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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) is set to discuss its first quarter fiscal year 2022 financial results on October 19, 2021, at 5:00 p.m. ET. Interested parties can join via a live webcast or by dialing in to the conference call. The event will provide insights into the financial performance and future outlook of the company, known for its innovative education solutions across primary, secondary, and post-secondary settings. A replay will be available from October 19, 2021, until November 19, 2021.
Wisconsin Virtual Academy (WIVA) is introducing Career Exploration classes for 8th graders across Wisconsin, focusing on personalized learning opportunities. The initiative aims to engage students in career fields such as teaching, business, health science, and IT through project-based learning. This approach will build essential skills like teamwork and communication, setting students on a path toward their future careers and potentially reducing college tuition costs. WIVA is part of Stride, Inc., which offers tuition-free online education programs.
Tech Elevator is hosting a free virtual roundtable, 'Women In Tech', on September 28 during Tech Week 2021 in Cleveland. This event aims to empower women in the tech industry by providing insights from top female leaders from companies like KeyBank and Sherwin-Williams. Tech Elevator, acquired by Stride, Inc. (NYSE: LRN) in 2020, has helped over 2,000 graduates secure tech roles, boasting a graduation rate of 95% and a job placement rate of 90%. The roundtable will feature discussions on career journeys and leadership.
Stride, Inc. is enhancing its Criminal Justice and Community Services career pathways to foster diversity and equity in law enforcement careers. As per the U.S. Bureau of Labor Statistics, jobs in criminal justice are expected to grow by up to 31% in the next decade. New coursework will include Cybersecurity, Sociology, and Human Services, benefiting over 3 million students. The initiative aligns with Stride's commitment to address systemic inequities by offering $10 million in scholarships for Black students and promoting diverse educational perspectives.
Cascade Virtual Academy and Insight School of Oregon expand Career Prep options for middle and high school students, enhancing their exposure to various career fields such as business and IT. This initiative allows high school students to earn college credits while still studying, potentially saving on tuition costs. The program aims to provide valuable insights into career opportunities, assisting students in finding their future paths. The schools are part of the Stride Company (NYSE: LRN) online public charter system, offering tuition-free education.
K12 Private Academy has launched a dual enrollment program that offers over 500 online college-level courses to eligible high school students. This initiative aims to address disparities in access to higher education, particularly for students from low-income backgrounds, as the national student debt crisis reaches $1.7 trillion. Starting in fall 2022, students can pursue 20 associate degree pathways in high-demand fields such as computer science and health sciences. The program allows high schoolers to earn college credits that count toward their GPA and graduation.
The latest survey from Stride, Inc. (NYSE: LRN) reveals significant challenges for employers in the allied health sector. 75% of employers report finding it harder to fill positions compared to pre-pandemic times, with 95% maintaining or increasing salaries. The demand for skilled professionals is rising, yet two-thirds of employers receive fewer applications than before. 97% believe that recent certifications are crucial for hiring, presenting a unique opportunity for job-seekers to thrive in this growing field.
Stride, Inc. (NYSE: LRN) has launched the Stride National Photography Competition with the theme My Community, open to K-12 students nationwide starting September 13, 2021. Participants can showcase their communities through photography, with winners selected for each grade level and an overall champion. Prizes include glass-etched trophies, framed photos, and $150 Amazon e-gift cards for first place winners. The contest runs until October 29, 2021, with winners announced live on Facebook on November 15, 2021. This initiative highlights Stride's commitment to engaging students and fostering creativity.
Stride, Inc. (NYSE: LRN) has launched the inaugural Stride Innovation Challenge in partnership with The Nature Conservancy, inviting high school students across the U.S. to propose solutions for pressing environmental issues. The challenge, themed 'My Planet, My Neighborhood,' encourages students to identify local, national, or global environmental challenges and submit innovative solutions online by November 30, 2021. Winners will be announced in April 2022, with prizes ranging from $100 to $1,000 in Amazon gift cards.
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