Stride, an education company that sells online schooling and curricula for pre-K through to high school students, has reported a net loss of $5.9 million for the first quarter of its 2022 fiscal year, ending 30 September 2021, compared to net income of $12.7 million reported for the first quarter of its 2021 fiscal year.

The Herndon, Virginia-based company reported first-quarter revenue of $400.2 million, up from $371 million reported for the first quarter of fiscal year 2021.

Stride’s chief financial officer Tim Medina said: “Driven by strong demand in career learning and the recovery in revenue per K12 enrolment, we expect to grow revenue and profitability this year compared to prior year. Our first quarter results and this guidance for the rest of the year demonstrates the confidence we have about our ability to sustainably address the underlying demand for high-quality online educational options. We believe this sets Stride up for continued long-term growth and expanding margins across our lines of revenue.”

Date published: 26 October 2021

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