Stride, Inc. reported revenue of $2,518.1 million for fiscal 2026, up 4.7% from $2,405.3 million a year earlier, with net income of $338.2 million against $287.9 million. Diluted earnings per share came to $7.14, compared with $5.95 in fiscal 2025. The education company's fiscal year ended June 30, 2026.
The fourth quarter moved the other way. Revenue fell 2.7% to $636.1 million from $653.6 million. GAAP income from operations rose 86% to $105.9 million, but that comparison is distorted by a $59.5 million impairment of long-lived assets booked in the prior-year quarter. On an adjusted basis, which excludes that charge along with stock-based compensation and intangible amortization, fourth-quarter operating income fell 9.8% to $117.8 million and adjusted earnings per share slipped to $2.12 from $2.29.
The revenue split shows where the pressure sits. General Education revenue dropped 9.7% in the quarter to $355.8 million and was down 2.1% for the year. Career Learning middle and high school revenue rose 11.1% in the quarter and 19.1% for the year, reaching $1,043.7 million. The smaller Adult Learning business shrank 29.6% over the year to $56.6 million.
Full-year enrollments averaged 243.9 thousand, up 4.2%. Fourth-quarter enrollments averaged 234.2 thousand, down 0.5% year over year, with Career Learning enrollments up 9.7% to 106.4 thousand. Revenue per enrollment for the year was $9,914, up 2.4%; in the fourth quarter it was essentially flat at $2,620.
Cash, cash equivalents and marketable securities totalled $1,034.1 million at June 30, 2026, against $1,011.4 million a year earlier. Operating cash flow was $433.8 million, close to the prior year's $432.8 million, though accounts receivable rose by $121.4 million over the period. Capital expenditure increased to $78.8 million from $60.0 million, driven mainly by $61.6 million of capitalised software development.
Stride bought back roughly 2.3 million shares during the year for about $188.7 million, including approximately $100 million in the fourth quarter alone. Shares outstanding fell to 41.5 million from 43.5 million. Around $311.3 million remains available under the authorisation, which the company said has been extended through October 31, 2027. Long-term debt stood at $418.0 million.
The results are the first reported under Robert Knowling, an independent board member appointed chief executive on July 30, 2026. In the release he said the company would keep investing in curriculum, technology and support services.
Source: GlobeNewswire
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