Strategic Education, Inc. (STR): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide de l'enseignement supérieur en évolution, Strategic Education, Inc. (STR) apparaît comme une force transformatrice, réinvenant l'apprentissage de l'ère numérique. En mélangeant parfaitement une technologie innovante, des programmes axés sur la carrière et des plateformes en ligne flexibles, le STR révolutionne comment les professionnels du travail et les apprenants adultes acquièrent des connaissances et des compétences. Leur toile complète du modèle commercial révèle une approche stratégique qui va au-delà de l'éducation traditionnelle, offrant des voies personnalisées, accessibles et abordables à la croissance professionnelle et à l'avancement académique.

Strategic Education, Inc. (STR) - Modèle commercial: partenariats clés

Fournisseurs de plate-forme d'apprentissage en ligne

Strategic Education, Inc. collabore avec les plateformes d'apprentissage en ligne suivantes:

Plate-forme	Détails du partenariat	Année établie
Parcours	Partage de contenu du cours	2021
EDX	Programmes d'apprentissage numérique	2019

Formation d'entreprise et partenaires de développement de la main-d'œuvre

Les partenariats clés de l'entreprise comprennent:

• Programme de formation des services Web d'Amazon (AWS)
• Collaboration de développement professionnel de Microsoft
• Cisco Networking Academy Partnership

Institutions et universités universitaires

Institution	Type de partenariat	Impact des inscriptions
Campus mondial de l'Université du Maryland	Collaboration du programme d'études	12 500 étudiants
Université Strayer	Programmes académiques intégrés	8 700 étudiants

Provideurs de solutions de technologie et de logiciels

Les partenariats technologiques stratégiques comprennent:

• Blackboard Learning Learning Management System
• Intégration CRM Salesforce
• Zoom communications vidéo

Organes d'accréditation et de réglementation

Organisation	Type d'accréditation	Statut de conformité
Commission d'enseignement supérieur	Accréditation institutionnelle	Compliance complète
Commission d'accréditation à distance	Certification d'éducation en ligne	Certification active

Strategic Education, Inc. (STR) - Modèle commercial: activités clés

Élaborer et offrir des programmes d'éducation en ligne

Strategic Education, Inc. opère par le biais de plusieurs marques éducatives, notamment Capella University et Strayer University. Au troisième rang 2023, la société a rapporté:

Métrique	Valeur
Inscription totale des étudiants	54 700 étudiants
Offres de programmes en ligne	Programmes de 190 degrés et de certificats
Sections de cours en ligne annuelles	8 400 sections de cours

Conception du curriculum et création de contenu académique

L'entreprise se concentre sur le développement du contenu académique aligné sur l'industrie dans plusieurs disciplines:

• Administration des affaires
• Informatique
• Gestion des soins de santé
• Cybersécurité
• Psychologie

Recrutement des étudiants et gestion des inscriptions

Statistiques d'inscription pour 2023:

Catégorie	Nombre
Nouvelles inscriptions aux étudiants	16 200 étudiants
Taux de rétention	57.3%
Dépenses marketing pour le recrutement	84,3 millions de dollars

Maintenance de la plate-forme d'apprentissage numérique

Détails de l'infrastructure technologique:

• Système de gestion d'apprentissage basé sur le cloud
• Assistance technique 24/7
• Compatibilité d'apprentissage mobile

Services de carrière et soutien au développement professionnel

Métriques de soutien à la carrière pour 2023:

Service	Statistique
Séances de coaching de carrière	12 500 sessions individuelles
Aide au placement	4 300 étudiants soutenus
Événements de réseautage professionnel	87 événements virtuels

Strategic Education, Inc. (STR) - Modèle commercial: Ressources clés

Infrastructure de technologie d'apprentissage en ligne

Strategic Education, Inc. exploite une plate-forme d'apprentissage numérique complète avec les spécifications suivantes:

Composant technologique	Spécification
Infrastructure cloud	Amazon Web Services (AWS) Hébergement de niveau d'entreprise
Système de gestion de l'apprentissage	Plateformes numériques de Strayer et Capella University propriétaires
Investissement technologique annuel	42,3 millions de dollars en 2022

Professeur expérimenté et personnel universitaire

Composition en dotation en 2022:

• Total des professeurs: 1 287 professionnels
• Faculté à temps plein: 673
• Faculté à temps partiel: 614
• Pourcentage moyen de doctorat de faculté: 68%

Contenu du cours numérique et matériel d'apprentissage

Catégorie de contenu	Cours totaux	Disponibilité en ligne
Programmes de premier cycle	127 programmes distincts	100% accès numérique
Programmes d'études supérieures	83 programmes distincts	100% accès numérique

Support des étudiants et systèmes administratifs

Mesures de ressources administratives clés:

• Personnel total de soutien aux étudiants: 512
• Ratio d'étudiant / d'appoint: 35: 1
• 24/7 canaux de support en ligne: 4 plateformes distinctes

Capacités de cybersécurité et de protection des données

Métrique de sécurité	Spécification
Investissement annuel de cybersécurité	8,7 millions de dollars en 2022
Norme de chiffrement des données	Cryptage AES 256 bits
Certifications de conformité	Ferpa, RGPD, CCPA

Strategic Education, Inc. (STR) - Modèle d'entreprise: propositions de valeur

Options d'éducation en ligne flexibles et accessibles

Strategic Education, Inc. offre une éducation en ligne par le biais de l'Université Capella et de l'Université Strayer, en desservant 57 100 étudiants en 2022. La société fournit Programmes de diplôme en ligne à 100% à travers plusieurs niveaux académiques.

Catégorie de programme en ligne	Nombre de programmes
Diplômes de premier cycle	86
Diplômes diplômés	41
Programmes de doctorat	15

Programmes de diplômes et de certificats axés sur la carrière

L'entreprise se concentre sur l'éducation pertinente par la carrière avec des programmes conçus pour l'avancement professionnel.

• Programmes d'administration des affaires
• Diplômes en technologie de l'information
• Certificats de gestion des soins de santé
• Spécialisations de la cybersécurité

Alternatives sur l'enseignement supérieur abordable

L'éducation stratégique maintient des taux de scolarité compétitifs par rapport aux universités traditionnelles. Les frais de scolarité annuels moyens pour les programmes de premier cycle: 12 600 $.

Catégorie de frais de scolarité	Coût annuel
Programmes de premier cycle	$12,600
Programmes d'études supérieures	$16,800

Expériences d'apprentissage personnalisées

Offre des technologies d'apprentissage adaptatives et un soutien académique individualisé avec un ratio étudiant / professeur de 14: 1.

Développement des compétences professionnelles pour les adultes qui travaillent

Fournit une planification flexible aux professionnels qui travaillent avec des options de cours en soirée et en week-end.

Statut d'emploi aux étudiants	Pourcentage
Étudiants de travail à temps plein	68%
Étudiants de travail à temps partiel	22%

Strategic Education, Inc. (STR) - Modèle d'entreprise: relations avec les clients

Services de soutien aux étudiants personnalisés

Strategic Education, Inc. fournit un soutien personnalisé via plusieurs canaux:

Canal de support	Taux d'engagement annuel	Temps de réponse moyen
Conseils académiques individuels	78.4%	24 heures
Coaching de réussite des étudiants	65.2%	48 heures
Support technique	92.1%	12 heures

Conseil académique en ligne

Les plateformes de conseil académique numérique comprennent:

• Planification de consultation virtuelle
• Suivi des progrès académiques en temps réel
• Recommandations de parcours de diplôme personnalisés

Conseil de carrière et aide au placement

Service	Taux d'utilisation	Succès de placement moyen
Évaluation de carrière	62.7%	N / A
Développement de CV	57.3%	N / A
Support de placement	48.9%	73.6%

Réseau des anciens et connexions professionnelles

L'éducation stratégique maintient des plateformes de réseautage professionnels avec les mesures suivantes:

• Réseau total des anciens: 127 400 membres
• Connexions professionnelles actives: 89 300
• Événements de réseautage annuels: 42

Engagement continu via des plates-formes numériques

Plate-forme numérique	Utilisateurs actifs mensuels	Temps d'engagement moyen
Application d'apprentissage mobile	54,200	37 minutes
Portail étudiant en ligne	98,700	52 minutes
Communautés d'apprentissage social	42,500	24 minutes

Strategic Education, Inc. (STR) - Modèle commercial: canaux

Site Web de l'entreprise et portail d'inscription en ligne

Strategic Education, Inc. a déclaré 51 000 étudiants au total inscrits en 2022. Portail d'inscription en ligne a traité 38 475 demandes d'étudiants au cours de l'exercice 2022.

Type de canal	Métriques de performance annuelles	Taux de conversion
Portail d'inscription en ligne	38 475 applications traitées	Taux d'inscription de 72,3%
Site Web de l'entreprise	1,2 million de visiteurs uniques	4,1% de génération de leads

Marketing numérique et médias sociaux

Les dépenses de marketing numérique pour l'éducation stratégique ont atteint 14,3 millions de dollars en 2022, les réseaux sociaux générant 22 650 élèves potentiels.

• Budget publicitaire Facebook: 4,2 millions de dollars
• Dépenses de marketing LinkedIn: 2,1 millions de dollars
• Investissement sur Google Ads: 5,6 millions de dollars

Événements de recrutement de l'éducation

A accueilli 327 événements de recrutement virtuels et en personne en 2022, attirant 18 750 étudiants potentiels.

Type d'événement	Nombre d'événements	Participants
Événements virtuels	214	12 450 participants
Événements en personne	113	6 300 participants

Réseaux de référence de partenariat stratégique

Maintenu 87 partenariats institutionnels actifs générant 15 600 références d'étudiants au cours de l'exercice 2022.

• Réseaux de partenariat d'entreprise: 42 partenariats
• Collaborations des établissements académiques: 35 partenariats
• Références d'association professionnelle: 10 partenariats

Équipes directes des ventes et de la sensibilisation des étudiants

L'équipe de vente directe comprenait 276 spécialistes du recrutement à temps plein, générant 128,7 millions de dollars de revenus d'inscription en 2022.

Métrique de l'équipe de vente	Données de performance
Représentants des ventes totales	276
Revenu moyen par représentant	$466,305
Contacts totaux de sensibilisation	94 500 étudiants potentiels

Strategic Education, Inc. (STR) - Modèle commercial: segments de clients

Professionnels de travail à la recherche de progrès de carrière

Strategic Education, Inc. cible 12,5 millions de professionnels aux États-Unis à la recherche de progrès de carrière grâce à des programmes d'éducation en ligne.

Caractéristiques du segment	Données statistiques
Tranche d'âge	25-44 ans
Revenu annuel moyen	$68,700
Pourcentage intéressé par l'éducation en ligne	43%

Apprenants adultes poursuivant l'enseignement supérieur

La société dessert environ 7,3 millions d'apprenants adultes à la recherche d'options d'enseignement supérieur flexibles.

• Âge médian: 32 ans
• Taux d'inscription à temps partiel: 62%
• Préférence d'apprentissage en ligne: 78%

Changeurs de carrière et modernistes de compétences

L'éducation stratégique aborde 4,6 millions de professionnels qui cherchent à transmettre des carrières ou à mettre à niveau les compétences.

Catégories de mise à niveau des compétences	Taille du marché
Compétences technologiques	1,9 million de professionnels
Gestion des affaires	1,4 million de professionnels
Administration des soins de santé	850 000 professionnels

Étudiants internationaux

L'éducation stratégique cible 1,1 million d'étudiants internationaux à la recherche de possibilités d'éducation aux États-Unis.

• Top pays d'origine: Inde, Chine, Corée du Sud
• Dépenses annuelles moyennes des frais de scolarité: 24 300 $
• Inscription du programme en ligne: 35%

Participants du programme de formation d'entreprise

L'entreprise dessert des marchés de formation d'entreprise d'une valeur de 370 milliards de dollars par an.

Segments de formation d'entreprise	Participants annuels
Sociétés technologiques	425 000 employés
Organisations de soins de santé	310 000 employés
Services financiers	280 000 employés

Strategic Education, Inc. (STR) - Modèle d'entreprise: Structure des coûts

Infrastructure et maintenance technologiques

En 2022 rapports financiers, Strategic Education, Inc. a investi 24,3 millions de dollars dans les coûts d'infrastructure technologique et de maintenance. La ventilation comprend:

Catégorie	Coût annuel
Services de cloud computing	8,7 millions de dollars
Le soutien informatique et la cybersécurité	6,2 millions de dollars
Système de gestion de l'apprentissage	5,4 millions de dollars
Mises à niveau matériel et logiciels	4 millions de dollars

Compense des professeurs et du personnel

Les frais de rémunération totale pour 2022 étaient de 187,6 millions de dollars, avec la répartition suivante:

• Salaires des professeurs à temps plein: 112,4 millions de dollars
• Rémunération des professeurs auxiliaire: 45,2 millions de dollars
• Salaires du personnel administratif: 30 millions de dollars

Marketing et acquisition d'étudiants

Les dépenses de marketing pour 2022 ont totalisé 42,5 millions de dollars, structurée comme suit:

Canal de marketing	Dépenses annuelles
Marketing numérique	22,1 millions de dollars
Publicité traditionnelle	12,3 millions de dollars
Événements de recrutement	8,1 millions de dollars

Développement de contenu du cours

Les coûts de développement des cours et de conception des programmes pour 2022 étaient de 18,7 millions de dollars, notamment:

• Conception du curriculum: 9,3 millions de dollars
• Création de contenu: 6,4 millions de dollars
• Consultations d'experts en la matière: 3 millions de dollars

Frais de conformité et d'accréditation

Les coûts liés à la conformité en 2022 s'élevaient à 7,6 millions de dollars, distribués à travers:

Catégorie de conformité	Dépenses annuelles
Maintenance d'accréditation	3,2 millions de dollars
Conformité réglementaire	2,7 millions de dollars
Services juridiques et d'audit	1,7 million de dollars

Strategic Education, Inc. (STR) - Modèle commercial: Strots de revenus

Frais de scolarité et de cours

Strategic Education, Inc. a déclaré des revenus totaux de 638,1 millions de dollars pour l'exercice 2022. Les frais de scolarité et de cours constituaient la principale source de revenus.

Catégorie de revenus	Montant (2022)	Pourcentage du total des revenus
Frais de scolarité de premier cycle	412,3 millions de dollars	64.6%
Frais de scolarité	185,7 millions de dollars	29.1%
Frais de programme en ligne	40,1 millions de dollars	6.3%

Contrats de formation d'entreprise

Les revenus de formation des entreprises pour 2022 ont atteint 47,5 millions de dollars, ce qui représente 7,4% du total des revenus de l'entreprise.

• Les principaux partenaires d'entreprise comprennent les entreprises du Fortune 500
• Valeur du contrat moyen: 2,3 millions de dollars par client d'entreprise
• Programmes de formation axés sur la technologie, la gestion et les compétences professionnelles

Programmes de certification professionnelle

Les revenus de certification professionnelle ont totalisé 22,6 millions de dollars en 2022.

Catégorie de certification	Revenu	Nombre de certifications
Certifications informatiques	12,4 millions de dollars	4 750 certifications
Certifications commerciales	10,2 millions de dollars	3 600 certifications

Financement de l'éducation du gouvernement

Le financement de l'éducation lié au gouvernement s'élevait à 85,6 millions de dollars en 2022.

• Subventions fédérales: 62,3 millions de dollars
• Financement éducatif de l'État: 23,3 millions de dollars

Partenariats des anciens et institutionnels

Le partenariat et les revenus liés aux anciens ont atteint 32,4 millions de dollars en 2022.

Type de partenariat	Revenu	Nombre de partenariats
Contributions du réseau des anciens	18,7 millions de dollars	12 500 contributeurs des anciens actifs
Collaborations institutionnelles	13,7 millions de dollars	42 partenariats institutionnels actifs

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.