Stride Posts Record Quarterly Results

Core Insights - Stride, Inc. reported strong financial results for the second fiscal quarter of 2025, with significant increases in revenues and net income compared to the same period in 2024 [1][2][6]. Financial Performance - Revenues for the second quarter reached $587.2 million, an increase of 16.3% from $504.9 million in the same quarter of 2024 [3][6]. - Income from operations was $125.1 million, up 48.4% from $84.3 million year-over-year [3][6]. - Net income rose to $96.4 million, a 44.2% increase from $66.8 million in the prior year [3][6]. - Diluted net income per share increased by 31.8% to $2.03 from $1.54 [3][6]. - Adjusted operating income for the quarter was $135.6 million, reflecting a 42.9% increase from $94.9 million [3][6]. - EBITDA for the quarter was $152.5 million, a 37.7% increase from $110.8 million [3][6]. Enrollment and Revenue Metrics - Average enrollments for the second quarter were 230.6K, a 19.4% increase from 193.1K enrollments in the same quarter of fiscal year 2024 [10]. - Career Learning enrollments averaged 94.8K, up 30.9% compared to 72.4K in the same period last year [10]. - Revenue per enrollment was $2,395, remaining relatively flat compared to $2,396 in the second quarter of fiscal year 2024 [12]. Cash Flow and Capital Allocation - As of December 31, 2024, the company's cash and cash equivalents totaled $738.1 million, an increase from $714.2 million at the end of June 2024 [14]. - Capital expenditures for the quarter were $14.8 million, compared to $12.7 million in the same quarter of the previous year [14]. Fiscal Year 2025 Outlook - The company raised its revenue and adjusted operating income forecast for the full fiscal year 2025, projecting revenues between $2.320 billion and $2.355 billion [18]. - Adjusted operating income is expected to be in the range of $430 million to $450 million for the fiscal year [18].