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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) announced that its accredited online schools, Ohio Virtual Academy (OHVA) and Ohio Digital Learning School (ODLS), received the Ohio Auditor of State Award for excellence in financial reporting and transparency. This marks the 2nd award for ODLS and the 7th for OHVA. These awards highlight the schools' compliance with fiscal regulations, boosting their credibility within the education sector. Additionally, both schools are celebrating their graduations this week, with OHVA on June 5 and ODLS on June 3.
Ohio Virtual Academy (OHVA) will host its in-person graduation ceremony this Sunday at the Celeste Center, celebrating over 1,000 graduates, including Salutatorian Kristen Griessmann. Amid the challenges of the pandemic, OHVA has reported improved testing scores in Math, ELA, Science, and Social Studies, contrasting with statewide declines. This event recognizes student perseverance during difficult times. A virtual graduation will also take place on June 30, 2022. For more details, visit OHVA's website or their Facebook page.
Iowa Virtual Academy (IAVA) will hold its graduation ceremony on
Virginia Virtual Academy (VAVA) will hold its graduation ceremony on June 4, 2022, at 2 PM in the Richmond Convention Center, celebrating approximately 170 graduates. The event highlights the academy's academic success, outperforming state proficiency levels in ELA, Math, and Science during the pandemic. Graduates have gained acceptance into universities like George Mason University and Georgia Southern University, while others pursue vocational training or military service. The ceremony will feature keynote speaker Dr. Nancy James and student speakers Elizabeth Baber and Violet Presley-Wolf.
The Ohio Digital Learning School (ODLS) will host its virtual graduation ceremony on June 3 at 11:00 AM and 6:00 PM. This year, students celebrated their achievements overcoming challenges due to the pandemic. Notably, at least two graduates utilized the College Credit Plus program to earn college credits while in high school. Graduates have been accepted into various colleges across Ohio, including Youngstown State University and the University of Toledo. ODLS offers a personalized learning environment for students in grades 9-12.
MedCerts, a leader in online healthcare and IT certification training and a subsidiary of Stride, Inc. (NYSE: LRN), has partnered with Goshen Health to address the shortage of frontline healthcare workers. This train-and-hire initiative offers a six-month training program for Medical Assistants and Medical Billing positions, fully funded by Goshen Health in exchange for a two-year commitment. Since its pilot launch in April 2021, eleven MedCerts-trained employees have been hired, reflecting a growing demand for medical assistants, projected to increase by 29% over the next decade.
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