Stride Inc (LRN) financial statements: income statement, balance sheet and cash flow

Stride Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jun 30, 2026 · FY), Stride Inc reported revenue of $2.5B (+4.7% year on year) and net income of $338.2M (+17.5% year on year).

Income statement

Stride Inc income statement, fiscal years

Line item	Jun 30, 2026 · FY	Jun 30, 2025 · FY	Jun 30, 2024 · FY	Jun 30, 2023 · FY
Revenues	$2.5B	$2.4B	$2.0B	$1.8B
Instructional costs and services	$1.6B	$1.5B	$1.3B	$1.2B
Gross margin	$950.6M	$943.9M	$763.6M	$647.1M
Selling, general, and administrative expenses	$499.8M	$524.3M	$514.0M	$481.6M
Income from operations	$450.8M	$360.1M	$249.6M	$165.5M
Interest expense, net	($11.8M)	($10.5M)	($8.8M)	($8.4M)
Other income, net	$2.2M	$33.6M	$26.9M	$15.5M
Income before income taxes and income (loss) from equity method investments	$441.2M	$383.2M	$267.7M	$172.5M
Income tax expense	($102.8M)	($93.0M)	($64.5M)	($45.3M)
Income (loss) from equity method investments	($205.0K)	($2.3M)	$977.0K	($334.0K)
Net income attributable to common stockholders	$338.2M	$287.9M	$204.2M	$126.9M
Basic (in dollars per share)	$7.92	$6.69	$4.79	$3.00
Diluted (in dollars per share)	$7.14	$5.95	$4.69	$2.97
Basic (in shares)	42.7M	43.0M	42.6M	42.3M
Diluted (in shares)	47.3M	48.4M	43.5M	42.7M

Stride Inc income statement, quarters

Line item	Sep 30, 2026 · Q1	Mar 31, 2026 · Q3	Dec 31, 2025 · Q2	Sep 30, 2025 · Q1
Revenues	$639.4M	$629.9M	$631.3M	$620.9M
Instructional costs and services	$398.3M	$398.3M	$371.6M	$378.8M
Gross margin	$241.1M	$231.6M	$259.6M	$242.1M
Selling, general, and administrative expenses	$156.8M	$102.5M	$112.8M	$173.1M
Income from operations	$84.3M	$129.1M	$146.9M	$69.0M
Interest expense, net	($2.9M)	($3.0M)	($2.8M)	($3.1M)
Other income, net	$1.5M	($5.3M)	($10.8M)	$16.9M
Income before income taxes and income (loss) from equity method investments	$82.8M	$120.7M	$133.3M	$82.8M
Income tax expense	($17.8M)	($31.5M)	($34.0M)	($14.4M)
Income (loss) from equity method investments	($80.0K)	($669.0K)	$169.0K	$401.0K
Net income attributable to common stockholders	$64.9M	$88.5M	$99.5M	$68.8M
Basic (in dollars per share)	$1.57	$2.09	$2.31	$1.59
Diluted (in dollars per share)	$1.45	$1.93	$2.12	$1.40
Basic (in shares)	41.5M	42.3M	43.1M	43.4M
Diluted (in shares)	44.8M	45.8M	46.9M	49.2M

Balance sheet

Stride Inc balance sheet, fiscal years

Line item	Jun 30, 2026 · FY	Jun 30, 2025 · FY	Jun 30, 2024 · FY	Jun 30, 2023 · FY
Cash and cash equivalents	$754.5M	$782.5M	$500.6M	$410.8M
Accounts receivable, net of allowance of $31,302 and $31,124	$664.8M	$559.6M	$472.8M	$463.7M
Inventories, net	$38.3M	$37.6M	$36.7M	$36.7M
Prepaid expenses	$43.1M	$35.6M	$29.2M	$24.8M
Marketable securities	$203.5M	$202.8M	$191.7M	—
Other current assets	$12.0M	$14.7M	$14.5M	$129.1M
Total current assets	$1.7B	$1.6B	$1.2B	$1.1B
Property and equipment, net	$102.0M	$78.6M	$50.9M	$52.3M
Capitalized software, net	$95.0M	$75.3M	$82.0M	$83.5M
Capitalized curriculum development costs, net	$56.9M	$58.6M	$53.2M	$50.8M
Intangible assets, net	$10.9M	$18.2M	$60.3M	$74.8M
Goodwill	$246.7M	$246.7M	$246.7M	$246.7M
Deposits and other assets	$207.9M	$141.5M	$120.3M	$109.2M
Total assets	$2.4B	$2.3B	$1.9B	$1.8B
Accounts payable	$46.7M	$44.0M	$41.0M	$48.9M
Accrued liabilities	$95.4M	$103.3M	$60.8M	$76.6M
Accrued compensation and benefits	$62.9M	$74.9M	$64.9M	$57.4M
Deferred revenue	$20.6M	$27.0M	$35.7M	$76.2M
Current portion of finance lease liability	$60.5M	$42.3M	$29.1M	$35.6M
Current portion of operating lease liability	$2.7M	$11.4M	$12.7M	$14.4M
Total current liabilities	$288.9M	$302.9M	$244.3M	$309.1M
Long-term finance lease liability	$56.5M	$44.6M	$26.5M	$21.3M
Long-term operating lease liability	$8.3M	$35.2M	$45.2M	$59.4M
Long-term debt	$418.0M	$416.3M	$414.7M	$413.0M
Deferred tax liability	$13.0M	—	—	—
Other long-term liabilities	$18.6M	$15.4M	$13.8M	$10.5M
Total liabilities	$803.2M	$814.3M	$744.4M	$813.4M
Common stock, par value $0.0001; 100,000,000 shares authorized; 49,126,917 and 48,852,419 shares issued; and 41,477,230 and 43,517,676 shares outstanding, respectively	4.0K	4.0K	4.0K	4.0K
Additional paid-in capital	$739.8M	$735.7M	$720.0M	$695.5M
Accumulated other comprehensive loss	($59.0K)	($67.0K)	($42.0K)	($35.0K)
Retained earnings	$1.2B	$846.5M	$558.5M	$354.3M
Treasury stock of 7,649,687 and 5,334,743 shares at cost, respectively	-292.1M	-102.5M	-102.5M	-102.5M
Total stockholders' equity	$1.6B	$1.5B	$1.2B	$947.3M
Total liabilities and stockholders' equity	$2.4B	$2.3B	$1.9B	$1.8B

Stride Inc balance sheet, quarters

Line item	Sep 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025
Cash and cash equivalents	$547.8M	$614.0M	$497.1M	$518.4M
Accounts receivable, net of allowance of $31,751 and $31,302	$854.8M	$854.9M	$869.0M	$809.3M
Inventories, net	$22.7M	$21.5M	$17.9M	$19.8M
Prepaid expenses	$75.3M	$64.6M	$74.4M	$91.3M
Marketable securities	$241.4M	$191.8M	$128.6M	$196.7M
Other current assets	$12.4M	$12.0M	$13.3M	$14.6M
Total current assets	$1.8B	$1.8B	$1.6B	$1.7B
Property and equipment, net	$173.0M	$103.3M	$110.6M	$113.0M
Capitalized software, net	$101.9M	$82.7M	$79.1M	$76.2M
Capitalized curriculum development costs, net	$60.0M	$62.4M	$61.1M	$59.6M
Intangible assets, net	$9.1M	$12.6M	$14.4M	$16.3M
Goodwill	$246.7M	$246.7M	$246.7M	$246.7M
Deposits and other assets	$185.9M	$180.4M	$194.4M	$171.2M
Total assets	$2.5B	$2.4B	$2.3B	$2.3B
Accounts payable	$75.9M	$45.1M	$45.7M	$55.6M
Accrued liabilities	$68.4M	$96.8M	$63.4M	$59.5M
Accrued compensation and benefits	$28.2M	$60.4M	$43.4M	$43.9M
Deferred revenue	$6.8M	$19.1M	$5.1M	$18.8M
Current portion of finance lease liability	$85.5M	$58.5M	$58.5M	$55.3M
Current portion of operating lease liability	$2.4M	$3.2M	$4.1M	$10.5M
Current portion of debt	$418.4M	—	—	—
Total current liabilities	$685.6M	$283.2M	$220.1M	$243.6M
Long-term finance lease liability	$104.7M	$59.3M	$66.0M	$69.7M
Long-term operating lease liability	$8.1M	$8.8M	$10.6M	$35.7M
Deferred tax liability	$41.1M	$17.5M	$26.5M	$21.6M
Other long-term liabilities	$19.7M	$18.7M	$18.3M	$18.3M
Total liabilities	$859.2M	$805.0M	$758.7M	$805.7M
Common stock, par value $0.0001; 100,000,000 shares authorized; 49,681,525 and 49,126,917 shares issued; and 42,031,838 and 41,477,230 shares outstanding, respectively	4.0K	4.0K	4.0K	4.0K
Additional paid-in capital	$714.3M	$729.9M	$724.4M	$714.7M
Accumulated other comprehensive loss	($60.0K)	($59.0K)	($63.0K)	($64.0K)
Retained earnings	$1.2B	$1.1B	$1.0B	$915.3M
Treasury stock of 7,649,687 shares at cost	-292.1M	-191.1M	-191.2M	-102.5M
Total stockholders' equity	$1.7B	$1.6B	$1.5B	$1.5B
Total liabilities and stockholders' equity	$2.5B	$2.4B	$2.3B	$2.3B

Cash flow statement

Stride Inc cash flow statement, fiscal years

Line item	Jun 30, 2026 · FY	Jun 30, 2025 · FY	Jun 30, 2024 · FY	Jun 30, 2023 · FY
Net income	$338.2M	$287.9M	$204.2M	$126.9M
Depreciation and amortization expense	$126.6M	$114.7M	$109.7M	$110.4M
Stock-based compensation expense	$40.3M	$36.8M	$31.5M	$20.3M
Deferred income taxes	$40.0M	($17.8M)	$2.9M	($10.4M)
Provision for credit losses	$16.5M	$15.3M	$22.8M	$9.2M
Amortization of fees on debt	$1.7M	$1.6M	$1.6M	—
Noncash operating lease expense	$5.1M	$12.3M	$14.2M	$14.7M
Other	$20.5M	($596.0K)	$849.0K	($2.0M)
Accounts receivable	($121.4M)	($102.2M)	($32.1M)	($54.9M)
Inventories, prepaid expenses, deposits and other current and long-term assets	$6.5M	($6.2M)	($8.9M)	($19.4M)
Accounts payable	$2.2M	$310.0K	($6.8M)	($12.0M)
Accrued liabilities	($10.2M)	$40.9M	($16.6M)	$24.1M
Accrued compensation and benefits	($11.8M)	$9.9M	$7.4M	($15.5M)
Operating lease liability	($16.9M)	($12.4M)	($15.0M)	($12.2M)
Deferred revenue and other liabilities	($3.3M)	($7.2M)	($37.1M)	$22.3M
Net cash provided by operating activities	$433.8M	$432.8M	$278.8M	$203.2M
Purchase of property and equipment	($587.0K)	($1.8M)	($2.3M)	($4.3M)
Capitalized software development costs	($61.6M)	($36.4M)	($40.7M)	($45.0M)
Capitalized curriculum development costs	($16.7M)	($21.8M)	($18.7M)	($17.2M)
Other acquisitions, loans and investments, net of distributions	($55.5M)	($20.7M)	($5.2M)	($1.7M)
Proceeds from the maturity of marketable securities	$279.5M	$252.9M	$204.5M	$91.9M
Purchases of marketable securities	($324.9M)	($260.2M)	($277.6M)	($140.6M)
Net cash used in investing activities	($179.8M)	($88.0M)	($139.9M)	($118.2M)
Repayments on finance lease obligations	($56.9M)	($41.5M)	($40.9M)	($43.0M)
Purchase of treasury stock	($188.7M)	—	—	—
Repurchase of restricted stock for income tax withholding	($36.5M)	($21.5M)	($8.2M)	($13.5M)
Net cash used in financing activities	($282.0M)	($62.9M)	($49.1M)	($63.5M)
Net change in cash, cash equivalents and restricted cash	($28.0M)	$281.9M	$89.8M	$21.4M
Cash, cash equivalents and restricted cash, beginning of period	$782.5M	$500.6M	$410.8M	$389.4M
Cash, cash equivalents and restricted cash, end of period	$754.5M	$782.5M	$500.6M	$410.8M

Stride Inc cash flow statement, quarters

Line item	Sep 30, 2026 · Q1	Mar 31, 2026 · YTD	Dec 31, 2025 · YTD	Sep 30, 2025 · Q1
Net income	$64.9M	$256.8M	$168.3M	$68.8M
Depreciation and amortization expense	$34.9M	$92.8M	$60.2M	$29.2M
Stock-based compensation expense	($7.4M)	$30.1M	$20.5M	$10.2M
Deferred income taxes	$29.4M	$45.6M	$54.4M	$49.5M
Provision for credit losses	$2.1M	$10.7M	$8.3M	$3.4M
Amortization of fees on debt	$435.0K	$1.3M	$859.0K	$429.0K
Noncash operating lease expense	$352.0K	$4.5M	$4.0M	$2.7M
Other	$8.1M	$11.9M	($623.0K)	($4.0M)
Accounts receivable	($191.9M)	($305.9M)	($317.6M)	($253.0M)
Inventories, prepaid expenses, deposits and other current and long-term assets	($18.4M)	$11.6M	($549.0K)	($36.3M)
Accounts payable	$27.9M	$1.2M	$3.8M	$15.7M
Accrued liabilities	($28.6M)	($8.8M)	($41.7M)	($45.4M)
Accrued compensation and benefits	($33.3M)	($14.3M)	($31.3M)	($30.9M)
Operating lease liability	($899.0K)	($15.9M)	($13.5M)	($879.0K)
Deferred revenue and other liabilities	($12.6M)	($4.6M)	($19.0M)	($5.2M)
Net cash used in operating activities	($124.8M)	$117.0M	($103.9M)	($195.8M)
Purchase of property and equipment	($4.0K)	($587.0K)	($52.0K)	($306.0K)
Capitalized software development costs	($17.9M)	($37.5M)	($24.7M)	($13.7M)
Capitalized curriculum development costs	($6.6M)	($18.2M)	($12.9M)	($7.7M)
Sale of other investments	$35.1M	—	—	—
Other acquisitions, loans and investments, net of distributions	($886.0K)	($54.3M)	($50.3M)	($2.6M)
Proceeds from the maturity of marketable securities	$61.6M	$213.9M	$183.4M	$61.8M
Purchases of marketable securities	($117.3M)	($222.6M)	($130.1M)	($62.2M)
Net cash used in investing activities	($45.9M)	($119.3M)	($34.7M)	($24.7M)
Repayments on finance lease obligations	($16.5M)	($41.3M)	($25.9M)	($12.0M)
Repurchase of restricted stock for income tax withholding	($19.5M)	($36.2M)	($32.2M)	($31.6M)
Net cash used in financing activities	($36.0M)	($166.1M)	($146.8M)	($43.6M)
Net change in cash, cash equivalents and restricted cash	($206.8M)	($168.4M)	($285.4M)	($264.1M)
Cash, cash equivalents and restricted cash, beginning of period	$754.5M	$782.5M	$782.5M	$782.5M
Cash, cash equivalents and restricted cash, end of period	$547.8M	$614.0M	$497.1M	$518.4M

Stride Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.