\n | \n | \n\n Three Months Ended<\/b><\/p>\n<\/td>\n | | \n\n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n December 31,<\/b><\/p>\n<\/td>\n | | \n\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\n (In thousands except share and per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Revenues<\/b><\/td>\n | | \n$<\/td>\n | \n \n458,435\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n409,507\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n883,585\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n809,733\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Instructional costs and services<\/td>\n | | \n | \n\n \n288,347\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n261,950\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n583,848\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n535,774\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Gross margin<\/b><\/td>\n | | \n | \n\n \n170,088\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n147,557\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n299,737\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n273,959\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Selling, general, and administrative expenses<\/td>\n | | \n | \n\n \n102,015\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n90,642\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n260,383\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n224,021\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income from operations<\/b><\/td>\n | | \n | \n\n \n68,073\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n56,915\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n39,354\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n49,938\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Interest expense, net<\/td>\n | | \n | \n\n \n(2,082\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(1,875\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(4,128\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(3,868\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other income, net<\/td>\n | | \n | \n\n \n3,970\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n3,884\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n5,007\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n3,795\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income before income taxes and loss from equity method investments<\/b><\/td>\n | | \n | \n\n \n69,961\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n58,924\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n40,233\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n49,865\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Income tax expense<\/td>\n | | \n | \n\n \n(18,860\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(15,928\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(11,353\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(13,035\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Loss from equity method investments<\/td>\n | | \n | \n\n \n(396\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(992\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(847\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(709\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net income attributable to common stockholders<\/b><\/td>\n | | \n$<\/td>\n | \n \n50,705\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n42,004\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n28,033\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n36,121\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net income attributable to common stockholders per share:<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n$<\/td>\n | \n \n1.20\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n1.01\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n0.66\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n0.88\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n$<\/td>\n | \n \n1.19\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n1.00\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n0.66\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n0.85\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Weighted average shares used in computing per share amounts:<\/b><\/td>\n | | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | <\/tr>\n \n| Basic<\/td>\n | | \n | \n\n \n42,259,061\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n41,525,736\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n42,167,844\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n41,042,401\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Diluted<\/td>\n | | \n | \n\n \n42,547,334\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n41,963,399\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n42,602,405\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n42,413,828\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n\n| \n STRIDE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\n December 31,<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n (audited)<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n (In thousands except share and per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| ASSETS<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Current assets<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Cash and cash equivalents<\/td>\n | | \n$<\/td>\n | \n \n318,279\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n389,398\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accounts receivable, net of allowance of $25,744 and $26,993<\/td>\n | | \n | \n\n \n442,166\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n418,558\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Inventories, net<\/td>\n | | \n | \n\n \n23,960\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n36,003\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Prepaid expenses<\/td>\n | | \n | \n\n \n43,822\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n25,974\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other current assets<\/td>\n | | \n | \n\n \n100,588\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n80,601\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total current assets<\/b><\/td>\n | | \n | \n\n \n928,815\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n950,534\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Operating lease right-of-use assets, net<\/td>\n | | \n | \n\n \n75,823\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n85,457\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Property and equipment, net<\/td>\n | | \n | \n\n \n68,124\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n61,537\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Capitalized software, net<\/td>\n | | \n | \n\n \n76,192\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n71,800\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Capitalized curriculum development costs, net<\/td>\n | | \n | \n\n \n50,557\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n50,580\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Intangible assets, net<\/td>\n | | \n | \n\n \n83,410\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n88,669\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Goodwill<\/td>\n | | \n | \n\n \n246,676\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n241,022\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deposits and other assets<\/td>\n | | \n | \n\n \n89,694\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n93,946\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total assets<\/b><\/td>\n | | \n$<\/td>\n | \n \n1,619,291\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n1,643,545\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| LIABILITIES AND STOCKHOLDERS’ EQUITY<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Current liabilities<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Accounts payable<\/td>\n | | \n$<\/td>\n | \n \n32,809\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n61,997\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued liabilities<\/td>\n | | \n | \n\n \n40,909\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n63,200\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued compensation and benefits<\/td>\n | | \n | \n\n \n34,083\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n73,027\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred revenue<\/td>\n | | \n | \n\n \n83,799\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n53,630\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Current portion of finance lease liability<\/td>\n | | \n | \n\n \n44,377\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n37,389\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Current portion of operating lease liability<\/td>\n | | \n | \n\n \n13,281\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n12,830\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total current liabilities<\/b><\/td>\n | | \n | \n\n \n249,258\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n302,073\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Long-term finance lease liability<\/td>\n | | \n | \n\n \n28,925\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n28,888\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Long-term operating lease liability<\/td>\n | | \n | \n\n \n65,827\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n75,127\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Long-term debt<\/td>\n | | \n | \n\n \n412,260\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n411,438\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred tax liability<\/td>\n | | \n | \n\n \n10,752\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n3,205\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other long-term liabilities<\/td>\n | | \n | \n\n \n10,370\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n10,233\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total liabilities<\/b><\/td>\n | | \n | \n\n \n777,392\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n830,964\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Commitments and contingencies<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Stockholders\u2019 equity<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Preferred stock, par value $0.0001; 10,000,000 shares authorized; zero shares issued or outstanding<\/td>\n | | \n | \n\n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Common stock, par value $0.0001; 100,000,000 shares authorized; 48,431,576 and 48,112,664 shares issued; and 43,096,833 and 42,777,921 shares outstanding, respectively<\/td>\n | | \n | \n\n \n4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n4\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Additional paid-in capital<\/td>\n | | \n | \n\n \n688,695\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n687,454\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accumulated other comprehensive income (loss)<\/td>\n | | \n | \n\n \n187\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n143\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Retained earnings<\/td>\n | | \n | \n\n \n255,495\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n227,462\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Treasury stock of 5,334,743 shares at cost<\/td>\n | | \n | \n\n \n(102,482\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(102,482\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total stockholders\u2019 equity<\/b><\/td>\n | | \n | \n\n \n841,899\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n812,581\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total liabilities and stockholders’ equity<\/b><\/td>\n | | \n$<\/td>\n | \n \n1,619,291\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n1,643,545\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n\n| \n STRIDE, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n | \n\n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n\n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n\n (In thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| Cash flows from operating activities<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Net income<\/td>\n | | \n$<\/td>\n | \n \n28,033\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n36,121\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjustments to reconcile net income to net cash provided by (used in) operating activities:<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Depreciation and amortization expense<\/td>\n | | \n | \n\n \n53,714\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n49,327\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation expense<\/td>\n | | \n | \n\n \n10,451\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n8,888\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred income taxes<\/td>\n | | \n | \n\n \n7,995\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n6,008\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Provision for doubtful accounts<\/td>\n | | \n | \n\n \n2,173\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n4,730\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of fees on debt<\/td>\n | | \n | \n\n \n822\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n809\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Noncash operating lease expense<\/td>\n | | \n | \n\n \n7,369\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n10,074\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other<\/td>\n | | \n | \n\n \n(2,869\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n5,550\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Changes in assets and liabilities:<\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Accounts receivable<\/td>\n | | \n | \n\n \n(25,680\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(65,606\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Inventories, prepaid expenses, deposits and other current and long-term assets<\/td>\n | | \n | \n\n \n(9,177\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n11,944\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accounts payable<\/td>\n | | \n | \n\n \n(26,059\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(26,810\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued liabilities<\/td>\n | | \n | \n\n \n(10,681\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(8,570\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Accrued compensation and benefits<\/td>\n | | \n | \n\n \n(38,806\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(39,157\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Operating lease liability<\/td>\n | | \n | \n\n \n(5,966\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(10,662\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Deferred revenue and other liabilities<\/td>\n | | \n | \n\n \n29,863\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n5,686\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash provided by (used in) operating activities<\/b><\/td>\n | | \n | \n\n \n21,182\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n(11,668\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash flows from investing activities<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Purchase of property and equipment<\/td>\n | | \n | \n\n \n(2,823\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(2,705\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Capitalized software development costs<\/td>\n | | \n | \n\n \n(21,399\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(19,330\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Capitalized curriculum development costs<\/td>\n | | \n | \n\n \n(9,527\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(7,461\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Sale of other investments<\/td>\n | | \n | \n\n \n60\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n5,261\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Acquisition of assets<\/td>\n | | \n | \n\n \n(1,409\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other acquisitions, loans and investments, net of distributions<\/td>\n | | \n | \n\n \n(767\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(3,956\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Proceeds from the maturity of marketable securities<\/td>\n | | \n | \n\n \n36,729\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n7,248\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Purchases of marketable securities<\/td>\n | | \n | \n\n \n(55,879\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(38,720\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash used in investing activities<\/b><\/td>\n | | \n | \n\n \n(55,015\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(59,663\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash flows from financing activities<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Repayments on finance lease obligations<\/td>\n | | \n | \n\n \n(19,938\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(14,744\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Payments of contingent consideration<\/td>\n | | \n | \n\n \n(7,024\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Payments of deferred purchase consideration<\/td>\n | | \n | \n\n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n(7,858\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Proceeds from exercise of stock options<\/td>\n | | \n | \n\n \n10\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n246\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Repurchase of restricted stock for income tax withholding<\/td>\n | | \n | \n\n \n(10,334\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(35,404\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net cash used in financing activities<\/b><\/td>\n | | \n | \n\n \n(37,286\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(57,760\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Net change in cash, cash equivalents and restricted cash<\/b><\/td>\n | | \n | \n\n \n(71,119\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n | | \n | \n\n \n(129,091\n<\/p>\n<\/td>\n | \n \n)\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash, cash equivalents and restricted cash, beginning of period<\/b><\/td>\n | | \n | \n\n \n389,398\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n386,582\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Cash, cash equivalents and restricted cash, end of period<\/b><\/td>\n | | \n$<\/td>\n | \n \n318,279\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n257,491\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| Reconciliation of cash, cash equivalents and restricted cash to balance sheet as of December 31st:<\/b><\/td>\n | | \n | \n | \n | \n | \n | <\/tr>\n \n| Cash and cash equivalents<\/td>\n | | \n$<\/td>\n | \n \n318,279\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n256,986\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Other current assets (restricted cash)<\/td>\n | | \n | \n\n \n\u2014\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n | \n\n \n505\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Total cash, cash equivalents and restricted cash<\/b><\/td>\n | | \n$<\/td>\n | \n \n318,279\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | | \n$<\/td>\n | \n \n257,491\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n Non-GAAP Financial Measures<\/b><\/p>\n \nTo supplement our financial statements presented in accordance with GAAP, we have presented adjusted operating income (loss), EBITDA, and adjusted EBITDA, which are not presented in accordance with GAAP.\n<\/p>\n \n- \nAdjusted operating income (loss) is defined as income (loss) from operations as adjusted for stock-based compensation and the amortization of intangible assets.\n<\/li>\n
- \nEBITDA is defined as income (loss) from operations as adjusted for depreciation and amortization.\n<\/li>\n
- \nAdjusted EBITDA is defined as income (loss) from operations as adjusted for stock-based compensation and depreciation and amortization.\n<\/li>\n
- \nAdjusted EBITDA and adjusted operating income (loss) exclude stock-based compensation, which consists of expenses for stock options, restricted stock, restricted stock units, and performance stock units.\n<\/li>\n<\/ul>\n
\nManagement believes that the presentation of these non-GAAP financial measures provides useful information to investors relating to our financial performance. Adjusted operating income (loss) and Adjusted EBITDA remove stock-based compensation, which is a non-cash charge that varies based on market volatility and the terms and conditions of the awards. EBITDA and Adjusted EBITDA remove depreciation and amortization, which can vary depending upon accounting methods and the book value of assets. EBITDA and Adjusted EBITDA provide a measure of corporate performance exclusive of capital structure and the method by which assets were acquired.\n<\/p>\n \nOur management uses these non-GAAP financial measures:\n<\/p>\n \n- \nas additional measures of operating performance because they assist us in comparing our performance on a consistent basis; and\n<\/li>\n
- \nin presentations to the members of our Board of Directors to enable our Board to review the same measures used by management to compare our current operating results with corresponding prior periods.\n<\/li>\n<\/ul>\n
\nOther companies may define these non-GAAP financial measures differently and, as a result, our use of these non-GAAP financial measures may not be directly comparable to similar non-GAAP financial measures used by other companies. Although we use these non-GAAP financial measures to assess the performance of our business, the use of non-GAAP financial measures is limited as they include and\/or do not include certain items not included and\/or included in the most directly comparable GAAP financial measure.\n<\/p>\n \nThese non-GAAP financial measures should be considered in addition to, and not as a substitute for, revenues, income (loss) from operations, net income (loss) and net income (loss) per share or other related financial information prepared in accordance with GAAP. Adjusted EBITDA is not intended to be a measure of liquidity. You are cautioned not to place undue reliance on these non-GAAP financial measures.\n<\/p>\n \n\nA reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is provided below.\n<\/p>\n \n\n| \n Reconciliation of Income from Operations to Adjusted Operating Income, EBITDA and Adjusted EBITDA<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Second Quarter Fiscal Year 2023<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n Three Months Ended<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n Six Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n December 31,<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2022<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n 2021<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n(In thousands)<\/b><\/td>\n<\/tr>\n\n| Income from operations<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n68,073\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n56,915\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n39,354\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n49,938\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation expense<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4,941\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n602\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n10,451\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n8,888\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of intangible assets<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,279\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3,214\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,568\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n6,427\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted operating income<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n76,293\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n60,731\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n56,373\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n65,253\n<\/p>\n<\/td>\n<\/tr>\n | \n| Depreciation and other amortization<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n24,184\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n21,966\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n47,146\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n42,900\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted EBITDA<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n100,477\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n82,697\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n103,519\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n108,153\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n | \n| EBITDA<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n95,536\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n82,095\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n93,068\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n99,265\n<\/p>\n<\/td>\n<\/tr>\n | \n | \n | \n | \n | \n | \n | \n | \n\u00a0<\/td>\n<\/tr>\n<\/table>\n\n\n| \n Reconciliation of Income from Operations to Adjusted Operating Income (unaudited)<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Fiscal Year 2023 Outlook<\/i><\/b><\/p>\n<\/td>\n<\/tr>\n\n | <\/tr>\n \n | \n\n Three Months Ended<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n Year Ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\n March 31, 2023<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n June 30, 2023<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n\n Low<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n High<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n Low<\/b><\/p>\n<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n High<\/b><\/p>\n<\/td>\n<\/tr>\n\n | \n(In millions)<\/b><\/td>\n<\/tr>\n\n| Income from operations<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n62.5\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n70.5\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n147.5\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n164.5\n<\/p>\n<\/td>\n<\/tr>\n | \n| Stock-based compensation expense<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4.5\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n5.5\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n20.0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n22.0\n<\/p>\n<\/td>\n<\/tr>\n | \n| Amortization of intangible assets<\/td>\n | \n \n\u00a0\n<\/p>\n<\/td>\n | \n \n3.0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n4.0\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n12.5\n<\/p>\n<\/td>\n | | \n\n \n\u00a0\n<\/p>\n<\/td>\n | \n \n13.5\n<\/p>\n<\/td>\n<\/tr>\n | \n| Adjusted operating income<\/td>\n | \n \n$\n<\/p>\n<\/td>\n | \n \n70.0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n80.0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n180.0\n<\/p>\n<\/td>\n | | \n\n \n$\n<\/p>\n<\/td>\n | \n \n200.0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n ![\"\"](\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230124005730r1&sid=flmnd&distro=nx&lang=en\") <\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230124005730\/en\/<\/a><\/span><\/p>\nInvestor Contact
\n<\/b>
Timothy Casey
\n
Vice President, Investor Relations
\n
Stride, Inc.
\n
tcasey@k12.com<\/a><\/p>\n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |