Filing Flows › Stride (LRN) › Q2 FY26
Stride (LRN) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jan 28, 2026
Stride (LRN) reported revenue of $631M for the second quarter fiscal 2026 (Q2 FY26), +8% from a year earlier and +2% from the quarter before. Operating margin was 23.3%, net earnings $99.5M (15.8% of revenue).
Stride, Q2 FY26: revenue $631M (+8% year over year), operating margin 23.3%, net earnings $99.5M, operating cash flow $91.8M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $631M | +2% | +8% |
| Gross profit | $260M | +7% | +8% |
| Operating profit | $147M | +113% | +17% |
| Net earnings | $99.5M | +45% | +3% |
| Operating cash flow | $91.8M | — | -59% |
What changed
Revenue was $631.3M in Q2 FY26, up 8% year over year and up 2% from the previous quarter. General Education was the largest line at 54% of revenue. Middle - High School added $62.5M year over year (up 29%), 142% of the total change. Adult declined 28%.
Gross margin was 41.1%, up 0.3 points from a year earlier. Operating profit was $146.9M, a 23.3% margin (up 2.0 points year over year). Of the extra revenue versus a year earlier, 49% reached operating profit, above the 21% margin then. Operating expenses fell 2% while revenue rose 8%. Net earnings were $99.5M, up 3% year over year. The effective tax rate was 25.5%.
Operating cash flow was $91.8M (down 59% year over year), 92% of net earnings. Non-cash charges added back $31.0M of depreciation and amortization and $10.3M of share-based compensation. Working capital and other items used $48.9M. Capital expenditures of −$254K left free cash flow of $92.1M.
Questions
What was Stride's revenue in the second quarter fiscal 2026?
Stride (LRN) reported revenue of $631M for the second quarter fiscal 2026 (Q2 FY26), +8% from a year earlier and +2% from the quarter before.
Was Stride profitable in the second quarter fiscal 2026?
Operating profit was $147M (23.3% of revenue) and net earnings $99.5M.
Source: Stride 10-Q on SEC EDGAR.