SM STRATEGIC EDUCATION INC Q3 2020 Results November 5, 2020 Forward-Looking Statements Statements Under the Private Securities Litigation Reform Act of 1995 Statements in this presentation are "forward-looking statements" under the federal securities laws. Such statements may be identified by the use of words such as "expect," "estimate," "assume," "believe," "anticipate," "may," "will," "forecast," "outlook," "plan," "project," "potential" and other similar words, and include all statements that are not hi ...

Financial Data and Key Metrics Changes - In Q3 2020, the company reported a 1% increase in enrollment, a 1% decrease in revenue, a 3% decrease in pretax income, and an 8% decrease in adjusted earnings per share [17][18] - For the full year 2020, the company anticipates a 2% increase in enrollment, flat revenue of $1 billion, a 3% increase in pretax income, and flat earnings per share [18][19] - The company expects to generate approximately $270 million in revenue and $60 million in EBITDA from the Australia/New Zealand segment in 2021, representing 10% growth for each [26] Business Line Data and Key Metrics Changes - Strayer University experienced a 28% decline in new students and a 1% decline in total enrollment, while Capella University saw a 4% increase in both new and total enrollment [15][16] - The company has organized its business into three distinct operating divisions: U.S. Higher Education, Alternative Learning, and Australia/New Zealand [20] Market Data and Key Metrics Changes - The company noted that the overall student enrollment in universities in fall 2020 was down about 2%, indicating a broader trend affecting the market [51] - The company aims to increase employer solutions enrollments from 20% to 30% of the student population in 2021, representing a 50% increase [23] Company Strategy and Development Direction - The company is committed to increasing investments in growth areas, including employer solutions and digital enablement, while also implementing expense rationalization to maintain financial strength [19][20] - The company has a long-term vision to convert 100% of tuition funding from Title IV to private sector funding through employer partnerships [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that Strayer's demand will eventually recover to pre-pandemic levels, particularly as demand for high-quality digital learning increases [31] - The company plans to focus on maintaining high academic quality and successfully integrating the newly acquired Torrens University and related assets [31] Other Important Information - The company has initiated several scholarship programs, which are expected to result in a 2% decrease in revenue per student for the full year 2020 [17] - The company plans to take a restructuring charge of approximately $30 million between Q3 2020 and Q1 2021 [20] Q&A Session Summary Question: What is the tracking of new enrollment trends at Strayer University and Capella University? - Management indicated that new student enrollment trends at both universities are largely in line with Q3 [37] Question: Why did Capella outperform initial expectations? - Management attributed Capella's strong performance to its student body being more established professionally, with a higher percentage of graduate students [38][40] Question: What are the retention trends at both schools? - Strayer experienced a slight decline in retention, while Capella's retention remained stable [41] Question: Can you provide details on the Workforce Edge product? - Workforce Edge is a technology platform that allows corporations to market education benefits to their workforce [42][43] Question: How does Sophia's growth compare to competitors? - Management expects significant growth for Sophia, projecting a 300% increase next year [46] Question: What is the growth trend for corporate programs? - Employer solutions-related enrollments at Capella have been strong, particularly in healthcare, with year-over-year increases exceeding 30% [47] Question: How does Strayer's market share compare to competitors? - Management noted that while Strayer's new student enrollment has declined, overall demand in the market is down due to the pandemic [49][51]

STRATEGIC EDUCATION INC SM Second Quarter 2020 Earnings Release July 29, 2020 Forward-Looking Statements Statements Under the Private Securities Litigation Reform Act of 1995 Statements in this presentation are "forward-looking statements" under the federal securities laws. Such statements may be identified by the use of words such as "expect," "estimate," "assume," "believe," "anticipate," "may," "will," "forecast," "outlook," "plan," "project," "potential" and other similar words, and include all statemen ...

Strategic Education, Inc. (NASDAQ:STRA) Q2 2020 Earnings Conference Call July 29, 2020 10:00 AM ET Company Participants Terese Wilke - Manager-Investor Relations Robert Silberman - Executive Chairman Karl McDonnell - President and Chief Executive Officer Daniel Jackson - Executive Vice President and Chief Financial Officer Conference Call Participants Jeff Silber - BMO Capital Markets Chris Howe - Barrington Research Greg Pendy - Sidoti & Company Randy Heck - Goodnow Investment Operator Welcome to Strategic ...

| --- | --- | |-------|-----------------------------------------------------| | | | | | | | | FIRST QUARTER 2020 EARNINGS RELEASE April 29, 2020 | Forward-Looking Statements Statements Under the Private Securities Litigation Reform Act of 1995 Statements in this presentation are "forward-looking statements" under the federal securities laws. Such statements may be identified by the use of words such as "expect," "estimate," "assume," "believe," "anticipate," "may," "will," "forecast," "outlook," "plan," "pr ...

Strategic Education, Inc. (NASDAQ:STRA) Q1 2020 Earnings Conference Call April 29, 2020 10:00 AM ET Company Participants Terese Wilke - Manager-Investor Relations Robert Silberman - Executive Chairman Karl McDonnell - President and Chief Executive Officer Daniel Jackson - Executive Vice President and Chief Financial Officer Conference Call Participants Jeff Silber - BMO Capital Markets Alex Paris - Barrington Research Operator Welcome to Strategic Education First Quarter 2020 Earnings Call. I will now turn ...