The following is a summary of the Strategic Education, Inc. (STRA) Q3 2024 Earnings Call Transcript:

Financial Performance:

• For Q3 2024, SEI reported a revenue increase of 6% to $304 million, driven by growth across all business segments.

• Operating income grew by 13%, reaching $37 million, with an operating margin of 12.1%.

• Adjusted earnings per share increased by 19% to $1.15.

• The Education Technology Services segment saw a revenue growth of 26% and a 30% increase in operating income.

Business Progress:

• Continued growth in U.S. Higher Education, particularly through employer-affiliated enrollment, which grew by 13%.

• Strategic corporate partnerships contributed significantly, particularly with the inclusion of a new partnership with one of the nation's largest private sector employers.

• Expansion in the Australia and New Zealand segment, with enrollment up by 5% and revenue per student rising by 6%.

• Introduction of the Sophia Learning portal and new partnerships under the Workforce Edge platform.

Opportunities:

• Expansion and enhancement of strategic corporate partnerships and employer-affiliated enrollment programs.

• Growth potential in the Australia and New Zealand regions, despite potential regulatory changes.

Risks:

• Proposed international student caps in Australia may impact enrollment numbers and growth dynamics in the region.

• Dependency on continued employer participation and enrollment in corporate partnership programs.

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