Strong Demand Drives Record Enrollment

Core Insights - Stride, Inc. reported significant growth in its first fiscal quarter for 2025, with revenues reaching $551.1 million, a 14.8% increase from $480.2 million in the same period last year [1] - The company achieved a net income of $40.9 million, compared to $4.9 million in the prior year, reflecting a 738.1% increase [1] - Adjusted EBITDA for the quarter was $83.9 million, up 111.1% from $39.8 million in the previous year [1] Financial Performance - Revenue for the first quarter was $551.1 million, an increase of $70.9 million from $480.2 million, representing a 14.8% growth [1][3] - Income from operations surged to $47.3 million, a significant rise of 1326.0% from $3.3 million [1][3] - Adjusted operating income reached $58.4 million, up 295.4% from $14.8 million [1][3] - Net income was reported at $40.9 million, a substantial increase of $36 million compared to $4.9 million [1][3] - Diluted net income per share was $0.94, compared to $0.11 in the previous year, marking a 754.5% increase [1][3] Enrollment and Revenue Metrics - Total enrollments for the first quarter were 222.6K, an 18.5% increase from 187.9K enrollments in the same quarter last year [4] - Career Learning enrollments specifically rose to 91.7K, a 30.4% increase from 70.3K [4] - Revenue per enrollment was $2,303, a slight increase of 0.5% from $2,292 in the previous year [5] Cash Flow and Capital Allocation - As of September 30, 2024, the company's cash and cash equivalents totaled $539.4 million, down from $714.2 million at the end of June 2024 [6] - Capital expenditures for the quarter were $14.8 million, a decrease from $16.1 million in the same period last year [6] Fiscal Year 2025 Outlook - The company forecasts revenue for the full fiscal year 2025 to be between $2.225 billion and $2.300 billion [7] - For the second quarter of fiscal year 2025, revenue is expected to be in the range of $560 million to $580 million [7] - Adjusted operating income for the full fiscal year is projected to be between $395 million and $425 million [7]