📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Stride, Inc., a technology company, provides an educational platform to deliver proprietary and third-party curriculum, software systems, and educational services in the United States. The company offers online coursework and content in software engineering, healthcare, and medical fields, as well as state customized versions of those courses, electives, and instructional supports; end-to-end platform includes single sign-on capability for content management, learning management, student information, data reporting and analytics, and various support systems that provides an educational experience for students; and stand-alone products and services which can provide curriculum and content hosting on customers’ learning management systems, or integration with customers’ student information systems. It also provides instructional services that includes customer support for instructional teams comprising recruitment of state-certified teachers, training in research-based online instruction methods and Stride systems, oversight and evaluation services, and ongoing professional development; training options, such as hands-on training, on-demand courses, and support materials. In addition, the company offers support services, including marketing and enrollment, supporting prospective students through the admission process, assessment management, administrative support, technology, and materials support services. The company provides its products and services through virtual schools, traditional school districts, and consumer. It serves public and private schools, school districts, and charter boards, as well as employers, government agencies, and consumers. The company was formerly known as K12 Inc. and changed its name to Stride, Inc. in December 2020. The company was incorporated in 1999 and is headquartered in Reston, Virginia.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

See full financials →

📊 Quick Scorecard

Loading…

⭐ Superinvestors Holding LRN

View All Superinvestors →

Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	20.03M	$34.7M	0.04%	Mar 2026
Steve Cohen Point72 Asset Management	291.2K	$25.7M	0.03%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Mixed ↓ Deteriorating 4 quarters analysed

Q4 2025

Confident Specific

Management uses precise numbers and ranges (e.g., '10% to 15% enrollment growth', 'revenue per enrollment flat to slightly up') and expresses clear optimism about demand and market position, while acknowledging specific challenges like the New Mexico contract loss and adult learning weakness.

Q1 2026

Mixed

Management admits internal shortfalls ('fell short of internal expectations', 'implementations did not go as smoothly as anticipated') and reduced near-term outlook, but repeatedly expresses long-term optimism ('our outlook for this business over the longer term remains bullish') and frames issues as temporary and strategic.

Q2 2026

Confident Specific

Management repeatedly stated 'core issues are behind us' and provided concrete evidence like call volumes dropping over 90% week over week after fixing login issues. They gave specific guidance raises and reaffirmed FY2028 goals, projecting stability and control.

Q3 2026 latest

Mixed

The tone balances confidence in long-term demand and platform progress with cautious realism about near-term attrition and cost headwinds. James says 'I'm comfortable with our progress' and 'the demand environment sets us up well', but also acknowledges 'marginally higher level of attrition' and that Q4 revenue will be below last year.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is slightly weaker in the near term due to acknowledged higher attrition, earlier enrollment window closures, and Q4 revenue below prior year. However, the long-term demand narrative remains intact with strong application volumes and robust Career Learning growth. The key risk is whether platform stability improves sufficiently to prevent further attrition, and whether the strong demand pipeline converts into fall enrollments. Next quarter's Q4 call will be critical for updates on fall enrollment pipeline and state funding budgets, which will determine if the growth trajectory resumes. The lack of specifics on Adult Learning and unchanged guidance ranges provide limited new catalysts.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Mixed ↓ Deteriorating 4 quarters Full tone analysis in Intelligence →

📊 MIXED Stride Q3 FY2026 revenue $629.9M, enrollments 244.5K, career learning grows 16%

Revenue & Profitability

Q3 total revenue was $629.9 million, up 2.7%. Adjusted operating income was $140.4 million (down 1%), adjusted EBITDA was $171.3 million (up 1.8%), and adjusted EPS was $2.30 (down $0.03). For the full year, revenue guidance was narrowed to $2.490-$2.520 billion and adjusted operating income to $490-$500 million.

Outlook

Management sees strong demand as indicated by application volumes, with the macro environment for school alternatives providing a long-term tailwind. They noted that the funding cut in Pennsylvania is not indicative of a broader trend and believe it may create opportunities for stronger players. The company is optimistic about the coming fall season.

Growth Drivers

The key growth driver is the Career Learning segment, which grew revenue nearly 16% (to $259.5 million) and enrollments 11.6% in Q3. Management highlighted that the pipeline of new business activity is the strongest in five years, and they see potential for improved conversion rates from AI-driven customer research. General Education enrollments declined 5%, but total demand remains strong.

Balance Sheet & CapEx

Capital expenditures were $18.5 million in Q3, up from $15.8 million last year. Full-year CapEx guidance was narrowed to $75-$80 million. Investments are being made in the platform rollout and infrastructure, with some of these costs expected to moderate in fiscal 2027.

Margins

Gross margin for Q3 was 36.8%, down 380 basis points year-over-year due to continued platform investments. Full-year gross margin is expected to be 37%-37.4%. SG&A declined 13.5% to $102.5 million, with full-year SG&A expected down 6%-8%. The company expects Q4 profitability to be lower than Q3 as marketing spend increases.

Key Risks

Management flagged platform stability issues from earlier this year as a risk, though they expressed comfort with progress. Marginally higher attrition since the last call was noted, and Q4 revenue is expected to be below last year due to early enrollment window closures and tough comparisons. The funding environment in states like Pennsylvania remains a headwind.

Generated by AI · Q3 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

🔍

🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q4 2026 Q4 2026 2026-08-04

FY 2026 saw 4.7% revenue growth, strong demand, and a leadership transition to drive future growth. Career Learning outperformed, while General Education declined. Early FY 2027 indicators show strong conversion and re-registration rates, with a supportive funding environment.

Q3 2026 Q3 2026 2026-04-28

Q3 saw 1.8% enrollment growth and 2.7% revenue increase, with Career Learning up 16% and General Education down 3.6%. Gross margin declined due to investments, but free cash flow surged. Guidance narrowed, with strong demand and a robust new business pipeline.

Q2 2026 Q2 2026 2026-01-27

Platform stabilization and strong demand drove 8% revenue growth and 17% higher adjusted operating income. Career Learning segment excelled, while General Education saw a revenue dip. Full-year guidance was reaffirmed, with robust cash reserves and continued share repurchases.

Q1 2026 Q1 2026 2025-10-28

Q1 saw 11.3% enrollment growth and 13% revenue growth, but platform rollout issues led to higher withdrawals and muted in-year growth expectations. Full-year revenue is guided at $2.48–$2.555 billion, with continued investments in technology and program quality.

Q4 2025 Q4 2025 2025-08-05

Revenue grew 18% to $2.4B with adjusted operating income up nearly 60% and strong gross margin expansion. Enrollment is expected to grow 10%-15% in Q1 FY26, supported by robust demand and a positive funding environment.

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯

Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.

📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.