Stride(US:LRN)2024-10-22 21:06Q1 FY25 Performance Highlights - Total enrollments reached 222600, an increase of 185% year-over-year[7] - Q1 Adjusted Operating Income was $584 million, the largest first-quarter profit ever for the company[7] - Q1 Revenue was $5511 million, up 15% year-over-year[8] - Q1 Adjusted EBITDA was $839 million, up 111% year-over-year[8] Revenue and Enrollment Trends - General Education revenue increased by 101% to $3294 million[9] - Career Learning revenue increased by 226% to $2217 million, with Middle – High School up 317% to $1989 million and Adult down 237% to $228 million[9] - General Education enrollments increased by 113% to 130900[10] - Career Learning enrollments increased by 304% to 91700[10] FY25 Guidance - The company projects FY25 revenue between $2225 billion and $23 billion, representing an 11% year-over-year growth at the midpoint[12] - The company projects FY25 Adjusted Operating Income between $395 million and $425 million, representing a 39% year-over-year growth at the midpoint[12] Financial Position - Cash, Cash Equivalents & Marketable Securities totaled $5394 million as of September 30, 2024[13] - Total Debt Obligations were $5052 million as of September 30, 2024[13] - Leverage ratio is 043x, defined as Net Debt divided by Adjusted EBITDA for the twelve months ended September 30, 2024[13] Long-Term Growth Targets - The company is on track to achieve FY28 targets outlined in the November 2023 Investor Day[7]