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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) has elected Joseph A. Verbrugge to its Board of Directors, effective August 5, 2022. Verbrugge, currently the Chief Commercial Officer at Sirius XM Holdings Inc., brings extensive experience in marketing, partnership development, and operations. His leadership is expected to benefit Stride and its shareholders as the company aims to enhance education solutions. Verbrugge holds degrees from the University of Michigan, Georgetown University, and the University of Oxford.
Stride Inc. (NYSE: LRN) will discuss its fiscal year 2022 financial results in a conference call on August 9, 2022, at 5:00 p.m. ET. Interested parties can join via a live webcast or by dialing in at 4:45 p.m. ET. The replay will be available from 8:00 p.m. ET on August 9 until 8:00 p.m. ET on September 9. Stride Inc. focuses on providing innovative tech-enabled education solutions and has served millions of learners globally.
Digital Academy of Texas (DATX) has opened enrollment for the 2022-2023 school year, providing a full-time online public school program for Texas students in grades 5-12. Sponsored by Texarkana Independent School District, DATX offers a standards-aligned curriculum supported by certified teachers, with a focus on career exploration through elective courses in high-demand fields. The program aims to address the need for accessible education, particularly as Texas faces over 310,000 job openings requiring less than a bachelor’s degree.
West Virginia Virtual Academy (WVVA) has appointed Cheryl Stahle as Principal, an experienced educator with a background in both physical and virtual classrooms. Enrollment is currently open for grades K-10, with plans to expand to 12th grade. Stahle, who has held leadership roles in educational design and standards reviews, expressed her excitement about providing quality education and career path opportunities for students. WVVA is a tuition-free online school, part of Stride, Inc. (NYSE: LRN), offering a curriculum tailored for West Virginia students.
Hoosier College and Career Academy, sponsored by Ball State University, is now enrolling students for the 2022-2023 school year. Catering to Indiana students in grades 7-12, the program offers a standards-aligned curriculum with a focus on career pathways. Students can earn industry-recognized certifications and participate in internships and apprenticeships, enhancing their educational prospects. With nearly 4,000 jobs requiring less than a bachelor’s degree in Indiana, Hoosier provides a tuition-free, online learning option aimed at preparing students for future success.
The Missouri Digital Academy (MODA) has opened enrollment for the 2022-2023 school year, providing a full-time online education for K-9 students. Sponsored by the Laquey R-V School District, MODA offers a standards-aligned curriculum led by Missouri-certified teachers. Students can also choose from career-focused electives in various high-demand fields. With 800K Missouri residents facing nearly $29 billion in student loan debt, MODA aims to strengthen students' educational prospects through its unique approach to virtual learning, powered by Stride, Inc.
Indiana Gateway Digital Academy (INGDA) announced a new Automation & Robotics pathway for grades 9-10, starting this fall, aimed at providing students with a competitive edge in technology careers. Funded by an Indiana 3E Grant, the program allows students to take classes at Ivy Tech Community College campuses. This initiative expands INGDA's offerings, which now include 12 career pathways. The online program is tuition-free and targets families seeking alternative education solutions. Enrollments for the 2022-2023 school year are now open.
Ohio Virtual Academy (OHVA), a leading online public school, reported unprecedented support for high school students' career and workforce development in the last school year. With over 11,000 work-based learning hours logged, OHVA helped students earn more than 180 recognized credentials and participate in notable career technical organizations. The school is introducing new career pathways in Natural Resources and Early Childhood Education for grades 9 and 10. OHVA is tuition-free, providing a flexible alternative to traditional education for families across Ohio.
Stride Inc. (NYSE: LRN) has been added to the S&P SmallCap 600 index effective July 5, 2022. This index serves as a benchmark for small-sized companies in the U.S. equities market, selected based on financial performance and market capitalization. Stride is recognized for its innovative and tech-enabled education solutions across various settings, including K-12, healthcare, and technology training. The company's diversified offerings aim to transform learning experiences for millions, making it a significant player in the education sector.
Stride, Inc. (NYSE: LRN) has appointed Donna Blackman as its new Chief Financial Officer, effective July 1, 2022, succeeding Timothy Medina, who will remain as a consultant. Blackman, previously the Chief Accounting Officer, has over two decades of experience in finance, including significant roles at BET Networks and KPMG. CEO James Rhyu expressed confidence in Blackman's capabilities to drive growth, particularly in career learning programs. Stride continues to innovate in education, delivering tech-enabled solutions globally.
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