Q1 FY2026 Performance - Total enrollments reached 247700, an increase of 113% year-over-year[8] - Adjusted Operating Income was $811 million, up 39% year-over-year[12] - Adjusted EBITDA was $1084 million, up 29% year-over-year[12] - Adjusted EPS was $152, up 39% year-over-year[12] Financial Growth and Guidance - Q1 FY26 total revenue was $6209 million, representing a 127% increase year-over-year[21] - The company is guiding for FY26 revenue between $248 billion and $2555 billion, representing approximately 5% year-over-year growth at the midpoint[23, 24] - The company is guiding for FY26 Adjusted Operating Income between $475 million and $500 million, representing approximately 5% year-over-year growth at the midpoint[23, 24] Secular Trends and Market Demand - 60% of parents searched for new schools for their children in the last year, with 27% considering full-time online education options[13] - 44% of parents fear for their children's safety at school[13] - 81% of K-12 parents support making K-12 education more flexible[13] - Only 35% of Americans are satisfied with K-12 education in the US[13] Balance Sheet and Capital Allocation - The company has a strong balance sheet with $7496 million in cash, cash equivalents, and marketable securities[25] - Total debt obligations are $5418 million, resulting in a leverage ratio of 004x[25] - The company prioritizes organic growth, new product and technology development, and synergistic M&A[28]