The earnings call highlighted Stride's strong financial performance with record revenue and operating income growth, significant enrollment increases, and a favorable funding environment. However, challenges such as the impairment charge in the Galvanize business and issues within the Adult Learning segment somewhat tempered the positive outlook. The company also effectively managed a significant contract loss in New Mexico by securing new district partners.

Company Guidance -

Q1 2026

During the earnings call for Stride's fourth quarter of fiscal year 2025, guidance was provided for fiscal year 2026. The company anticipates double-digit enrollment growth in the range of 10% to 15% for the first quarter, driven by strong application volumes, a proxy for demand. Stride projects revenue per enrollment to be relatively flat to slightly up compared to FY 2025, with a favorable funding environment as some states increase funding. The company expects gross margin expansion to continue but at a slower pace, with anticipated investments in products and services, such as tutoring for second and third-grade reading skills. For FY 2025, Stride reported a full-year revenue of $2.4 billion, up 18% year-over-year, with adjusted operating income of $466.2 million, reflecting a substantial 60% increase. Adjusted earnings per share were introduced as a new metric, showing a 48% rise to $8.10 from FY 2024. The call highlighted the company's strong market position, with an effective tax rate of 24.4% and free cash flow of $372.8 million.

Record-Breaking Revenue Growth

Full year revenue of $2.4 billion, up 18% from last year, with strong demand and continued momentum in the school choice market.

Significant Increase in Operating Income

Adjusted operating income of $466.2 million, up nearly 60% from last year, highlighting the benefits of scale and improvements in marketing.

Strong Enrollment Growth

Full year enrollments totaled 96,300 in Career Learning, up 33%, and General Education enrollments totaled 137,700, up 13%.

Awards and Recognitions

Stride received several notable awards including 'Company of the Year' by BIG Awards for Business and 'Best EdTech Company' by the Global EdTech Awards.

Positive Funding Environment

Despite some states holding funding flat, others are increasing, leading to an overall favorable funding environment for FY '26.

Effective Tax Rate and Cash Flow

Effective tax rate for FY '25 was 24.4%, with free cash flow of $372.8 million, up $155.6 million from last year.

Stride (LRN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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LRN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 28, 2025	2026 (Q1)	1.13 / -	0.94	―	―	―
Aug 05, 2025	2025 (Q4)	1.77 / 1.03	1.42	-27.46% (-0.39)
Apr 29, 2025	2025 (Q3)	2.05 / 2.02	1.6	26.25% (+0.42)
Jan 28, 2025	2025 (Q2)	1.95 / 2.03	1.54	31.82% (+0.49)
Oct 22, 2024	2025 (Q1)	0.22 / 0.94	0.11	754.55% (+0.83)
Aug 06, 2024	2024 (Q4)	1.27 / 1.42	1.01	40.59% (+0.41)
Apr 23, 2024	2024 (Q3)	1.43 / 1.60	1.3	23.08% (+0.30)
Jan 23, 2024	2024 (Q2)	1.31 / 1.54	1.19	29.41% (+0.35)
Oct 24, 2023	2024 (Q1)	-0.37 / 0.11	-0.54	120.37% (+0.65)
Aug 15, 2023	2023 (Q4)	0.87 / 1.01	0.66	53.03% (+0.35)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

LRN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$128.23	$148.32	+15.67%
Apr 29, 2025	$142.59	$142.25	-0.24%
Jan 28, 2025	$120.64	$127.87	+5.99%
Oct 22, 2024	$64.49	$89.71	+39.11%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.