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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.
Insight School of Kansas (ISKS) is set to start the 2021-2022 school year on August 25, offering tuition-free online education for grades 7-12. A recent survey by Stride, Inc. found that 91% of parents want multiple schooling options, with two-thirds considering online public schooling. ISKS offers personalized learning through state-licensed teachers, and students can participate in a Career Prep Program, potentially earning college credits.
Destinations Career Academy of Oregon, Cascade Virtual Academy, and Insight School of Oregon – Painted Hills have launched the 2021-2022 school year, offering full-time online education options. A survey indicates 91% of parents value multiple schooling options post-pandemic, with nearly two-thirds considering online schooling. Stride K12-powered schools reported lower learning loss rates compared to national studies. Students can earn college credits, and ORDCA offers a Career Prep Program for high school students. Enrollment for the current school year is still open.
iQ Academy of California – Los Angeles (IQLA) has commenced the 2021-2022 school year, providing personalized virtual education options for K-12 students across five counties. A Stride, Inc. survey reveals that 91% of parents prioritize diverse school options, with nearly two-thirds favoring full-time online schooling following pandemic experiences. IQLA boasts licensed teachers and a robust curriculum, reporting lower learning loss rates compared to national trends. High school students can also participate in the Career Prep Program, earning certifications and college credits.
Destinations Career Academy of Colorado (CODCA) begins the 2021-2022 school year, offering a full-time online public school for grades 6-12. CODCA aims to assist students in achieving academic goals and career readiness through programs such as the Career Prep Program. The school is tuition-free and part of the Colorado public school system. Following the pandemic, many parents now prefer online education, with 91% favoring multiple school options. CODCA continues to accept enrollments for the new school year, providing a flexible and supportive learning environment.
Kansas Virtual Academy (KSVA) is set to commence the 2021-2022 school year on August 25, 2021, offering a full-time, tuition-free online education. A recent survey by Stride, Inc. indicates that 91% of parents value multiple schooling options, with two-thirds considering full-time online education. KSVA, powered by Stride K12, provides individualized learning, reporting lower learning loss rates compared to national trends during the pandemic. KSVA caters to students from kindergarten to sixth grade and is a part of the Kansas public school system.
Missouri Virtual Academy (MOVA), part of the Grandview R-2 School District, starts the 2021-2022 school year on August 24, 2021, offering a full-time, tuition-free online education option. A survey revealed that 91% of parents value multiple schooling options, with many considering full-time online education after their pandemic experiences. MOVA, staffed by certified teachers, reported lower learning loss than national averages and offers high school students access to a Career Prep Program and college credit opportunities. Enrollments for the new school year are open.
California Virtual Academies (CAVA) is set to begin the 2021-2022 school year on August 23, offering customized education for K-12 students. CAVA's teachers focus on individual learning, combating learning loss reported during the pandemic. In a recent survey, 91% of parents expressed the importance of school choices, highlighting CAVA’s role in providing versatile educational options. Enrollments are still open for families seeking this online public charter school experience, which is tuition-free. CAVA operates nine independent schools, leveraging curriculum from K12, a Stride Company (NYSE: LRN).
Ohio Virtual Academy (OHVA) is set to commence the 2021-2022 school year on August 23. As a full-time online public charter school, OHVA offers an individualized learning approach, addressing the challenges posed by the COVID-19 pandemic. The school has reported lower learning loss compared to national trends. A Stride survey indicates that 91% of parents value multiple schooling options, while nearly two-thirds would consider full-time online education post-pandemic. OHVA also provides career preparation programs and the opportunity for high school students to earn college credits.
Stride, Inc. (NYSE: LRN) has announced that CEO James Rhyu will participate in a virtual fireside chat at the BMO 2021 Technology Summit on August 25, 2021, starting at 1:00 p.m. Eastern Time. The event will include a live webcast accessible here. Additionally, Stride management will hold one-on-one meetings with institutional investors throughout the day.
Insight Schools of California (ISCA) is set to begin the 2021-2022 school year on August 23, providing online education for grades 9-12. The accredited school offers a personalized learning approach and reported lower learning loss rates compared to national averages during the pandemic. A Stride, Inc. survey reveals that 91% of parents value multiple school options, with many considering full-time online programs. ISCA continues to accept enrollments, focusing on students needing support to graduate.
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