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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. has opened enrollment for the 2022-2023 school year for its new online faith-based education option, FaithPrep California, in California. This K-12 program utilizes Stride's comprehensive learning platform, focusing on core subjects with Christian values. A recent survey revealed that 66% of Christian parents are concerned about educational quality and 43% find public education misaligned with their values. Stride aims to enhance students' academic and character development while offering live sessions and in-person activities at Faith Centers.
Stride, Inc. (NYSE:LRN) announces the opening of FaithPrep Florida, a new online, faith-based K-12 education option for students in Florida. As families seek quality education that aligns with their values, a recent study indicates that 66% of Christian parents are dissatisfied with public schooling. FaithPrep Florida offers a curriculum emphasizing core subjects and character development through Christian teachings. The program aims to provide a comprehensive online education experience, reinforcing Stride's commitment to personalized learning.
Stride, Inc. has launched the Entrepreneurship Resource Center for High School Students, providing essential tools and guidance for young entrepreneurs. The resource center includes tips, success stories, and access to the Gen Z Entrepreneurship Guide, aimed at enhancing real-world skills such as communication and problem-solving. The initiative addresses the growing entrepreneurial spirit among Gen Z, with 62% indicating intentions to start their own businesses. Stride's program integrates academic learning with real-world applications, ultimately preparing students for career success and potential college credit.
Stride, Inc. has announced the opening of enrollment for the 2022-2023 school year for FaithPrep Academy, a new online private, faith-based educational option designed for K-12 students. This program utilizes Stride's comprehensive learning platform, focusing on Christian character building. A recent study revealed that 66% of Christian parents are concerned about education quality, prompting demand for alternatives like FaithPrep. The school will offer a full curriculum across core subjects and career-oriented pathways, along with unique programs like Servant Learner™ for life skills development.
University of Phoenix has partnered with MedCerts, a Stride, Inc. company (NYSE: LRN), to enhance educational pathways in healthcare and IT. This collaboration aims to address workforce shortages by providing accessible certification training and degree opportunities. MedCerts offers various short-term certification programs, while the University provides a range of degree options. Key benefits include potential transfer credits for MedCerts courses, waived PLA fees, and a supportive pathway for learners to advance their education.
Tech Elevator has partnered with Niantic to offer a scholarship program aimed at 20 underrepresented individuals in the San Francisco Bay, Los Angeles, and Seattle areas. Recipients will receive a tuition-free coding bootcamp lasting 14 weeks, leading to a potential six-month apprenticeship at Niantic or with Tech Elevator's hiring partners. Applications are currently open for a program start on October 24, 2022. The initiative is part of a broader commitment to increase inclusivity within the tech workforce.
Stride, Inc. (NYSE: LRN) reported fiscal 2022 results showing strong performance with revenues of $1.69 billion, a 9.8% increase from the previous year. Career Learning segments saw remarkable growth, with a 60% rise in revenue, surpassing $400 million. Income from operations rose 41.8% to $156.6 million, and net income increased 49.9% to $107.1 million with diluted earnings per share reaching $2.52. Enrollment in Career Learning surged by 41.6% year-over-year, reflecting robust demand.
Stride, Inc. (NYSE: LRN) announced that Dr.
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