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Exhibit 99.1 Stride Guides to Revenue and Profitability Growth for Fiscal 2022 Driven by Career Learning Demand HERNDON , Va .-- ( BUSINESS WIRE ) -- October 19 , 2021 -- Stride , Inc. ( NYSE : LRN ) , one of the nation's leading technology- based education companies , today announced its results for the first fiscal quarter ended September 30 , 2021 . First Quarter Fiscal 2022 Highlights Compared to 2021 • Revenue of $ 400.2 million , compared with $ 371.0 million , driven by improved revenue per enrollment , strong middle and high school Career Learning enrollments , and growth in Adult Learning . • Loss from operations of $ 7.0 million , compared with income from operations of $ 12.1 million , due to the return to normal seasonality in upfront school year expenses . • Net loss of $ 5.9 million , compared with net income of $ 12.7 million . • Diluted net loss per share of $ 0.15 , compared with diluted net income per share of $ 0.30 . • Adjusted operating income of $ 4.5 million , compared with $ 23.0 million . ( 1 ) • Adjusted EBITDA of $ 25.5 million , compared with $ 39.2 million . ( 1 ) First Quarter Fiscal 2022 Summary Financial Metrics Three Months Ended September 30 , Change 2021/2020 2021 2020 $ % ( In thousands , except percentages and per share data ) Revenues $ 400,226 $ 370,960 $ 29,266 7.9 % Income ( loss ) from operations ( 6,977 ) 12,064 ( 19,041 ) -157.8 % Adjusted operating income ( 1 ) 4,522 23,009 ( 18,487 ) -80.3 % Net income ( loss ) ( 5,883 ) 12,666 Net income ( loss ) per share , diluted ( 0.15 ) 0.30 ( 18,549 ) -146.4 % ( 0.45 ) -150.0 % EBITDA ( 1 ) Adjusted EBITDA ( 1 ) 17,170 25,456 30,341 ( 13,171 ) -43.4 % 39,234 ( 13,778 ) -35.1 % ( 1 ) To supplement our financial statements presented in accordance with U.S. generally accepted accounting principles ( GAAP ) , we also present non- GAAP financial measures including adjusted operating income , EBITDA and adjusted EBITDA . Management believes that these additional metrics provide useful information to investors relating to our financial performance . A reconciliation of these non - GAAP financial measures to the most directly comparable GAAP financial measures is provided below . Cash Flow and Capital Allocation As of September 30 , 2021 , the Company's cash and cash equivalents totaled $ 218.5 million , compared with $ 386.1 million reported at June 30 , 2021. The decrease is largely the result of normal seasonal expenditures incurred at the start of the school year . Capital expenditures for the quarter were $ 15.4 million , compared to $ 12.8 million in the first fiscal quarter 2021 , and were comprised of $ 1.3 million of property and equipment , $ 9.7 million of capitalized software development , and $ 4.4 million of capitalized curriculum development .