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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.
Florida Cyber Charter Academy (FLCCA) will celebrate its graduation ceremony on June 3rd, 2022, at 2 PM in Tampa, FL, with approximately 100 students graduating. The academy recorded a graduation rate of over 93%, surpassing the state average. The event will feature keynote speaker Travis Hill, a retired Colonel from the Air Force. FLCCA offers a comprehensive online curriculum for K-12 students, providing a tuition-free public school alternative.
Stride, Inc. (NYSE: LRN) is launching a free Esports Summer Camp across seven Boys & Girls Clubs in the U.S., starting in June. This program aims to engage children from age eight with Stride's esports platform, offering gameplay and learning opportunities from professional coaches. Each two-week session includes activities like Minecraft Design, Scratch Coding, and Esports Skills Coaching. All members can participate at no cost, enhancing in-club experiences and introducing competitive esports tournaments.
Digital Academy of Florida (DAOF) celebrated its first commencement on June 2, 2022, graduating approximately 246 students. In its third year, DAOF, a virtual learning program, offers diverse career pathways for grades 7-12, including Business Management and Technology. Graduates have received acceptances from notable institutions such as the University of Central Florida and Georgia Tech. The event highlighted the achievements of the top five students, showcasing DAOF's commitment to student development and success.
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