Strategic Education, Inc. (SEI) reported significant financial growth in its latest 10-Q filing for the quarter and nine months ended September 30, 2024. The company achieved consolidated revenues of $305.96 million for Q3 2024, a 7.4% increase from $285.94 million in Q3 2023. For the nine months ended September 30, 2024, revenues rose to $908.47 million, up from $830.22 million in the same period of the previous year.

The U.S. Higher Education (USHE) segment, which includes Capella University and Strayer University, contributed $207.7 million in revenue for Q3 2024, reflecting a 2.9% increase from $201.8 million in Q3 2023. The Australia/New Zealand segment also saw growth, with revenues increasing by 13.7% to $71.9 million. The Education Technology Services segment reported a notable 26.2% increase in revenue, reaching $26.3 million.

Operating income for Q3 2024 was $36.33 million, compared to $25.63 million in Q3 2023, while net income rose to $27.75 million from $18.46 million year-over-year. For the nine-month period, income from operations surged to $119.61 million, a significant increase from $41.10 million in the same period of 2023, with net income reaching $87.35 million, up from $30.66 million.

The company’s total assets increased to $2.19 billion as of September 30, 2024, from $2.13 billion at the end of 2023. Cash and cash equivalents also rose to $195.89 million, up from $168.48 million. However, total current liabilities increased to $285.84 million from $209.62 million, leading to a rise in total stockholders’ equity to $1.72 billion from $1.65 billion.

Strategic Education has made strategic decisions impacting its operations, including a focus on enhancing employer relationships through its Education Technology Services segment, which has significantly contributed to student enrollment and revenue. The company has also been active in managing its costs, with total expenses for the nine months ending September 30, 2024, slightly decreasing to $788.87 million from $789.13 million in the prior year.

In terms of capital management, the company declared a quarterly cash dividend of $0.60 per share in July 2024, totaling $44.3 million in cash dividends paid for the first three quarters of 2024. Additionally, SEI repurchased $5 million in common stock during Q3 2024, with a remaining authorization of $235 million for further repurchases through the end of 2024.

Overall, Strategic Education's financial performance reflects a robust growth trajectory, driven by increased enrollment and strategic initiatives across its educational segments.