138(15,671)20,612

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):46,67055,08786,26881,138(15,671)20,612
Comprehensive income (loss):46,67055,08786,26881,138(15,671)20,612
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(44,271)(39,677)48,64720132 
Comprehensive income (loss), net of tax, attributable to parent:2,39915,410134,91581,339(15,639)20,612

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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