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How Stride (LRN) makes money

Stride (LRN) made $639M of revenue in the first quarter fiscal 2027 (Q1 FY27), +3% from a year earlier. General Education brought in $357M (56%); Career Learning brought in $283M (44%). Of every dollar of revenue, 38¢ was left as gross profit, 13¢ was left as operating profit, 10¢ was left as net earnings.

Drawing the Sankey…

Stride revenue by segment, Q1 FY27Stride revenue by segment, Q1 FY27General Education$357MCareer Learning$283M
Stride: revenue by line, Q3 FY25 to Q1 FY27Stride: revenue by line, Q3 FY25 to Q1 FY27General EducationCareer LearningGeneral Education: $357M latest$357MCareer Learning: $283M latest$283MQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Career Learning went from 40% of revenue in Q3 FY25 to 44% in Q1 FY27, the largest shift in the mix.
Stride revenue by quarterStride revenue by quarter$613MQ3 FY25$654MQ4 FY25$621MQ1 FY26$631MQ2 FY26$630MQ3 FY26$636MQ4 FY26$639MQ1 FY27
Stride: where each dollar of revenue goesStride: where each dollar of revenue goesCost of revenue62¢Gross profit38¢Operating expenses25¢Operating profit13¢Income tax3¢Net earnings10¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
General Education$357M55.8%+0.2%-2%
Career Learning$283M44.2%+0.9%+10%
  ↳ Middle - High School$272M42.6%+2%+13%
  ↳ Adult$10.7M1.7%-19%-34%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$639M100.0%
Cost of revenue$398M62.3%
Gross profit$241M37.7%
Operating expenses$157M24.5%
Operating profit$84.3M13.2%
Income tax$17.8M2.8%
Net earnings$64.9M10.2%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$639M+3%
Q4 FY26$636M-3%
Q3 FY26$630M+3%
Q2 FY26$631M+8%
Q1 FY26$621M+13%
Q4 FY25$654M+22%
Q3 FY25$613M+18%

From Stride's 10-Q filed Oct 21, 2026 (on EDGAR).

Questions

How does Stride make money?

Stride (LRN) made $639M of revenue in the first quarter fiscal 2027 (Q1 FY27), +3% from a year earlier. General Education brought in $357M (56%); Career Learning brought in $283M (44%). Of every dollar of revenue, 38¢ was left as gross profit, 13¢ was left as operating profit, 10¢ was left as net earnings.

What is Stride's biggest business?

General Education: $357M in the first quarter fiscal 2027, 56% of revenue, -2% from a year earlier.

What is Stride's profit margin?

Net earnings were $64.9M, 10.2% of revenue, in the first quarter fiscal 2027; the operating margin was 13.2%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.