Stride Inc. · Q1 2022 earnings

Briefing

Stride's first quarter of fiscal year 2022 financial results were announced, showing revenue growth driven by career learning demand but a decrease in profitability due to seasonal expenses.

Stride, Inc. reported a revenue increase of 7.9% to $400.2 million compared to $371.0 million in the same quarter last year, driven by improved revenue per enrollment, strong Career Learning enrollments, and growth in Adult Learning. However, the company experienced a net loss of $5.9 million, a decrease compared to the net income of $12.7 million in the previous year, and a loss from operations of $7.0 million compared to an income from operations of $12.1 million due to increased seasonal expenses.

• Revenue increased to $400.2 million, up 7.9% year-over-year, driven by improved revenue per enrollment and growth in Career Learning and Adult Learning segments.
• Loss from operations was $7.0 million, compared to an income from operations of $12.1 million in the prior year, due to normal seasonality in upfront school year expenses.
• Net loss was $5.9 million, a decrease compared to a net income of $12.7 million in the same quarter last year.
• Diluted net loss per share was $0.15, compared to diluted net income per share of $0.30 in the prior year.

Headline financials

Revenue & EPS history

The Company is forecasting revenue in the range of $390 million to $400 million and adjusted operating income in the range of $55 million to $60 million for the second quarter fiscal 2022.