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    Stride Inc (LRN)

    Updated May 14, 2025, 5:32 PM UTC
    Income Statement - MetricFY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025Q2 2025Q3 2025
    Revenues (USD, thousands)480,181504,868520,837534,183.002,040,069551,084 ,587,211 ,613,376 ,
    Instructional costs and services (USD, thousands)307,293303,694319,508345,971.001,276,466335,231 ,347,353 ,364,086 ,
    Gross margin (USD, thousands)172,888201,174201,329188,212.00763,603215,853 ,239,858 ,249,290 ,
    Selling, general, and administrative expenses (USD, thousands)169,568116,885113,016114,534.00514,003168,509 ,114,758 ,118,504 ,
    Income from operations (USD, thousands)3,32084,28988,31373,678.00249,60047,344 ,125,100 ,130,786 ,
    Interest expense, net (USD, thousands)(2,068)(2,022)(2,404)(2,318.00)(8,812)(2,353) ,(2,670) ,(2,787) ,
    Other income, net (USD, thousands)5,1656,5387,6787,519.0026,9008,778 ,7,330 ,7,360 ,
    Income before income taxes and income (loss) from equity method investments (USD, thousands)6,41788,80593,58778,879.00267,68853,769 ,129,760 ,135,359 ,
    Income tax expense (USD, thousands)(1,536)(22,190)(24,657)(16,099.00)(64,482)(11,277) ,(33,361) ,(35,450) ,
    Income (loss) from equity method investments (USD, thousands)(3)2217572.00977(1,610) ,(6) ,(563) ,
    Net income attributable to common stockholders (USD, thousands)4,87866,83669,68762,782.00204,18340,882 ,96,393 ,99,346 ,
    Net income attributable to common stockholders per share: Basic (USD)0.111.571.631.484.790.952.242.31
    Net income attributable to common stockholders per share: Diluted (USD)0.111.541.601.444.690.942.032.02
    Weighted average shares used in computing per share amounts: Basic (shares)42,500,01142,561,03542,684,561(85,119,019.00)42,626,58842,868,31043,017,19043,092,682
    Weighted average shares used in computing per share amounts: Diluted (shares)42,982,38543,463,76343,655,841(86,566,548.00)43,535,44143,708,96747,462,68849,181,728
    Balance Sheet - MetricFY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025Q2 2025Q3 2025
    500,614 [1157408_0001558370-24-011134_lrn-20240630x10k.htm:74]---317,765317,765515,049528,547-
    Accounts receivable, net of allowance (USD, thousands)629,600509,635577,792472,754472,754675,709582,548699,817
    Inventories, net (USD, thousands)21,75219,50621,03836,74836,74822,31920,70722,375
    Prepaid expenses (USD, thousands)50,35035,52940,12729,16429,16453,90251,36749,733
    Marketable securities (USD, thousands)---191,672191,672204,473202,447195,144
    Other current assets (USD, thousands)123,948169,815193,54714,49414,49417,15816,36117,361
    Total current assets (USD, thousands)1,080,2761,088,8721,209,0811,245,4461,245,4461,291,3261,388,4791,512,977
    Operating lease right-of-use assets, net (USD, thousands)64,58860,68757,72554,50354,50351,60948,56346,011
    Property and equipment, net (USD, thousands)61,08560,55557,21350,85650,85684,80184,68588,490
    Capitalized software, net (USD, thousands)82,04681,41383,32081,95281,95277,18177,29976,932
    Capitalized curriculum development costs, net (USD, thousands)50,11450,29051,45153,23253,23252,75453,75955,860
    Intangible assets, net (USD, thousands)71,75568,76864,66860,28260,28257,71455,17052,759
    Goodwill (USD, thousands)246,676246,676246,676246,676246,676246,676246,676246,676
    Deferred tax asset (USD, thousands)1,7669,49914,7737,2007,200--3,363
    Deposits and other assets (USD, thousands)109,339115,436107,306120,318120,318109,900116,150124,876
    Total assets (USD, thousands)1,767,6451,782,1961,892,2131,920,4651,920,4651,971,9612,070,7812,207,944
    Accounts payable (USD, thousands)74,58631,31937,15640,97040,97050,05730,89640,204
    Accrued liabilities (USD, thousands)50,83456,33467,67160,79660,79656,03082,66471,185
    Accrued compensation and benefits (USD, thousands)40,01443,07662,38364,87864,87840,46944,50868,959
    Deferred revenue (USD, thousands)83,92064,23770,90735,74235,74232,33016,79732,902
    Current portion of finance lease liability (USD, thousands)35,06533,10830,99129,14629,14639,13343,21244,011
    Current portion of operating lease liability (USD, thousands)14,71712,82812,85312,74812,74812,63612,58312,306
    Total current liabilities (USD, thousands)299,136240,902281,961244,280244,280230,655230,660269,567
    Long-term finance lease liability (USD, thousands)29,64130,62329,92026,45226,45250,99450,73152,763
    Long-term operating lease liability (USD, thousands)54,99151,55248,41845,19245,19242,32639,20236,790
    Long-term debt (USD, thousands)413,452413,869414,271414,675414,675415,098415,522415,913
    Deferred tax liability (USD, thousands)-----2,300470-
    Other long-term liabilities (USD, thousands)11,93212,57214,43613,84113,84116,24216,09115,539
    Total liabilities (USD, thousands)809,152749,518789,006744,440744,440757,615752,676790,572
    Preferred stock, par value $0.0001; 10,000,000 shares authorized; zero shares issued or outstanding (USD, thousands)---
    Common stock, par value $0.0001; 100,000,000 shares authorized; shares issued; and shares outstanding (USD, thousands)44444444
    Additional paid-in capital (USD, thousands)701,799709,157709,997720,033720,033717,488724,839724,767
    Accumulated other comprehensive loss (USD, thousands)(35)(44)(42)(42)(42)(58)(43)(50)
    Retained earnings (USD, thousands)359,207426,043495,730558,512558,512599,394695,787795,133
    Treasury stock of 5,334,743 shares at cost (USD, thousands)(102,482)(102,482)(102,482)(102,482)(102,482)(102,482)(102,482)(102,482)
    Total stockholders’ equity (USD, thousands)958,4931,032,6781,103,2071,176,0251,176,0251,214,3461,318,1051,417,372
    Total liabilities and stockholders' equity (USD, thousands)1,767,6451,782,1961,892,2131,920,4651,920,4651,971,9612,070,7812,207,944
    Cash Flow - MetricFY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025Q2 2025Q3 2025
    Net income [USD, thousands]4,87866,83669,68762,782.00204,18340,88296,393.00-
    Depreciation and amortization expense [USD, thousands]28,01726,46326,98428,219.00109,68328,13427,395.00-
    Stock-based compensation expense [USD, thousands]8,4267,5965,25010,190.0031,4628,4497,925.00-
    Deferred income taxes [USD, thousands]7,901(7,476)(5,054)7,519.002,89010,851(1,562.00)-
    Provision for credit losses [USD, thousands]9,3505,9823,5633,949.0022,8447,0532,571.00-
    Amortization of fees on debt [USD, thousands]416418402404.001,640423424.00-
    Noncash operating lease expense [USD, thousands]4,3723,5413,1423,191.0014,2463,1763,046.00-
    Other (Operating activities) [USD, thousands]85357714(595.00)8492,328(459.00)-
    Changes in assets and liabilities: Accounts receivable [USD, thousands](175,215)113,968(71,897)101,088.00(32,056)(210,028)90,612.00-
    Changes in assets and liabilities: Inventories, prepaid expenses, deposits and other current and long-term assets [USD, thousands](14,330)15,213(3,646)(6,114.00)(8,877)(9,310)5,226.00-
    Changes in assets and liabilities: Accounts payable [USD, thousands]28,747(44,741)4,4094,741.00(6,844)10,792(19,775.00)-
    Changes in assets and liabilities: Accrued liabilities [USD, thousands](26,895)5,90811,112(6,681.00)(16,556)(6,142)26,390.00-
    Changes in assets and liabilities: Accrued compensation and benefits [USD, thousands](17,402)3,06219,1742,560.007,394(24,341)4,038.00-
    Changes in assets and liabilities: Operating lease liability [USD, thousands](3,619)(4,968)(3,108)(3,295.00)(14,990)(3,259)(3,178.00)-
    Changes in assets and liabilities: Deferred revenue and other liabilities [USD, thousands]9,196(19,045)8,534(35,756.00)(37,071)(1,012)(15,682.00)-
    Net cash from operating activities [USD, thousands](135,305)173,33468,566172,202.00278,797(142,004)223,364.00-
    Purchase of property and equipment [USD, thousands](1,694)(9)203(770.00)(2,270)(669)(484.00)-
    Capitalized software development costs [USD, thousands](10,041)(8,361)(11,728)(10,523.00)(40,653)(8,793)(9,808.00)-
    Capitalized curriculum development costs [USD, thousands](4,414)(4,317)(4,803)(5,132.00)(18,666)(5,323)(4,518.00)-
    Sale of other investments [USD, thousands]-----
    Acquisition of assets (Investing activities) [USD, thousands]-----
    Other acquisitions, loans and investments, net of distributions [USD, thousands](166)(109)(418)(4,503.00)(5,196)(347)(603.00)-
    Proceeds from the maturity of marketable securities [USD, thousands]40,73439,62726,65997,467.00204,48754,40086,340.00-
    Purchases of marketable securities [USD, thousands](31,484)(88,563)(42,132)(115,394.00)(277,573)(60,162)(85,703.00)-
    Net cash used in investing activities [USD, thousands](7,065)(61,732)(32,219)(38,855.00)(139,871)(20,894)(14,776.00)-
    Repayments on finance lease obligations [USD, thousands](11,721)(10,770)(9,721)(8,707.00)(40,919)(8,747)(7,967.00)-
    Payments of contingent consideration [USD, thousands]-----
    Payments of deferred purchase consideration [USD, thousands]--------
    Proceeds from exercise of stock options [USD, thousands]-----
    Repurchase of restricted stock for income tax withholding [USD, thousands](2,090)(1,071)(4,436)(603.00)(8,200)(11,204)(759.00)-
    Net cash used in financing activities [USD, thousands](13,811)(11,841)(14,157)(9,310.00)(49,119)(19,951)(8,726.00)-
    Net change in cash, cash equivalents and restricted cash [USD, thousands](156,181)99,76122,190124,037.0089,807(182,849)199,862.00-
    Cash paid for interest [USD, thousands]2,9115033,209898.007,5213,187780.00-
    Cash paid for taxes [USD, thousands]36,2752,12326,02220,808.0085,22815,2143,791.00-
    Operating cash flows from operating leases [USD, thousands](3,619)(4,968)(3,108)---(3,178)(3,146)
    Financing cash flows from finance leases [USD, thousands](11,721)(10,770)(9,721)---(7,967)(13,243)
    Cash, cash equivalents and restricted cash, beginning of period [USD, thousands]410,807410,807410,807410,807410,807500,614500,614500,614
    Cash, cash equivalents and restricted cash, end of period [USD, thousands]254,626354,387376,577500,614500,614317,765517,627531,134
    Reconciliation: Cash and cash equivalents [USD, thousands]------515,049528,547
    Reconciliation: Other current assets (restricted cash) [USD, thousands]-------476
    Reconciliation: Deposits and other assets (restricted cash) [USD, thousands]------2,5782,111
    Reconciliation: Total cash, cash equivalents and restricted cash [USD, thousands]------517,627531,134
    Revenue by Segment - in Millions of USDFY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025Q2 2025Q3 2025
    General Education299.338313.902328.9347.061,289.2329.4354.3370.8
    Career Learning180.843190.966191.9187.19750.9221.7232.9242.6
    - Middle - High School150.974165.080167.9167.25651.2198.9213.1223.9
    - Adult29.86925.88624.019.9599.722.819.818.7
    Total Revenue480.181504.868520.8534.252,040.1551.1587.2613.4
    KPIs - Metric (Unit, Scale)FY 2014Q1 2015Q2 2015Q3 2015FY 2015Q1 2016Q2 2016Q3 2016FY 2016Q1 2017Q2 2017Q3 2017FY 2017Q1 2018Q2 2018Q3 2018FY 2018Q1 2019Q2 2019Q3 2019FY 2019Q1 2020Q2 2020Q3 2020FY 2020Q1 2021Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025Q2 2025Q3 2025
    Number of enrollments for General Education (thousands)117.6120.7124.6-121.6130.9135.8141.5
    Number of enrollments for Career Learning (thousands)70.372.473.8-72.791.794.898.7
    Total Enrollment (thousands)187.9193.1198.4-194.3222.6230.6240.2
    Number of graduates from partner schools (students)13,43513,43513,435-15,987---
    Number of schools for General Education (schools)929291-91898989
    Number of states for General Education (states)313131-31313131
    Number of schools or programs for Career Learning (schools_or_programs)565656-56565656
    Number of states for Career Learning (states)272727-27272727