Stride Names New CEO as Preliminary Results Show Profit Surge
Stride expects fiscal 2026 net income of $338.2 million, up 17.5%, in preliminary results issued alongside a surprise change atop the company.
Stride (LRN) tied preliminary fiscal 2026 results to a leadership change at the top of the company, naming board member Robert Knowling as chief executive effective July 29, 2026, replacing James Rhyu after five years as CEO and more than 13 years with the company.
The online education provider issued the preliminary figures ahead of its formal annual report, a disclosure format it did not use in the prior quarter. The numbers arrived alongside the CEO transition rather than through a standard quarterly release.
Stride expects fiscal 2026 revenue of $2,518.1 million, up 4.7% from $2,405.3 million in fiscal 2025. Net income is expected at $338.2 million, up 17.5% from $287.9 million, while adjusted EBITDA is set to rise 8.2% to $617.6 million from $571.0 million.
Income from operations is expected to climb 25.2% to $450.8 million, well ahead of the 6.9% increase in adjusted operating income to $498.4 million. The gap between the two profit measures traces to a $59.5 million impairment of long-lived assets that weighed on fiscal 2025 results and did not recur in fiscal 2026, inflating the GAAP growth rate relative to the adjusted figure.
The governance overhaul extended beyond the CEO seat. Steven Fink moved from lead independent director to board chair, and Brian Shepherd, the former president and chief executive of CSG Systems International, joined the board effective July 29, 2026, taking seats on the Compensation and Audit Committees.
Stride's formal 10-K filing will follow with final audited figures, but the preliminary release set the market's first look at both the company's profit trajectory and its new leadership under Knowling.