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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.
Enrollment has opened for the 2022-23 school year at Texas Virtual Academy at Hallsville (TVAH), a free online public school under Hallsville Independent School District. The academy emphasizes hands-on learning in various career fields, facilitating a blend of academic rigor and practical skills. Amid a surge in COVID cases, TVAH offers an alternative education option as more parents seek online solutions. Available for grades 3-12, TVAH aims to provide a safe learning environment tailored to students' needs, supported by K12 Inc..
Stride, Inc. (NYSE: LRN) has launched the Promising Practices Conference Series, hosting six online events aimed at affordable professional development for K-12 educators. With over 20 years of experience in virtual learning, Stride's initiative explores critical themes such as Career Readiness and Mental Health. The first event is free, followed by five additional sessions at
Stride Inc. has partnered with Old Spice and Never Whisper Justice to offer a free digital learning course aimed at over 200,000 students, 400 school districts, and 7,000 teachers nationwide. This initiative, following the Sundance premiere of the documentary BLACK BOYS, is part of Old Spice's commitment to enhance high school graduation rates in underserved communities by 10% over the next decade. The Frontlines of Justice eLearning platform will be utilized to improve educational outcomes and foster discussions on social justice and equity.
Stride, Inc. (NYSE: LRN) announces the launch of a part-time remote coding bootcamp through its subsidiary, Tech Elevator. Starting April 2022, the 30-week program provides a full-stack curriculum designed for working adults seeking career transition into tech. With a focus on flexibility, the bootcamp offers self-study, peer-learning, and instructor support. Tech Elevator boasts over 90% job placement within 180 days and an average salary increase of $24,000 for graduates. The initiative aims to improve access to tech careers amid the ongoing Great Resignation.
In a recent survey by Stride, Inc. (NYSE: LRN), 86% of school leaders recognize the value of online learning as a complement to traditional education. However, 69% express concerns about their readiness for effective online instruction. Nearly 44% believe hybrid learning will become the norm. Key barriers include universal broadband access, teacher training, and quality digital curricula. Administrators seek better support for teachers, engaging content, and customizable platforms, highlighting the ongoing demand for innovative solutions in education.
Enrollment for the 2022-23 school year is open at Maine Virtual Academy (MEVA), an online public school for grades 7-12 in Maine. Amid COVID-19 challenges, parents increasingly seek online educational options. Dr. Melinda Browne, Head of School, emphasizes MEVA's established reputation for high-quality education, free for Maine residents. The program offers an alternative to traditional schooling, promoting a bullying-free environment. Families can access information sessions and enrollment details via MEVA's website.
Stride, Inc. (NYSE: LRN) reported strong financial results for Q2 FY2022, with revenue of $409.5 million, up 8.9% from $376.1 million in 2021. Growth was driven by increases in Career Learning enrollments, especially in the middle and high school sectors. Net income rose to $42 million from $24.5 million, yielding a diluted EPS of $1.00. Despite overall revenue growth, revenue from General Education fell slightly. The company raised its full-year revenue forecast to $1.62 billion to $1.64 billion.
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