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Stride , Inc. Announces Second Quarter Revenues Increased 46 % to $ 376.1 Million Total Enrollments of 191.5 Thousand , up nearly 60 % Year - over - year HERNDON , Va.- ( Business Wire ) — January 26 , 2021 — Stride , Inc. - formerly K12 Inc. ( NYSE : LRN ) , one of the nation's leading tech - enabled education companies , today announced its results for the second fiscal quarter ended December 31 , 2020 . Financial Highlights for the Second Quarter Fiscal 2021 compared with the Second Quarter Fiscal 2020 . • • • • • • Revenues of $ 376.1 million , compared with $ 257.6 million . The increase is due largely to increased enrollments . Income from operations of $ 38.5 million , compared with $ 30.3 million . Net income of $ 24.5 million , compared with $ 20.6 million . Diluted net income per share of $ 0.60 , compared with $ 0.52 . Cash and cash equivalents as of December 31 , 2020 of $ 258.1 million , compared with $ 212.3 million as of June 30 , 2020 . Adjusted operating income of $ 50.1 million , compared with $ 37.2 million . ( 1 ) Adjusted EBITDA of $ 70.7 million , compared with $ 53.7 million . ( 1 ) Second Quarter Fiscal 2021 Summary Financial Metrics Revenues Income from operations Adjusted operating income ( 1 ) Net income EBITDA ( 1 ) Adjusted EBITDA ( 1 ) Three Months Ended December 31 , 2020 2019 Change 2020/2019 $ % ( In thousands , except percentages ) $ 376,145 $ 257,559 $ 118,586 46.0 % 38,452 30,305 8,147 26.9 % 50,050 37,224 12,826 34.5 % 24,501 20,594 3,907 19.0 % 61,613 47,534 14,079 29.6 % 70,687 53,711 16,976 31.6 % Financial Highlights for the Six Months Ended December 31 , 2020 Compared to the Six Months Ended December 31 , 2019 ● Revenue of $ 747.1 million , compared with $ 514.7 million . Income from operations of $ 50.5 million , compared with $ 10.9 million . • Net income of $ 37.2 million , compared with $ 10.9 million . Diluted net income per share of $ 0.89 , compared with $ 0.27 . • Adjusted operation income of $ 73.1 million , compared with $ 24.1 million . ( 1 ) • Adjusted EBITDA of $ 109.9 million , compared with $ 57.0 million . ( 1 ) Six Months Ended December 31 , 2020 Summary Financial Metrics Revenues Income from operations Six Months Ended December 31 , 2020 747,105 50,516 2019 ( In thousands , except percentages ) 514,680 10,917 $ Change 2020/2019 232,425 39,599 E TIT Adjusted operating income ( 1 ) Net income EBITDA ( 1 ) Adjusted EBITDA ( 1 ) 73,059 48,958 26,303 37,167 24,101 10,864 91,954 45,293 46,661 109,921 56,992 52,929 % 45.2 % 362.7 % 203.1 % 242.1 % 103.0 % 92.9 %