Question · Q1 2026
Alex Parrish sought clarification on the timing of the 10,000-15,000 enrollment shortfall (before or after the count date), the implications for Q2 revenue guidance given the 11.3% fall term enrollment growth, the expected in-year enrollment trajectory, and the revised outlook for revenue per enrollment.
Answer
CEO James Rhyu clarified that the vast majority of the 10,000-15,000 enrollment impact occurred in the first fiscal quarter (through September 30th). He explained that Q2 revenue growth appears lower due to a tougher year-over-year comparison against rising enrollments in the prior year, and that Stride does not anticipate in-year enrollment growth from the beginning to the end of the current fiscal year. CFO Donna Blackman added that while the funding environment remains positive, state mix and the absence of the prior year's in-year enrollment growth adjustments lead to a revised flat outlook for revenue per enrollment.