Filing Flows › Stride (LRN) › Q1 FY26
Stride (LRN) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Oct 29, 2025
Stride (LRN) reported revenue of $621M for the first quarter fiscal 2026 (Q1 FY26), +13% from a year earlier and -5% from the quarter before. Operating margin was 11.1%, net earnings $68.8M (11.1% of revenue).
Stride, Q1 FY26: revenue $621M (+13% year over year), operating margin 11.1%, net earnings $68.8M, operating cash flow −$196M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $621M | -5% | +13% |
| Gross profit | $242M | +1% | +12% |
| Operating profit | $69.0M | +21% | +46% |
| Net earnings | $68.8M | +34% | +68% |
| Operating cash flow | −$196M | -166% | — |
What changed
Revenue was $620.9M in Q1 FY26, up 13% year over year and down 5% from the previous quarter. General Education was the largest line at 58% of revenue. Middle - High School added $42.6M year over year (up 21%), 61% of the total change. Adult declined 29%.
Gross margin was 39.0%, down 0.2 points from a year earlier. Operating profit was $69.0M, a 11.1% margin (up 2.5 points year over year). Of the extra revenue versus a year earlier, 31% reached operating profit, above the 9% margin then. Operating expenses grew 3% against revenue growth of 13%. Net earnings were $68.8M, up 68% year over year. The effective tax rate was 17.3%.
Operating cash flow was −$195.8M. Non-cash charges added back $29.2M of depreciation and amortization and $10.2M of share-based compensation. Working capital and other items used $304.0M. Capital expenditures of $306K exceeded it, leaving free cash flow of −$196.1M.
Questions
What was Stride's revenue in the first quarter fiscal 2026?
Stride (LRN) reported revenue of $621M for the first quarter fiscal 2026 (Q1 FY26), +13% from a year earlier and -5% from the quarter before.
Was Stride profitable in the first quarter fiscal 2026?
Operating profit was $69.0M (11.1% of revenue) and net earnings $68.8M.
Source: Stride 10-Q on SEC EDGAR.