$LRN
Stride, Inc.

2020 Q4 Form 10-Q Financial Statement

#000155837021000397 Filed on January 27, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4
Revenue $376.1M $257.6M
YoY Change 46.04% 1.05%
Cost Of Revenue $246.8M $167.5M
YoY Change 47.34% 4.45%
Gross Profit $129.4M $90.09M
YoY Change 43.63% -4.71%
Gross Profit Margin 34.4% 34.98%
Selling, General & Admin $90.94M $59.78M
YoY Change 52.11% -2.4%
% of Gross Profit 70.28% 66.36%
Research & Development $155.2M
YoY Change 14009.09%
% of Gross Profit 172.27%
Depreciation & Amortization $23.10M $5.400M
YoY Change 327.78% 14.89%
% of Gross Profit 17.85% 5.99%
Operating Expenses $90.94M $59.78M
YoY Change 52.11% -2.4%
Operating Profit $38.45M $30.31M
YoY Change 26.88% -8.97%
Interest Expense -$5.024M $441.0K
YoY Change -1239.23% -7.55%
% of Operating Profit -13.07% 1.46%
Other Income/Expense, Net $1.361M $365.0K
YoY Change 272.88% -146.26%
Pretax Income $34.79M $31.11M
YoY Change 11.82% -5.66%
Income Tax $10.64M $10.39M
% Of Pretax Income 30.59% 33.4%
Net Earnings $24.50M $20.59M
YoY Change 18.97% -13.15%
Net Earnings / Revenue 6.51% 8.0%
Basic Earnings Per Share $0.61 $0.52
Diluted Earnings Per Share $0.60 $0.52
COMMON SHARES
Basic Shares Outstanding 40.16M 39.45M
Diluted Shares Outstanding 41.10M 39.97M

Balance Sheet

Concept 2020 Q4 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $258.1M $211.6M
YoY Change 21.98% 4.08%
Cash & Equivalents $258.1M $211.6M
Short-Term Investments $1.500M $1.200M
Other Short-Term Assets $24.97M $13.69M
YoY Change 82.43% -59.14%
Inventory $28.62M $20.07M
Prepaid Expenses $21.53M $16.67M
Receivables $435.3M $251.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $768.5M $513.7M
YoY Change 49.6% 4.07%
LONG-TERM ASSETS
Property, Plant & Equipment $182.5M $35.20M
YoY Change 418.47% 8.31%
Goodwill $240.8M $90.20M
YoY Change 166.96%
Intangibles $106.5M $13.50M
YoY Change 689.53%
Long-Term Investments $3.600M $20.70M
YoY Change -82.61% 3.5%
Other Assets $75.18M $72.77M
YoY Change 3.3% 58.54%
Total Long-Term Assets $703.5M $313.3M
YoY Change 124.57% 7.98%
TOTAL ASSETS
Total Short-Term Assets $768.5M $513.7M
Total Long-Term Assets $703.5M $313.3M
Total Assets $1.472B $827.0M
YoY Change 78.0% 5.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.25M $30.60M
YoY Change 28.28% 49.26%
Accrued Expenses $41.51M $19.62M
YoY Change 111.63% -54.06%
Deferred Revenue $62.64M $23.57M
YoY Change 165.75%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $21.50M $23.30M
YoY Change -7.73% -11.07%
Total Short-Term Liabilities $228.6M $133.7M
YoY Change 71.03% -5.13%
LONG-TERM LIABILITIES
Long-Term Debt $291.6M $2.100M
YoY Change 13786.86% -75.58%
Other Long-Term Liabilities $39.87M $8.343M
YoY Change 377.91% -31.61%
Total Long-Term Liabilities $331.5M $8.343M
YoY Change 3873.34% -59.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $228.6M $133.7M
Total Long-Term Liabilities $331.5M $8.343M
Total Liabilities $719.5M $175.9M
YoY Change 309.16% -2.14%
SHAREHOLDERS EQUITY
Retained Earnings $77.87M $33.31M
YoY Change 133.76%
Common Stock $777.4M $720.5M
YoY Change 7.91%
Preferred Stock
YoY Change
Treasury Stock (at cost) $102.5M $102.5M
YoY Change 0.0%
Treasury Stock Shares $5.335M $5.335M
Shareholders Equity $752.4M $651.1M
YoY Change
Total Liabilities & Shareholders Equity $1.472B $827.0M
YoY Change 78.0% 5.52%

Cashflow Statement

Concept 2020 Q4 2019 Q4
OPERATING ACTIVITIES
Net Income $24.50M $20.59M
YoY Change 18.97% -13.15%
Depreciation, Depletion And Amortization $23.10M $5.400M
YoY Change 327.78% 14.89%
Cash From Operating Activities $34.50M $65.50M
YoY Change -47.33% -11.49%
INVESTING ACTIVITIES
Capital Expenditures -$10.80M -$9.300M
YoY Change 16.13% -3.13%
Acquisitions
YoY Change
Other Investing Activities -$67.80M -$2.800M
YoY Change 2321.43%
Cash From Investing Activities -$78.60M -$12.20M
YoY Change 544.26% 28.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.600M -7.700M
YoY Change -14.29% 83.33%
NET CHANGE
Cash From Operating Activities 34.50M 65.50M
Cash From Investing Activities -78.60M -12.20M
Cash From Financing Activities -6.600M -7.700M
Net Change In Cash -50.70M 45.60M
YoY Change -211.18% -24.38%
FREE CASH FLOW
Cash From Operating Activities $34.50M $65.50M
Capital Expenditures -$10.80M -$9.300M
Free Cash Flow $45.30M $74.80M
YoY Change -39.44% -10.53%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
EntityCentralIndexKey
0001157408
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q2 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
us-gaap Revenue Practical Expedient Remaining Performance Obligation
RevenuePracticalExpedientRemainingPerformanceObligation
true
dei Amendment Flag
AmendmentFlag
false
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2020-12-31
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-33883
dei Entity Registrant Name
EntityRegistrantName
Stride, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
95-4774688
dei Entity Address Address Line1
EntityAddressAddressLine1
2300 Corporate Park Drive
dei Entity Address City Or Town
EntityAddressCityOrTown
Herndon
dei Entity Address State Or Province
EntityAddressStateOrProvince
VA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
20171
dei City Area Code
CityAreaCode
703
dei Local Phone Number
LocalPhoneNumber
483-7000
dei Security12b Title
Security12bTitle
Common Stock, $0.0001 par value
dei Trading Symbol
TradingSymbol
LRN
dei Security Exchange Name
SecurityExchangeName
NYSE
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2021Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
41602453
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
258107000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
212299000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
20924000
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
6808000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
435254000
CY2020Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
236134000
CY2020Q4 us-gaap Inventory Net
InventoryNet
28618000
CY2020Q2 us-gaap Inventory Net
InventoryNet
28300000
CY2020Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
21525000
CY2020Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
13058000
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
24973000
CY2020Q2 us-gaap Other Assets Current
OtherAssetsCurrent
11480000
CY2020Q4 us-gaap Assets Current
AssetsCurrent
768477000
CY2020Q2 us-gaap Assets Current
AssetsCurrent
501271000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
104010000
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
111768000
CY2020Q4 lrn Property Plant And Equipment Excluding Software Development Costs Net
PropertyPlantAndEquipmentExcludingSoftwareDevelopmentCostsNet
78503000
CY2020Q2 lrn Property Plant And Equipment Excluding Software Development Costs Net
PropertyPlantAndEquipmentExcludingSoftwareDevelopmentCostsNet
38668000
CY2020Q4 lrn Capitalized Software Development Costs For Software Applications Used Internally Net
CapitalizedSoftwareDevelopmentCostsForSoftwareApplicationsUsedInternallyNet
50296000
CY2020Q2 lrn Capitalized Software Development Costs For Software Applications Used Internally Net
CapitalizedSoftwareDevelopmentCostsForSoftwareApplicationsUsedInternallyNet
48493000
CY2020Q4 lrn Capitalized Software Development Costs For Software Application Used Internally Curriculum Content Net
CapitalizedSoftwareDevelopmentCostsForSoftwareApplicationUsedInternallyCurriculumContentNet
48147000
CY2020Q2 lrn Capitalized Software Development Costs For Software Application Used Internally Curriculum Content Net
CapitalizedSoftwareDevelopmentCostsForSoftwareApplicationUsedInternallyCurriculumContentNet
48849000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
106547000
CY2020Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
77451000
CY2020Q4 us-gaap Goodwill
Goodwill
240799000
CY2020Q2 us-gaap Goodwill
Goodwill
174939000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
75175000
CY2020Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
71824000
CY2020Q4 us-gaap Assets
Assets
1471954000
CY2020Q2 us-gaap Assets
Assets
1073263000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
39251000
CY2020Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
40428000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
41514000
CY2020Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
27351000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
42501000
CY2020Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
47227000
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
62635000
CY2020Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
24417000
CY2020Q2 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
100000000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
21506000
CY2020Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
13304000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
21204000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
20689000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
228611000
CY2020Q2 us-gaap Liabilities Current
LiabilitiesCurrent
273416000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
37796000
CY2020Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
4634000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
86977000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
96544000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
291624000
CY2020Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
34645000
CY2020Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
13771000
CY2020Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
39872000
CY2020Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
9569000
CY2020Q4 us-gaap Liabilities
Liabilities
719525000
CY2020Q2 us-gaap Liabilities
Liabilities
397934000
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2020Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46893934
CY2020Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46341627
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41559191
CY2020Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41006884
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
4000
CY2020Q2 us-gaap Common Stock Value
CommonStockValue
4000
CY2020Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
777409000
CY2020Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
730761000
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-369000
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
93000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
77867000
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
46953000
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5334743
CY2020Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
5334743
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
102482000
CY2020Q2 us-gaap Treasury Stock Value
TreasuryStockValue
102482000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
752429000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
675329000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1471954000
CY2020Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1073263000
CY2020Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
376145000
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
257559000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
747105000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
514680000
CY2020Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
246754000
CY2019Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
167470000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
487823000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
336828000
CY2020Q4 us-gaap Gross Profit
GrossProfit
129391000
CY2019Q4 us-gaap Gross Profit
GrossProfit
90089000
us-gaap Gross Profit
GrossProfit
259282000
us-gaap Gross Profit
GrossProfit
177852000
CY2020Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
90939000
CY2019Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
59784000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
208766000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
166935000
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
38452000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
30305000
us-gaap Operating Income Loss
OperatingIncomeLoss
50516000
us-gaap Operating Income Loss
OperatingIncomeLoss
10917000
CY2020Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-5024000
CY2019Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
441000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-7131000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
1351000
CY2020Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1361000
CY2019Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
365000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1790000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
357000
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
34789000
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
31111000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
45175000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
12625000
CY2020Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10642000
CY2019Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10392000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8266000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1574000
CY2020Q4 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
354000
CY2019Q4 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-125000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
258000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-187000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
24501000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
20594000
us-gaap Net Income Loss
NetIncomeLoss
37167000
us-gaap Net Income Loss
NetIncomeLoss
10864000
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.61
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40160362
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39450017
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40072360
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39369287
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41102425
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39973933
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41681061
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40692822
CY2020Q4 us-gaap Profit Loss
ProfitLoss
24501000
CY2019Q4 us-gaap Profit Loss
ProfitLoss
20594000
us-gaap Profit Loss
ProfitLoss
37167000
us-gaap Profit Loss
ProfitLoss
10864000
CY2020Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-270000
CY2019Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-287000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-462000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-148000
CY2020Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
24231000
CY2019Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
20307000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
36705000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
10716000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
675329000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
12666000
CY2020Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-192000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9009000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
32000
CY2020Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
10885000
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
105477000
CY2020Q3 lrn Purchases Of Capped Calls In Connection With Convertible Senior Notes
PurchasesOfCappedCallsInConnectionWithConvertibleSeniorNotes
60354000
CY2020Q3 lrn Repurchase Of Restricted Stock For Income Tax Withholding
RepurchaseOfRestrictedStockForIncomeTaxWithholding
5808000
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
719021000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
24501000
CY2020Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-270000
CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9181000
CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
271000
CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
25000
CY2020Q4 lrn Repurchase Of Restricted Stock For Income Tax Withholding
RepurchaseOfRestrictedStockForIncomeTaxWithholding
300000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
752429000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
633365000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
-9730000
CY2019Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
139000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5594000
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
42000
CY2019Q3 lrn Repurchase Of Restricted Stock For Income Tax Withholding
RepurchaseOfRestrictedStockForIncomeTaxWithholding
4698000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
624712000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
20594000
CY2019Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-287000
CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6256000
CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
6000
CY2019Q4 lrn Repurchase Of Restricted Stock For Income Tax Withholding
RepurchaseOfRestrictedStockForIncomeTaxWithholding
185000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
651096000
us-gaap Profit Loss
ProfitLoss
37167000
us-gaap Profit Loss
ProfitLoss
10864000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
41438000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
34376000
us-gaap Share Based Compensation
ShareBasedCompensation
17967000
us-gaap Share Based Compensation
ShareBasedCompensation
11699000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5375000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
346000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6382000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-344000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4973000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
16871000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
7116000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
208870000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
59650000
lrn Increase Decrease In Inventories Prepaid Expenses And Other Assets
IncreaseDecreaseInInventoriesPrepaidExpensesAndOtherAssets
23231000
lrn Increase Decrease In Inventories Prepaid Expenses And Other Assets
IncreaseDecreaseInInventoriesPrepaidExpensesAndOtherAssets
-2556000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-7202000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-14141000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4346000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
690000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-5401000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-13943000
lrn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-10364000
lrn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-4089000
lrn Increase Decrease In Contract With Customer Liability And Other Liabilities
IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiabilities
40592000
lrn Increase Decrease In Contract With Customer Liability And Other Liabilities
IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiabilities
3255000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-79957000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-21265000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1969000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1338000
us-gaap Payments For Software
PaymentsForSoftware
14061000
us-gaap Payments For Software
PaymentsForSoftware
12978000
lrn Payments To Capitalized Curriculum Development Costs
PaymentsToCapitalizedCurriculumDevelopmentCosts
7524000
lrn Payments To Capitalized Curriculum Development Costs
PaymentsToCapitalizedCurriculumDevelopmentCosts
11991000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
223000
us-gaap Payments To Acquire Business Two Net Of Cash Acquired
PaymentsToAcquireBusinessTwoNetOfCashAcquired
54775000
us-gaap Payments To Acquire Business Three Net Of Cash Acquired
PaymentsToAcquireBusinessThreeNetOfCashAcquired
15981000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
188000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4114000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-94275000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30421000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11455000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
14959000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
100000000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
408610000
lrn Purchases Of Capped Calls In Connection With Convertible Senior Notes
PurchasesOfCappedCallsInConnectionWithConvertibleSeniorNotes
60354000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
303000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
48000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10885000
lrn Repurchase Of Restricted Stock For Income Tax Withholding
RepurchaseOfRestrictedStockForIncomeTaxWithholding
6108000
lrn Repurchase Of Restricted Stock For Income Tax Withholding
RepurchaseOfRestrictedStockForIncomeTaxWithholding
4883000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
220111000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19794000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
45879000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-71480000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213299000
CY2018Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
284621000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
259178000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213141000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
258107000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
211641000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
259178000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213141000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">1.   Description of the Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">Stride, Inc., together with its subsidiaries (“Stride” or the “Company”) is an education services company providing online and blended learning. On December 16, 2020, the Company changed its name from K12 Inc. to Stride, Inc. The brand reflects the Company’s continued growth into lifelong learning, regardless of a student’s age or location. The Company’s technology-based products and services enable its clients to attract, enroll, educate, track progress, and support students on a scalable basis. These products and services, spanning curriculum, systems, instruction, and support services are designed to help learners reach their educational goals through inspired teaching and personalized learning.  The Company’s clients are primarily public and private schools, school districts, and charter boards. Additionally, it offers solutions to employers, government agencies and consumers, including through private schools which it operates. These products and services are provided through two lines of revenue:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">General Education products and services are predominantly focused on kindergarten through twelfth grade students for core subjects including math, English, science and history, to help build a common foundation of knowledge. Programs utilizing General Education products and services are for students that are not specializing in any particular curriculum or course of study. These programs provide an alternative to traditional school options and serve a range of student needs including safety concerns, increased academic support, scheduling flexibility, physical/health restrictions or advanced learning among other reasons. Products and services are sold a la carte or combined into customized customer offerings.</span></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt 0pt 0pt 36pt;"><span style="font-size:10pt;margin-left:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"/><td style="font-family:'Times New Roman';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">Career Learning products and services are focused on developing skills for students, in middle school through high school and adult learners, to enter careers in high-growth, in-demand industries—including information technology, business, and health services. The Company provides middle and high school students with Career Learning programs that complement their core general education coursework in math, English, science and history.  Stride currently offers a catalog of over </span><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">160</span><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;"> Career Learning courses in </span><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">23</span><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;"> Career Pathways™ in </span><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">five</span><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;"> of the </span><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">sixteen</span><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;"> National Career Clusters. The middle school program spans career exploration, exposes students to a variety of career options, and introduces career skill development. In high school, students may engage in industry content pathway courses, project-based learning in virtual teams, and career development services. High school students also have the opportunity to progress toward certifications, connect with industry professionals, earn college credits while in high school, and participate in job shadowing and/or work based learning experiences that are required to succeed in today’s digital, tech-enabled economy. A student enrolled in a school offering our General Education program may take Career Learning courses but that student and associated revenue is not reported as Career Learning enrollment and revenue. A student and the associated revenue, whether in middle or high school is counted as Career Learning if enrolled in a school offering our Career Learning program and must commit to a career pathway and its associated services, including the Exploratory Pathways. Like General Education, products and services for the Career Learning market are sold a la carte or combined into a Career Learning program or customized customer offering. The Company also offers post-secondary Career Learning programs to adult learners, through its Galvanize, Inc. (“Galvanize”), Tech Elevator, Inc. (“Tech Elevator”), and MedCerts, LLC (“MedCerts”) subsidiaries. These programs include skills training in data science and software engineering, healthcare and medical fields, technology staffing and talent development, and are offered directly to consumers, employers and government agencies.</span></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">During the first quarter of fiscal year 2021, the Company revised its lines of revenue. Previously, the lines of revenue were (i) Managed Public School Programs, (ii) Institutional, and (iii) Private Pay Schools and Other. The Company believes that the change in the lines of revenue will facilitate a better understanding of the markets in which the Company competes.</p>
lrn Number Of Lines Of Revenues
NumberOfLinesOfRevenues
2
lrn Career Learning Courses Offered Number
CareerLearningCoursesOfferedNumber
160
lrn Number Of Career Paths Covered
NumberOfCareerPathsCovered
23
lrn Number Of National Career Clusters Covered
NumberOfNationalCareerClustersCovered
5
lrn Number Of National Career Clusters
NumberOfNationalCareerClusters
16
us-gaap Basis Of Accounting
BasisOfAccounting
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">2.   Basis of Presentation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The accompanying condensed consolidated balance sheet as of December 31, 2020, the condensed consolidated statements of operations and comprehensive income for the three and six months ended December 31, 2020 and 2019, the condensed consolidated statements of cash flows for the six months ended December 31, 2020 and 2019, and the condensed consolidated statements of stockholders’ equity for the three and six months ended December 31, 2020 and </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">2019 are unaudited. The unaudited interim financial statements have been prepared on the same basis as the annual financial statements, and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations for the periods presented. The results for the three and six months ended December 31, 2020 are not necessarily indicative of the results to be expected for the year ending June 30, 2021, for any other interim period or for any other future fiscal year. The condensed consolidated balance sheet as of June 30, 2020 has been derived from the audited consolidated financial statements at that date.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Accordingly, the Company does not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, these statements include all adjustments (consisting of normal recurring adjustments) considered necessary to present a fair statement of the Company’s condensed consolidated results of operations, financial position and cash flows. Preparation of the Company’s financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and footnotes. Actual results could differ from those estimates. This quarterly report on Form 10-Q should be read in conjunction with the financial statements and the notes thereto included in the Company’s latest annual report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on August 12, 2020, which contains the Company’s audited financial statements for the fiscal year ended June 30, 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The Company operates in one operating and <span style="-sec-ix-hidden:Hidden_MgmPkgB7nkiBpHvFqE5Acg;"><span style="color:#000000;font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;text-align:justify;">reportable</span></span> business segment as a technology-based education company providing proprietary and third party curriculum, software systems and educational services designed to facilitate individualized learning for students primarily in kindergarten through 12th grade. The Chief Operating Decision Maker evaluates profitability based on consolidated results.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q4 lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
24200000
CY2019Q4 lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
11200000
lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
44200000
lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
27500000
lrn Number Of Lines Of Revenues
NumberOfLinesOfRevenues
2
CY2020Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
376145000
CY2019Q4 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
257559000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
747105000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
514680000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
435254000
CY2020Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
236134000
CY2020Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
19031000
CY2020Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
15688000
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
62635000
CY2020Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
24417000
CY2020Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1970000
CY2020Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2236000
CY2020Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
47800000
CY2019Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
22500000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21400000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
16100000
CY2020Q4 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1700000
CY2019Q4 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
2400000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1600000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
2800000
lrn Minimum Payment Term
MinimumPaymentTerm
P30D
lrn Maximum Payment Term
MaximumPaymentTerm
P45D
CY2020Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
2000000.0
CY2020Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
4800000
CY2020Q2 us-gaap Inventory Noncurrent
InventoryNoncurrent
5200000
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5200000
CY2020Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4800000
CY2020Q4 us-gaap Equipment Expense
EquipmentExpense
1600000
CY2019Q4 us-gaap Equipment Expense
EquipmentExpense
700000
us-gaap Equipment Expense
EquipmentExpense
6000000.0
us-gaap Equipment Expense
EquipmentExpense
3200000
us-gaap Payments For Software
PaymentsForSoftware
14100000
us-gaap Payments For Software
PaymentsForSoftware
13000000.0
lrn Capitalized Curriculum Development Costs Useful Life
CapitalizedCurriculumDevelopmentCostsUsefulLife
P5Y
lrn Payments To Capitalized Curriculum Development Costs
PaymentsToCapitalizedCurriculumDevelopmentCosts
7500000
lrn Payments To Capitalized Curriculum Development Costs
PaymentsToCapitalizedCurriculumDevelopmentCosts
12000000.0
CY2020Q4 lrn Amortization Of Capitalized Curriculum Development Costs
AmortizationOfCapitalizedCurriculumDevelopmentCosts
4300000
CY2019Q4 lrn Amortization Of Capitalized Curriculum Development Costs
AmortizationOfCapitalizedCurriculumDevelopmentCosts
4400000
lrn Amortization Of Capitalized Curriculum Development Costs
AmortizationOfCapitalizedCurriculumDevelopmentCosts
8300000
lrn Amortization Of Capitalized Curriculum Development Costs
AmortizationOfCapitalizedCurriculumDevelopmentCosts
8800000
CY2020Q4 lrn Lessee Finance Lease Purchase Option
LesseeFinanceLeasePurchaseOption
1
CY2019Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0386
CY2020Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0255
CY2020Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000
CY2019Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4600000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1500000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6800000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
12900000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12700000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11800000
CY2020Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
10500000
CY2020Q4 lrn Finite Lived Intangible Assets Amortization Expense Year Five And After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFiveAndAfterYearFive
51500000
CY2020Q4 us-gaap Goodwill
Goodwill
240800000
CY2020Q2 us-gaap Goodwill
Goodwill
174900000
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
144800000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
38300000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
106500000
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
111200000
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
33700000
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
77500000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
24501000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
20594000
us-gaap Net Income Loss
NetIncomeLoss
37167000
us-gaap Net Income Loss
NetIncomeLoss
10864000
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40160362
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39450017
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40072360
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39369287
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.61
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.28
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46893934
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41559191
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
24501000
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
20594000
us-gaap Net Income Loss
NetIncomeLoss
37167000
us-gaap Net Income Loss
NetIncomeLoss
10864000
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40160362
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39450017
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40072360
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39369287
CY2020Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
942063
CY2019Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
523916
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1608701
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1323535
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41102425
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39973933
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41681061
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40692822
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.52
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.27
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Reclassifications</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">As discussed in Note 1, “Description of the Business”, the Company has revised its lines of revenue. There was no impact on the presentation of the Company’s condensed consolidated statements of operations.</p>
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.303
CY2019Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.335
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.182
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.127
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
59300000
CY2020Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
17900000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
53100000
CY2020Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
19800000
CY2020Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
12069000
CY2020Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
13587000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
20943000
CY2020Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
2653000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
20330000
CY2020Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2040000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
8100000
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
61442000
CY2020Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
18280000
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2140000
CY2020Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
342000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
59302000
CY2020Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
17938000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
21506000
CY2020Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
13304000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
37796000
CY2020Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
4634000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
108200000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
117200000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
104000000.0
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
111800000
CY2019Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0386
CY2020Q1 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0255
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
12091000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23626000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
22880000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
22326000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16164000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13949000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15841000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
14890000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
14769000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
13956000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8341000
CY2019Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4241000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
13178000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8186000
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
155000
CY2019Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
178000
CY2020Q4 lrn Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
38544000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
38544000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
118525000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
129055000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10344000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11822000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
108181000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
117233000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
21204000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
20689000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
86977000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
96544000
CY2020Q4 lrn Number Of Facilities Being Subleased Through June2021
NumberOfFacilitiesBeingSubleasedThroughJune2021
1
CY2020Q4 lrn Number Of Facilities Being Subleased Through May2022
NumberOfFacilitiesBeingSubleasedThroughMay2022
2
CY2020Q4 lrn Number Of Facilities Being Subleased Through July2023
NumberOfFacilitiesBeingSubleasedThroughJuly2023
1
CY2020Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Remainder Of Fiscal Year
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsRemainderOfFiscalYear
980000
CY2020Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Next Twelve Months
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInNextTwelveMonths
1960000
CY2020Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Next Twelve Months
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInNextTwelveMonths
1496000
CY2020Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Two
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearTwo
1496000
CY2020Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Two
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearTwo
797000
CY2020Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Three
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearThree
797000
CY2020Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Three
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearThree
66000
CY2020Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Four
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearFour
66000
CY2020Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
3339000
CY2020Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
4319000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
273000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
381000
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
5579000
CY2019Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
1728000
us-gaap Operating Lease Cost
OperatingLeaseCost
11112000
us-gaap Operating Lease Cost
OperatingLeaseCost
3335000
CY2020Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
315000
CY2019Q4 us-gaap Short Term Lease Cost
ShortTermLeaseCost
319000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
600000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
707000
CY2020Q4 us-gaap Sublease Income
SubleaseIncome
447000
CY2019Q4 us-gaap Sublease Income
SubleaseIncome
128000
us-gaap Sublease Income
SubleaseIncome
927000
us-gaap Sublease Income
SubleaseIncome
315000
CY2020Q4 us-gaap Lease Cost
LeaseCost
13943000
CY2019Q4 us-gaap Lease Cost
LeaseCost
6338000
us-gaap Lease Cost
LeaseCost
24236000
us-gaap Lease Cost
LeaseCost
12294000
CY2020Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
5199000
CY2019Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
2016000
us-gaap Operating Lease Payments
OperatingLeasePayments
10364000
us-gaap Operating Lease Payments
OperatingLeasePayments
4089000
CY2020Q4 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5786000
CY2019Q4 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
7499000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
11455000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
14959000
CY2020Q4 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
30111000
CY2019Q4 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
6329000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
46865000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
12775000
CY2020Q4 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
377000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
589000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4847000
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M2D
CY2019Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y25D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M21D
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y11M26D
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0249
CY2019Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0333
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0276
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0386
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
120614000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7762000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
291624000
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
291624000
lrn Stock Based Compensation Expense Capitalized On Curriculum Development
StockBasedCompensationExpenseCapitalizedOnCurriculumDevelopment
96000
lrn Stock Based Compensation Expense Capitalized On Curriculum Development
StockBasedCompensationExpenseCapitalizedOnCurriculumDevelopment
90000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
11120000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
33712000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
69376000
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1021517
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
19.73
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y7M24D
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8325869
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
963867
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
19.91
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
57650
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.76
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y9M21D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
271701
CY2020Q1 lrn Employer Portion Of Social Security Payroll Tax Percentage
EmployerPortionOfSocialSecurityPayrollTaxPercentage
0.062
CY2020Q4 lrn Social Security Employer Payroll Tax Amount Deferred Under Cares Act
SocialSecurityEmployerPayrollTaxAmountDeferredUnderCaresAct
14100000
CY2020Q4 lrn Social Security Employer Payroll Tax Deferment Number Of Installment Payments
SocialSecurityEmployerPayrollTaxDefermentNumberOfInstallmentPayments
2
CY2020Q4 lrn Percentage Of Employer Social Security Payroll Tax Deferment To Be Paid By Prescribed Dates To Be Considered Timely
PercentageOfEmployerSocialSecurityPayrollTaxDefermentToBePaidByPrescribedDatesToBeConsideredTimely
0.50
lrn Business Combination Provisional Information Initial Accounting Incomplete Adjustment Working Capital
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentWorkingCapital
3000000.0
CY2020Q4 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
382911000
CY2019Q4 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
274293000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
762518000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
543223000
CY2020Q4 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
38881000
CY2019Q4 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
23304000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
51347000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-4851000
CY2020Q4 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
25033000
CY2019Q4 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
13758000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
38159000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-3085000
us-gaap Interest Paid
InterestPaid
1176000
us-gaap Interest Paid
InterestPaid
381000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8479000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2628000
CY2020Q4 lrn Operating Lease Right Of Use Asset Obtained Upon Adoption
OperatingLeaseRightOfUseAssetObtainedUponAdoption
1280000
CY2019Q4 lrn Operating Lease Right Of Use Asset Obtained Upon Adoption
OperatingLeaseRightOfUseAssetObtainedUponAdoption
17652000
CY2020Q4 lrn Finance Lease Right Of Use Asset Obtained In Exchange For New Finance Lease Liabilities
FinanceLeaseRightOfUseAssetObtainedInExchangeForNewFinanceLeaseLiabilities
46865000
CY2019Q4 lrn Finance Lease Right Of Use Asset Obtained In Exchange For New Finance Lease Liabilities
FinanceLeaseRightOfUseAssetObtainedInExchangeForNewFinanceLeaseLiabilities
12775000
lrn Stock Based Compensation Expense Capitalized On Software Development
StockBasedCompensationExpenseCapitalizedOnSoftwareDevelopment
127000
lrn Stock Based Compensation Expense Capitalized On Software Development
StockBasedCompensationExpenseCapitalizedOnSoftwareDevelopment
61000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
5584000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue
2096000

Files In Submission

Name View Source Status
0001558370-21-000397-index-headers.html Edgar Link pending
0001558370-21-000397-index.html Edgar Link pending
0001558370-21-000397.txt Edgar Link pending
0001558370-21-000397-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lrn-20201231.xsd Edgar Link pending
lrn-20201231x10q.htm Edgar Link pending
lrn-20201231x10q_htm.xml Edgar Link completed
lrn-20201231xex31d1.htm Edgar Link pending
lrn-20201231xex31d2.htm Edgar Link pending
lrn-20201231xex32d1.htm Edgar Link pending
lrn-20201231xex32d2.htm Edgar Link pending
lrn-20201231_cal.xml Edgar Link unprocessable
lrn-20201231_def.xml Edgar Link unprocessable
lrn-20201231_lab.xml Edgar Link unprocessable
lrn-20201231_pre.xml Edgar Link unprocessable
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending