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LRN -9% despite beating Q4 estimates

Aug. 12, 2020 10:23 AM ETStride, Inc. (LRN) StockBy: Manshi Mamtora, CFA3 Comments
  • K12 (NYSE:LRN -9.0%) reports Q4 revenues of $268.9M (+4.9% Y/Y) driven by increased enrollments, the Galvanize acquisition, and revenue recognized on the resolution of claims related to prior period services.
  • Net income of $4.9M, compared to $3.3M last year.
  • Adjusted operating income of $12.9M vs. $7.2M prior.
  • Adjusted EBITDA of $32.2M, compared to $25.4M, excluding the impact from the acquisition of Galvanize, adjusted EBITDA would have been $39.3M.
  • Cash, cash equivalents, and restricted cash of $213.3M, a decrease of $71.3M due to K12’s $165 million, plus working capital, cash acquisition of Galvanize in January 2020.
  • Previously: K12 EPS beats by $0.27, beats on revenue (Aug. 11)

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