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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. announces that nearly 50,000 Arizona students are now utilizing the state’s Empowerment Scholarship Account (ESA) program to access private education at no cost. Two online private schools, Grand Canyon Private Academy and FaithPrep Arizona, are now accepting enrollments for the 2023-2024 school year. These schools provide individualized curricula for students, allowing them to earn an education tailored to their needs. The ESA program offers approximately $7,000 per student, covering full tuition and materials. This initiative promotes equal access to quality education across urban and rural areas in Arizona.
Stride, Inc. (LRN) has partnered with MedCerts to provide eligible individuals with healthcare certifications and degree credits towards a
Stride, Inc. (NYSE: LRN) expands its educational offerings through a partnership with Never Whisper Justice, integrating film and documentary content into its curriculum to promote critical discussions on social justice and racial equity. This initiative aims to enhance learning experiences by incorporating digital media, providing teachers with ready-made materials to engage diverse student backgrounds. Stride continues to emphasize its commitment to educational equity with a $10 million investment in scholarships for underserved students. The new curriculum aligns with Stride’s broader goals of fostering inclusion in education.
The Jacobson Institute at Grand View University has partnered with MedCerts to enhance training and upskilling opportunities, addressing workforce demands. Individuals can complete a MedCerts certification program in as little as three months, leading to jobs in healthcare, IT, or business. With over 50% of current workforces needing reskilling, this partnership aims to create talent pipelines, connecting learners to employers. Dr. Lynn Burks, Executive Director of the Jacobson Institute, emphasized the importance of skills-based training. This collaboration aligns with Stride Inc.'s goal of enhancing workforce readiness through innovative education.
Maine Virtual Academy (MEVA) is now accepting enrollments for the 2023-2024 school year, offering tuition-free online education for grades 7-12 to Maine residents. MEVA is recognized by the Maine Charter School Commission and is staffed by licensed teachers. The academy promotes a personalized learning experience, addressing diverse student needs with a rich curriculum and ample support services, such as regular team meetings and on-demand tutoring. The school aims to create a safe, bullying-free environment while accommodating students' individual academic goals. More details are available on the school’s website.
Stride, Inc. (NYSE: LRN) announces a partnership between MedCerts and American College of Education (ACE) to offer college credit for MedCerts graduates. This collaboration allows MedCerts students to convert their certification courses into credits toward a four-year degree. More than 30 certifications are eligible, aiding pathways into in-demand fields such as registered nursing and healthcare administration. ACE, recognized as the #2 online college in America by Newsweek, emphasizes its commitment to creating career advancement opportunities. Graduates also gain access to ACE's affordable, accredited programs online.
Stride, Inc. (NYSE: LRN) reported strong second quarter fiscal 2023 results, boasting revenues of $458.4 million, up 11.9% from last year. The company achieved a net income of $50.7 million, reflecting a 20.7% increase year-over-year, with a diluted net income per share of $1.19. Enrollment stands at over 180,000, fueled by growth in Adult Learning and Career Learning segments. However, the six-month performance showed a drop in income and adjusted operating income compared to the previous year. The company raised its fiscal year 2023 revenue outlook to between $1.775 billion and $1.815 billion.
Stride, Inc. (NYSE: LRN) has launched Stride Tutoring, a national online tutoring platform aimed at addressing learning loss among students in grades 7-12. With all tutors being state-certified teachers, Stride Tutoring offers personalized, one-on-one academic support accessible from any location. The initiative seeks to counteract the educational impacts caused by the pandemic, which could lead to significant long-term financial losses in student performance. The platform allows for recurring sessions and includes features for schools to implement high-dosage tutoring during the school day.
Stride, Inc. (NYSE: LRN) has partnered with Southern New Hampshire University (SNHU) to offer a 20% discount on tuition for graduates of K12-powered schools. This initiative aims to alleviate the burden of student debt, currently over $1.7 trillion in the U.S. The partnership builds on a longstanding relationship, enhancing online educational pathways for eligible high school graduates. SNHU, serving over 170,000 students, offers more than 200 programs, focusing on affordability and accessibility in higher education.
Stride, Inc. (NYSE: LRN) has launched a 4-part webinar series titled My Career Connections to help high school students explore job opportunities with major employers. This initiative aims to connect students with over 50,000 potential opportunities, including internships and entry-level jobs. Participating companies include notable names like Wayfair, CVS Health, and Boeing. The first webinar is scheduled for January 24, featuring the U.S. Office of Personnel Management. Attendees will receive tool kits and guidance from Stride Success Coaches to enhance their job application skills and career preparation.
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