Stride, Inc., together with its subsidiaries, provides proprietary and third-party online curriculum, software systems, and educational services in the United States and internationally. Its technology-based products and services enable clients to attract, enroll, educate, track progress, support, and facilitate individualized learning for students. The company offers integrated package of systems, services, products, and professional expertise to support a virtual or blended public school; learning software and support services to schools and school districts; individual online courses and supplemental educational products; and products and services for the general education market focused on subjects, including math, English, science, and history for kindergarten through twelfth grade students. It also provides career learning products and services that are focused on developing skills to enter in industries, including information technology, health care, and business; and operates tuition-based private schools. In addition, the company offers focused post-secondary career learning programs, which include skills training for software engineering, healthcare, and medical fields to adult learners under Galvanize, Tech Elevator, and MedCerts brands, as well as provides staffing and talent development services to employers. It serves public and private schools, school districts, charter boards, consumers, employers, and government agencies. The company was formerly known as K12 Inc. and changed its name to Stride, Inc. in December 2020. Stride, Inc. was incorporated in 1999 and is headquartered in Reston, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.4B | $508M | $288M | $373M | 19.5% | 17.9% | 41.0% |
| 2024 | $2.0B | $386M | $204M | $217M | 17.4% | 11.0% | 60.9% |
| 2023 | $1.8B | $291M | $127M | $137M | 13.4% | 8.9% | 18.4% |
| 2022 | $1.7B | $253M | $107M | $139M | 13.2% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,686.67 | 1,837.36 | 2,040.07 | 2,405.32 |
| Operating Revenue | - | 1,686.67 | 1,837.36 | 2,040.07 | 2,405.32 |
| Cost Of Revenue | - | 1,090.19 | 1,190.29 | 1,276.47 | 1,461.40 |
| Gross Profit | - | 596.48 | 647.07 | 763.60 | 943.92 |
| Operating Expense | - | 439.85 | 481.57 | 514 | 524.35 |
| Selling General And Administration | - | 439.85 | 481.57 | 514 | 524.35 |
| Total Expenses | - | 1,530.04 | 1,671.86 | 1,790.47 | 1,985.74 |
| Operating Income | - | 156.63 | 165.50 | 249.60 | 419.57 |
| Total Operating Income As Reported | - | 156.63 | 165.50 | 249.60 | 360.09 |
| EBITDA | - | 253.26 | 291.31 | 386.18 | 508.39 |
| Normalized EBITDA | - | 253.26 | 291.31 | 386.18 | 567.87 |
| EBIT | - | 155.35 | 180.95 | 276.50 | 393.72 |
| Interest Expense | - | 8.28 | 8.40 | 8.81 | 10.50 |
| Net Interest Income | - | -8.28 | -8.40 | -8.81 | -10.50 |
| Other Non Operating Income Expenses | - | -1.28 | 15.45 | 26.90 | 33.63 |
| Other Income Expense | - | -1.28 | 15.45 | 26.90 | -25.85 |
| Interest Expense Non Operating | - | 8.28 | 8.40 | 8.81 | 10.50 |
| Net Non Operating Interest Income Expense | - | -8.28 | -8.40 | -8.81 | -10.50 |
| Pretax Income | - | 147.07 | 172.55 | 267.69 | 383.22 |
| Tax Provision | - | 40.09 | 45.35 | 64.48 | 93.01 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | -14.51 |
| Net Income Continuous Operations | - | 107.13 | 126.87 | 204.18 | 287.94 |
| Net Income From Continuing And Discontinued Operation | - | 107.13 | 126.87 | 204.18 | 287.94 |
| Net Income From Continuing Operation Net Minority Interest | - | 107.13 | 126.87 | 204.18 | 287.94 |
| Net Income | - | 107.13 | 126.87 | 204.18 | 287.94 |
| Net Income Common Stockholders | - | 107.13 | 126.87 | 204.18 | 287.94 |
| Net Income Including Noncontrolling Interests | - | 107.13 | 126.87 | 204.18 | 287.94 |
| Normalized Income | - | 107.13 | 126.87 | 204.18 | 332.91 |
| Diluted NI Availto Com Stockholders | - | 107.13 | 126.87 | 204.18 | 287.94 |
| Basic Average Shares | - | 41.45 | 42.29 | 42.63 | 43.04 |
| Diluted Average Shares | - | 42.44 | 42.73 | 43.54 | 48.41 |
| Reconciled Depreciation | - | 97.91 | 110.36 | 109.68 | 114.67 |
| Reconciled Cost Of Revenue | - | 1,090.19 | 1,190.29 | 1,276.47 | 1,461.40 |
| Total Unusual Items | - | - | 0 | 0 | -59.48 |
| Total Unusual Items Excluding Goodwill | - | - | 0 | 0 | -59.48 |
| Earnings From Equity Interest Net Of Tax | - | 0.14 | -0.33 | 0.98 | -2.27 |
| Special Income Charges | - | - | 0 | 0 | -59.48 |
| Impairment Of Capital Assets | - | - | 0 | 0 | 59.48 |
| Total Other Finance Cost | 17.98 | 8.28 | - | - | - |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Stride, Inc.this co. | LRN | $4.3B | 15.06β discount | 2.93 | 19.5% | 8.07 |
| PriceSmart, Inc. | PSMT | $5.3B | 36.16 | 4.29 | 11.9% | 17.75 |
| Laureate Education, Inc. | LAUR | $4.7B | 16.68 | 3.95 | 23.7% | 9.70 |
| Covista Inc. | CVSA | $4.2B | 17.86 | 2.95 | 16.5% | 11.26 |
| The Vita Coco Company, Inc. | COCO | $4.2B | 59.24 |
| - |
| - |
| - |
| - |
| 12.74 |
| 21.5% |
| 48.36 |
| Cal-Maine Foods, Inc. | CALM | $3.5B | 2.89 | 1.38 | 47.6% | 1.26 |
| National Beverage Corp. | FIZZ | $3.3B | 17.41 | 7.33 | 42.1% | 12.21 |
| United Natural Foods, Inc. | UNFI | $3.2B | -27.35 | 2.08 | -7.6% | 21.68 |
| The Chefs' Warehouse, Inc. | CHEF | $3.2B | 43.70 | 5.23 | 12.0% | 17.99 |
| Peer Median | - | 17.64 | 4.12 | 19.0% | 14.98 | |