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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.
Grand Canyon Private Academy (GCPA) has announced open enrollment for its 2022-2023 school year, targeting students in grades K-10 in Arizona. With plans to expand to K-12, GCPA will provide personalized education and career-focused electives from 7th grade. The academy aims to address educational gaps, especially given that over 85,000 job openings in Arizona require less than a bachelor's degree. GCPA's curriculum is provided by Stride, Inc. (NYSE: LRN), emphasizing a blend of academic and practical learning.
Career Academy of Utah (CAU), a newly-established virtual charter school, has appointed Dr. Bonita Teasley as Head of School. With over 20 years in public education, Dr. Teasley aims to enhance student learning and compliance through a collaborative approach. CAU, part of the Stride Career Prep program, offers career-prep classes and the opportunity for students to earn college credits while still in high school. Enrollment is now open for Utah students in grades K-9, with plans for expansion to 12th grade in future years.
Arkansas Virtual Academy (ARVA) has been recognized as the top public high school in Arkansas for offering iCEV industry certification classes. In collaboration with notable organizations, ARVA students earned 89 certifications and completed over 700 in total, enhancing career readiness. Industry certifications, aligned with real-world standards, significantly improve students' academic performance and career prospects. Enrollment for the 2022-2023 school year is now open, providing families with access to a tuition-free, online public education.
Stride, Inc. (NYSE: LRN) reveals that as the school year begins, only 55% of parents support public education, with 45% favoring private schooling for their children. A survey indicates 50% of parents would opt for virtual schooling due to ongoing COVID-19 concerns. Key worries include safety, with 54% concerned about gun violence in schools and 81% desiring more transparency on school activities. Stride's K12 platform reports over two million students opting for at-home education, with 80% of parents pleased with the outcomes.
As parents prepare for the upcoming school year in Texas, a survey by Stride, Inc. reveals significant concerns regarding public school safety and demands for alternative education options. About 42% of parents prefer private schooling, and 52% are likely to enroll their child in a virtual program. The survey highlights a 50% increase in violent threats and a 70% rise in disruptive behavior in schools since 2019, prompting 84% of parents to seek greater transparency in curricula. Stride promotes online learning as a safe and flexible alternative, with over 80% of K12 parents reporting positive educational experiences.
As the new school year approaches, a survey by Stride reveals over half (52%) of California parents prefer private schooling for their children. Additionally, 54% would consider exclusively virtual schooling due to ongoing COVID-19 concerns. Increasing worries about school safety are highlighted, with a reported 50% rise in violent threats in schools.
Moreover, 82% of parents feel a lack of transparency regarding school curricula. Despite challenges, over two million students have opted for online education with K12, a Stride company, indicating strong satisfaction with this format.
A new study reveals that graduates from K12-powered high schools outperform their brick-and-mortar counterparts in career readiness and confidence. Survey results show that 74% of K12 graduates feel optimistic about their career direction, compared to 56% of traditional school graduates. Additionally, 78% of K12 alumni believe they excel in their jobs, versus 46% from other schools. The findings support Stride's commitment to providing effective online education that prepares students for future success.
Stride, Inc. (NYSE: LRN) launched the third season of its podcast, “What I Want to Know with Kevin P. Chavous,” aimed at addressing pressing education topics. Season three features guests like Dr. Aaliyah Samuel and Dr. Barry Fishman, discussing social emotional learning and the impact of games on student outcomes. New episodes will be released weekly, and past episodes are available on major podcast platforms. The podcast emphasizes Stride's commitment to addressing educational equity and social challenges in the U.S.
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