Edtech Companies — Annual Report Financials

Together, the 6 companies in this table reported $5.98B of revenue in their latest fiscal years. Stride, Inc. is the largest at $2.52B, or 42.1% of the table's combined revenue, and NERDY INC. the smallest at $179M.

Net margin (net income as a share of revenue) runs from 39.9% at Duolingo, Inc. down to −27.4% at CHEGG, INC. 3 of the 6 reported a net loss for the year.

Among the 4 companies that report research and development separately, R&D spending ranges from 29.5% of revenue at Duolingo, Inc. to 0.9% at Stride, Inc..

These are arithmetic on the reported figures above, nothing more: fiscal years can end on different dates, and a margin or a share says nothing about where a company is heading.

A sector still defined by how few of its companies are public. Those that are split between institutional providers and consumer platforms with quite different revenue recognition, and two-thirds disclose R&D separately — the rest fold product engineering into cost of services. Fiscal years cluster around the academic calendar rather than the financial one, so a June close here reflects a full teaching year, not a partial one.

The fiscal years in this table end up to 6 months apart, so two rows can describe different twelve-month periods. Each row states its own fiscal-year end for exactly this reason. 4 of 6 disclose research and development as a separate line; for the rest it is folded into other operating costs, so an empty R&D cell means “not separately disclosed,” never “not spent.” Figures were retrieved from EDGAR on 2026-10-11.

Each row comes from that company's latest annual report (Form 10-K) on SEC EDGAR, and the “Source filing” column links the exact submission, so any cell can be checked in one click.

Company selection is a size-and-coverage editorial choice among U.S.-listed 10-K filers in the sector, not a ranking, rating, or recommendation of any company. How every table is built and refreshed is set out once, on the verified data tables methodology.

These are the reported baselines — the questions that decide strategy (share shifts, pricing models, segment growth, what the filings say beneath the totals) are what our research briefs answer. Start with the Edtech research practice, or size the opportunity yourself with the market-size calculator.