Stride, Inc. reported revenue of $631.3 million for the quarter ended December 31, 2025, up 7.5% from $587.2 million in the same period a year ago. Income from operations rose 17.4% to $146.9 million, compared with $125.1 million in Q2 2025. Net income increased to $99.5 million from $96.4 million, while diluted net income per share improved to $2.12, up $0.09 year-over-year. On a non-GAAP basis, adjusted operating income reached $159.0 million, an increase of 17.3%, and adjusted EBITDA climbed 17.2% to $188.1 million. Adjusted earnings per share were $2.50, an increase of $0.13 over the prior year’s quarter.

Total Q2 enrollments rose 7.8% to 248,500 students, compared with 230,600 in the prior-year quarter. Career Learning enrollments surged 17.6% to 111,500, driving a 10.0% increase in Career Learning revenue per enrollment to $2,473. General Education enrollments contributed $341.4 million in revenue but saw a 3.6% decline in revenue per enrollment to $2,407. Overall revenue per enrollment grew 1.8% to $2,437, reflecting strong demand for Stride’s online career and middle-high school programs.

For full fiscal 2026, Stride forecasts revenue between $2.480 billion and $2.555 billion and capital expenditures of $70 million to $80 million. The company expects an effective tax rate of 24% to 25% and adjusted operating income in the range of $485 million to $505 million. For Q3, management targets revenue of $615 million to $645 million, capital spending of $16 million to $21 million, and adjusted operating income between $130 million and $140 million. As of December 31, 2025, cash and equivalents plus marketable securities totaled $676.0 million, compared with $1,011.4 million at June 30, 2025.