Stride reports fourth quarter and full year 2026 financial results
Stride, Inc. (LRN) filed an SEC Form 8-K — Results of Operations and Financial Condition. EXHIBIT 99.1 Stride reports fourth quarter and full year 2026 financial results RESTON, Va., Aug. 04, 2026 (GLOBE NEWSWIRE) -- Stride, Inc. (NYSE: LRN), one of the nation’s most successful technology-based education companies, today announced its results for the fourth quarter an
How this was made
The 30-second read
Why it matters
Traders can update valuation and near-term expectations using the disclosed GAAP profitability, non-GAAP metrics, enrollment averages, revenue per enrollment, and the scale of share repurchases.
Market read
This is a primary earnings release via SEC filing, with full-year growth in revenue and net income, plus ongoing buybacks, but with Q4 revenue and adjusted operating income down versus the prior year.
What to watch
Revenue per enrollment was slightly down in Q4 (-0.4% overall), and General Education revenue per enrollment fell (-1.0%), which could offset the Career Learning improvement if the mix shifts back.
Stride reports fourth quarter and full year 2026 financial results
Fiscal 2026 revenue, operating income, net income and Career Learning revenue increased from fiscal 2025, while fourth-quarter revenue, General Education revenue, adjusted operating income, adjusted EBITDA and adjusted earnings per share declined from the prior-year quarter.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Fiscal 2026 revenuesGAAP | $2.52B | – | 4.7 % |
| Fiscal 2026 income from operationsGAAP | 450,767 | – | 25.2 % |
| Fiscal 2026 adjusted operating incomenon-GAAP | 498,373 | – | 6.9 % |
| Fiscal 2026 net incomeGAAP | 338,192 | – | 17.5 % |
| Fiscal 2026 net income per share, dilutedGAAP | 7.14 | – | 20.0 % |
| Fiscal 2026 adjusted earnings per sharenon-GAAP | 8.33 | – | 2.8 % |
| Fiscal 2026 EBITDAnon-GAAP | 577,329 | – | 21.6 % |
| Fiscal 2026 adjusted EBITDAnon-GAAP | 617,584 | – | 8.2 % |
| Fourth quarter fiscal 2026 revenuesGAAP | $636.1M | – | (2.7 %) |
| Fourth quarter fiscal 2026 income from operationsGAAP | 105,852 | – | 86.1 % |
| Fourth quarter fiscal 2026 adjusted operating incomenon-GAAP | 117,814 | – | (9.8 %) |
| Fourth quarter fiscal 2026 net incomeGAAP | 81,388 | – | 58.6 % |
| Fourth quarter fiscal 2026 net income per share, dilutedGAAP | 1.75 | – | 69.9 % |
| Fourth quarter fiscal 2026 adjusted earnings per sharenon-GAAP | 2.12 | – | (7.4 %) |
| Fourth quarter fiscal 2026 EBITDAnon-GAAP | 139,631 | – | 60.4 % |
| Fourth quarter fiscal 2026 adjusted EBITDAnon-GAAP | 149,823 | – | (5.4 %) |
| Fiscal 2026 average enrollmentsother | 243.9K | – | 4.2% |
| Fiscal 2026 average Career Learning enrollmentsother | 109.7K | – | 13.9% |
| Fourth quarter average enrollmentsother | 234.2K | – | (0.5)% |
| Fourth quarter average Career Learning enrollmentsother | 106.4K | – | 9.7% |
| Fiscal 2026 revenue per enrollmentother | $9,914 | – | 2.4% |
| Fiscal 2026 General Education revenue per enrollmentother | $10,243 | – | 1.6% |
| Fiscal 2026 Career Learning revenue per enrollmentother | $9,512 | – | 4.5% |
| Fourth quarter revenue per enrollmentother | $2,620 | – | (0.4)% |
| Fourth quarter General Education revenue per enrollmentother | $2,710 | – | (1.0)% |
| Fourth quarter Career Learning revenue per enrollmentother | $2,511 | – | 1.3% |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| Fourth quarter fiscal 2026 General EducationNot stated. | $355.8M | – | (9.7 %) |
| Fourth quarter fiscal 2026 Career Learning Middle - High SchoolNot stated. | 267.1M | – | 11.1 % |
| Fourth quarter fiscal 2026 AdultNot stated. | 13.14M | – | (31.1 %) |
| Fourth quarter fiscal 2026 Total Career LearningCareer Learning Middle - High School revenue increased and Adult revenue declined. | 280.3M | – | 8.0 % |
| Fiscal 2026 General EducationNot stated. | $1.42B | – | (2.1 %) |
| Fiscal 2026 Career Learning Middle - High SchoolNot stated. | 1.04B | – | 19.1 % |
| Fiscal 2026 AdultNot stated. | 56.57M | – | (29.6 %) |
| Fiscal 2026 Total Career LearningCareer Learning Middle - High School revenue increased and Adult revenue declined. | 1.10B | – | 15.0 % |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
Capital returns
- During fiscal year 2026, the Company repurchased approximately 2.3 million shares of its common stock for an aggregate purchase price of approximately $188.7 million under its previously announced share repurchase authorization.
- Repurchased approximately $100 million of common stock under the Company’s share repurchase authorization in the fourth quarter of fiscal 2026.
- As of June 30, 2026, approximately $311.3 million remained available under the current authorization.
- Share repurchase authorization extended through October 31, 2027.
What drove it
- Fiscal 2026 average Career Learning enrollments were 109.7K, up 13.9% compared to 96.3K Career Learning enrollments in fiscal 2025.
- Fiscal 2026 Career Learning Middle - High School revenue was 1,043,726, up 19.1 %.
- Fiscal 2026 Career Learning revenue per enrollment was $9,512, up 4.5%, compared to fiscal year 2025.
- Fourth quarter average Career Learning enrollments were 106.4K, up 9.7% compared to 97.0K Career Learning enrollments in the fourth quarter of fiscal 2025.
- Fourth quarter Career Learning revenue per enrollment was $2,511, up 1.3%, compared to the fourth quarter of fiscal year 2025.
Concerns
- Fourth quarter fiscal 2026 revenues declined (2.7 %) from the fourth quarter of fiscal 2025.
- Fourth quarter General Education revenue declined (9.7 %) and fiscal 2026 General Education revenue declined (2.1 %).
- Adult revenue declined (31.1 %) in the fourth quarter and (29.6 %) for fiscal 2026.
- Fourth quarter adjusted operating income declined (9.8 %), adjusted EBITDA declined (5.4 %), and adjusted earnings per share declined (7.4 %).
- Fourth quarter average enrollments declined (0.5)% and fourth quarter General Education revenue per enrollment declined (1.0)% compared to the fourth quarter of fiscal year 2025.
What to watch
- Mix of enrollment and revenue per enrollment, which the Company stated can affect revenues if average revenues per enrollment are significantly different.
- General Education revenue and enrollment trends.
- Career Learning Middle - High School growth and Adult Learning revenue trends.
- Future share repurchases under the authorization with approximately $311.3 million remaining available as of June 30, 2026.
Balance sheet and cash flow
- As of June 30, 2026, the Company’s cash and cash equivalents and marketable securities totaled $1,034.1 million, compared with $1,011.4 million reported at June 30, 2025.
- Capital expenditures for the fiscal year ended June 30, 2026 were $78.8 million, compared to $60.0 million in fiscal year 2025.
- Fiscal 2026 capital expenditures were comprised of $0.6 million of property and equipment, $61.6 million of capitalized software development and $16.6 million of capitalized curriculum development.
Analysis
Stride reported fiscal 2026 revenues of $ 2,518,081, up 4.7 % from fiscal 2025. Income from operations increased 25.2 % to 450,767, net income increased 17.5 % to 338,192, and diluted net income per share increased 20.0 % to 7.14. Adjusted operating income increased 6.9 % to 498,373, while adjusted EBITDA increased 8.2 % to 617,584 and adjusted earnings per share increased 2.8 % to 8.33.
Career Learning was the reported revenue growth area for the full year. Total Career Learning revenue was 1,100,296, up 15.0 %, led by Career Learning Middle - High School revenue of 1,043,726, up 19.1 %. This contrasted with General Education revenue of $ 1,417,785, down (2.1 %), and Adult revenue of 56,570, down (29.6 %). Average Career Learning enrollments rose 13.9% to 109.7K, while Career Learning revenue per enrollment rose 4.5% to $9,512.
The fourth quarter showed a different top-line and adjusted-profit profile. Revenues were $ 636,064, down (2.7 %) year over year, as General Education revenue declined (9.7 %) to $ 355,809 and Adult revenue declined (31.1 %) to 13,139. Career Learning Middle - High School revenue increased 11.1 % to 267,116, and Total Career Learning revenue increased 8.0 % to 280,255. GAAP income from operations increased 86.1 % to 105,852 and net income increased 58.6 % to 81,388, but adjusted operating income, adjusted EBITDA and adjusted earnings per share each declined from the prior-year quarter.
Enrollment and pricing indicators were mixed in the quarter. Average enrollments were 234.2K, down (0.5)%, while Career Learning average enrollments rose 9.7% to 106.4K. Total fourth-quarter revenue per enrollment was $2,620, down (0.4)%, with General Education revenue per enrollment down (1.0)% to $2,710 and Career Learning revenue per enrollment up 1.3% to $2,511.
Capital allocation included approximately $188.7 million of common-stock repurchases during fiscal 2026, including approximately $100 million in the fourth quarter. Cash and cash equivalents and marketable securities totaled $1,034.1 million as of June 30, 2026, and approximately $311.3 million remained available under the current authorization. Fiscal 2026 capital expenditures were $78.8 million, including $61.6 million of capitalized software development and $16.6 million of capitalized curriculum development. The release did not provide forward financial guidance.
Management, verbatim
I am pleased to lead Stride as we position the Company for its next chapter of growth.
Robert Knowling, Stride Chief Executive Officer
Building on Stride’s strong foundation, we will continue to prioritize investments in curriculum, technology and support services to improve student outcomes and drive growth and value creation.
Robert Knowling, Stride Chief Executive Officer
Not in the filing
stated, not guessed- Gross profit and gross margin
- Operating expenses
- Income tax expense and tax rate
- Operating cash flow
- Free cash flow
- Debt and debt maturities
- Dividend amount or dividend policy
- Forward revenue guidance
- Forward gross-margin guidance
- Forward operating-expense guidance
- Forward tax-rate guidance
- Forward earnings, EPS, EBITDA or enrollment guidance
- Prior-quarter comparisons for reported financial metrics
- Prior-year values for General Education and Career Learning revenue per enrollment
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
The company filed an SEC 8-K with Exhibit 99.1 reporting fourth quarter and full fiscal year 2026 results ended June 30, 2026.
Ticker impact
Stride reported FY2026 results in an 8-K, including revenue of $2.518B and net income of $338.2M, plus buybacks of ~$188.7M.
Moderate positive bias for the stock on earnings quality, but watch for sensitivity to Q4 revenue softness and enrollment mix.
The filing provides concrete GAAP and non-GAAP performance, enrollment averages, revenue per enrollment, and capital allocation (repurchases). Q4 revenue fell 2.7% YoY even as operating income rose, suggesting margin support but potential demand/mix pressure.
Market effects
Education-technology and online learning peers may see read-across from Stride’s enrollment growth in Career Learning and improving revenue per enrollment.
Primarily US-listed education sector sentiment; limited direct regional spillover beyond US growth/margin expectations.
Low global relevance; impacts are mostly within US education-services and edtech investor positioning.
Counterpoint
Despite FY growth, Q4 revenue and adjusted operating income declined versus the prior year, implying the market may focus on deceleration rather than full-year strength.
Key entities
- issuerStride, Inc.
Reported FY2026 and Q4 financial results, enrollment and revenue per enrollment metrics, and repurchase activity in an 8-K.
- executiveRobert Knowling
CEO quoted on positioning the company for its next chapter of growth.
