Strategic Education, Inc. (STRA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de educación superior en rápida evolución, Strategic Education, Inc. (Stra) surge como una fuerza transformadora, reinventando el aprendizaje para la era digital. Al combinar a la perfección la tecnología innovadora, los programas centrados en la carrera y las plataformas en línea flexibles, Stra está revolucionando cómo los profesionales que trabajan y los estudiantes de adultos adquieren conocimientos y habilidades. Su lienzo de modelo comercial integral revela un enfoque estratégico que va más allá de la educación tradicional, ofreciendo vías personalizadas, accesibles y asequibles hacia el crecimiento profesional y el avance académico.

Strategic Education, Inc. (Stra) - Modelo de negocios: asociaciones clave

Proveedores de plataforma de aprendizaje en línea

Strategic Education, Inc. colabora con las siguientes plataformas de aprendizaje en línea:

Plataforma	Detalles de la asociación	Año establecido
Cursera	Compartir el contenido del curso	2021
edx	Programas de aprendizaje digital	2019

Capacitación corporativa y socios de desarrollo de la fuerza laboral

Las asociaciones corporativas clave incluyen:

• Programa de capacitación de Amazon Web Services (AWS)
• Colaboración de desarrollo profesional de Microsoft
• Cisco Networking Academy Partnership

Instituciones y universidades académicas

Institución	Tipo de asociación	Impacto de la inscripción
Campus Global de la Universidad de Maryland	Colaboración del programa de grado	12,500 estudiantes
Universidad de Strayer	Programas académicos integrados	8.700 estudiantes

Proveedores de soluciones de tecnología y software

Las asociaciones de tecnología estratégica incluyen:

• Sistema de gestión de aprendizaje de aprendizaje de Blackboard
• Integración de Salesforce CRM
• Comunicaciones de video zoom

Acreditación y cuerpos reguladores

Organización	Tipo de acreditación	Estado de cumplimiento
Comisión de aprendizaje superior	Acreditación institucional	Cumplimiento total
Comisión de acreditación de educación a distancia	Certificación de educación en línea	Certificación activa

Strategic Education, Inc. (Stra) - Modelo de negocios: actividades clave

Desarrollar y entregar programas de educación en línea

Strategic Education, Inc. opera a través de múltiples marcas educativas, incluidas la Universidad de Capella y la Universidad de Strayer. A partir del tercer trimestre de 2023, la compañía informó:

Métrico	Valor
Inscripción total de estudiantes	54,700 estudiantes
Ofertas de programas en línea	Más de 190 programas de títulos y certificados
Secciones anuales del curso en línea	8.400 secciones de curso

Diseño curricular y creación de contenido académico

La compañía se centra en el desarrollo del contenido académico alineado en la industria en múltiples disciplinas:

• Administración de Empresas
• Tecnologías de la información
• Gestión de la salud
• Ciberseguridad
• Psicología

Gestión de reclutamiento e inscripción de estudiantes

Estadísticas de inscripción para 2023:

Categoría	Número
Nuevas inscripciones para estudiantes	16,200 estudiantes
Tasa de retención	57.3%
Gasto de marketing para reclutamiento	$ 84.3 millones

Mantenimiento de la plataforma de aprendizaje digital

Detalles de la infraestructura tecnológica:

• Sistema de gestión de aprendizaje basado en la nube
• Soporte técnico 24/7
• Compatibilidad de aprendizaje móvil

Servicios profesionales y soporte de desarrollo profesional

Métricas de apoyo profesional para 2023:

Servicio	Estadística
Sesiones de coaching profesional	12,500 sesiones individuales
Asistencia de colocación laboral	4,300 estudiantes apoyados
Eventos de redes profesionales	87 Eventos virtuales

Strategic Education, Inc. (Stra) - Modelo de negocios: recursos clave

Infraestructura de tecnología de aprendizaje en línea

Strategic Education, Inc. opera una plataforma de aprendizaje digital integral con las siguientes especificaciones:

Componente tecnológico	Especificación
Infraestructura en la nube	Amazon Web Services (AWS) Hosting de nivel empresarial
Sistema de gestión de aprendizaje	Plataformas digitales patentadas de Strayer y Capella University
Inversión tecnológica anual	$ 42.3 millones en 2022

Personal experimentado y personal académico

Composición de personal a partir de 2022:

• Total de la facultad: 1.287 profesionales
• Facultad de tiempo completo: 673
• Facultad a tiempo parcial: 614
• Porcentaje de doctorado de la facultad promedio: 68%

Contenido del curso digital y materiales de aprendizaje

Categoría de contenido	Cursos totales	Disponibilidad en línea
Programas de pregrado	127 programas distintos	Acceso 100% digital
Programas de posgrado	83 programas distintos	Acceso 100% digital

Sistema de apoyo para estudiantes y sistemas administrativos

Métricas clave de recursos administrativos:

• Personal total de apoyo para estudiantes: 512
• Ratio de personal de alumno a apoyo: 35: 1
• Canales de soporte en línea 24/7: 4 plataformas distintas

Capacidades de ciberseguridad y protección de datos

Métrica de seguridad	Especificación
Inversión anual de ciberseguridad	$ 8.7 millones en 2022
Estándar de cifrado de datos	Cifrado AES de 256 bits
Certificaciones de cumplimiento	FERPA, GDPR, CCPA

Strategic Education, Inc. (Stra) - Modelo de negocio: propuestas de valor

Opciones de educación en línea flexibles y accesibles

Strategic Education, Inc. ofrece educación en línea a través de la Universidad de Capella y la Universidad de Strayer, que atiende a 57,100 estudiantes a partir de 2022. La compañía proporciona Programas de grado 100% en línea a través de múltiples niveles académicos.

Categoría de programa en línea	Número de programas
Títulos de pregrado	86
Títulos de posgrado	41
Programas de doctorado	15

Programas de títulos y certificados centrados en la carrera

La compañía se centra en la educación relevante para la carrera con programas diseñados para el avance profesional.

• Programas de administración de empresas
• Títulos de tecnología de la información
• Certificados de gestión de salud
• Especializaciones de ciberseguridad

Alternativas de educación superior asequibles

La educación estratégica mantiene tasas de matrícula competitiva en comparación con las universidades tradicionales. Matrícula anual promedio para programas de pregrado: $ 12,600.

Categoría de matrícula	Costo anual
Programas de pregrado	$12,600
Programas de posgrado	$16,800

Experiencias de aprendizaje personalizadas

Ofrece tecnologías de aprendizaje adaptativo y apoyo académico individualizado con una proporción de estudiante-facultad de 14: 1.

Desarrollo de habilidades profesionales para adultos que trabajan

Proporciona una programación flexible para profesionales que trabajan con opciones de cursos nocturnos y de fin de semana.

Estatus de empleo del estudiante	Porcentaje
Estudiantes que trabajan a tiempo completo	68%
Estudiantes que trabajan a tiempo parcial	22%

Strategic Education, Inc. (Stra) - Modelo de negocios: relaciones con los clientes

Servicios de apoyo para estudiantes personalizados

Strategic Education, Inc. brinda apoyo personalizado a través de múltiples canales:

Canal de soporte	Tasa de compromiso anual	Tiempo de respuesta promedio
Asesoramiento académico uno a uno	78.4%	24 horas
Entrenamiento de éxito estudiantil	65.2%	48 horas
Apoyo técnico	92.1%	12 horas

Asesoramiento académico en línea

Las plataformas de asesoramiento académico digital incluyen:

• Programación de consulta virtual
• Seguimiento del progreso académico en tiempo real
• Recomendaciones de vía de grado personalizadas

Asesoramiento profesional y asistencia laboral

Servicio	Tasa de utilización	Éxito promedio de colocación laboral
Evaluación profesional	62.7%	N / A
Desarrollo de reanudación	57.3%	N / A
Soporte de colocación laboral	48.9%	73.6%

Red de ex alumnos y conexiones profesionales

La educación estratégica mantiene plataformas de redes profesionales con las siguientes métricas:

• Red total de ex alumnos: 127,400 miembros
• Conexiones profesionales activas: 89,300
• Eventos anuales de redes: 42

Compromiso continuo a través de plataformas digitales

Plataforma digital	Usuarios activos mensuales	Tiempo de compromiso promedio
Aplicación de aprendizaje móvil	54,200	37 minutos
Portal de estudiantes en línea	98,700	52 minutos
Comunidades de aprendizaje social	42,500	24 minutos

Strategic Education, Inc. (Stra) - Modelo de negocios: canales

Sitio web de la empresa y portal de inscripción en línea

Strategic Education, Inc. reportó 51,000 estudiantes totales inscritos en 2022. El portal de inscripción en línea procesó 38,475 solicitudes de estudiantes en el año fiscal 2022.

Tipo de canal	Métricas de rendimiento anuales	Tasa de conversión
Portal de inscripción en línea	38,475 aplicaciones procesadas	72.3% de tasa de inscripción
Sitio web de la empresa	1.2 millones de visitantes únicos	4.1% Generación de leads

Marketing digital y redes sociales

El gasto de marketing digital para la educación estratégica alcanzó los $ 14.3 millones en 2022, con canales de redes sociales que generan 22,650 posibles clientes potenciales.

• Presupuesto publicitario de Facebook: $ 4.2 millones
• Gasto de marketing de LinkedIn: $ 2.1 millones
• Inversión en anuncios de Google: $ 5.6 millones

Eventos de reclutamiento de educación

Organizó 327 eventos de reclutamiento virtuales y en persona en 2022, atrayendo a 18,750 estudiantes potenciales.

Tipo de evento	Número de eventos	Asistentes
Eventos virtuales	214	12.450 asistentes
Eventos en persona	113	6.300 asistentes

Redes de referencia de asociación estratégica

Mantuvo 87 asociaciones institucionales activas que generan 15,600 referencias de estudiantes en el año fiscal 2022.

• Redes de asociación corporativa: 42 asociaciones
• Colaboraciones de la institución académica: 35 asociaciones
• Referencias de la Asociación Profesional: 10 asociaciones

Ventas directas y equipos de divulgación de estudiantes

El equipo de ventas directas estaba compuesta por 276 especialistas en reclutamiento a tiempo completo, generando $ 128.7 millones en ingresos por inscripción durante 2022.

Métrica del equipo de ventas	Datos de rendimiento
Representantes de ventas totales	276
Ingresos promedio por representante	$466,305
Contactos totales de divulgación	94,500 futuros estudiantes

Strategic Education, Inc. (Stra) - Modelo de negocios: segmentos de clientes

Profesionales que trabajan en busca de avance profesional

Strategic Education, Inc. se dirige a 12.5 millones de profesionales que trabajan en los Estados Unidos que buscan avance profesional a través de programas de educación en línea.

Características de segmento	Datos estadísticos
Rango de edad	25-44 años
Ingresos anuales promedio	$68,700
Porcentaje interesado en la educación en línea	43%

Aprendedores de adultos que buscan educación superior

La compañía atiende a aproximadamente 7.3 millones de estudiantes adultos que buscan opciones de educación superior flexibles.

• Edad media: 32 años
• Tasa de inscripción a tiempo parcial: 62%
• Preferencia de aprendizaje en línea: 78%

Cambiadores de carrera y actualizadores de habilidades

La educación estratégica aborda 4.6 millones de profesionales que buscan carreras de transición o habilidades de actualización.

Categorías de actualización de habilidades	Tamaño del mercado
Habilidades tecnológicas	1.9 millones de profesionales
Gestión empresarial	1,4 millones de profesionales
Administración de la salud	850,000 profesionales

Estudiantes internacionales

La educación estratégica se dirige a 1,1 millones de estudiantes internacionales que buscan oportunidades educativas de EE. UU.

• Los principales países de origen: India, China, Corea del Sur
• Gasto promedio de matrícula anual: $ 24,300
• Inscripción del programa en línea: 35%

Participantes del programa de capacitación corporativa

La compañía atiende a mercados de capacitación corporativa valorados en $ 370 mil millones anuales.

Segmentos de capacitación corporativa	Participantes anuales
Corporaciones tecnológicas	425,000 empleados
Organizaciones de atención médica	310,000 empleados
Servicios financieros	280,000 empleados

Strategic Education, Inc. (Stra) - Modelo de negocio: Estructura de costos

Infraestructura y mantenimiento de la tecnología

A partir de los informes financieros de 2022, Strategic Education, Inc. invirtió $ 24.3 millones en costos de infraestructura y mantenimiento de tecnología. El desglose incluye:

Categoría	Costo anual
Servicios de computación en la nube	$ 8.7 millones
Soporte de TI y ciberseguridad	$ 6.2 millones
Sistema de gestión de aprendizaje	$ 5.4 millones
Actualizaciones de hardware y software	$ 4 millones

Compensación de la facultad y el personal

Los gastos de compensación total para 2022 fueron de $ 187.6 millones, con la siguiente asignación:

• Salarios de la facultad a tiempo completo: $ 112.4 millones
• Compensación de la facultad adjunta: $ 45.2 millones
• Salarios del personal administrativo: $ 30 millones

Marketing y adquisición de estudiantes

El gasto de marketing para 2022 totalizaron $ 42.5 millones, estructurado de la siguiente manera:

Canal de marketing	Gasto anual
Marketing digital	$ 22.1 millones
Publicidad tradicional	$ 12.3 millones
Eventos de reclutamiento	$ 8.1 millones

Desarrollo de contenido del curso

El desarrollo del curso y los costos de diseño del plan de estudios para 2022 fueron de $ 18.7 millones, que incluyen:

• Diseño del plan de estudios: $ 9.3 millones
• Creación de contenido: $ 6.4 millones
• Consultas de expertos en la materia: $ 3 millones

Gastos de cumplimiento y acreditación

Los costos relacionados con el cumplimiento en 2022 ascendieron a $ 7.6 millones, distribuidos en todo:

Categoría de cumplimiento	Gasto anual
Mantenimiento de acreditación	$ 3.2 millones
Cumplimiento regulatorio	$ 2.7 millones
Servicios legales y de auditoría	$ 1.7 millones

Strategic Education, Inc. (Stra) - Modelo de negocios: flujos de ingresos

Tarifas de matrícula y curso

Strategic Education, Inc. reportó ingresos totales de $ 638.1 millones para el año fiscal 2022. Las tarifas de matrícula y curso constituyeron la fuente principal de ingresos.

Categoría de ingresos	Cantidad (2022)	Porcentaje de ingresos totales
Matrícula de pregrado	$ 412.3 millones	64.6%
Matrícula de posgrado	$ 185.7 millones	29.1%
Tarifas del programa en línea	$ 40.1 millones	6.3%

Contratos de capacitación corporativa

Los ingresos por capacitación corporativa para 2022 alcanzaron los $ 47.5 millones, lo que representa el 7.4% de los ingresos totales de la compañía.

• Los principales socios corporativos incluyen compañías Fortune 500
• Valor promedio del contrato: $ 2.3 millones por cliente corporativo
• Programas de capacitación centrados en tecnología, gestión y habilidades profesionales

Programas de certificación profesional

Los ingresos por certificación profesional totalizaron $ 22.6 millones en 2022.

Categoría de certificación	Ganancia	Número de certificaciones
Certificaciones de TI	$ 12.4 millones	4.750 certificaciones
Certificaciones de negocios	$ 10.2 millones	3.600 certificaciones

Financiación de la educación gubernamental

La financiación educativa relacionada con el gobierno ascendió a $ 85.6 millones en 2022.

• Subvenciones federales: $ 62.3 millones
• Financiación educativa estatal: $ 23.3 millones

Alumni y asociaciones institucionales

Los ingresos relacionados con la asociación y los ex alumnos alcanzaron los $ 32.4 millones en 2022.

Tipo de asociación	Ganancia	Número de asociaciones
Contribuciones de la red de ex alumnos	$ 18.7 millones	12,500 contribuyentes de ex alumnos activos
Colaboraciones institucionales	$ 13.7 millones	42 asociaciones institucionales activas

Strategic Education, Inc. (STRA) - Canvas Business Model: Value Propositions

Flexible, self-paced degree completion for working adults through the FlexPath model is a core value, with healthcare programs comprising $\mathbf{75\%}$ of its enrollment as of Q3 2025. The U.S. Higher Education segment, which includes this offering, reported revenue of $\mathbf{\$213.1}$ million for the third quarter of 2025.

For low-cost, transferable general education courses via Sophia Learning, the value is seen in rapid adoption; average total subscribers increased approximately $\mathbf{42\%}$ year-over-year in Q3 2025. This platform contributes to the Education Technology Services (ETS) segment, which posted revenue of $\mathbf{\$38.3}$ million in Q3 2025, a $\mathbf{45.6\%}$ increase from the prior year.

The full-service education benefits administration for employers through Workforce Edge provides value by connecting directly to large workforces. As of September 30, 2025, Workforce Edge maintained $\mathbf{80}$ corporate agreements, covering approximately $\mathbf{3,870,000}$ employees. This employer focus is translating to enrollment gains, as employer-affiliated enrollment reached $\mathbf{32.7\%}$ of U.S. Higher Education enrollment in Q3 2025, up from $\mathbf{29.8\%}$ in the same period of 2024.

Industry-relevant degrees and non-degree tech training, which fall under the ETS umbrella along with Sophia Learning, are clearly a growth engine. The ETS segment delivered an income from operations of $\mathbf{\$16.0}$ million in Q3 2025. This segment, which includes the tech training offerings, is driving overall financial performance, contributing to a consolidated Adjusted EBITDA of $\mathbf{\$69.6}$ million for the third quarter of 2025.

The overarching pathway to economic mobility is supported by the company's overall financial strength and focus on career-aligned education. Healthcare programs alone represent $\mathbf{50\%}$ of all U.S. Higher Education enrollments. The company held cash, cash equivalents, and marketable securities totaling $\mathbf{\$182.6}$ million at the end of Q3 2025. Furthermore, Strategic Education, Inc. declared a regular, quarterly cash dividend of $\mathbf{\$0.60}$ per share, payable on December 8, 2025, with a total annual cash dividend of $\mathbf{\$2.40}$ per share.

Here's a quick look at the segment performance driving these value propositions for the third quarter of 2025:

Segment/Metric	Value (Q3 2025)	Year-over-Year Change
Consolidated Revenue	$\mathbf{\$319.9}$ million	$\mathbf{4.6\%}$ increase
Education Technology Services (ETS) Revenue	$\mathbf{\$38.3}$ million	$\mathbf{45.6\%}$ increase
ETS Income from Operations	$\mathbf{\$16.0}$ million	$\mathbf{48\%}$ increase
U.S. Higher Education (USHE) Domestic Students	$\mathbf{85,640}$	Down $\mathbf{893}$
Workforce Edge Corporate Agreements	$\mathbf{80}$	New partnerships driving growth

The value proposition is also reflected in the employer integration, where employer-affiliated enrollment now makes up $\mathbf{32.7\%}$ of U.S. Higher Education enrollment.

• FlexPath: $\mathbf{75\%}$ of enrollment in healthcare programs.
• Sophia Learning: Subscribers up $\mathbf{42\%}$ in Q3 2025.
• Workforce Edge: $\mathbf{80}$ agreements covering $\approx \mathbf{3.87}$ million employees.
• USHE Employer Affiliation: $\mathbf{32.7\%}$ of enrollment.
• Cash Position (Sept 30, 2025): $\mathbf{\$182.6}$ million.

The Education Technology Services segment, which houses Sophia Learning and Workforce Edge, saw its operating income jump to $\mathbf{\$16.0}$ million in Q3 2025, up $\mathbf{48\%}$ from the prior year.

Strategic Education, Inc. (STRA) - Canvas Business Model: Customer Relationships

Dedicated B2B relationship managers for corporate partners focus heavily on the Education Technology Services segment, specifically through Workforce Edge, which develops and maintains relationships for employee education benefits programs. As of June 30, 2025, Strategic Education, Inc. had a total of 80 corporate agreements under Workforce Edge. These agreements collectively covered approximately 3,870,000 employees. This contrasts with the figure from March 31, 2025, when there were 78 corporate agreements covering approximately 3,890,000 employees. The Education Technology Services segment revenue, which includes these partnerships, increased 49.6% to $36.7 million in the second quarter of 2025 compared to the second quarter of 2024.

The automated, self-service subscription model for Sophia Learning shows significant scaling, which is a key driver of the overall Education Technology Services segment growth. The segment revenue surged 46% in the third quarter of 2025. You can see the recent growth trajectory for Sophia Learning below:

Metric	Q1 2025	Q2 2025
Revenue	$34.3 million	$16.4 million
Year-over-Year Subscriber Growth	Approximately 37%	Approximately 40%
Year-over-Year Revenue Growth	45.2%	39.8%

The Q2 2025 Sophia Learning revenue of $16.4 million compared to $11.7 million for the same period in 2024. The operating income margin for the entire Education Technology Services segment stood at 41.0% in Q2 2025.

High-touch academic advising and student support services are reflected in the deepening integration within the U.S. Higher Education (USHE) segment through employer affiliation, which represents a structured, ongoing relationship. Employer affiliated enrollment in USHE hit an all-time high of 31.2% of USHE enrollment as of the second quarter of 2025, up from 29.2% in the second quarter of 2024. For the full year 2024, employer affiliated enrollment was 29.6% of USHE enrollment, up from 27.2% in 2023. The company also declared a regular, quarterly cash dividend of $0.60 per share, payable in December 2025, which is a direct financial commitment to its shareholder relationships.

Online student portals and mobile applications form the foundation for accessing course materials, which supports the growth seen across digital offerings. While specific portal usage statistics aren't public, the overall performance of the digital-first segments is telling. The Education Technology Services segment, which is entirely digital in its delivery, saw its revenue increase 49.6% year-over-year in Q2 2025. Furthermore, the company's consolidated revenue for Q3 2025 was $319.9 million, showing continued reliance on these scalable digital delivery methods.

• Workforce Edge corporate agreements as of June 30, 2025: 80.
• USHE Employer Affiliated Enrollment as of Q2 2025: 31.2%.
• Sophia Learning Q2 2025 Revenue: $16.4 million.
• Declared Quarterly Dividend for December 2025: $0.60 per share.

Strategic Education, Inc. (STRA) - Canvas Business Model: Channels

You're looking at how Strategic Education, Inc. gets its offerings-from degrees to skills courses-into the hands of students and employers as of late 2025. The channels are heavily weighted toward digital delivery, especially through the high-growth Education Technology Services (ETS) segment.

Direct online enrollment platforms for Strayer and Capella:

• The U.S. Higher Education (USHE) segment, which includes Capella University (solely online) and Strayer University, saw employer-affiliated enrollment reach 33% of total USHE enrollment in the third quarter of 2025.
• This employer-affiliated share represented an increase of 290 basis points from the prior year in Q3 2025.
• The healthcare portfolio within USHE, a critical area, generated total enrollment growth of 7% from the prior year in Q3 2025.
• Healthcare programs account for half of all USHE enrollments and almost 40% of enrollment coming from employer partners as of Q3 2025.
• For context on the overall base, USHE total student enrollment was 87,854 in the first quarter of 2025.

B2B platform sales via Workforce Edge to corporate HR departments:

Workforce Edge drives enrollment through corporate agreements, which is a key channel for both Strayer/Capella and Sophia Learning. The performance of this channel is reflected in the ETS segment results:

Metric	As of June 30, 2025 (Q2 End)	Q3 2025 Value	Year-over-Year Growth (Q3)
Workforce Edge Corporate Agreements	80	Not specified	Not specified
Employees Covered by Agreements	Approx. 3,870,000	Not specified	Not specified
ETS Segment Revenue	Not specified	$38 million	46%
ETS Segment Operating Income	Not specified	$16 million	48%

The penetration remains low, suggesting significant runway; for instance, in Q1 FY 2025, only about 0.05% of partner companies' workforce was enrolled. Also in Q1 2025, Workforce Edge drove over 2,300 students to Strayer or Capella.

Digital marketing and advertising to attract working adult students:

While specific marketing spend isn't itemized as a channel cost, the success of the digital-first ETS segment is the clearest indicator of effective digital outreach. The growth in Sophia Learning subscribers, which is heavily reliant on digital acquisition, shows this channel's effectiveness.

Limited physical campus locations, primarily for Strayer University:

• Strayer University utilizes a physical campus network alongside its online presence.
• Capella University operates solely online.
• No specific count of physical campus locations for Strayer University as of late 2025 was found in the provided data.

Direct-to-consumer platform for Sophia Learning subscriptions:

Sophia Learning, a self-paced online course catalog, is a significant direct-to-consumer and B2B-supported channel within ETS. Its growth metrics for 2025 are strong:

• Sophia Learning revenue in the second quarter of 2025 was $16.4 million, marking a 39.8% increase year-over-year.
• In the first quarter of 2025, revenue was $34.3 million, a 45.2% increase year-over-year.
• Average total subscribers in Q2 2025 increased approximately 40% compared to Q2 2024.
• Subscriber growth in Q1 2025 was approximately 37% year-over-year.

Finance: review Q3 2025 marketing spend allocation across digital channels by end of next week.

Strategic Education, Inc. (STRA) - Canvas Business Model: Customer Segments

You're looking at the core groups Strategic Education, Inc. (STRA) serves across its different educational platforms. This isn't just one type of student; it's a diversified base spanning degrees, corporate upskilling, and international markets. Honestly, understanding these segments is key to seeing where the near-term growth and the regulatory risks lie.

The U.S. Higher Education (USHE) segment, which includes Strayer University and Capella University, primarily targets working adult students seeking associate, bachelor's, and graduate degrees. For the second quarter of 2025, the total student enrollment in USHE was 86,339 students.

A major focus for USHE is corporate partnerships. Corporate employers seeking to manage and offer employee education benefits through the Workforce Edge platform are a critical segment. Employer affiliated enrollment remained strong, increasing approximately 8% from the prior year in the third quarter of 2025, and now represents 33% of all USHE enrollment. This is up 290 basis points from the prior year. As of June 30, 2025, Workforce Edge had 80 corporate agreements, covering approximately 3,870,000 employees collectively.

Within the USHE segment, healthcare professionals represent a significant portion of the student body. For the second quarter of 2025, the healthcare portfolio generated strong total enrollment growth, increasing 8% from the same period in 2024, and comprised 47% of USHE total enrollment. To be fair, the prompt mentioned half, but the latest reported figure is 47%.

Direct-to-consumer learners are served heavily through Sophia Learning, which offers low-cost online general education-level courses for college credit transfer. This part of the Education Technology Services (ETS) segment saw substantial growth. For the second quarter of 2025, average total subscribers at Sophia Learning increased approximately 40% from the same period in 2024. Sophia Learning revenue for that quarter was $16.4 million, up 39.8% year-over-year.

The Australia/New Zealand (ANZ) segment, which includes Torrens University, serves students in that region. This segment has faced headwinds from regulatory changes impacting international enrollment. For the second quarter of 2025, total student enrollment in ANZ was 18,524. The third quarter of 2025 saw total enrollment decrease 2% from the prior year, driven by those international restrictions.

Here's a quick look at the scale of these customer groups based on the latest available figures:

Customer Segment Group	Metric	Latest Reported Value (2025)	Reporting Period
USHE Students (Total)	Total Enrollment	86,339	Q2 2025
Corporate Employers (Workforce Edge)	Employer Affiliated Enrollment (% of USHE)	33%	Q3 2025
Healthcare Professionals (USHE Sub-Segment)	% of USHE Total Enrollment	47%	Q2 2025
Sophia Learning Learners (D2C)	Average Total Subscribers (YoY Growth)	40% increase	Q2 2025
Australia/New Zealand Students (ANZ)	Total Enrollment	18,524	Q2 2025

You can see the reliance on employer growth in the USHE segment is a clear strategy to offset declines in unaffiliated enrollment. The growth in Sophia Learning subscribers, up 40% in Q2 2025, shows the direct-to-consumer digital channel is definitely working well. What this estimate hides is the exact breakdown of associate versus bachelor's versus graduate degrees within the USHE total, but the segment focus is clear.

The key customer groups are:

• Working adult students in the U.S. seeking degrees.
• Corporate employers using education benefits administration.
• Direct-to-consumer learners using Sophia Learning.
• Students in Australia/New Zealand via Torrens University.
• Healthcare professionals, making up 47% of USHE enrollment in Q2 2025.

Finance: draft 13-week cash view by Friday.

Strategic Education, Inc. (STRA) - Canvas Business Model: Cost Structure

You're looking at the cost structure for Strategic Education, Inc. (STRA) based on the latest figures from the third quarter of 2025. Honestly, getting clean, isolated numbers for every single Business Model Canvas block from public filings can be tricky because the company aggregates costs into broad GAAP categories.

Here's a breakdown of the cost drivers we can quantify or infer from the Q3 2025 reporting period.

• Personnel costs, faculty, staff, and administrative salaries are largely embedded within Instructional and support costs.
• Marketing and student acquisition expenses fall under General and administration expenses.
• Technology development and maintenance costs are reflected in the expense growth of the Education Technology Services (ETS) segment.
• Facilities and operating costs for physical campuses and offices are included in Instructional and support costs, excluding corporate office costs.
• Bad debt expense is explicitly tracked as a percentage of revenue.

The company is also executing a broader productivity initiative, targeting $100 million in cost savings through 2027.

For the U.S. Higher Education (USHE) segment specifically, which houses many of the traditional instructional and facility costs, operating expenses saw a notable reduction in Q3 2025.

Here's the quick math on the known cost-related metrics for the third quarter of 2025:

Cost Component / Metric	Financial Figure (Q3 2025)	Context / Related Segment
Bad Debt Expense	4.7% of Revenue	Consolidated
USHE Operating Expense Change (YoY)	Decrease of $6 million	Includes personnel, facilities, and instructional support
USHE Operating Expense Change (YoY)	Reduction of 3%	Corresponds to the $6 million decrease
ETS Segment Expense Growth (YoY)	Increase of 44%	Reflects investment in technology and services
ETS Segment Revenue	$38 million	The segment where technology investment is concentrated

To be fair, the General and administration expenses category includes salaries for corporate functions like finance, HR, legal, regulatory compliance, and marketing, plus the costs of advertising and producing marketing materials, but a specific dollar amount for marketing/student acquisition alone isn't broken out in the same way as segment revenue.

Similarly, technology development and maintenance costs are not isolated but are a major driver of the 44% increase in expenses within the ETS division, which generated $38 million in revenue for the quarter.

Finance: draft 13-week cash view by Friday.

Strategic Education, Inc. (STRA) - Canvas Business Model: Revenue Streams

You're looking at the core ways Strategic Education, Inc. (STRA) brings in money as of late 2025. It's a mix of traditional tuition and newer tech-driven services.

The primary revenue drivers are segmented across the business operations, with the Education Technology Services (ETS) segment showing significant year-over-year growth in Q3 2025.

Here is a breakdown of the key revenue components for the third quarter of 2025:

Revenue Stream Category	Q3 2025 Revenue Amount
U.S. Higher Education Segment Revenue	$213.1 million
Australia/New Zealand Segment Revenue	$68.6 million
Education Technology Services (ETS) Segment Revenue	$38.3 million

The Education Technology Services segment revenue of $38.3 million in Q3 2025 is fueled by specific product lines within that segment. This growth is not just abstract; it comes from concrete services you can track.

Drilling down into the ETS revenue sources for the third quarter of 2025, we see:

• U.S. Higher Education tuition and fees: $213.1 million in Q3 2025.
• Education Technology Services revenue: $38.3 million in Q3 2025.
• Australia/New Zealand segment tuition and fees: $68.6 million in Q3 2025.
• Subscription revenue from Sophia Learning: $17.8 million in Q3 2025.

The remaining portion of the ETS revenue comes from the employer-focused services. The growth in this area is notable, driven by new corporate arrangements.

Regarding the employer-facing revenue streams within ETS, the figures are:

• Administrative fees from Workforce Edge employer partnerships contributed to the overall ETS revenue growth, though a standalone administrative fee amount isn't specified for Q3 2025.
• The growth in ETS revenue was driven by increases in Sophia Learning subscriptions and revenue from new Workforce Edge employer partnerships.

To be fair, the U.S. Higher Education revenue of $213.1 million was primarily driven by higher revenue per student, even as total enrollment saw a slight decline.