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Dec 31, 2022
Stride Q2 2023 Earnings Report
Achieved record enrollment growth and increased revenue driven by enrollment strength, increases in revenue per enrollment, and Adult Learning growth.
Key Takeaways
Stride, Inc. reported strong second quarter fiscal year 2023 results, with revenue increasing to $458.4 million compared to $409.5 million in the prior year. Net income also increased to $50.7 million, or $1.19 per share, compared to $42.0 million, or $1.00 per share in the prior year.
Revenue increased to $458.4 million, compared with $409.5 million.
Income from operations was $68.1 million, compared with $56.9 million.
Net income reached $50.7 million, compared with $42.0 million.
Diluted net income per share was $1.19, compared with $1.00.
Revenue by Segment
Forward Guidance
The Company is raising its revenue and adjusted operating forecast and narrowing its capital expenditures forecast for the full year fiscal 2023.
Positive Outlook
- Revenue in the range of $1.775 billion to $1.815 billion.
- Capital expenditures in the range of $70.0 million to $75.0 million.
- Note that capital expenditures include the purchase of property and equipment, and capitalized software, and curriculum development costs as defined on our Statement of Cash Flows.
- Effective tax rate of 27% to 29%.
- Adjusted operating income in the range of $180.0 million to $200.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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