- 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)