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Stride cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$125M in Q1 FY27 · $505M over twelve months

Operating cash flow−$125M
Capital spending−$4K
Free cash flow−$125M
Cash / net income-1.9×
Cash conversion cycle102 days

Analysis

In Q1 FY27, Stride generated −$125M of operating cash flow and spent $4K on capital projects, leaving free cash flow of −$125M. That is $71.3M more than in Q1 FY26 (−$196M).

Over the twelve months to Sep 30, 2026, operating cash flow was $505M; the largest uses were other financing ($213M), other investing ($201M), net borrowing (+) / repaid (−) ($61.4M); the cash balance rose by $29.3M.

Operating cash flow was −$125M against net income of $64.9M — -1.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$192M, depreciation & amortization +$34.9M, employee-related liabilities −$33.3M.

Its cash conversion cycle was 102 days (receivables 109 + inventory 7 − payables 14).

Free cash flow

Stride: free cash flow by quarterStride: free cash flow by quarter$223MQ2 FY25$52.9MQ3 FY25$298MQ4 FY25−$196MQ1 FY26$92.1MQ2 FY26$220MQ3 FY26$317MQ4 FY26−$125MQ1 FY27
Operating cash flow less capital spending.
Stride: operating cash flow against capital spendingStride: operating cash flow against capital spendingOperating cash flowCapital spending$223M$484KQ2 FY25$53.1M$197KQ3 FY25$298M$431KQ4 FY25−$196M$306KQ1 FY26$91.8M−$254KQ2 FY26$221M$535KQ3 FY26$317M$0Q4 FY26−$125M$4KQ1 FY27
Latest (Q1 FY27): Operating cash flow −$125M, Capital spending $4K.

Capital allocation, year by year

Stride: where the cash came from (up) and went (down), by fiscal yearStride: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY22: Operating cash flow $207MFY22: Net borrowing −$33.0MFY22: Shares issued $414KFY22: Capital spending −$9.7M$207MFY22FY23: Operating cash flow $203MFY23: Net borrowing −$43.0MFY23: Shares issued $20KFY23: Capital spending −$4.3M$203MFY23FY24: Operating cash flow $279MFY24: Net borrowing −$40.9MFY24: Capital spending −$2.3M$279MFY24FY25: Operating cash flow $433MFY25: Net borrowing −$41.5MFY25: Capital spending −$1.8M$433MFY25FY26: Operating cash flow $434MFY26: Net borrowing −$56.9MFY26: Capital spending −$587KFY26: Buybacks −$189M$434MFY26
Over these 5 years operating cash flow totalled $1.6B; the largest uses were net borrowing ($215M) and buybacks ($189M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$789M
Debt$418M
Net cash$371M
Due within a year$418M

Stride funds itself: free cash flow was $505M over the last twelve months, and $789M of cash and investments stands against $418M of debt ($418M due within a year, 1.9× covered by cash).

Where the cash came from and went

Stride: sources (+) and uses (−) of cash, Q1 FY27Stride: sources (+) and uses (−) of cash, Q1 FY27Cash drawn (+) / kept (−)$207MOperating cash flow−$125MOther investing−$45.9MOther financing−$19.5MNet borrowing (+) / repaid (−)−$16.5MCapital spending−$4K
Stride: sources (+) and uses (−) of cash, TTM to Q1 FY27Stride: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$505MOther financing−$213MOther investing−$201MNet borrowing (+) / repaid (−)−$61.4MCash drawn (+) / kept (−)−$29.3MCapital spending−$285K

From profit to cash

Stride: net income to operating cash flow, Q1 FY27Stride: net income to operating cash flow, Q1 FY27Net income$64.9MDepreciation & amortization$34.9MStock-based pay−$7.4MDeferred taxes$29.4MReceivables−$192MPayables$27.9MAccrued liabilities−$28.6MEmployee-related liabilities−$33.3MOperating cash flow−$125M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY27109714102
Q4 FY26109610105
Q3 FY26123410117
Q2 FY26122513114
Q1 FY2610171296
Q4 FY25887985
Q3 FY25945991
Q2 FY259961194

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 FY27−$125M−$4K—−$16.5M$207M−$125M
Q4 FY26$317M—−$100M−$15.6M−$140M$317M
Q3 FY26$221M−$535K—−$15.3M−$117M$220M
Q2 FY26$91.8M$254K—−$14.0M$21.3M$92.1M
Q1 FY26−$196M−$306K—−$12.0M$264M−$196M
Q4 FY25$298M−$431K—−$11.5M−$251M$298M
Q3 FY25$53.1M−$197K—−$13.2M−$13.5M$52.9M
Q2 FY25$223M−$484K—−$8.0M−$200M$223M

Stride: income statement and cash flow

Stride, Q1 FY27: revenue $639M (+3% year over year), operating margin 13.2%. The chart follows the revenue to costs, profit and cash.

Stride: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.