LRN

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Stride, Inc.

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Key Metrics

Previous Close: $84.17
52-Week Range: $60.61 – $171.17
Market Cap: $3.49B
P/E (TTM): 11.77
EPS (TTM): 7.14
Dividend Yield: —

Advanced Metrics

Price/Book: 2.12
PEG Ratio: 0.49
Return on Equity: 21.73%
Return on Assets: 11.91%
Gross Margin: 37.75%
Operating Margin: 15.98%
Profit Margin: 13.43%
Current Ratio: 5.94
Debt/Equity: 0.33
Total Debt: $545.98M
Free Cash Flow: $224.87M
Revenue Growth: -2.70%
Earnings Growth: 69.60%
Enterprise Value: $3.05B

LRN Income statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Revenue	$1.84B	$2.04B	$2.41B	$2.52B
Cost of Revenue	$1.19B	$1.28B	$1.46B	$1.57B
Gross Profit	$647.07M	$763.60M	$943.92M	$950.60M
Selling, General & Admin	$481.57M	$514.00M	$524.35M	$499.83M
Operating Expenses	$481.57M	$514.00M	$524.35M	$499.83M
Operating Income	$165.50M	$249.60M	$419.57M	$450.77M
EBITDA	$291.31M	$386.18M	$508.39M	$579.50M
Pretax Income	$172.55M	$267.69M	$383.22M	$441.16M
Income Tax	$45.35M	$64.48M	$93.01M	$102.77M
Net Income	$126.87M	$204.18M	$287.94M	$338.19M
Diluted EPS	2.97	4.69	5.95	7.14
Diluted Shares	42.73M	43.54M	48.41M	47.33M

LRN Balance Sheet statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$410.81M	$500.61M	$782.50M	$754.50M
Receivables	$463.72M	$472.75M	$559.65M	$664.79M
Inventory	$36.72M	$36.75M	$37.57M	$38.25M
Current Assets	$1.07B	$1.25B	$1.63B	$1.72B
Total Assets	$1.76B	$1.92B	$2.29B	$2.44B
Current Liabilities	$309.13M	$244.28M	$302.88M	$288.85M
Long-Term Debt	$413.04M	$414.68M	$416.32M	$418.00M
Total Debt	$543.81M	$528.21M	$549.76M	$545.98M
Total Liabilities	$813.37M	$744.44M	$814.34M	$803.22M
Retained Earnings	$354.33M	$558.51M	$846.45M	$1.18B
Shareholders' Equity	$947.30M	$1.18B	$1.48B	$1.63B
Working Capital	$756.06M	$1.00B	$1.33B	$1.43B
Net Debt	$2.23M	—	—	—

LRN Cash Flow statement, annual periods, in USD
USD	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	$203.15M	$278.80M	$432.82M	$433.81M
Capital Expenditure	-$66.55M	-$61.59M	-$60.01M	-$78.85M
Free Cash Flow	$136.60M	$217.21M	$372.81M	$354.97M
Depreciation & Amortisation	$110.36M	$109.68M	$114.67M	$126.56M
Stock-Based Compensation	$20.32M	$31.46M	$36.79M	$40.26M
Investing Cash Flow	-$118.24M	-$139.87M	-$88.00M	-$179.83M
Financing Cash Flow	-$63.50M	-$49.12M	-$62.94M	-$281.98M
Share Repurchases	—	$0.00	$0.00	-$188.66M
Net Change in Cash	$21.41M	$89.81M	$281.88M	-$28.00M

LRN Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$653.65M	$620.88M	$631.26M	$629.87M	$636.06M
Cost of Revenue	$414.73M	$378.76M	$371.63M	$398.31M	$418.78M
Gross Profit	$238.92M	$242.12M	$259.63M	$231.56M	$217.28M
Selling, General & Admin	$122.58M	$173.14M	$112.78M	$102.48M	$111.43M
Operating Expenses	$122.58M	$173.14M	$112.78M	$102.48M	$111.43M
Operating Income	$116.34M	$68.98M	$146.85M	$129.08M	$105.85M
EBITDA	$97.22M	$115.13M	$167.04M	$156.34M	$140.99M
Pretax Income	$64.33M	$82.82M	$133.27M	$120.74M	$104.33M
Income Tax	$12.92M	$14.42M	$33.97M	$31.55M	$22.83M
Net Income	$51.32M	$68.80M	$99.48M	$88.53M	$81.39M
Diluted EPS	1.03	1.40	2.12	1.93	1.75
Diluted Shares	49.77M	49.22M	46.86M	45.84M	46.39M

LRN Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$782.50M	$518.44M	$497.10M	$614.05M	$754.50M
Receivables	$559.65M	$809.30M	$868.96M	$854.87M	$664.79M
Inventory	$37.57M	$19.81M	$17.94M	$21.50M	$38.25M
Current Assets	$1.63B	$1.65B	$1.60B	$1.76B	$1.72B
Total Assets	$2.29B	$2.33B	$2.31B	$2.45B	$2.44B
Current Liabilities	$302.88M	$243.56M	$220.13M	$283.17M	$288.85M
Long-Term Debt	$416.32M	$416.75M	$417.18M	$417.58M	$418.00M
Total Debt	$549.76M	$588.03M	$556.27M	$547.42M	$545.98M
Total Liabilities	$814.34M	$805.71M	$758.71M	$805.01M	$803.22M
Retained Earnings	$846.45M	$915.25M	$1.01B	$1.10B	$1.18B
Shareholders' Equity	$1.48B	$1.53B	$1.55B	$1.64B	$1.63B
Working Capital	$1.33B	$1.41B	$1.38B	$1.48B	$1.43B

LRN Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$298.32M	-$195.78M	$91.84M	$220.91M	$316.85M
Capital Expenditure	-$14.60M	-$21.70M	-$15.97M	-$18.55M	-$22.63M
Free Cash Flow	$283.72M	-$217.48M	$75.86M	$202.36M	$294.22M
Depreciation & Amortisation	$30.20M	$29.23M	$30.95M	$32.60M	$33.78M
Stock-Based Compensation	$11.87M	$10.22M	$10.27M	$9.57M	$10.19M
Investing Cash Flow	-$34.65M	-$24.72M	-$9.95M	-$84.64M	-$60.52M
Financing Cash Flow	-$12.31M	-$43.55M	-$103.23M	-$19.32M	-$115.88M
Share Repurchases	—	—	—	$0.00	-$100.01M
Net Change in Cash	$251.36M	-$264.06M	-$21.34M	$116.95M	$140.45M

Market Snapshot

About

Stride, Inc. (formerly K12 Inc.) is a leading provider of online and blended education programs for K-12 students. The company operates virtual public schools, provides curriculum and technology platforms, and offers career learning programs. Stride serves students across the United States through partnerships with school districts and direct-to-consumer offerings.