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Stride (LRN) investor relations material
Stride Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved record revenue and profitability for FY2025, with strong growth in General Education and Career Learning segments and the ninth consecutive year of revenue growth.
Full-year enrollments rose 20.4% year-over-year, serving over 240,000 students and families, with Career Learning enrollments up 32.5%.
Celebrated 25th anniversary, received recognition for educational innovation, and maintained leadership in school choice and digital education.
Continued investment in new products, tutoring, and AI-driven solutions to enhance student outcomes.
Maintains a strong balance sheet, enabling flexibility for organic and inorganic growth.
Financial highlights
FY2025 revenue reached $2,405.3M, up 18% year-over-year; adjusted operating income $466.2M, up 59%.
Adjusted EBITDA for FY2025 was $571.0M, a 46% increase year-over-year; adjusted EPS $8.10, up 48%.
Net income for the year reached $287.9M, a 41% increase year-over-year; diluted EPS was $5.95, up 27%.
Free cash flow for FY2025 was $372.8M, up from $217.2M in FY2024.
Cash, cash equivalents, and marketable securities totaled $1,011.4M at year-end, up from $714.2M.
Outlook and guidance
Initial Q1 FY2026 enrollment guidance projects 10–15% year-over-year growth, with strong market trends.
Revenue per enrollment for FY26 anticipated to be flat to slightly up; funding environment remains positive.
On track to achieve FY2028 targets, including $3.3–$3.5B revenue and $8.35–$9.00 EPS.
Gross margin growth to continue but at a slower pace; SG&A as a percent of revenue to decrease marginally.
CapEx as a percent of revenue to remain flat; stock-based compensation and tax rate to be in line with FY25.
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