STRAStrategic Education, Inc.

$2B

Q4 2018 Earnings

Consumer Defensive Education & Training Services

Income Statement

Revenue

$242M+104.0% YoY

Gross Profit

$124M51.1% margin

Operating Income

$19M7.8% margin

Net Income

$22M9.3% margin

EPS (Diluted)

$1.02

QoQ Revenue Growth

+50.4%

Cash Flow

Operating Cash Flow

$62M

Free Cash Flow

$50M

Stock-Based Comp.

$4M

Balance Sheet

Total Assets

$1.7B

Total Liabilities

$236M

Stockholders' Equity

$1.4B

Cash & Equivalents

$312M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$242M	$119M	+104.0%
Gross Profit	$124M	$54M	+131.0%
Operating Income	$19M	$12M	+61.5%
Net Income	$22M	-$6M	+445.7%

Revenue Segments

Strayer Segment

$127M53%

Capella Segment

$111M46%

All Other Segments

$4M1%

STRA Q4 2018 Earnings — Strategic Education, Inc. Revenue & Financial Results | Market Cap Arena