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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.
Career Academy of Utah (CAU) is now enrolling students for the 2022-2023 school year, targeting grades K-9. Authorized by Utah State University, CAU combines a standards-aligned curriculum with career-focused learning, preparing students for future educational and career success. With over 35,000 job openings requiring less than a bachelor’s degree in Utah, CAU provides critical options for students amidst rising student loan debt of nearly $10 billion in the state. The program is backed by Stride, Inc. (NYSE: LRN), a leader in online education.
West Virginia Virtual Academy (WVVA) has appointed Doug Cipoletti as Head of School. This new virtual charter school offers a tuition-free education for students in grades K-10, with plans to expand to 12th grade. Cipoletti, a native of West Virginia, brings extensive experience from the West Virginia Department of Education, including initiatives to improve career and technical education access. Enrollment is currently open, and WVVA promises a high-quality interactive curriculum delivered by certified West Virginia teachers.
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