Stride, Inc. Files Q1 2025 10-Q Financial Update
Ticker: LRN · Form: 10-Q · Filed: 2024-10-23T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, balance-sheet
TL;DR
Stride's Q1 10-Q is in: check out their latest balance sheet figures for Sep 30, 2024.
AI Summary
Stride, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial position, including retained earnings, additional paid-in capital, and accumulated other comprehensive income as of September 30, 2024, and comparative periods. It also lists treasury stock and common stock figures for September 30, 2024, and June 30, 2024.
Why It Matters
This filing provides investors with a crucial update on Stride, Inc.'s financial health and capital structure, essential for evaluating the company's performance and future prospects.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing (10-Q) that provides standard financial statement data.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Key date for financial data presented)
- 2024-06-30 — Prior Fiscal Year End (Date for comparative balance sheet figures)
Key Players & Entities
- Stride, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of reporting period
- 2024-06-30 (date) — Prior fiscal year end
- 2023-09-30 (date) — Comparative period end
FAQ
What are the specific values for Retained Earnings as of September 30, 2024?
The filing indicates 'us-gaap:RetainedEarningsMember' for 2024-09-30, but the exact dollar amount is not provided in this header snippet.
How does Additional Paid-In Capital compare between September 30, 2024, and June 30, 2024?
The filing lists 'us-gaap:AdditionalPaidInCapitalMember' for both 2024-09-30 and 2024-06-30, suggesting a comparison is available within the full document.
What is the amount of Treasury Stock as of September 30, 2024?
The filing references 'us-gaap:TreasuryStockCommonMember' for 2024-09-30, indicating this data point is present in the report.
When was Stride, Inc. formerly known as K12 Inc?
The filing states the former company name was K12 INC and the date of the name change was 20010813.
What is Stride, Inc.'s fiscal year end date?
Stride, Inc.'s fiscal year end date is June 30 (0630).
Filing Stats: 4,358 words · 17 min read · ~15 pages · Grade level 15.9 · Accepted 2024-10-22 17:35:36
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value LRN New York Stock Exchan
Filing Documents
- lrn-20240930x10q.htm (10-Q) — 1422KB
- lrn-20240930xex31d1.htm (EX-31.1) — 12KB
- lrn-20240930xex31d2.htm (EX-31.2) — 12KB
- lrn-20240930xex32d1.htm (EX-32.1) — 8KB
- lrn-20240930xex32d2.htm (EX-32.2) — 8KB
- 0001558370-24-013462.txt ( ) — 7957KB
- lrn-20240930.xsd (EX-101.SCH) — 55KB
- lrn-20240930_cal.xml (EX-101.CAL) — 66KB
- lrn-20240930_def.xml (EX-101.DEF) — 263KB
- lrn-20240930_lab.xml (EX-101.LAB) — 515KB
- lrn-20240930_pre.xml (EX-101.PRE) — 392KB
- lrn-20240930x10q_htm.xml (XML) — 1531KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 31 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.
Controls and Procedures
Controls and Procedures 38 PART II. Other Information Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults Upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 39 Item 6. Exhibits 39
Signatures
Signatures 40 2 Table of Contents
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited). STRIDE, INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS September 30, June 30, 2024 2024 (audited) (In thousands except share and per share data) ASSETS Current assets Cash and cash equivalents $ 317,765 $ 500,614 Accounts receivable, net of allowance of $ 38,223 and $ 31,298 675,709 472,754 Inventories, net 22,319 36,748 Prepaid expenses 53,902 29,164 Marketable securities 204,473 191,672 Other current assets 17,158 14,494 Total current assets 1,291,326 1,245,446 Operating lease right-of-use assets, net 51,609 54,503 Property and equipment, net 84,801 50,856 Capitalized software, net 77,181 81,952 Capitalized curriculum development costs, net 52,754 53,232 Intangible assets, net 57,714 60,282 Goodwill 246,676 246,676 Deferred tax asset — 7,200 Deposits and other assets 109,900 120,318 Total assets $ 1,971,961 $ 1,920,465 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 50,057 $ 40,970 Accrued liabilities 56,030 60,796 Accrued compensation and benefits 40,469 64,878 Deferred revenue 32,330 35,742 Current portion of finance lease liability 39,133 29,146 Current portion of operating lease liability 12,636 12,748 Total current liabilities 230,655 244,280 Long-term finance lease liability 50,994 26,452 Long-term operating lease liability 42,326 45,192 Long-term debt 415,098 414,675 Deferred tax liability 2,300 — Other long-term liabilities 16,242 13,841 Total liabilities 757,615 744,440 Commitments and contingencies Stockholders' equity Preferred stock, par value $ 0.0001 ; 10,000,000 shares authorized; zero shares issued or outstanding — — Common stock, par value $ 0.0001 ; 100,000,000 shares authorized; 48,921,937 and 48,576,164 shares issued; and 43,587,194 and 43,241,421 shares outstanding, respect