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Stride Inc. (LRN+0.23%) has filed its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports revenues of $587.2 million for the three months ended December 31, 2024, an increase from $504.9 million in the same period of the previous year. The increase is attributed to higher enrollments and favorable school mix.
Instructional costs and services expenses were $347.4 million, representing 59.2% of revenues, a decrease from 60.2% in the prior year. This reduction is due to economies of scale as enrollments increased.
Selling, general, and administrative expenses decreased slightly to $114.8 million, accounting for 19.5% of revenues, down from 23.2% in the prior year, reflecting improved operational efficiencies.
Net income attributable to common stockholders was $96.4 million, up from $66.8 million in the prior year, driven by increased revenues and improved cost management.
Stride's balance sheet shows total assets of $2,070.8 million as of December 31, 2024, with cash and cash equivalents of $515.1 million.
The company operates in the General Education and Career Learning markets, with significant growth reported in Career Learning enrollments, up 30.9% year-over-year.
Stride's financial position remains strong, with no outstanding balance on its $100 million credit facility as of December 31, 2024.
The company continues to focus on expanding its educational platform and enhancing its curriculum offerings to meet the needs of a diverse student population.
Stride's management highlights its commitment to environmental, social, and governance (ESG) initiatives, including diversity and inclusion efforts and promoting educational equity.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Stride Inc. quarterly 10-Q report dated January 29, 2025. To report an error, please email earnings@qz.com.