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Stride, Inc. (NYSE: LRN) is a leading American online educational company that redefines traditional learning experiences through advanced digital learning platforms and technology. The company provides an alternative to traditional on-campus schooling by operating state-funded virtual charter schools across the United States. Stride's educational programs cater to K-12 students, offering a range of virtual classroom environments where interactions with teachers occur online, by phone, or in-person.
Stride's core business segments include Managed Public School Programs, Institutional, and Private Pay Schools and Other. The company has built substantial partnerships with various school districts, contributing significantly to its revenue through contractual agreements to deliver its curriculum programs. Stride's innovative approach has reached over 2,000 schools and school districts, delivering more than four million courses in the past decade.
The company is committed to providing a high-quality education that helps students thrive academically and prepare for post-secondary education and future careers. This commitment is reflected in their engaging curriculum, which is developed by master teachers, cognitive scientists, technologists, and interactive designers.
Recent Achievements and Financial Highlights
- Third Quarter Fiscal 2024 highlights include revenue growth and increased enrollment figures compared to the same period in the previous year.
- As of March 31, 2024, Stride reported cash and cash equivalents totaling $570.7 million, up from $545.5 million at June 30, 2023.
- Capital expenditures for the three months ended March 31, 2024, were $16.3 million, reflecting investments in capitalized software and curriculum development.
Current Projects and Partnerships
Stride continues to expand its footprint by entering new contracts and renewing existing ones with school districts. The company also focuses on enhancing its technology and curriculum to meet evolving academic standards and testing programs.
Products and Services
Stride offers a variety of learning solutions, including public school programs through K12 partner schools, blended school programs, and direct-to-family options. The company's services also extend to professional skills training in healthcare and technology for adult learners, along with staffing and talent development for Fortune 500 companies.
Outlook
Stride's outlook for the rest of the fiscal year remains positive, with an adjusted operating income forecast and a targeted revenue range. The company aims to continue its growth trajectory by focusing on quality education, innovative technology, and strong partnerships.
Stride Inc. (NYSE: LRN), a leading technology-based education company, has been named a finalist in three categories of the Tech Edvocate Awards. The company is recognized for its global EdTech contributions, professional development platform, and innovative gamification solution.
Stride's achievements include:
- Empowering over 3 million learners nationwide
- Offering a comprehensive K-12 curriculum
- Providing online public and private school options
- Developing the Stride Professional Development Center for educators
- Creating the Stride Meets Minecraft program, which delivers state-aligned lessons across 11 proprietary worlds
Niyoka McCoy, Chief Learning Officer at Stride, emphasized the company's commitment to delivering cutting-edge education solutions that benefit both students and educators.
Stride Inc. (NYSE: LRN) has announced the date for its first quarter fiscal year 2025 earnings call. The conference call is scheduled for Tuesday, October 22, 2024, at 5:00 p.m. eastern time (ET). Investors and analysts can participate in the live call by dialing (800) 715-9871 (domestic) or +1 (646) 307-1963 (international) and providing the conference ID number 8901384.
A live webcast of the call will be available at https://events.q4inc.com/attendee/118785460. Participants are advised to access the website at least 15 minutes before the call begins. Following the call, a replay will be posted on the same website for those unable to attend the live event.
Stride, Inc.'s K12 SUBS Program has won the Tech & Learning 2024 Back to School Award for Excellence in Secondary Education. This innovative program addresses the critical shortage of special education teachers in the U.S., where over 7.5 million students qualify for Individualized Education Plans (IEPs). With 65% of public schools reporting understaffing in this area, K12 SUBS provides a network of fully licensed, certified substitute special education teachers.
These educators offer essential services such as co-taught instruction, resource support, self-contained instruction, and one-on-one sessions. The program ensures uninterrupted educational support for students with disabilities, even during staffing shortages. Stride's K12-powered schools provide individualized education experiences and cutting-edge online K–12 curriculum, benefiting from over 20 years of research.
Stride, Inc. (NYSE: LRN) has been named the Best EdTech Company by the Global EdTech Awards, recognizing its pioneering efforts in accessible, personalized education solutions. This accolade highlights Stride's commitment to delivering flexible online learning experiences and career-centric education.
Stride's offerings include K12-powered schools with personalized education experiences, Stride Career Prep for high school students, and career development programs like Galvanize, Tech Elevator, and MedCerts for adult learners. The company has also recently received other notable awards, including 'Remote Learning Solution Provider of the Year' by EdTech Breakthrough and six Stevie awards for various innovative programs.
As a leading education company, Stride serves learners across primary, secondary, and postsecondary settings, providing a wide range of services in all 50 states and over 100 countries.
Stride Tutoring, a portfolio brand of Stride Inc. (NYSE: LRN), is addressing the growing demand for online tutoring with affordable, personalized services at $19.99 per session. The company reports a 200% surge in demand for online tutoring since the pandemic. To expand educational access, Stride Tutoring launched a giveaway offering one U.S. family a $10,000 education grant to be deposited into a 529 savings plan.
The company employs certified teachers and offers individualized support in subjects like math, science, and English. Stride Tutoring aims to help students maintain academic pace, catch up on missed material, or excel beyond expectations. The giveaway is open until September 30, 2024, for eligible U.S. parents with children in grades K-12.
Stride, Inc. has launched Road2Teach, a newly approved Transition to Teaching education preparation program in Indiana. This innovative program aims to prepare future educators with essential skills for classroom readiness. Key features include:
- Two non-degree-granting programs: Elementary Education (24 credits) and Secondary Education (18 credits)
- 12-week teaching internship with 10 weeks of full-time solo instruction
- Self-paced online coursework
- Access to Praxis study materials and practice exams
- Personalized support from candidate advisors and faculty
- Access to Stride Professional Development Center
Road2Teach offers flexibility for non-traditional adult learners and provides options for district, non-public, and charter schools. The first cohort starts on September 30, 2024, with applications now open.
Stride Inc. (NYSE: LRN) reported strong financial results for fiscal year 2024, with significant year-over-year growth. Key highlights include:
- Revenue increased 11% to $2,040.1 million
- Net income rose 60.9% to $204.2 million
- Diluted earnings per share grew 57.9% to $4.69
- Adjusted EBITDA improved 31.9% to $390.7 million
The company's General Education segment saw a 13.9% revenue increase, while Career Learning revenue grew 6.4%. Average enrollment across both segments increased by 9% to 194,300 students. Stride's strong cash position of $714.2 million as of June 30, 2024, positions it well for future growth.
Webber International University has announced a corporate workforce initiative offering non-degree asynchronous online career training programs in healthcare and information technology, powered by MedCerts. This partnership aims to enhance educational opportunities for Webber students and Polk County residents, providing a pathway to acquire specialized skills in high-demand fields.
The programs, starting August 1st, will offer credentials and certificates in high-skill, high-wage areas. They are designed to accommodate working adults and allow local businesses to partner with Webber for employee training. This initiative demonstrates Webber's commitment to preparing students for successful careers and strengthening the state's workforce through both degree programs and short-term educational opportunities.
Indiana Tech has formed a partnership with MedCerts, an online training provider specializing in certifications for allied healthcare and IT. This collaboration allows students who have completed MedCerts certifications to transfer up to 30 credit hours toward Indiana Tech degree programs. The initiative aims to provide a streamlined and supportive educational pathway, recognizing diverse learning experiences and making higher education more affordable. Both institutions emphasize the creation of a comprehensive educational ecosystem to empower students and meet the demands of today's job market. This partnership is noted as the largest Credit for Prior Learning (CPL) collaboration for MedCerts to date.
Hack Reactor, a Stride company (NYSE: LRN), has announced a new consumer experience aimed at streamlining career transitions into technology. This update includes more comprehensive content offerings and educational resources to help land software engineering jobs. Hack Reactor, which boasts over 14,000 alumni employed at more than 2,500 companies, offers two core programs: an Intermediate Coding Bootcamp for fast-tracked software developer training and a Beginner Coding Bootcamp for those new to coding. Both programs incorporate AI proficiency using GitHub Copilot. CEO Jaime Matayas emphasized the ongoing enhancement of all Hack Reactor programs. Visit the revamped website for additional details on programs, admissions, and alumni stories.
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