Strategic Education, Inc. Reports Fourth Quarter 2021 Results

About this update from Strategic Education, Inc.

[{"type":"text","content":" HERNDON, Va.--(BUSINESS WIRE)--\nStrategic Education, Inc. (Strategic Education) (NASDAQ: STRA) today announced financial results for the period ended December 31, 2021.\n\n“We are very proud of the organization’s commitment over the past year to the success of our students and our mission to enable economic mobility,” said Karl McDonnell, Chief Executive Officer of Strategic Education. “As we enter 2022, we are focused on investing in opportunities within our diversified portfolio, including more growth in the Education Technology Services and Australia/New Zealand segments and continued recovery in our U.S. Higher Education segment.”\n\nSTRATEGIC EDUCATION CONSOLIDATED RESULTS\n\n[Note: Strategic Education’s financial results for any periods ended prior to November 3, 2020 do not include the financial results of the Australia/New Zealand acquisition and are therefore not directly comparable.]\n\nThree Months Ended December 31\n\n\nRevenue increased 1.7% to $272.1 million compared to $267.5 million for the same period in 2020. Adjusted revenue, which is a non-GAAP financial measure, decreased 2.1% to $272.8 million compared to $278.8 million for the same period in 2020. For more details on non-GAAP financial measures, refer to the information in the Non-GAAP Financial Measures section of this press release.\n\n\n\nIncome from operations was $27.9 million or 10.2% of revenue, compared to $3.6 million or 1.3% of revenue for the same period in 2020. Adjusted income from operations, which is a non-GAAP financial measure, was $37.9 million in 2021 compared to $47.1 million for the same period in 2020. The adjusted operating income margin, which is a non-GAAP financial measure, was 13.9% compared to 16.9% for the same period in 2020.\n\n\n\nNet income was $21.7 million in 2021 compared to $5.9 million for the same period in 2020. Adjusted net income, which is a non-GAAP financial measure, was $27.7 million compared to $33.4 million for the same period in 2020.\n\n\n\nAdjusted EBITDA, which is a non-GAAP financial measure, was $56.1 million compared to $64.2 million for the same period in 2020.\n\n\n\nDiluted earnings per share was $0.90 compared to $0.25 for the same period in 2020. Adjusted diluted earnings per share, which is a non-GAAP financial measure, decreased to $1.15 from $1.39 for the same period in 2020. Diluted weighted ...

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