Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-33883 Stride, Inc. (Exact name of registrant as specified in its charter) Delaware 95-4774688 (State or other jurisdi ...

Q2 FY2026 Earnings Presentation January 27, 2026 These risks, uncertainties, factors and contingencies include, but are not limited to: reduction of per pupil funding amounts at the schools we serve; inability to achieve a sufficient level of new enrollments to sustain our business model or meet guidance; limitations of the enrollment data we present, which may not fully capture trends in the performance of our business; failure to enter into new school contracts or renew existing contracts, in part or in t ...

Financial Performance - Revenues for Q2 FY 2026 reached $631.3 million, a 7.5% increase from $587.2 million in Q2 FY 2025[4] - Net income for Q2 FY 2026 was $99.5 million, up 3.2% from $96.4 million in Q2 FY 2025[6] - Adjusted EBITDA for Q2 FY 2026 was $188.1 million, reflecting a 17.2% increase compared to $160.4 million in Q2 FY 2025[4] - Income from operations for Q2 FY 2026 was $146.9 million, up from $125.1 million in Q2 FY 2025, representing a 17.0% increase[38] - Adjusted operating income for Q2 FY 2026 reached $159.0 million, compared to $135.6 million in Q2 FY 2025, reflecting a 17.2% growth[38] - Adjusted EBITDA for Q2 FY 2026 was $188.1 million, compared to $160.4 million in Q2 FY 2025, marking a 17.3% rise[41] - The company projects income from operations for FY 2026 to be between $437.0 million and $454.0 million[43] - Adjusted operating income for FY 2026 is expected to range from $485.0 million to $505.0 million[43] Enrollment Metrics - Total enrollments in Q2 FY 2026 were 248.5K, a 7.8% increase from 230.6K in Q2 FY 2025[10] - Career Learning enrollments increased by 17.6% to 111.5K in Q2 FY 2026 compared to 94.8K in Q2 FY 2025[10] - Revenue per enrollment for Q2 FY 2026 was $2,437, up 1.8% from $2,395 in Q2 FY 2025[12] Forecast and Projections - The company forecasts FY 2026 revenue in the range of $2.480 billion to $2.555 billion[19] - Adjusted operating income for FY 2026 is projected to be between $485 million and $505 million[19] - Capital expenditures for FY 2026 are expected to be between $70 million and $80 million[19] - The effective tax rate is anticipated to be between 24% and 25% for FY 2026[19] Cash and Assets - Total current assets as of December 31, 2025, were $1,600,317,000, slightly down from $1,632,734,000 as of June 30, 2025[26] - Total liabilities decreased to $758,709,000 as of December 31, 2025, from $814,340,000 as of June 30, 2025, showing a reduction of 6.8%[27] - Cash and cash equivalents at the end of the period were $497,098,000, down from $782,497,000 at the beginning of the period, a decrease of 36.5%[29] Earnings and Share Metrics - Basic earnings per share for the three months ended December 31, 2025, was $2.31, up from $2.24 in the same period of 2024, a growth of 3.1%[24] - Adjusted earnings per share for Q2 FY 2026 was $2.50, up from $2.37 in Q2 FY 2025, which is a 5.5% increase[41] - Stock-based compensation expense for Q2 FY 2026 was $10.3 million, compared to $7.9 million in Q2 FY 2025, a 30.0% increase[41] - The weighted average diluted shares for Q2 FY 2026 were 46,863,391, compared to 47,462,688 in Q2 FY 2025[41] Cash Flow and Operating Activities - The company reported a net cash used in operating activities of $103,944,000 for the six months ended December 31, 2025, compared to a net cash provided of $81,360,000 in 2024[30] - The company has capitalized software development costs of $24,691,000 for the six months ended December 31, 2025, compared to $18,601,000 in 2024, indicating an increase of 32.8%[30] Gross Margin - Gross margin for the six months ended December 31, 2025, was $501,754,000, up from $455,711,000 in 2024, indicating a year-over-year growth of 10.1%[24]

RESTON, Va., Jan. 27, 2026 (GLOBE NEWSWIRE) -- Stride, Inc. (NYSE: LRN), one of the nation’s most successful technology-based education companies, today announced its results for the second quarter of fiscal year 2026 ended December 31, 2025. Second Quarter Fiscal 2026 Highlights Compared to 2025 Revenue of $631.3 million, compared with $587.2 millionIncome from operations of $146.9 million, compared with $125.1 millionNet income of $99.5 million, compared with $96.4 millionDiluted net income per share of $ ...

Stride, Inc. (NYSE: LRN) is a prominent figure in the online education sector, offering comprehensive education programs for a wide range of students and adults. As it gears up to announce its quarterly earnings on January 27, 2026, the market is abuzz with anticipation. Analysts have set high expectations for the company's financial performance, projecting significant earnings per share and revenue. However, Stride finds itself under scrutiny due to a legal investigation concerning its board of directors' ...

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against Stride, Inc. due to allegations of fiduciary duty breaches by the board of directors during a specified class period [2]. Group 1: Legal Investigation - A class action complaint was filed against Stride on November 11, 2025, concerning actions taken between October 22, 2024, and October 28, 2025 [2]. - The investigation focuses on whether Stride's board of directors has breached their fiduciary duties to the company [2]. Group 2: Allegations Against Stride - The complaint alleges that Stride made false and misleading statements about its success and capabilities in the education sector [8]. - Specific allegations include: 1. Inflating enrollment numbers by retaining "ghost students" [8]. 2. Cutting staffing costs by assigning teachers excessive caseloads beyond statutory limits [8]. 3. Ignoring compliance requirements, including background checks and licensure laws for employees, and federally mandated special education services [8]. 4. Suppressing whistleblowers who reported financial directives aimed at delaying hiring and denying services to maintain profit margins [8]. 5. Losing existing and potential enrollments due to these practices [8]. - These materially false statements led to the purchase of securities at artificially inflated prices, resulting in damages when the truth was revealed [8].

Group 1 - The sell-off of Stride, Inc. (LRN) stock has exceeded 50% since its pre-Q1 peak, suggesting that the decline may be overdone based on primary research [1] - Ariel Sokol, with over twenty years of experience in corporate finance, has a background in both established companies and startups, particularly in the education sector [1] - Sokol founded Kolari Consulting, focusing on subscription and edtech businesses, and has held significant roles at Pearson in the Connections Education division [1] Group 2 - Sokol has experience as a Wall Street equity research analyst covering education, software, and media companies, indicating a strong analytical background [1] - His previous role on the board of a for-profit university adds to his expertise in the education industry [1]

Core Viewpoint - The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of Stride, Inc. regarding possible breaches of fiduciary duties to shareholders [1] Group 1: Legal Investigation - The investigation is prompted by a report from Simply Wall St. published on September 14, 2025, which indicates that the Gallup-McKinley County Schools Board of Education has filed a complaint against Stride, alleging fraud and deception [1]

Core Insights - The article emphasizes the importance of conducting personal due diligence before making investment decisions, highlighting that past performance does not guarantee future results [2][3]. Group 1 - The content is based on personal thoughts and research, indicating that it is not financial or investment advice [2][3]. - The article mentions that the author has no business or personal relationship with any company mentioned, ensuring objectivity in the analysis [2][3]. - It is noted that the analysts contributing to the platform may not be licensed or certified, which could affect the reliability of the information provided [3].

Core Viewpoint - The article emphasizes the importance of conducting personal due diligence before making investment decisions, highlighting that past performance does not guarantee future results [2][3]. Group 1 - The content is based on personal thoughts and research, and it is not intended as financial or investment advice [2][3]. - The author has no stock, option, or similar derivative positions in any of the companies mentioned, nor plans to initiate any such positions within the next 72 hours [1]. - There is a clear disclaimer that the views expressed may not reflect those of Seeking Alpha as a whole, indicating a diversity of opinions among analysts [3].