LRN on NYSE

Stride, Inc.

For-profit education company

Stride, Inc. (formerly K12 Inc.) is a for-profit education company that provides online and blended education programs.3 From Wikipedia, CC BY-SA 4.0

Price unavailable

Last updated Oct 19, 2026.

Overview

$2.5BRevenue, fiscal 20265
$338.2MNet income, fiscal 20265
2000Founded1

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  • TickerLRN on NYSE1
  • Industryeducation industry, educational technology1
  • HeadquartersHerndon1
  • Websitewww.k12.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address11720 Plaza America Drive, 9Th Floor, Reston, Va 201906
  • Filer categoryLarge accelerated filer6
  • LEI254900BRWS3AFONWU2774
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 31501674

Stride, Inc. (formerly K12 Inc.) is a for-profit education company that provides online and blended education programs. Stride, Inc. is an education management organization (EMO) that provides online education designed as an alternative to traditional "brick and mortar" education for public school students from kindergarten to 12th grade (hence its former name), as well as career learning programs. As of 2012, publicly traded Stride, Inc. was the largest EMO in terms of enrollment.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

37.8%Gross margin5
17.9%Operating margin5
13.4%Net margin5
4.7%Revenue growth, 20265
20.7%Return on equity5
0.26×Debt to equity5
$433.2MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

General Education brought in 44% of the revenue Stride, Inc. broke down this way in fiscal 2026.

  1. General Education$1.4B544%down 2% from 2025
  2. Middle - High School$1.0B533%up 19% from 2025
  3. Primary Obligor$683.6M521%up 3% from 2025
  4. Adult$56.6M52%down 30% from 2025
Products and services by year
Products and services202420252026
General Education$1.3B$1.4B$1.4B
Middle - High School$651.2M$876.3M$1.0B
Primary Obligor$576.4M$662.6M$683.6M
Adult$99.7M$80.4M$56.6M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue62¢$1.6B
  • Research and development1¢$22.0M
  • Selling, general and admin20¢$499.8M
  • Income tax4¢$102.8M
  • Profit13¢$338.2M

Out of $2.5B in revenue.5

Where each dollar of operating cash went, fiscal 2026

  • Capital spending0¢$587.0K
  • Share buybacks43¢$188.7M
  • Kept or used elsewhere56¢$244.6M

Out of $433.8M of cash from operations.5

Financial statements

Revenue891011125$2.5B in 2026+148% since 2019
0$1.0B$2.0B$3.0B2019: $1.0B$1.0B20192020: $1.0B$1.0B2020+2%2021: $1.5B$1.5B2021+48%2022: $1.7B$1.7B2022+10%2023: $1.8B$1.8B2023+9%2024: $2.0B$2.0B2024+11%2025: $2.4B$2.4B2025+18%2026: $2.5B$2.5B2026+5%
Gross profit891011125$950.6M in 2026+170% since 2019
0$250.0M$500.0M$750.0M$1.0B2019: $352.3M$352.3M20192020: $347.5M$347.5M2020−1%2021: $534.9M$534.9M2021+54%2022: $596.5M$596.5M2022+12%2023: $647.1M$647.1M2023+8%2024: $763.6M$763.6M2024+18%2025: $943.9M$943.9M2025+24%2026: $950.6M$950.6M2026+1%
Operating income891011125$450.8M in 2026+891% since 2019
0$200.0M$400.0M$600.0M2019: $45.5M$45.5M20192020: $32.5M$32.5M2020−29%2021: $110.5M$110.5M2021+240%2022: $156.6M$156.6M2022+42%2023: $165.5M$165.5M2023+6%2024: $249.6M$249.6M2024+51%2025: $360.1M$360.1M2025+44%2026: $450.8M$450.8M2026+25%
Net income891011125$338.2M in 2026+809% since 2019
0$100.0M$200.0M$300.0M$400.0M2019: $37.2M$37.2M20192020: $24.5M$24.5M2020−34%2021: $71.5M$71.5M2021+192%2022: $107.1M$107.1M2022+50%2023: $126.9M$126.9M2023+18%2024: $204.2M$204.2M2024+61%2025: $287.9M$287.9M2025+41%2026: $338.2M$338.2M2026+17%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2026-06-302025-06-302024-06-30
Revenues$2.5B$2.4B$2.0B
Instructional costs and services$1.6B$1.5B$1.3B
Gross margin$950.6M$943.9M$763.6M
Selling, general, and administrative expenses$499.8M$524.3M$514.0M
Impairment of long-lived assets$59.5M
Income from operations$450.8M$360.1M$249.6M
Interest expense, net-$11.8M-$10.5M-$8.8M
Other income, net$2.2M$33.6M$26.9M
Income before income taxes and income (loss) from equity method investments$441.2M$383.2M$267.7M
Income tax expense-$102.8M-$93.0M-$64.5M
Income (loss) from equity method investments-$205.0K-$2.3M$977.0K
Net income attributable to common stockholders$338.2M$287.9M$204.2M
Basic (in dollars per share)$7.92$6.69$4.79
Diluted (in dollars per share)$7.14$5.95$4.69
Basic (in shares)42.7M shares43.0M shares42.6M shares
Diluted (in shares)47.3M shares48.4M shares43.5M shares

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The story

Finance

Ronald J. Packard, a former banker, founded the company in April 2000. Initial investors in the company included Michael R. Milken and Lowell Milken of education company Knowledge Universe, who, along with the Milken Family Foundation, invested $10 million. Andrew Tisch of the Loews Corporation and Larry Ellison of Oracle Corporation also contributed venture capital. It became a publicly traded company on December 13, 2007.

Leadership

William Bennett, Secretary of Education under Ronald Reagan was hired as the company's first chairman of the board, serving until 2005. In 2005, the Philadelphia Board of Education called for the termination of a $3M science curriculum contract with K12 after Bennett said, "if you wanted to reduce crime...you could abort every black baby in the country and your crime rate would go down. That would be an impossible, ridiculous, and morally reprehensible thing to do, but your crime rate would go down." Bennett subsequently resigned from the K12 board and his part-time position with K12. The contract was not revoked, but was not renewed at the end of the contract term. Founder Packard resigned in 2014 to start Pansophic Learning.

From Wikipedia’s article on Stride, Inc., shared under CC BY-SA 4.0.7

Leadership

Who has led Stride, Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (40)

Products and brands

Offerings

Education management

Stride, Inc. is a for-profit education management organization (EMO). In this sector, Stride does not operate physical schools, but provides online curriculum to homeschooled children and other schools. Stride was the largest EMO in the US in 2011–2012. Stride's for-profit rival EdisonLearning has also moved away from physical schoolhouses to virtual offerings.

Stride offers its online curriculum at three levels:

To states and districts as a homeschooling alternative to brick-and-mortar schools

To school districts as a supplement to classroom teaching

Read the full text

To parents individually as a private, online, homeschooling alternative

In 2015, 526 virtual schools in the United States enrolled 278,511 students. During the pandemic, enrollment in virtual schools nearly doubled. In the 2019–2020 school year, there were 477 virtual schools with 332,379 students in the U.S. In the 2021–2022 school year, there were 726 virtual schools in the U.S. enrolling 643,930 students.

Charter management

Stride competes with non-profit educational organizations known as charter management organizations (CMOs) that typically run brick-and-mortar schools. Other large non-profits are Imagine Schools (55 schools), KIPP (209 schools), and Cosmos. Multi-state EMOs and CMOs control about a third of the charter school market. K12 provides to online non-profit CMOs including Agora and Insight in Pennsylvania. The company manages state-funded virtual charter schools and hybrid schools in twenty-nine U.S. states and the District of Columbia. In 2015, Stride was CMO (and charter holder) for schools enrolling 44,559 students.

Branding

Stride, Inc. offers itself through a variety of brands.

State and district sponsored homeschooling

Stride develops identities for specific opportunities. In Union County, Tennessee, it has operated Tennessee Virtual Academy since 2011. In Pennsylvania, it operates Insight Pennsylvania Cyber Charter School.

Stride previously operated Hoosier Academy Virtual Charter School, an online K–12 charter school in Indiana started in 2009 that enrolled 3,681 students in the 2015–2016 school year. The school suffered from six successive years of "F" ratings, which nearly resulted in its closure in 2016. Later, the school was closed on June 30, 2018, after the school board voted not to renew the charter.

Private online K–12 schools

Stride, Inc. operates three online private schools: K12 Private Academy, George Washington University Online High School, and the Keystone School. In 2011, The George Washington University partnered with Stride to offer a full-time online private school accredited by the Middle States Association of Colleges and Schools commissions on Elementary and Secondary Schools.

Career learning

Stride, Inc. offers career and technical education programs at public schools, called Destinations Career Academies and Programs to students in grades 9–12.

In 2020, Stride expanded into the adult learning space with the acquisition of data science and software engineering bootcamp Galvanize. With the companies rebrand in November 2020, it was announced that they would acquire Tech Elevator, a computer coding bootcamp, and MedCerts, an online healthcare career training program.

Learning Solutions

In April 2014, Stride, Inc. established wholly owned subsidiary, Fuel Education. Fuel Education operated as a separate legal entity from Stride, Inc., and houses different personalized learning programs. The subsidiary has since rebranded as Learning Solutions.

From Wikipedia’s article on Stride, Inc., shared under CC BY-SA 4.0.7

Former names

  • K12 INCJul 2, 2002 to Dec 15, 20206

Timeline

  1. Aug 11, 2026New chief executive Robert E. Knowling Jr. becomes CEO16
  2. Jan 26, 2021New chief executive James J. Rhyu becomes CEO1
  3. Feb 10, 2016New chief executive Stuart Udell becomes CEO18
  4. Dec 12, 2007New chief executive Ronald J. Packard becomes CEO19
  5. 2000Founded Founded1

Filings

344 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 43 major events, 222 insider forms, 23 large holders, 36 other. The latest 20:

  1. Oct 9, 20268-K EDGAR
  2. Oct 8, 2026SCHEDULE 13G EDGAR
  3. Sep 22, 20264/A EDGAR
  4. Sep 18, 20264 EDGAR
  5. Sep 18, 20264 EDGAR
  6. Sep 16, 20264 EDGAR
  7. Sep 8, 20264 EDGAR
  8. Aug 27, 20264/A EDGAR
  9. Aug 27, 20264/A EDGAR
  10. Aug 27, 20264/A EDGAR
  11. Aug 20, 20264 EDGAR
  12. Aug 20, 20264 EDGAR
  13. Aug 18, 2026144 EDGAR
  14. Aug 11, 20264 EDGAR
  15. Aug 11, 20264 EDGAR
  16. Aug 11, 20264 EDGAR
  17. Aug 11, 20264 EDGAR
  18. Aug 5, 202610-K EDGAR
  19. Aug 4, 20268-K EDGAR
  20. Jul 31, 20264 EDGAR

The 344 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

15 open-market trades by officers, directors and large owners since October 2021: 0 buys and 15 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 19, 2025Rhyu James JeahoCHIEF EXECUTIVE OFFICERSale13,961$162.66$2.3MForm 4
Nov 7, 2024Rhyu James JeahoCHIEF EXECUTIVE OFFICERSale5,683$98.72$561.0KForm 4
Nov 6, 2024Rhyu James JeahoCHIEF EXECUTIVE OFFICERSale23,187$97.29$2.3MForm 4
Oct 25, 2024Goldthwaite ToddMANAGING DIRECTORSale8,028$91.54$734.9KForm 4
Dec 11, 2023COHEN ROBERTDirectorSale4,362$60.56$264.2KForm 4
Nov 21, 2023McFadden ElizaDirectorSale11,977$57.70$691.1KForm 4
Nov 7, 2023Ottolenghi LesCHIEF COMMERCIAL OFFICERSale6,150$56.42$347.0KForm 4
Oct 27, 2023Mathis VincentEVP, GENERAL COUNSELSale10,587$53.81$569.7KForm 4
Oct 25, 2023Rhyu James JeahoCHIEF EXECUTIVE OFFICERSale25,000$50.56$1.3MForm 4
Jan 26, 2023Rhyu James JeahoCHIEF EXECUTIVE OFFICERSale35,531$40.49$1.4MForm 4
Jan 25, 2023Mathis VincentEVP, GENERAL COUNSELSale8,160$40.65$331.7KForm 4
May 25, 2022Rhyu James JeahoCHIEF EXECUTIVE OFFICERSale43,423$38.81$1.7MForm 4
May 23, 2022Mathis VincentEVP, GENERAL COUNSELSale53,506$36.78$2.0MForm 4
Apr 29, 2022DAVIS NATHANIEL AEXECUTIVE CHAIRMANSale57,017$39.06$2.2MForm 4
Apr 28, 2022DAVIS NATHANIEL AEXECUTIVE CHAIRMANSale47,983$39.00$1.9MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,439,716$555.4M0.0%+41,714
Vanguard Portfolio Management LLC2,373,668$204.7M0.0%+67,516
Jupiter Topco LLC2,315,672$199.7M0.1%New
Dimensional Fund Advisors LP1,915,428$165.2M0.0%+164,782
Vanguard Capital Management LLC1,839,059$158.6M0.0%+9,162
State Street Corp1,661,526$143.3M0.0%+51,360
Impactive Capital LP1,303,636$112.4M8.0%+190,269
Morgan Stanley1,296,291$111.8M0.0%+183,171
Frontier Capital Management Co LLC1,191,710$102.8M1.0%−357,581
Principal Financial Group Inc1,113,535$96.0M0.0%+79,488
Geode Capital Management, LLC1,104,032$95.2M0.0%+62,646
Swedbank AB972,874$83.9M0.1%No change
Voss Capital, LP885,605$76.4M3.8%+35,605
William Blair Investment Management, LLC823,698$71.0M0.2%New
Invesco Ltd.779,769$67.2M0.0%+87,512
Khrom Capital Management LLC750,166$64.7M5.4%No change
Fuller & Thaler Asset Management, Inc.745,346$64.3M0.2%+29,006
Deutsche Bank Ag\737,755$63.6M0.0%−27,251
Charles Schwab Investment Management Inc673,595$58.1M0.0%+27,733
American Century Companies Inc633,691$54.6M0.0%+611,877
Bank Of America Corp /de/572,235$49.3M0.0%−21,933
Norges Bank571,610$49.3M0.0%New
Fivespan Partners, LP553,151$47.7M11.2%New
UBS Group AG530,833$45.8M0.0%−65,354
Victory Capital Management Inc505,524$43.6M0.0%−150,695

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

12 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Feb 4, 2026Markwayne Mullin, SenateBuy$15,001 - $50,000−16.3%Report
Jan 5, 2026Markwayne Mullin, SenateBuy$15,001 - $50,000+10.8%Report
Jan 5, 2026Markwayne Mullin, SenateBuy$15,001 - $50,000+10.8%Report
Dec 18, 2025Markwayne Mullin, SenateSale$1,001 - $15,000−12.4%Report
Dec 18, 2025Markwayne Mullin, SenateSale$1,001 - $15,000−12.4%Report
Feb 3, 2025Markwayne Mullin, SenateBuy$1,001 - $15,000−68.7%Report
Jan 2, 2025Markwayne Mullin, SenateBuy$15,001 - $50,000−53.8%Report
Jan 2, 2025Markwayne Mullin, SenateBuy$15,001 - $50,000−53.8%Report
Dec 18, 2024Markwayne Mullin, SenateSale$15,001 - $50,000+52.6%Report
Dec 18, 2024Markwayne Mullin, SenateSale$1,001 - $15,000+52.6%Report
Jul 30, 2024Markwayne Mullin, SenateBuy$1,001 - $15,000−33.0%Report
Jul 30, 2024Markwayne Mullin, SenateBuy$1,001 - $15,000−33.0%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

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