Exhibit 99.1

K12 Inc. Reports Full Year Fiscal 2019 Revenues Increase 10.7% to $1.016 Billion

HERNDON, Va.--(BUSINESS WIRE)--August 6, 2019--K12 Inc. (NYSE: LRN), a technology-based education company and leading provider of online curriculum and online school programs for students in pre-K through high school, today announced its results for the fourth fiscal quarter and full fiscal year ended June 30, 2019.

Financial Highlights for the Three Months Ended June 30, 2019 (Fourth Quarter Fiscal Year 2019)

  • Revenues of $256.3 million, compared to revenues of $238.9 million in the fourth quarter of FY 2018.
  • Operating income of $2.7 million, compared to $9.9 million in the fourth quarter of FY 2018.
  • Net income attributable to common stockholders of $3.3 million, compared to $9.3 million in the fourth quarter of FY 2018.
  • Diluted net income attributable to common stockholders per share of $0.08, compared to $0.23 in the fourth quarter of FY 2018.

To supplement our financial statements presented in accordance with U.S. generally accepted accounting principles (GAAP), we are also presenting adjusted operating income (loss) and adjusted EBITDA. Management believes that these additional metrics provide useful information to our investors as an indicator of performance because they exclude stock-based compensation expenses. Non-GAAP Financial Highlights for the three months ended June 30, 2019 (Fourth Quarter Fiscal Year 2019) are as follows:

  • Adjusted operating income of $7.2 million, compared to $15.8 million in the fourth quarter of FY 2018.
  • Adjusted EBITDA of $25.4 million, compared to adjusted EBITDA of $33.5 million in the fourth quarter of FY 2018.

A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is provided below.

Financial Highlights for the Year Ended June 30, 2019

  • Revenues of $1,015.8 million, compared to $917.7 million for the full fiscal year of 2018.
  • Operating income of $45.5 million, compared to $25.5 million for the full fiscal year of 2018.
  • Net income attributable to common stockholders of $37.2 million, compared to $27.6 million for the full fiscal year of 2018.
  • Diluted net income attributable to common stockholders per share of $0.91, compared to $0.68 for the full fiscal year of 2018.

Non-GAAP Financial Highlights for the Year Ended June 30, 2019 are as follows:

  • Adjusted operating income of $62.2 million, compared to $46.4 million for the full fiscal year of 2018.
  • Adjusted EBITDA of $133.6 million, compared to $121.6 million for the full fiscal year of 2018.

A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is provided below.


The following information was filed by K12 Inc (LRN) on Tuesday, August 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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