Stride (LRN) financial statements
Stride reported revenue of $2.5B in fiscal 2026, up 12.3% a year over 9 years.
Net income was $338M and the operating margin 17.9%, against 1.5% in 2017.
Free cash flow was $372M, and the company returned $189M in net buybacks.
The diluted share count rose 20% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Stride's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $889M | $918M | $1.0B | $1.0B | $1.5B | $1.7B | $1.8B | $2.0B | $2.4B | $2.5B |
| Cost of revenue | $557M | $592M | $663M | $693M | $1.0B | $1.1B | $1.2B | $1.3B | $1.5B | $1.6B |
| Gross profit | $331M | $325M | $352M | $348M | $535M | $596M | $647M | $764M | $944M | $951M |
| Research and development | $12M | $9M | $9M | $10M | $4M | $8M | $16M | $17M | $17M | $22M |
| Selling, general and admin | $306M | $300M | $307M | $315M | $424M | $440M | $482M | $514M | $524M | $500M |
| Operating income | $13M | $26M | $45M | $32M | $110M | $157M | $165M | $250M | $360M | $451M |
| Pre-tax income | $5M | $27M | $48M | $33M | $95M | $147M | $173M | $268M | $383M | $441M |
| Income tax | $5M | -$910,000 | $11M | $9M | $25M | $40M | $45M | $64M | $93M | $103M |
| Net income | $451,000 | $28M | $37M | $25M | $71M | $107M | $127M | $204M | $288M | $338M |
| EPS (diluted) | $0.01 | $0.68 | $0.91 | $0.60 | $1.71 | $2.52 | $2.97 | $4.69 | $5.95 | $7.14 |
| Diluted shares | 40M | 41M | 41M | 41M | 42M | 42M | 43M | 44M | 48M | 47M |
| Gross margin | 37.3% | 35.4% | 34.7% | 33.4% | 34.8% | 35.4% | 35.2% | 37.4% | 39.2% | 37.8% |
| Operating margin | 1.5% | 2.8% | 4.5% | 3.1% | 7.2% | 9.3% | 9.0% | 12.2% | 15.0% | 17.9% |
| Net margin | 0.1% | 3.0% | 3.7% | 2.4% | 4.6% | 6.4% | 6.9% | 10.0% | 12.0% | 13.4% |
Balance sheet
Fiscal years, from Stride's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $231M | $231M | $283M | $212M | $386M | $389M | $523M | $692M | $985M | $958M |
| Receivables | $192M | $176M | $192M | $236M | $369M | $419M | $464M | $473M | $560M | $665M |
| Inventory | $31M | $26M | $30M | $28M | $40M | $36M | $37M | $37M | $38M | $38M |
| Total current assets | $474M | $454M | $530M | $501M | $858M | $951M | $1.1B | $1.2B | $1.6B | $1.7B |
| Property, plant and equipment | $26M | $29M | $32M | $39M | $72M | $62M | $52M | $51M | $79M | $102M |
| Goodwill | $87M | $90M | $90M | $175M | $240M | $241M | $247M | $247M | $247M | $247M |
| Total assets | $735M | $742M | $820M | $1.1B | $1.6B | $1.6B | $1.8B | $1.9B | $2.3B | $2.4B |
| Total current liabilities | $118M | $116M | $156M | $273M | $306M | $302M | $309M | $244M | $303M | $289M |
| Long-term debt | — | — | — | — | $299M | $411M | $413M | $415M | $416M | $418M |
| Total liabilities | $160M | $155M | $186M | $398M | $773M | $831M | $813M | $744M | $814M | $803M |
| Shareholders' equity | $574M | $587M | $633M | $675M | $805M | $813M | $947M | $1.2B | $1.5B | $1.6B |
| Net debt | -$231M | -$231M | -$283M | -$212M | -$87M | $22M | $2M | -$86M | -$366M | -$337M |
Cash flow
Fiscal years, from Stride's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $89M | $105M | $142M | $80M | $134M | $207M | $203M | $279M | $433M | $434M |
| Capital spending | $29M | $33M | $32M | $26M | $35M | $52M | $49M | $43M | $38M | $62M |
| Free cash flow | $60M | $72M | $110M | $55M | $99M | $155M | $154M | $236M | $395M | $372M |
| Stock-based compensation | $23M | $21M | $17M | $24M | $39M | $19M | $20M | $31M | $37M | $40M |
| Share buybacks (net) | — | -$27M | — | — | — | — | — | — | — | -$189M |
| Free cash flow margin | 6.7% | 7.9% | 10.8% | 5.3% | 6.5% | 9.2% | 8.4% | 11.6% | 16.4% | 14.8% |
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Open LRN in InvestinglyQuestions
What was Stride's revenue in 2026?
$2.5B in fiscal 2026, from its 10-K filing.
How much free cash flow does Stride generate?
$372M in fiscal 2026 (operating cash flow minus capital spending).
From Stride's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.