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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. announces the return of its podcast series What I Want to Know with host Kevin P. Chavous. The second season addresses critical topics in education, including bullying, access, equity, and non-college pathways. Chavous aims to explore pressing questions affecting learners post-pandemic and will feature guests from diverse educational backgrounds. Since its launch in April 2021, the podcast has gained over 30,000 downloads and highlights significant shifts in learning due to COVID-19. New episodes will be released weekly on major platforms.
Stride, Inc. (NYSE: LRN) is launching the Changing the Game Academy in St. Petersburg to provide blended learning for underserved youth. This initiative will cover tuition for 100 students at K12 Private Academy for the 2021-22 academic year. The program aims to address educational inequities exacerbated by the pandemic, offering social support and a trauma-informed curriculum. Class sizes will be limited to 10 students to ensure social distancing. This initiative aligns with Stride's commitment to racial and socioeconomic equity in education, including a $10 million investment in scholarships.
Insight School of Minnesota (ISMN), part of the Brooklyn Center Community School District, is set to begin the 2021-2022 academic year on September 9, 2021. Families have shown preference for online learning, with 91% of parents recognizing the importance of diverse educational options. Despite concerns over learning losses during the pandemic, Stride K12-powered schools like ISMN reported less loss and even some gains. ISMN continues to accept enrollments, providing students with a supportive, flexible online learning environment tailored to their individual needs.
Idaho Virtual Academy (IDVA), a tuition-free public school program, is set to begin the 2021-2022 school year, offering students a consistent online education option. Over 90% of parents believe in providing various school options, and nearly two-thirds consider full-time online education following the pandemic. IDVA reports lower learning loss rates compared to national studies and aims to support students with personalized learning approaches. Enrollment is still open for the new school year, with resources available for families to track academic progress.
Minnesota Virtual Academy (MNVA), a tuition-free public school program, is set to begin the 2021-2022 school year on September 7, 2021. A recent survey revealed that 91% of parents see the importance of multiple school options, with many considering online education post-pandemic. MNVA offers a personalized online learning approach, reporting lower learning loss compared to national averages. Students can also participate in a Career Prep Program, potentially saving on college tuition. Enrollment is still open for this school year.
iQ Academy Minnesota (iQMN), a tuition-free public school program, has commenced its 2021-2022 school year, reaffirming its commitment to provide students with diverse educational options. A recent Stride, Inc. survey reveals that 91% of parents value multiple school options, with many considering full-time online education. Notably, iQMN reported lower learning loss rates compared to national averages during the pandemic. The school remains open for enrollment, aiming to support students with personalized learning experiences.
Passport Academy Charter School (PACS) in Pittsburgh begins its new school year on August 30, providing a tuition-free education for students aged 16 to 21 who have struggled in traditional settings. PACS offers a blended learning environment that combines online and in-person classes, responding to a significant demand for flexible education options post-pandemic. A survey by Stride, Inc. shows that 91% of parents believe in the importance of multiple schooling options. PACS is currently accepting enrollments for the 2021-2022 academic year.
Michigan Virtual Charter Academy (MVCA), part of the Hazel Park School District, has launched the 2021-2022 school year, providing a tuition-free online education option. A survey by Stride, Inc. reveals that 91% of parents value multiple school options, with many considering full-time online schooling post-pandemic. MVCA reports lower learning loss compared to national averages during COVID. The school is still accepting enrollments and offers a tailored learning experience aimed at helping students achieve their academic goals.
Insight School of Michigan (ISMI) begins the 2021-2022 school year on September 7, offering a full-time, tuition-free online education. A recent survey by Stride, Inc. indicates that 91% of parents support multiple school options, including online learning. ISMI aims to provide personalized education to combat 'COVID slide' learning loss, reporting lower rates of such loss than national averages. The school is still accepting enrollments, emphasizing its flexibility for students needing tailored learning environments.
Idaho Technical Career Academy (ITCA), a tuition-free public school program, is set to start its 2021-2022 school year on September 7, 2021. A recent survey by Stride, Inc. indicates that 91% of parents value multiple schooling options, with nearly two-thirds considering full-time online education. Despite the pandemic's 'COVID slide', ITCA's students experienced lower learning loss compared to national averages. ITCA offers a Career Prep Program for high school students, allowing them to earn college credits and explore various career paths. Enrollment is still open.
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