The earnings call highlights a strong financial performance with significant revenue and income growth, along with robust enrollment figures and positive market recognition. However, the company faces challenges with an impairment in the Galvanize business and hurdles in the Adult Learning segment. Contractual issues in New Mexico were addressed with new district agreements. The overall sentiment is mixed but leans towards positive due to the strong financial and enrollment metrics.

Company Guidance

During Stride's fourth quarter fiscal year 2025 earnings call, the company provided robust guidance and insights into their performance. Stride reported a full-year revenue of $2.4 billion, reflecting an 18% increase from the previous year, with adjusted operating income up nearly 60% to $466.2 million. Enrollment growth was a key highlight, with Career Learning and middle and high school revenues increasing by 35%, coupled with a 33% rise in enrollments to 96,300. General Education revenue also grew by 12%, with enrollments up 13% to 137,700. Despite some state funding variations, the overall funding environment remains positive, and Stride anticipates a 10% to 15% enrollment growth in the first quarter of fiscal year 2026. Gross margins improved by 180 basis points to 39.2%, although the company expects a slower pace of margin expansion due to planned investments in products and services. Adjusted earnings per share for the year reached $8.10, up 48% from fiscal year 2024. With cash reserves exceeding $1 billion, Stride remains confident in sustaining its growth momentum into fiscal year 2026.

Strong Revenue Growth

Full year revenue of $2.4 billion was up 18% from last year.

Significant Increase in Operating Income

Adjusted operating income of $466.2 million, up nearly 60% from last year.

Enrollment Growth

General Education enrollment totaled 137,700, up 13%. Career Learning and middle and high school revenues were $876.3 million, up 35% with enrollments totaling 96,300, up 33%.

Awards and Recognition

Stride was named one of America's best midsize companies by TIME, 2024 Company of the Year by BIG Awards for Business, and Best EdTech Company by the Global EdTech Awards.

Favorable Funding Environment

The funding environment for FY '26 looks positive with some states increasing funding, and no significant negative impact expected from federal funding changes.

Stride (LRN) Earnings, Revenues Date & History

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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)	1.07 / -	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.