2021 Q4 Form 10-Q Financial Statement

#000155837022000430 Filed on January 26, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2020 Q4
Revenue $409.5M $376.1M
YoY Change 8.87% 46.04%
Cost Of Revenue $262.0M $246.8M
YoY Change 6.16% 47.34%
Gross Profit $147.6M $129.4M
YoY Change 14.04% 43.63%
Gross Profit Margin 36.03% 34.4%
Selling, General & Admin $90.64M $90.94M
YoY Change -0.33% 52.11%
% of Gross Profit 61.43% 70.28%
Research & Development $165.9M
YoY Change
% of Gross Profit 112.43%
Depreciation & Amortization $25.18M $23.10M
YoY Change 9.0% 327.78%
% of Gross Profit 17.06% 17.85%
Operating Expenses $90.64M $90.94M
YoY Change -0.33% 52.11%
Operating Profit $56.92M $38.45M
YoY Change 48.02% 26.88%
Interest Expense -$1.875M -$5.024M
YoY Change -62.68% -1239.23%
% of Operating Profit -3.29% -13.07%
Other Income/Expense, Net $3.884M $1.361M
YoY Change 185.38% 272.88%
Pretax Income $58.92M $34.79M
YoY Change 69.38% 11.82%
Income Tax $15.93M $10.64M
% Of Pretax Income 27.03% 30.59%
Net Earnings $42.00M $24.50M
YoY Change 71.44% 18.97%
Net Earnings / Revenue 10.26% 6.51%
Basic Earnings Per Share $1.01 $0.61
Diluted Earnings Per Share $1.00 $0.60
COMMON SHARES
Basic Shares Outstanding 41.53M 40.16M
Diluted Shares Outstanding 41.96M 41.10M

Balance Sheet

Concept 2021 Q4 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.0M $258.1M
YoY Change -0.43% 21.98%
Cash & Equivalents $257.0M $258.1M
Short-Term Investments $6.400M $1.500M
Other Short-Term Assets $75.53M $24.97M
YoY Change 202.44% 82.43%
Inventory $23.94M $28.62M
Prepaid Expenses $29.24M $21.53M
Receivables $430.4M $435.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $816.1M $768.5M
YoY Change 6.2% 49.6%
LONG-TERM ASSETS
Property, Plant & Equipment $165.6M $182.5M
YoY Change -9.28% 418.47%
Goodwill $240.9M $240.8M
YoY Change 0.05% 166.96%
Intangibles $95.21M $106.5M
YoY Change -10.64% 689.53%
Long-Term Investments $5.700M $3.600M
YoY Change 58.33% -82.61%
Other Assets $97.62M $75.18M
YoY Change 29.85% 3.3%
Total Long-Term Assets $709.6M $703.5M
YoY Change 0.87% 124.57%
TOTAL ASSETS
Total Short-Term Assets $816.1M $768.5M
Total Long-Term Assets $709.6M $703.5M
Total Assets $1.526B $1.472B
YoY Change 3.65% 78.0%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $33.82M $39.25M
YoY Change -13.83% 28.28%
Accrued Expenses $61.46M $41.51M
YoY Change 48.05% 111.63%
Deferred Revenue $50.41M $62.64M
YoY Change -19.52% 165.75%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $36.08M $21.50M
YoY Change 67.81% -7.73%
Total Short-Term Liabilities $238.2M $228.6M
YoY Change 4.19% 71.03%
LONG-TERM LIABILITIES
Long-Term Debt $410.7M $291.6M
YoY Change 40.82% 13786.86%
Other Long-Term Liabilities $10.73M $39.87M
YoY Change -73.1% 377.91%
Total Long-Term Liabilities $421.4M $331.5M
YoY Change 27.12% 3873.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $238.2M $228.6M
Total Long-Term Liabilities $421.4M $331.5M
Total Liabilities $791.5M $719.5M
YoY Change 10.0% 309.16%
SHAREHOLDERS EQUITY
Retained Earnings $156.5M $77.87M
YoY Change 100.92% 133.76%
Common Stock $680.6M $777.4M
YoY Change -12.45% 7.91%
Preferred Stock
YoY Change
Treasury Stock (at cost) $102.5M $102.5M
YoY Change 0.0% 0.0%
Treasury Stock Shares $5.335M $5.335M
Shareholders Equity $734.2M $752.4M
YoY Change
Total Liabilities & Shareholders Equity $1.526B $1.472B
YoY Change 3.65% 78.0%

Cashflow Statement

Concept 2021 Q4 2020 Q4
OPERATING ACTIVITIES
Net Income $42.00M $24.50M
YoY Change 71.44% 18.97%
Depreciation, Depletion And Amortization $25.18M $23.10M
YoY Change 9.0% 327.78%
Cash From Operating Activities $119.8M $34.50M
YoY Change 247.37% -47.33%
INVESTING ACTIVITIES
Capital Expenditures -$14.15M -$10.80M
YoY Change 31.04% 16.13%
Acquisitions
YoY Change
Other Investing Activities -$22.28M -$67.80M
YoY Change -67.14% 2321.43%
Cash From Investing Activities -$36.43M -$78.60M
YoY Change -53.65% 544.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -44.94M -6.600M
YoY Change 580.95% -14.29%
NET CHANGE
Cash From Operating Activities 119.8M 34.50M
Cash From Investing Activities -36.43M -78.60M
Cash From Financing Activities -44.94M -6.600M
Net Change In Cash 38.47M -50.70M
YoY Change -175.87% -211.18%
FREE CASH FLOW
Cash From Operating Activities $119.8M $34.50M
Capital Expenditures -$14.15M -$10.80M
Free Cash Flow $134.0M $45.30M
YoY Change 195.79% -39.44%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
dei Entity Central Index Key
EntityCentralIndexKey
0001157408
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2021Q2 us-gaap Preferred Stock Value
PreferredStockValue
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
lrn Minimum Payment Term
MinimumPaymentTerm
P30D
lrn Maximum Payment Term
MaximumPaymentTerm
P45D
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
2021-12-31
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
CY2022Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
42787741
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
256986000
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
386080000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
26305000
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
21384000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
430436000
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
369303000
CY2021Q4 us-gaap Inventory Net
InventoryNet
23941000
CY2021Q2 us-gaap Inventory Net
InventoryNet
39690000
CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
29240000
CY2021Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
19453000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
75528000
CY2021Q2 us-gaap Other Assets Current
OtherAssetsCurrent
43004000
CY2021Q4 us-gaap Assets Current
AssetsCurrent
816131000
CY2021Q2 us-gaap Assets Current
AssetsCurrent
857530000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
91410000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
94671000
CY2021Q4 lrn Property Plant And Equipment Excluding Software Development Costs Net
PropertyPlantAndEquipmentExcludingSoftwareDevelopmentCostsNet
74149000
CY2021Q2 lrn Property Plant And Equipment Excluding Software Development Costs Net
PropertyPlantAndEquipmentExcludingSoftwareDevelopmentCostsNet
72069000
CY2021Q4 lrn Capitalized Software Development Costs For Software Applications Used Internally Net
CapitalizedSoftwareDevelopmentCostsForSoftwareApplicationsUsedInternallyNet
60520000
CY2021Q2 lrn Capitalized Software Development Costs For Software Applications Used Internally Net
CapitalizedSoftwareDevelopmentCostsForSoftwareApplicationsUsedInternallyNet
57308000
CY2021Q4 lrn Capitalized Software Development Costs For Software Application Used Internally Curriculum Content Net
CapitalizedSoftwareDevelopmentCostsForSoftwareApplicationUsedInternallyCurriculumContentNet
49787000
CY2021Q2 lrn Capitalized Software Development Costs For Software Application Used Internally Curriculum Content Net
CapitalizedSoftwareDevelopmentCostsForSoftwareApplicationUsedInternallyCurriculumContentNet
50376000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
95210000
CY2021Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
99480000
CY2021Q4 us-gaap Goodwill
Goodwill
240921000
CY2021Q2 us-gaap Goodwill
Goodwill
240353000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
97617000
CY2021Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
105510000
CY2021Q4 us-gaap Assets
Assets
1525745000
CY2021Q2 us-gaap Assets
Assets
1577297000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
33821000
CY2021Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
62144000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
61462000
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
77642000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
41193000
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
80363000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
50409000
CY2021Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
38110000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
36080000
CY2021Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
27336000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15233000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
20649000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
238198000
CY2021Q2 us-gaap Liabilities Current
LiabilitiesCurrent
306244000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
44612000
CY2021Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
41568000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
79020000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
77458000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
410674000
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
299271000
CY2021Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
8282000
CY2021Q2 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
31853000
CY2021Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
10726000
CY2021Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
16255000
CY2021Q4 us-gaap Liabilities
Liabilities
791512000
CY2021Q2 us-gaap Liabilities
Liabilities
772649000
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
48084410
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
46911527
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
42749667
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
41576784
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
4000
CY2021Q2 us-gaap Common Stock Value
CommonStockValue
4000
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
680601000
CY2021Q2 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
795449000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-343000
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-474000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
156453000
CY2021Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
112151000
CY2021Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
5334743
CY2021Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
5334743
CY2021Q4 us-gaap Treasury Stock Value
TreasuryStockValue
102482000
CY2021Q2 us-gaap Treasury Stock Value
TreasuryStockValue
102482000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
734233000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
804648000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1525745000
CY2021Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1577297000
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
409507000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
376145000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
809733000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
747105000
CY2021Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
261950000
CY2020Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
246754000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
535774000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
487823000
CY2021Q4 us-gaap Gross Profit
GrossProfit
147557000
CY2020Q4 us-gaap Gross Profit
GrossProfit
129391000
us-gaap Gross Profit
GrossProfit
273959000
us-gaap Gross Profit
GrossProfit
259282000
CY2021Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
90642000
CY2020Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
90939000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
224021000
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
208766000
CY2021Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
56915000
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
38452000
us-gaap Operating Income Loss
OperatingIncomeLoss
49938000
us-gaap Operating Income Loss
OperatingIncomeLoss
50516000
CY2021Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-1875000
CY2020Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-5024000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-3868000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-7131000
CY2021Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3884000
CY2020Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1361000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3795000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1790000
CY2021Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
58924000
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
34789000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
49865000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
45175000
CY2021Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
15928000
CY2020Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10642000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
13035000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8266000
CY2021Q4 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-992000
CY2020Q4 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
354000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-709000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
258000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
42004000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
24501000
us-gaap Net Income Loss
NetIncomeLoss
36121000
us-gaap Net Income Loss
NetIncomeLoss
37167000
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.61
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.00
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41525736
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40160362
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41042401
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40072360
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41963399
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41102425
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42413828
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41681061
CY2021Q4 us-gaap Profit Loss
ProfitLoss
42004000
CY2020Q4 us-gaap Profit Loss
ProfitLoss
24501000
us-gaap Profit Loss
ProfitLoss
36121000
us-gaap Profit Loss
ProfitLoss
37167000
CY2021Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-13000
CY2020Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-270000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
131000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-462000
CY2021Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
41991000
CY2020Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
24231000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
36252000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
36705000
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
804648000
CY2021Q3 us-gaap Net Income Loss
NetIncomeLoss
-5883000
CY2021Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
144000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8050000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation And Exercise Of Stock Options
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationAndExerciseOfStockOptions
246000
CY2021Q3 lrn Repurchase Of Restricted Stock For Income Tax Withholding
RepurchaseOfRestrictedStockForIncomeTaxWithholding
6020000
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
719906000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
42004000
CY2021Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-13000
CY2021Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1697000
CY2021Q4 lrn Repurchase Of Restricted Stock For Income Tax Withholding
RepurchaseOfRestrictedStockForIncomeTaxWithholding
29361000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
734233000
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 Adjustments To Additional Paid In Capital Purchases Of Capped Calls In Connection With Convertible Senior Notes
AdjustmentsToAdditionalPaidInCapitalPurchasesOfCappedCallsInConnectionWithConvertibleSeniorNotes
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
us-gaap Profit Loss
ProfitLoss
36121000
us-gaap Profit Loss
ProfitLoss
37167000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
49327000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
41438000
us-gaap Share Based Compensation
ShareBasedCompensation
8888000
us-gaap Share Based Compensation
ShareBasedCompensation
17967000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6008000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
5375000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4730000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6382000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
809000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
4973000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
10074000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
9627000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
5550000
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
7244000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
65606000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
208870000
lrn Increase Decrease In Inventories Prepaid Expenses And Other Assets
IncreaseDecreaseInInventoriesPrepaidExpensesAndOtherAssets
-11944000
lrn Increase Decrease In Inventories Prepaid Expenses And Other Assets
IncreaseDecreaseInInventoriesPrepaidExpensesAndOtherAssets
23231000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-26810000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-7202000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-8570000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4346000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-39157000
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-5401000
lrn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-10662000
lrn Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
-10364000
lrn Increase Decrease In Contract With Customer Liability And Other Liabilities
IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiabilities
5686000
lrn Increase Decrease In Contract With Customer Liability And Other Liabilities
IncreaseDecreaseInContractWithCustomerLiabilityAndOtherLiabilities
40592000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-11668000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-79957000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2705000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1969000
us-gaap Payments For Software
PaymentsForSoftware
19330000
us-gaap Payments For Software
PaymentsForSoftware
14061000
lrn Payments To Capitalized Curriculum Development Costs
PaymentsToCapitalizedCurriculumDevelopmentCosts
7461000
lrn Payments To Capitalized Curriculum Development Costs
PaymentsToCapitalizedCurriculumDevelopmentCosts
7524000
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
223000
us-gaap Proceeds From Sale Of Other Investments
ProceedsFromSaleOfOtherInvestments
5261000
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 Other Investments
PaymentsToAcquireOtherInvestments
3956000
us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
188000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
7248000
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
38720000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-59663000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-94275000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
14744000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
11455000
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
lrn Payments Of Deferred Purchase Consideration
PaymentsOfDeferredPurchaseConsideration
7858000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
246000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
303000
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
35404000
lrn Payment For Repurchase Of Restricted Stock For Income Tax Withholding Financing Activities
PaymentForRepurchaseOfRestrictedStockForIncomeTaxWithholdingFinancingActivities
6108000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-57760000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
220111000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-129091000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
45879000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
386582000
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213299000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257491000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
259178000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
256986000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
258107000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257491000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
259178000
us-gaap Nature Of Operations
NatureOfOperations
<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;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 virtual 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. These products and services, spanning curriculum, systems, instruction, and support services are designed to help learners of all ages reach their full potential 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. 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:10pt;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','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Products and services for the General Education market are predominantly focused on core subjects, including math, English, science and history, for kindergarten through twelfth grade students 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 address a range of student needs including, safety concerns, increased academic support, scheduling flexibility, physical/health restrictions or advanced learning. Products and services are sold as a comprehensive school-as-a-service offering or à la carte.</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:10pt;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','Times','serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">●</td><td style="padding:0pt;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Career Learning products and services are focused on developing skills to enter and succeed in careers in high-growth, in-demand industries—including information technology, health care and general business.  The Company pr</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;background:#ffffff;">ovides 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 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 that offers Stride’s General Education program may elect to take Career Learning courses, but that student and the associated revenue is not reported as a Career Learning enrollment or Career Learning revenue. However, a student and the associated revenue is counted as a Career Learning enrollment or Career Learning revenue if the student is enrolled in a Career Learning program</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">. Like General Education products and services, the products and services for the Career Learning market are sold as a comprehensive school-as-a-service offering or à la carte.  The Company also offers focused post-secondary career learning programs to adult learners, through its Galvanize, Inc. (“Galvanize”), Tech Elevator, Inc. (“Tech Elevator”), and MedCerts, LLC (“MedCerts”) brands. These include skills training in the </span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;background:#ffffff;">data science, software engineering, healthcare, and medical fields, as well as providing staffing and talent development services to employers</span><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">. These programs are offered directly to consumers, as well as to employers and government agencies.</span></td></tr></table>
CY2021Q4 lrn Number Of Lines Of Revenues
NumberOfLinesOfRevenues
2
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, 2021, the condensed consolidated statements of operations and comprehensive income for the three and six months ended December 31, 2021 and 2020, the condensed consolidated statements of cash flows for the six months ended December 31, 2021 and 2020, and the condensed consolidated statements of stockholders’ equity for the three and six months ended December 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 six months ended December 31, 2021 are not necessarily indicative of the results to be expected for the year ending June 30, 2022, for any other interim period or for any other future fiscal year. The condensed consolidated balance sheet as of June 30, 2021 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 11, 2021, which contains the Company’s audited financial statements for the fiscal year ended June 30, 2021.</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_Ynk7hxOvg0q_YzFj6kdzbQ;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">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 and adults. 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
CY2021Q4 lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
12300000
CY2020Q4 lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
24200000
lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
25200000
lrn Revenue Reduction School Operating Losses
RevenueReductionSchoolOperatingLosses
44200000
CY2021Q4 lrn Number Of Lines Of Revenues
NumberOfLinesOfRevenues
2
CY2021Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
409507000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
376145000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
809733000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
747105000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
430436000
CY2021Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
369303000
CY2021Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
20997000
CY2021Q2 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
24794000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
50409000
CY2021Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
38110000
CY2021Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
3505000
CY2021Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
1973000
CY2021Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
34700000
CY2020Q4 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
47800000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
33000000.0
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21400000
CY2021Q4 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
4600000
CY2020Q4 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1700000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
6900000
us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
1600000
CY2021Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
3500000
CY2021Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
71307000
CY2021Q2 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
17300000
CY2021Q2 us-gaap Held To Maturity Securities Noncurrent
HeldToMaturitySecuritiesNoncurrent
23200000
CY2021Q2 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
40542000
CY2021Q2 lrn Held To Maturity Securities Carrying Amount
HeldToMaturitySecuritiesCarryingAmount
40542000
CY2021Q2 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
24000
CY2021Q2 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
40518000
CY2021Q4 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
0
CY2021Q2 us-gaap Debt Securities Held To Maturity Allowance For Credit Loss
DebtSecuritiesHeldToMaturityAllowanceForCreditLoss
0
CY2021Q4 us-gaap Held To Maturity Securities Current
HeldToMaturitySecuritiesCurrent
51500000
CY2021Q4 us-gaap Held To Maturity Securities Noncurrent
HeldToMaturitySecuritiesNoncurrent
20000000.0
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
71509000
CY2021Q4 lrn Held To Maturity Securities Carrying Amount
HeldToMaturitySecuritiesCarryingAmount
71509000
CY2021Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
202000
CY2021Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
7200000
CY2021Q2 us-gaap Inventory Noncurrent
InventoryNoncurrent
8800000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
6000000.0
CY2021Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
5600000
us-gaap Equipment Expense
EquipmentExpense
5500000
CY2021Q4 us-gaap Equipment Expense
EquipmentExpense
2500000
CY2020Q4 us-gaap Equipment Expense
EquipmentExpense
1100000
us-gaap Equipment Expense
EquipmentExpense
7300000
us-gaap Payments For Software
PaymentsForSoftware
19300000
us-gaap Payments For Software
PaymentsForSoftware
14100000
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
7500000
CY2021Q4 lrn Lessee Finance Lease Purchase Option
LesseeFinanceLeasePurchaseOption
1
CY2021Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.0350
CY2021Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3200000
CY2020Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6400000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
4600000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6500000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
12900000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
11900000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
10700000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
9600000
CY2021Q4 lrn Finite Lived Intangible Assets Amortization Expense Year Five And After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFiveAndAfterYearFive
43300000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
147100000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
51900000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
95200000
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
144900000
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
45400000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
99500000
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
412500000
CY2021Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
71300000
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
42004000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
24501000
us-gaap Net Income Loss
NetIncomeLoss
36121000
us-gaap Net Income Loss
NetIncomeLoss
37167000
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41525736
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41963399
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41102425
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
42413828
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.182
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41525736
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40160362
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41042401
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40072360
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
437663
CY2020Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
942063
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1371427
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40160362
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
41042401
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40072360
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.01
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.61
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.88
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.93
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
42004000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
24501000
us-gaap Net Income Loss
NetIncomeLoss
36121000
us-gaap Net Income Loss
NetIncomeLoss
37167000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1608701
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
41681061
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.00
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.60
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.85
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
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;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;">Certain previous year amounts have been reclassified to conform with current year presentations, as related to the condensed consolidated statement of cash flows.</p>
CY2021Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.275
CY2020Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.303
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.265
CY2021Q4 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
18857000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
28715000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
37266000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
28105000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
23461000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
14303000
CY2021Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
3439000
CY2021Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
83023000
CY2021Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
71123000
CY2021Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2331000
CY2021Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2219000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
80692000
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
68904000
CY2021Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
36080000
CY2021Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
27336000
CY2021Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
44612000
CY2021Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
41568000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
94300000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
98100000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
91400000
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
94700000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9237000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
23030000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16432000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
16204000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
15752000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15032000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
16988000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
13178000
CY2021Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
445000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15258000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
14222000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12300000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
11247000
CY2021Q4 lrn Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
35267000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
27432000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
104246000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
107167000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9993000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9060000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
94253000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
98107000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15233000
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
20649000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
79020000
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
77458000
CY2021Q4 lrn Number Of Facilities Being Subleased Through May2022
NumberOfFacilitiesBeingSubleasedThroughMay2022
2
CY2021Q4 lrn Number Of Facilities Being Subleased Through July2023
NumberOfFacilitiesBeingSubleasedThroughJuly2023
1
lrn Number Of Facilities Being Subleased Through November2024
NumberOfFacilitiesBeingSubleasedThroughNovember2024
1
CY2021Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Remainder Of Fiscal Year
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsRemainderOfFiscalYear
877000
CY2021Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Next Twelve Months
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInNextTwelveMonths
1496000
CY2021Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Next Twelve Months
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInNextTwelveMonths
1117000
CY2021Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Two
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearTwo
797000
CY2021Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Two
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearTwo
387000
CY2021Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Three
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearThree
66000
CY2021Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals Due In Year Three
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentalsDueInYearThree
133000
CY2021Q4 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
2514000
CY2021Q2 lrn Lessee Operating Leases Future Minimum Payments Due Future Minimum Sublease Rentals
LesseeOperatingLeasesFutureMinimumPaymentsDueFutureMinimumSubleaseRentals
2359000
CY2021Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
9368000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8341000
CY2020Q4 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
155000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
862000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
273000
CY2021Q4 us-gaap Lease Cost
LeaseCost
15112000
CY2020Q4 us-gaap Lease Cost
LeaseCost
13943000
us-gaap Lease Cost
LeaseCost
28313000
us-gaap Lease Cost
LeaseCost
24236000
CY2021Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
5341000
CY2020Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
5199000
us-gaap Operating Lease Payments
OperatingLeasePayments
10662000
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
299271000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
410674000
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
299271000
us-gaap Operating Lease Payments
OperatingLeasePayments
10364000
CY2021Q4 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
7724000
CY2020Q4 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
5786000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
14744000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
11455000
CY2021Q4 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
6898000
CY2020Q4 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
30111000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
20881000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
46865000
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
6805000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
589000
CY2021Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M7D
CY2020Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M2D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M23D
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y9M21D
CY2021Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0240
CY2020Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0249
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0276
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0276
CY2021Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
113331000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
9326000
CY2021Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7398000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
410674000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Requisite Service Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1
P4Y
CY2021Q4 lrn Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable After Expiration Of Option Term Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableAfterExpirationOfOptionTermNumber
0
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8749000
lrn Operating Lease Right Of Use Asset Obtained From Acquisition
OperatingLeaseRightOfUseAssetObtainedFromAcquisition
1280000
lrn Finance Lease Right Of Use Asset Obtained In Exchange For New Finance Lease Liabilities
FinanceLeaseRightOfUseAssetObtainedInExchangeForNewFinanceLeaseLiabilities
20881000
lrn Finance Lease Right Of Use Asset Obtained In Exchange For New Finance Lease Liabilities
FinanceLeaseRightOfUseAssetObtainedInExchangeForNewFinanceLeaseLiabilities
46865000
CY2020Q4 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
382911000
us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
762518000
CY2020Q4 us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
38461000
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
lrn Stock Based Compensation Expense Capitalized On Software Development
StockBasedCompensationExpenseCapitalizedOnSoftwareDevelopment
143000
lrn Stock Based Compensation Expense Capitalized On Software Development
StockBasedCompensationExpenseCapitalizedOnSoftwareDevelopment
127000
lrn Stock Based Compensation Expense Capitalized On Curriculum Development
StockBasedCompensationExpenseCapitalizedOnCurriculumDevelopment
57000
lrn Stock Based Compensation Expense Capitalized On Curriculum Development
StockBasedCompensationExpenseCapitalizedOnCurriculumDevelopment
96000
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
464000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
11120000
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
2157000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
31450
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
16.58
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P0Y9M25D
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
437037
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
15025
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
16.36
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
1000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
31.73
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15425
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
15.80
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y25D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
270328
CY2021Q4 lrn Deferred Employer Social Security Payroll Tax Paid
DeferredEmployerSocialSecurityPayrollTaxPaid
7050000.00
us-gaap Business Acquisitions Pro Forma Income Loss From Continuing Operations Before Changes In Accounting And Extraordinary Items Net Of Tax
BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax
51347000
CY2020Q4 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
24723000
us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
38159000
us-gaap Interest Paid Net
InterestPaidNet
3286000
us-gaap Interest Paid Net
InterestPaidNet
1176000
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
13099000
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
568000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
69376000
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
42000
CY2020Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Liabilities
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities
5584000
CY2021Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Deferred Revenue
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesDeferredRevenue
1084000
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
0001558370-22-000430-index-headers.html Edgar Link pending
0001558370-22-000430-index.html Edgar Link pending
0001558370-22-000430.txt Edgar Link pending
0001558370-22-000430-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
lrn-20211231.xsd Edgar Link pending
lrn-20211231x10q.htm Edgar Link pending
lrn-20211231x10q_htm.xml Edgar Link completed
lrn-20211231xex31d1.htm Edgar Link pending
lrn-20211231xex31d2.htm Edgar Link pending
lrn-20211231xex32d1.htm Edgar Link pending
lrn-20211231xex32d2.htm Edgar Link pending
lrn-20211231_cal.xml Edgar Link unprocessable
lrn-20211231_def.xml Edgar Link unprocessable
lrn-20211231_lab.xml Edgar Link unprocessable
lrn-20211231_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
R59.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