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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) is launching new resources and events for high school students to enhance their entrepreneurship skills during National Entrepreneurship Month. The initiative includes access to the Entrepreneurship Resource Center and the Gen Z Entrepreneurship Guide, providing tools and inspiration for student entrepreneurs. A national live event titled Boss Yourself: A Teenager's Guide to Entrepreneurship is scheduled for November 18, aiming to engage students in practical entrepreneurship discussions. Stride's programs also offer opportunities for students to earn college credits while still in high school.
Stride, Inc. (NYSE: LRN) reported Q1 fiscal 2023 results, showing revenues of $425.2 million, a 6.2% increase from Q1 2022. This growth was attributed to strong Career Learning enrollments and Adult Learning growth. However, the company faced a significant operating loss of $28.7 million, exacerbated by rising costs and increased hiring. The net loss was $22.7 million, with a diluted loss per share of $0.54. For FY 2023, Stride forecasts revenues between $1.71 billion and $1.79 billion, with adjusted operating income expectations of $160 million to $190 million.
Stride Esports and Dave & Buster's Entertainment (NASDAQ: PLAY) are launching live education nights in Las Vegas, aimed at engaging young gamers aged 8 to 25. The events will feature educational gameplay, with participants receiving a $20 gift card, subject to availability. Scheduled for October 21, 26, and 27, this collaboration intends to expand to more markets in 2023. The esports industry is projected to grow to $3 billion in 2022, highlighting significant opportunities for educational and career development within the sector.
Ohio Virtual Academy (OHVA) has been honored as a 2022 Cognia™ School of Distinction, one of only 96 recognized schools from over 1,500 eligible institutions. This recognition highlights OHVA's commitment to excellence in education, validated through a rigorous Accreditation Engagement Review. Established in 2006, OHVA is a full-time online public school serving K-12 students tuition-free across Ohio, providing a viable alternative to traditional schooling. OHVA aims to cater to diverse student needs, including those seeking a bullying-free environment or balancing academic pursuits with extracurricular activities.
Stride Inc. (NYSE: LRN) will discuss its first quarter fiscal year 2023 financial results during a conference call on October 25, 2022, at 5:00 p.m. ET. Investors can join via phone or listen to a live webcast. Those interested should dial in by 4:45 p.m. ET and use conference ID 4812941. A replay will be available from October 25 at 8:00 p.m. ET through November 25. Stride provides high-quality, tech-enabled educational solutions for K-12 and adult learners across the globe.
Tech Elevator, a prominent technology training provider, has appointed Lisa Sydney and Kevin Gadd as Campus Directors for its Philadelphia/Wilmington and Columbus campuses, respectively. The new appointments aim to enhance operations amidst the industry's rapid growth, driven by increasing demand for tech skills. CEO Anthony Hughes emphasized that tech-focused careers are expanding, with salaries in Philadelphia rising nearly 12% from 2021 to 2022. Tech Elevator has successfully placed over 3,000 graduates in software development roles across 750+ companies.
The Texas Virtual Academy at Hallsville (TVAH) has received its highest rating, a B, from the Alternative Education Accountability system. With nearly 5.4 million students in Texas, almost half are at risk of dropping out. TVAH offers tuition-free online education for grades 3-12, aiming to support at-risk students. Executive Director Kyla Pickrell expressed excitement about the progress while advocating for the inclusion of K-2 students. Families praise TVAH for its positive impact on student development and career-focused learning opportunities in various fields.
Stride, Inc. (NYSE: LRN) has partnered with Practice Server to launch a new esports tournament season for young gamers in the U.S. The tournaments will cater to participants aged 8 to 18, featuring popular titles like Minecraft, Fortnite, and Rocket League. Events will take place from October to December 2022, rewarding winners with prizes including hardware and game merchandise. The esports market is projected to reach $3 billion in 2022, with growing opportunities in education and scholarships.
Stride Inc. (NYSE: LRN) has confirmed its partnership with PACER's National Bullying Prevention Center for the 2022-2023 school year. This initiative aims to raise awareness about bullying, assisting over 200,000 enrolled students and their families with specialized resources. The partnership reflects a response to rising mental health issues among students exacerbated by the pandemic, as 82% of students aged 11-17 show signs of mental health conditions. Stride emphasizes creating a safe learning environment, providing access to comprehensive educational resources taught by credentialed teachers.
According to a recent study, parents perceive K12-powered online public schools as more transparent and aligned with their values compared to traditional brick-and-mortar schools. Key findings indicate that parents are 27 percentage points more likely to feel informed about their children's education, 20 percentage points more aligned with school values, and 30 percentage points more in control of their children’s learning. Dr. Tony Bennett emphasized the importance of parental involvement in education, while the survey highlights the growing preference for virtual school options.
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