<span item_type="fundamental" item_id="7d4ee6aeb280a844d006b7a1d98a66c0" counter_id="ST/US/LRN" env="prod"></span><span item_type="announcement" item_id="642579117126845185" env="prod"></span><p>Revenue: As of FY2026 Q3, the actual value is USD 629.87 M, beating the estimate of USD 629.67 M.</p><p>EPS: As of FY2026 Q3, the actual value is USD 1.93, beating the estimate of USD 1.9167.</p><p>EBIT: As of FY2026 Q3, the actual value is USD 129.08 M.</p><p></p><h3>Third Quarter Fiscal 2026 Performance (Compared to Fiscal 2025)</h3><h4>Revenue</h4><p>Stride, Inc. reported total revenue of $629.9 million, an increase from $613.4 million in the prior year period. General Education revenue was $357.5 million, marking a -3.6% decrease from $370.8 million, while Total Career Learning revenue increased by 12.3% to $272.4 million from $242.6 million. Within Career Learning, Middle - High School revenue grew by 15.9% to $259.5 million from $223.9 million, but Adult revenue decreased by -31.0% to $12.9 million from $18.7 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1157408/000117184326002775/exh_991.htm"></span></p><h4>Operational Metrics</h4><p>Income from operations decreased by -1.3% to $129.1 million from $130.8 million. Net income also saw a decrease of -10.9%, falling to $88.5 million from $99.3 million. Adjusted operating income was $140.4 million, a slight decrease of -0.9% from $141.7 million. Adjusted EBITDA increased by 1.8% to $171.3 million from $168.3 million. Gross margin for the three months ended March 31, 2026, was $231.6 million, compared to $249.3 million in the prior year. Selling, general, and administrative expenses were $102.5 million, down from $118.5 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1157408/000117184326002775/exh_991.htm"></span></p><h3>Nine Month Fiscal 2026 Performance (Compared to Fiscal 2025)</h3><h4>Revenue</h4><p>Total revenue for the nine months ended March 31, 2026, was $1,882.0 million, up 7.4% from $1,751.7 million. General Education revenue increased by 0.7% to $1,062.0 million from $1,054.5 million. Total Career Learning revenue rose by 17.6% to $820.0 million from $697.1 million. Specifically, Middle - High School revenue grew by 22.1% to $776.6 million from $635.8 million, while Adult revenue decreased by -29.1% to $43.4 million from $61.3 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1157408/000117184326002775/exh_991.htm"></span></p><h4>Operational Metrics</h4><p>Income from operations increased by 13.7% to $344.9 million from $303.2 million. Net income grew by 8.5% to $256.8 million from $236.6 million. Adjusted operating income increased by 13.4% to $380.6 million from $335.7 million. Adjusted EBITDA also increased by 13.4% to $467.8 million from $412.6 million. Gross margin for the nine months ended March 31, 2026, was $733.3 million, up from $705.0 million. Selling, general, and administrative expenses were $388.4 million, down from $401.8 million. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1157408/000117184326002775/exh_991.htm"></span></p><h4>Cash Flow</h4><p>Net cash provided by operating activities for the nine months ended March 31, 2026, was $117.0 million, compared to $134.5 million in the prior year. Capital expenditures for the three months ended March 31, 2026, were $18.5 million, up from $15.8 million in the same period of fiscal year 2025. These capital expenditures included $0.5 million for property and equipment, $12.8 million for capitalized software development, and $5.2 million for capitalized curriculum development. The company’s cash and cash equivalents and marketable securities totaled $856.0 million as of March 31, 2026, down from $1,011.4 million at June 30, 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1157408/000117184326002775/exh_991.htm"></span></p><h4>Unique Metrics</h4><p>Third-quarter enrollments increased by 1.8% to 244.5 thousand from 240.2 thousand in the prior year. Career Learning enrollments specifically grew by 11.6% to 110.1 thousand from 98.7 thousand. Revenue per enrollment for the third quarter was $2,485, a 2.9% increase from $2,415. General Education revenue per enrollment was $2,590, up 2.9%, and Career Learning revenue per enrollment was $2,356, up 3.8%. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1157408/000117184326002775/exh_991.htm"></span></p><h3>Fiscal Year 2026 Outlook</h3><p>Stride, Inc. is narrowing its full fiscal year 2026 forecast, expecting revenue in the range of $2.490 billion to $2.520 billion. Adjusted operating income is projected to be between $490 million and $500 million, with capital expenditures forecast between $75 million and $80 million. The company anticipates an effective tax rate of 24% to 25%. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1157408/000117184326002775/exh_991.htm"></span></p>

Stride | 8-K: FY2026 Q3 Revenue Beats Estimate at USD 629.87 M