LRN

• Full-year net income was $338.2 million, up 17.5% from $287.9 million; diluted EPS was $7.14, up from $5.95.
• Q4 revenue was $636.1 million, down 2.7% from $653.6 million; Q4 net income was $81.4 million, up 58.6% from $51.3 million.
• Full-year adjusted EBITDA was $617.6 million, up 8.2% from $571.0 million; adjusted EPS was $8.33, up from $8.10.
• Stock repurchase program extended through October 31, 2027, with $311.3 million remaining available.
• Full-year average enrollments were 243.9K, up 4.2% from 234.0K; Career Learning enrollments rose 13.9% to 109.7K.

2.02 Results of Operations and Financial Condition · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• James J. Rhyu ceased serving as CEO and as a member and Chair of the Board on July 29, 2026, with no disagreement with the Company.
• Steven B. Fink was elected Chair of the Board, effective July 29, 2026.
• Brian Shepherd was elected to the Board and appointed to the Audit and Compensation Committees, effective July 29, 2026.
• The Company expects to enter into a separation agreement with Mr. Rhyu providing severance per his Employment Agreement.

2.02 Results of Operations and Financial Condition · 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits

• Net income for the quarter was $88.5 million, down from $99.3 million in the prior year period.
• Diluted earnings per share was $1.93, compared to $2.02 in the prior year period.
• Adjusted EBITDA for the quarter was $171.3 million, up from $168.3 million in the prior year period.
• The company narrowed its full-year fiscal 2026 revenue outlook to a range of $2.490 billion to $2.520 billion.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Net income for Q2 FY2026 was $99.5 million, with diluted EPS of $2.12, versus $96.4 million and $2.03 in the prior year.
• Adjusted EBITDA for Q2 FY2026 was $188.1 million, up from $160.4 million in Q2 FY2025.
• Career Learning revenue grew 24.5% year-over-year to $289.9 million in Q2 FY2026, while General Education revenue declined 3.6% to $341.4 million.
• For full fiscal year 2026, the company forecasts revenue between $2.480 billion and $2.555 billion and adjusted operating income between $485 million and $505 million.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Stockholders also approved the 2025 Employee Stock Purchase Plan, authorizing 4,000,000 shares of common stock for purchase at a discount through payroll deductions.
• All eight director nominees were elected, including Aida M. Alvarez, Steven B. Fink, Robert E. Knowling Jr., Allison Lawrence, Liza McFadden, James J. Rhyu, Ralph Smith, and Joseph A. Verbrugge.
• KPMG LLP was ratified as the independent auditor for fiscal year ending June 30, 2026, with 39,046,477 votes for.
• The advisory vote on named executive officer compensation was approved with 29,512,235 votes for and 6,530,915 against.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 5.07 Submission of Matters to a Vote of Security Holders · 9.01 Financial Statements and Exhibits

• On November 3, 2025, Stride, Inc. announced a stock repurchase program authorizing up to $500 million of its common stock.
• The program does not obligate Stride to acquire any specific amount and may be suspended or discontinued at the company's discretion.
• CEO James Rhyu cited confidence in the company's long-term outlook and strong cash flow as reasons for the authorization.
• The disclosure was made under Items 7.01 and 8.01 of Form 8-K, with the press release furnished as Exhibit 99.1.

7.01 Regulation FD Disclosure · 8.01 Other Events · 9.01 Financial Statements and Exhibits

• Net income was $68.8 million, or $1.40 diluted earnings per share, compared to $40.9 million, or $0.94 per share, in the prior year period.
• Adjusted EBITDA was $108.4 million, up from $83.9 million in the prior year period.
• Total enrollments were 247.7K, up 11.3% year-over-year, with Career Learning enrollments up 20.0% to 110.0K.
• For fiscal year 2026, the company forecasts revenue in the range of $2.480 billion to $2.555 billion and adjusted operating income in the range of $475 million to $500 million.

2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits

• Robert E. Knowling, Jr. was elected to the Board of Directors of Stride, Inc. on September 16, 2025, effective immediately.
• The Board size increased from seven to eight members in connection with his election.
• Mr. Knowling will serve until the next annual meeting of stockholders or until his successor is elected or his earlier resignation, death, or removal.
• He will receive an annual restricted stock award of $250,000, a $70,000 cash retainer, and $10,000 for each committee, prorated for 2025.

5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements