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Stride (LRN) earnings and revenue breakdown
Latest: Q1 FY27 · 10-Q filed Oct 21, 2026 · Stride (LRN) Q1 FY27 earnings results →
Q1 FY27 Revenue up 3% year over year to $639M · 10¢ of every $1 of revenue kept as net profit · operating margin 13.2%
Stride made $639M in Q1 FY27 (+3% Y/Y): General Education $357M, Career Learning $283M. Operating margin 13.2%, net earnings $64.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 21, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $639.4M in Q1 FY27, up 3% year over year and up 1% from the previous quarter. General Education was the largest line at 56% of revenue. Middle - High School added $30.6M year over year (up 13%), 165% of the total change. Adult declined 34%.
Gross margin was 37.7%, down 1.3 points from Q1 FY26. Operating profit was $84.3M, a 13.2% margin (up 2.1 points year over year). Of the extra revenue versus Q1 FY26, 83% reached operating profit, above the 11% margin then. Operating expenses fell 9% while revenue rose 3%. Net earnings were $64.9M, down 6% year over year. The effective tax rate was 21.5%.
Operating cash flow was −$124.8M. Non-cash charges added back $34.9M of depreciation and amortization. Working capital and other items used $224.6M. Capital expenditures of $4K exceeded it, leaving free cash flow of −$124.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q1 FY27 | 10-Q | Oct 21, 2026 | $639M | +3% | 13.2% | $64.9M | −$125M |
| Q4 FY26 | 10-K | Aug 5, 2026 | $636M | -3% | 16.6% | $81.4M | $317M |
| Q3 FY26 | 10-Q | Apr 29, 2026 | $630M | +3% | 20.5% | $88.5M | $221M |
| Q2 FY26 | 10-Q | Jan 28, 2026 | $631M | +8% | 23.3% | $99.5M | $91.8M |
| Q1 FY26 | 10-Q | Oct 29, 2025 | $621M | +13% | 11.1% | $68.8M | −$196M |
| Q4 FY25 | 10-K | Aug 6, 2025 | $654M | +22% | 8.7% | $51.3M | $298M |
| Q3 FY25 | 10-Q | Apr 30, 2025 | $613M | +18% | 21.3% | $99.3M | $53.1M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Buys from
- MSFT · Stated in 10-K (named, share not stated) · source
- AMZN · Stated in 10-K (named, share not stated) · source
About Stride
We are a technology company providing an educational platform to deliver online learning to students throughout the U.S. Our platform hosts products and services to attract, enroll, educate, track progress, and support students. These products and services, spanning curriculum, systems, instruction, and support services, are designed to help learners of all ages reach their full potential through inspired teaching and personalized learning. Our clients are primarily public and private schools, school districts, and charter boards. Additionally, we provide solutions to employers, government agencies and consumers.
In its own words, from its 10-K, filed Aug 5, 2026.
Stride against its Services-Educational Services peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +3% against the peers' median +4%. Operating margin: 13.2% against the peers' median 12.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| LRN Stride | Q1 FY27 | $639M | +3% | 13.2% |
| GHC Graham Holdings | Q3 2026 | $1.3B | +4% | 6.4% |
| BSAA Best SPAC I Acquisition | Q1 2026 | $1.2B | — | 0.0% |
| CVSA Covista | Q1 FY27 | $512M | +11% | 19.2% |
| LAUR Laureate Education | Q3 2026 | $485M | +21% | 24.6% |
| STRA Strategic Education | Q3 2026 | $325M | +2% | -26.9% |
| LOPE Grand Canyon Education | Q3 2026 | $267M | +2% | 19.3% |
| PXED Phoenix Education Partners | Q4 FY26 | $261M | +1% | 12.0% |
| UTI Universal Technical Institute | Q3 FY26 | $219M | +7% | 1.5% |
Source: Stride 10-Q on SEC EDGAR · CIK 1157408 · Services-Educational Services
13F: who owns LRN and who is buying
More on LRN
History
Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results