LRN · 10-Q · 2026Q1 · Full report

Liquidity and Cash Position

Stride, Inc. · 2026-04-29 · Importance 43 · Surprise 6

As of March 31, 2026, Stride reported net working capital of $1,475.6 million, including cash and cash equivalents of $614.1 million and accounts receivable of $854.9 million. Accounts receivable balance fluctuates seasonally and tends to be highest in the first fiscal quarter when the company begins billing for students, and cash and receivables were significantly in excess of accounts payable and short-term accrued liabilities at quarter end. The company states that operating cash generation combined with net working capital on hand provide a significant source of liquidity and it believes these sources will be adequate to finance ongoing operations both short-term and long-term. This liquidity position supports continued school-as-a-service operations and near-term funding of instructional and technology investments.

Key facts

• As of March 31, 2026, Stride had net working capital of $1,475.6 million which included cash and cash equivalents of $614.1 million and accounts receivable of $854.9 million.
• Accounts receivable and cash were significantly in excess of accounts payable and short-term accrued liabilities at March 31, 2026.
• Stride's cash requirements consist primarily of day-to-day operating expenses, capital expenditures, interest on the Notes, office facility leases, capital equipment leases and other operating leases.
• Stride believes that funds to be generated from operations and net working capital on hand will be adequate to finance ongoing operations both short-term (next 12 months) and long-term (beyond next 12 months).