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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.
Destinations Career Academy of Georgia (GADCA) is now accepting enrollments for the 2022-2023 school year, targeting students in grades 6-8. This online public school, authorized by the State Charter Schools Commission of Georgia, aims to bridge the skills gap in the workforce. GADCA offers a standards-aligned curriculum from Georgia-certified teachers and hands-on learning through Stride Career Prep. The initiative responds to over 450,000 job openings in Georgia that require less than a bachelor’s degree, addressing high student loan debt impacting 1.6 million residents.
West Virginia Virtual Academy (WVVA) has announced enrollment for the 2022-2023 school year for grades K-10. Authorized by the West Virginia Professional Charter School Board, this full-time online program aims to eventually serve grades K-12. WVVA offers a standards-aligned curriculum facilitated by West Virginia-certified teachers, focusing on academic foundations and hands-on learning experiences. With over $7 billion in student loan debt among West Virginia residents, the academy addresses the need for educational support, aiming to prepare students for personal and professional success.
Marian University Preparatory School, launching in August, offers Indiana families a flexible, faith-based K-12 education option. In partnership with Stride, Inc. (NYSE: LRN), the school combines virtual and hybrid learning, adapting curricula to meet individual student needs. It serves grades 6-9 initially, with plans to expand annually. The program emphasizes mastery-based instruction by certified teachers and includes access to AP courses and community resources. Stride, Inc. has supported over 2 million K-12 learners nationally.
Indiana Digital Learning School (INDLS) is collaborating with Ivy Tech Community College to offer students access to the Indiana College Core (ICC) program. Students can earn up to 30 college credits, equivalent to a full year of college coursework, which can be transferred to any Indiana baccalaureate institution. This initiative aims to enhance students' educational pathways and reduce college costs. INDLS, a tuition-free online public school, is currently accepting enrollments for the 2022-2023 academic year.
Enrollment for the 2022-23 school year at Highpoint Virtual Academy (HVAM) is now open for Michigan students. The tuition-free online program supports students in grades K-12, offering flexible education options, including an Early Middle College program allowing for an additional year of study. Amid the COVID surge, many parents are considering online education as a viable option. HVAM, part of Stride, Inc. (NYSE: LRN), has extensive experience in online learning, providing engaging curricula to support academic and extracurricular balance.
In January 2023, over 50 families experiencing homelessness in Ohio applied for their children to attend Ohio Virtual Academy (OHVA), marking a threefold increase compared to previous years. Currently, OHVA supports more than 400 students statewide, representing nearly 4% of Ohio's homeless population. The surge in requests is attributed to the loss of pandemic-related support as the state transitions to post-COVID conditions. OHVA provides essential resources including technology and school supplies while actively seeking to amend laws for better access to food assistance for these families.
Tech Elevator has expanded its presence in Dallas by opening a new campus in Preston Center, enhancing access to its technology reskilling programs. The campus will provide a hybrid learning environment, combining online bootcamps with in-person support from career coaches. Over 2,000 students have successfully secured jobs through Tech Elevator, leading to a collective earnings increase of over $2.5 billion. The bootcamp boasts impressive metrics, including a 95% graduation rate and a 90% job placement rate within 180 days. Enrollment is now open for the May 2022 coding cohort.
Enrollment has opened for the 2022 school year at Michigan Virtual Charter Academy (MVCA), a tuition-free public school program of the Hazel Park School District. MVCA offers personalized online education for grades K-12, appealing to parents seeking alternative schooling options amid ongoing COVID challenges. With 12 years of experience, MVCA ensures a quality education in a bullying-free environment. The school is powered by Stride, Inc. (NYSE: LRN), a leading provider of K-12 online curricula. More details on enrollment are available at mvca.k12.com.
Enrollment is now open for the Arizona Virtual Academy (AZVA) and Insight School of Arizona (ISAZ) for the 2022-23 school year. These online public schools offer a career-focused education to students in grades K-12 across Arizona, emphasizing hands-on learning in fields like Business Management and IT. Amid ongoing COVID challenges, many parents are opting for online education. Both schools are tuition-free and provide an alternative to traditional schooling, accommodating diverse learning needs. Interested families can enroll through the Stride K12 mobile app or online.
Enrollment for the 2022-23 school year at Lonestar Online Academy in Roscoe, Texas is now open for students K-6. Amid a COVID surge, parents increasingly seek online education options. Littlest students require a safe learning environment, and LSOA offers virtual education tuition-free across Texas. The academy caters to athletes and advanced learners, providing a balanced academic and extracurricular experience. For more details on enrollment, visit lsoa.k12.com or the K12 mobile app.
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