$LRN
Stride, Inc.

2021 Q2 Form 10-Q Financial Statement

#000155837021004527 Filed on April 21, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2021 Q1 2020 Q1
Revenue $397.5M $392.1M $257.2M
YoY Change 47.81% 52.49% 1.54%
Cost Of Revenue $260.9M $253.1M $179.0M
YoY Change 47.04% 41.44% 6.36%
Gross Profit $136.6M $139.0M $78.19M
YoY Change 49.3% 77.8% -8.01%
Gross Profit Margin 34.36% 35.45% 30.4%
Selling, General & Admin $106.8M $100.5M $63.69M
YoY Change 26.48% 57.75% 3.18%
% of Gross Profit 78.19% 72.27% 81.46%
Research & Development $163.2M $80.30M $83.10M
YoY Change 3.82% -3.37% 3513.04%
% of Gross Profit 119.47% 57.76% 106.29%
Depreciation & Amortization $25.08M $23.60M $5.700M
YoY Change 29.93% 314.04% 16.33%
% of Gross Profit 18.36% 16.98% 7.29%
Operating Expenses $115.2M $100.5M $63.69M
YoY Change 36.42% 57.75% 3.18%
Operating Profit $21.39M $38.55M $14.50M
YoY Change 203.75% 165.9% -37.68%
Interest Expense -$5.477M -$5.371M -$76.00K
YoY Change 849.22% 6967.11% -110.08%
% of Operating Profit -25.61% -13.93% -0.52%
Other Income/Expense, Net $553.0K $486.0K -$1.093M
YoY Change -45.14% -144.46% -296.58%
Pretax Income $16.46M $33.67M $13.33M
YoY Change 120.33% 152.57% -45.76%
Income Tax $5.998M $10.28M $4.419M
% Of Pretax Income 36.43% 30.52% 33.15%
Net Earnings $10.50M $23.79M $8.754M
YoY Change 114.71% 171.75% -52.58%
Net Earnings / Revenue 2.64% 6.07% 3.4%
Basic Earnings Per Share $0.59 $0.22
Diluted Earnings Per Share $247.7K $0.57 $0.22
COMMON SHARES
Basic Shares Outstanding 41.54M 40.29M 39.54M
Diluted Shares Outstanding 41.69M 39.94M

Balance Sheet

Concept 2021 Q2 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $386.1M $329.0M $150.0M
YoY Change 81.86% 119.33% -35.9%
Cash & Equivalents $386.1M $329.0M $150.0M
Short-Term Investments $1.600M $2.500M $1.600M
Other Short-Term Assets $43.00M $22.92M $13.81M
YoY Change 274.6% 65.9% -57.1%
Inventory $39.69M $28.81M $19.58M
Prepaid Expenses $19.45M $26.66M $18.95M
Receivables $369.3M $422.8M $284.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $857.5M $830.2M $486.7M
YoY Change 71.07% 70.58% -6.76%
LONG-TERM ASSETS
Property, Plant & Equipment $72.07M $182.9M $151.1M
YoY Change 86.38% 21.05% 360.67%
Goodwill $240.4M $240.3M $197.8M
YoY Change 37.42% 21.49%
Intangibles $99.48M $103.0M $43.89M
YoY Change 28.44% 134.77%
Long-Term Investments $4.900M $4.300M $20.60M
YoY Change -76.56% -79.13% 4.04%
Other Assets $105.5M $77.32M $56.49M
YoY Change 46.9% 36.87% 24.15%
Total Long-Term Assets $719.8M $704.0M $549.3M
YoY Change 25.84% 28.15% 91.4%
TOTAL ASSETS
Total Short-Term Assets $857.5M $830.2M $486.7M
Total Long-Term Assets $719.8M $704.0M $549.3M
Total Assets $1.577B $1.534B $1.036B
YoY Change 46.96% 48.08% 28.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $62.14M $47.04M $25.24M
YoY Change 53.72% 86.42% 8.77%
Accrued Expenses $77.64M $44.20M $25.95M
YoY Change 183.87% 70.3% -46.27%
Deferred Revenue $38.11M $53.45M $39.62M
YoY Change 56.08% 34.91%
Short-Term Debt $0.00 $0.00 $100.0M
YoY Change -100.0% -100.0%
Long-Term Debt Due $27.34M $26.00M $18.00M
YoY Change 105.53% 44.44% -26.53%
Total Short-Term Liabilities $306.2M $254.8M $257.6M
YoY Change 12.01% -1.09% 73.13%
LONG-TERM LIABILITIES
Long-Term Debt $299.3M $295.4M $5.300M
YoY Change 6405.89% 5473.36% -20.9%
Other Long-Term Liabilities $16.26M $39.95M $6.438M
YoY Change 69.87% 520.55% -39.26%
Total Long-Term Liabilities $315.5M $335.3M $6.438M
YoY Change 3197.38% 5108.74% -62.79%
TOTAL LIABILITIES
Total Short-Term Liabilities $306.2M $254.8M $257.6M
Total Long-Term Liabilities $315.5M $335.3M $6.438M
Total Liabilities $772.6M $747.4M $371.4M
YoY Change 94.17% 101.25% 101.51%
SHAREHOLDERS EQUITY
Retained Earnings $112.2M $101.7M $42.07M
YoY Change 138.86% 141.66%
Common Stock $795.5M $788.0M $725.0M
YoY Change 8.85% 8.69%
Preferred Stock
YoY Change
Treasury Stock (at cost) $102.5M $102.5M $102.5M
YoY Change 0.0% 0.0%
Treasury Stock Shares $5.335M $5.335M $5.335M
Shareholders Equity $804.6M $786.8M $664.6M
YoY Change
Total Liabilities & Shareholders Equity $1.577B $1.534B $1.036B
YoY Change 46.96% 48.08% 28.06%

Cashflow Statement

Concept 2021 Q2 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $10.50M $23.79M $8.754M
YoY Change 114.71% 171.75% -52.58%
Depreciation, Depletion And Amortization $25.08M $23.60M $5.700M
YoY Change 29.93% 314.04% 16.33%
Cash From Operating Activities $123.1M $91.10M $24.30M
YoY Change 58.98% 274.9% -49.79%
INVESTING ACTIVITIES
Capital Expenditures -$17.36M -$11.30M -$9.500M
YoY Change 88.73% 18.95% 1.06%
Acquisitions
YoY Change
Other Investing Activities -$41.58M -$900.0K -$168.2M
YoY Change 41480.0% -99.46% -42150.0%
Cash From Investing Activities -$58.94M -$12.20M -$177.7M
YoY Change 533.8% -93.13% 1852.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.524M -8.000M 91.70M
YoY Change 19.43% -108.72% -1166.28%
NET CHANGE
Cash From Operating Activities 123.1M 91.10M 24.30M
Cash From Investing Activities -58.94M -12.20M -177.7M
Cash From Financing Activities -7.524M -8.000M 91.70M
Net Change In Cash 56.58M 70.90M -61.70M
YoY Change -8.44% -214.91% -300.98%
FREE CASH FLOW
Cash From Operating Activities $123.1M $91.10M $24.30M
Capital Expenditures -$17.36M -$11.30M -$9.500M
Free Cash Flow $140.4M $102.4M $33.80M
YoY Change 62.14% 202.96% -41.52%

Facts In Submission

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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
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RepurchaseOfRestrictedStockForIncomeTaxWithholding
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us-gaap Profit Loss
ProfitLoss
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us-gaap Depreciation Depletion And Amortization
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us-gaap Increase Decrease In Employee Related Liabilities
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lrn Increase Decrease In Contract With Customer Liability And Other Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Payments For Software
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PaymentsToCapitalizedCurriculumDevelopmentCosts
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lrn Payments To Capitalized Curriculum Development Costs
PaymentsToCapitalizedCurriculumDevelopmentCosts
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us-gaap Proceeds From Sale Of Productive Assets
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us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330033000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Nature Of Operations
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<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 offers multiple career pathways supported by a diverse catalog of Career Learning courses. 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><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>
lrn Number Of Lines Of Revenues
NumberOfLinesOfRevenues
2
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
17103000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
21603000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
105000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
100000000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
5000000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
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lrn Purchases Of Capped Calls In Connection With Convertible Senior Notes
PurchasesOfCappedCallsInConnectionWithConvertibleSeniorNotes
60354000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
724000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
48000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
10885000
lrn Payment For Repurchase Of Restricted Stock For Income Tax Withholding Financing Activities
PaymentForRepurchaseOfRestrictedStockForIncomeTaxWithholdingFinancingActivities
8872000
lrn Payment For Repurchase Of Restricted Stock For Income Tax Withholding Financing Activities
PaymentForRepurchaseOfRestrictedStockForIncomeTaxWithholdingFinancingActivities
6504000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
212120000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
116734000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-133087000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213299000
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
284621000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
330033000
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
151534000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
329031000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
150034000
us-gaap Basis Of Accounting
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<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 March 31, 2021, the condensed consolidated statements of operations and comprehensive income for the three and nine months ended March 31, 2021 and 2020, the condensed consolidated statements of cash flows for the nine months ended March 31, 2021 and 2020, and the condensed </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">consolidated statements of stockholders’ equity for the three and nine months ended March 31, 2021 and 2020 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 nine months ended March 31, 2021 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_RNoZXxF3KkeSLjTudcDPyA;"><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
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RevenueReductionSchoolOperatingLosses
13800000
CY2020Q1 lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
11000000.0
lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
57900000
lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
38500000
lrn Number Of Lines Of Revenues
NumberOfLinesOfRevenues
2
CY2021Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
392145000
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
257154000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1139250000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
771834000
lrn Concentration Risk Number Of Customers
ConcentrationRiskNumberOfCustomers
0
CY2020Q1 lrn Concentration Risk Number Of Customers
ConcentrationRiskNumberOfCustomers
0
us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10
CY2020Q1 us-gaap Concentration Risk Percentage1
ConcentrationRiskPercentage1
0.10
CY2021Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
422786000
CY2020Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
236134000
CY2021Q1 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
17536000
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UnbilledReceivablesCurrent
15688000
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
53449000
CY2020Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
24417000
CY2021Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1880000
CY2020Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
2236000
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
36900000
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
29600000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
24300000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
19200000
CY2021Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
-4200000
CY2020Q1 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1500000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
-2600000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
4300000
lrn Minimum Payment Term
MinimumPaymentTerm
P30D
lrn Maximum Payment Term
MaximumPaymentTerm
P45D
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1900000
CY2021Q1 us-gaap Inventory Noncurrent
InventoryNoncurrent
4300000
CY2020Q2 us-gaap Inventory Noncurrent
InventoryNoncurrent
5200000
CY2021Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5600000
CY2020Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
4800000
CY2021Q1 us-gaap Equipment Expense
EquipmentExpense
700000
CY2020Q1 us-gaap Equipment Expense
EquipmentExpense
700000
us-gaap Equipment Expense
EquipmentExpense
6700000
us-gaap Equipment Expense
EquipmentExpense
3900000
us-gaap Payments For Software
PaymentsForSoftware
20200000
us-gaap Payments For Software
PaymentsForSoftware
18800000
lrn Capitalized Curriculum Development Costs Useful Life
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P5Y
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PaymentsToCapitalizedCurriculumDevelopmentCosts
11700000
lrn Payments To Capitalized Curriculum Development Costs
PaymentsToCapitalizedCurriculumDevelopmentCosts
15500000
CY2021Q1 lrn Amortization Of Capitalized Curriculum Development Costs
AmortizationOfCapitalizedCurriculumDevelopmentCosts
4400000
CY2020Q1 lrn Amortization Of Capitalized Curriculum Development Costs
AmortizationOfCapitalizedCurriculumDevelopmentCosts
4500000
lrn Amortization Of Capitalized Curriculum Development Costs
AmortizationOfCapitalizedCurriculumDevelopmentCosts
12700000
lrn Amortization Of Capitalized Curriculum Development Costs
AmortizationOfCapitalizedCurriculumDevelopmentCosts
13300000
CY2021Q1 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
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3500000
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1800000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
8100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3300000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
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3300000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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12900000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
12700000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
11800000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
10500000
CY2021Q1 lrn Finite Lived Intangible Assets Amortization Expense Year Five And After Year Five
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51500000
CY2021Q1 us-gaap Goodwill
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240300000
CY2020Q2 us-gaap Goodwill
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174900000
CY2020 us-gaap Number Of Reportable Segments
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1
CY2020 us-gaap Goodwill Impairment Loss
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0
CY2021Q1 us-gaap Net Income Loss
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23789000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
8754000
us-gaap Net Income Loss
NetIncomeLoss
60956000
us-gaap Net Income Loss
NetIncomeLoss
19618000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
144800000
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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41800000
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103000000.0
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FiniteLivedIntangibleAssetsGross
111200000
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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33700000
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
77500000
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40286109
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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39539791
us-gaap Weighted Average Number Of Shares Outstanding Basic
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40143610
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39426121
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0.59
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.22
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.50
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
23789000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
8754000
us-gaap Net Income Loss
NetIncomeLoss
60956000
us-gaap Net Income Loss
NetIncomeLoss
19618000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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40286109
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39539791
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40143610
us-gaap Weighted Average Number Of Shares Outstanding Basic
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39426121
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1404400
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
399107
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1558345
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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1035169
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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41690509
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
39938898
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41701955
CY2021Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
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2375000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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40461290
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.57
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.46
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2021Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46877934
CY2021Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41543191
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>
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.302
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.335
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.233
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.234
CY2021Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
69200000
CY2020Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
17900000
CY2021Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
55500000
CY2020Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
19800000
CY2021Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
7615000
CY2020Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
13587000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
26311000
CY2020Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
2653000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
25698000
CY2020Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2040000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
11904000
CY2021Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
71528000
CY2020Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
18280000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
14769000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
14222000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
13949000
CY2021Q1 lrn Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
38679000
CY2020Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
342000
CY2021Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
69153000
CY2020Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
17938000
CY2021Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
26036000
CY2020Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
13304000
CY2021Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
43117000
CY2020Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
4634000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
103900000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
117200000
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
100000000.0
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
111800000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
6058000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23626000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23124000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
22326000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16416000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15841000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15148000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
38544000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
113647000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
129055000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9788000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11822000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
103859000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
117233000
CY2021Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
21259000
CY2020Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
20689000
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
82600000
CY2020Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
96544000
CY2021Q1 lrn Number Of Facilities Being Subleased Through June2021
NumberOfFacilitiesBeingSubleasedThroughJune2021
1
CY2021Q1 lrn Number Of Facilities Being Subleased Through May2022
NumberOfFacilitiesBeingSubleasedThroughMay2022
2
CY2021Q1 lrn Number Of Facilities Being Subleased Through July2023
NumberOfFacilitiesBeingSubleasedThroughJuly2023
1
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
7987000
CY2020Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4232000
CY2021Q1 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Remainder Of Fiscal Year
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsRemainderOfFiscalYear
490000
CY2020Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Next Twelve Months
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInNextTwelveMonths
1960000
CY2021Q1 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
CY2021Q1 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
CY2021Q1 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
CY2021Q1 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
2849000
CY2020Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
4319000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
21165000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
12418000
CY2021Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
412000
CY2020Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
276000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
684000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
657000
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
5712000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
4035000
us-gaap Operating Lease Cost
OperatingLeaseCost
16825000
us-gaap Operating Lease Cost
OperatingLeaseCost
7370000
CY2021Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
232000
CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
280000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
832000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
987000
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
514000
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
215000
us-gaap Sublease Income
SubleaseIncome
1441000
us-gaap Sublease Income
SubleaseIncome
531000
CY2021Q1 us-gaap Lease Cost
LeaseCost
13829000
CY2020Q1 us-gaap Lease Cost
LeaseCost
8608000
us-gaap Lease Cost
LeaseCost
38065000
us-gaap Lease Cost
LeaseCost
20901000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
5286000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
4062000
us-gaap Operating Lease Payments
OperatingLeasePayments
15650000
us-gaap Operating Lease Payments
OperatingLeasePayments
8151000
CY2021Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5648000
CY2020Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
6644000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
17103000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
21603000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
14748000
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
3715000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
61613000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
16490000
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
964000
CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
502000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1553000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5349000
CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M4D
CY2020Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y10M24D
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M1D
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M25D
CY2021Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0249
CY2020Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0288
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0277
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0278
CY2021Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
117027000
CY2021Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7585000
CY2021Q1 us-gaap Long Term Debt
LongTermDebt
295388000
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
295388000
CY2021Q1 lrn Percentage Of Employer Social Security Payroll Tax Deferment To Be Paid By Prescribed Dates To Be Considered Timely
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0.50
lrn Business Combination Provisional Information Initial Accounting Incomplete Adjustment Working Capital
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentWorkingCapital
3000000.0
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1021517
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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
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988317
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
19.84
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
33200
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.44
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y10M9D
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
455620
CY2020Q1 lrn Employer Portion Of Social Security Payroll Tax Percentage
EmployerPortionOfSocialSecurityPayrollTaxPercentage
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CY2021Q1 lrn Social Security Employer Payroll Tax Amount Deferred Under Cares Act
SocialSecurityEmployerPayrollTaxAmountDeferredUnderCaresAct
14100000
CY2021Q1 lrn Social Security Employer Payroll Tax Deferment Number Of Installment Payments
SocialSecurityEmployerPayrollTaxDefermentNumberOfInstallmentPayments
2
lrn Finance Lease Right Of Use Asset Obtained In Exchange For New Finance Lease Liabilities
FinanceLeaseRightOfUseAssetObtainedInExchangeForNewFinanceLeaseLiabilities
16490000
lrn Stock Based Compensation Expense Capitalized On Software Development
StockBasedCompensationExpenseCapitalizedOnSoftwareDevelopment
186000
lrn Stock Based Compensation Expense Capitalized On Software Development
StockBasedCompensationExpenseCapitalizedOnSoftwareDevelopment
92000
lrn Stock Based Compensation Expense Capitalized On Curriculum Development
StockBasedCompensationExpenseCapitalizedOnCurriculumDevelopment
145000
lrn Stock Based Compensation Expense Capitalized On Curriculum Development
StockBasedCompensationExpenseCapitalizedOnCurriculumDevelopment
135000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
11120000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
129982000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
33712000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
32162000
us-gaap Goodwill Acquired During Period
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68828000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
107606000
CY2021Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
392145000
CY2020Q1 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
267398000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
1154663000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
810621000
CY2021Q1 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
38553000
CY2020Q1 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-4706000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
89900000
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
-9557000
CY2021Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
23789000
CY2020Q1 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-10360000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
61948000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-13447000
us-gaap Interest Paid
InterestPaid
4024000
us-gaap Interest Paid
InterestPaid
660000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
15212000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2796000
lrn Operating Lease Right Of Use Asset Obtained Upon Adoption
OperatingLeaseRightOfUseAssetObtainedUponAdoption
17652000
lrn Operating Lease Right Of Use Asset Obtained From Acquisition
OperatingLeaseRightOfUseAssetObtainedFromAcquisition
1280000
lrn Operating Lease Right Of Use Asset Obtained From Acquisition
OperatingLeaseRightOfUseAssetObtainedFromAcquisition
90716000
lrn Finance Lease Right Of Use Asset Obtained In Exchange For New Finance Lease Liabilities
FinanceLeaseRightOfUseAssetObtainedInExchangeForNewFinanceLeaseLiabilities
61613000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
5036000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
88873000
CY2021Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue
2096000
CY2020Q1 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue
3649000

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