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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.
Utah Virtual Academy (UTVA), an online public school for grades K-12, begins the 2021-2022 school year on August 18. Head of School Meghan Merideth emphasizes the academy's role in providing stability and maximizing educational outcomes post-pandemic. UTVA offers a Career Prep Program and a Cloud Computing pathway, enabling students to explore various career options and earn college credits while in high school. A Stride, Inc. survey indicates 91% of parents value multiple educational options, highlighting a growing preference for online learning.
Arkansas Virtual Academy (ARVA) is set to begin the 2021-2022 school year on August 18, providing K-12 students in Arkansas with a full-time online education option. A survey by Stride, Inc. indicates that 91% of parents value multiple school options, with many considering full-time online schooling after the pandemic. ARVA, powered by Stride K12, has reported lower learning losses compared to national averages during the pandemic, with some students achieving learning gains. Enrollments are still open for families interested in the program.
Chamberlain University and Stride, Inc. have partnered to create a unique program that guides high school students toward nursing careers. The initiative responds to the projected shortage of 500,000 nurses in the U.S. by 2030 and aims to diversify the nursing workforce. Stride’s Career Prep programs will offer relevant coursework, professional development, and job shadowing opportunities, while also enabling students to earn college credits. This collaboration emphasizes access to high-quality educational pathways in healthcare, supporting long-term workforce needs.
Cyber Academy of South Carolina (CASC) is set to start the 2021-2022 school year on August 18, offering a tuition-free online learning option for students statewide. A recent survey by Stride, Inc. indicates 91% of parents value multiple schooling options, with many favoring full-time online education post-pandemic. CASC, endorsed by The Charter Institute at Erskine, aims to combat the learning loss experienced during COVID-19, reporting better outcomes than national trends. High school students can participate in the Career Prep Program, earning college credits to reduce future tuition costs.
Destinations Career Academy of New Mexico (NMDCA) is set to commence the 2021-2022 school year, starting August 16. NMDCA provides a full-time online education for K-12 students, allowing for flexibility and advanced learning opportunities. High school students can engage in the Career Prep Program to earn college credits, potentially saving on tuition costs. A Stride, Inc. survey indicates 91% of parents value diverse educational options, with many considering full-time online programs after the pandemic. Enrollment for the new school year is still open.
Ohio Digital Learning School (ODLS) is set to launch its 2021-2022 school year on August 17, providing a safe and consistent education option for students in Ohio. A recent survey by Stride, Inc. reveals that 91% of parents value multiple school options, with two-thirds considering full-time online education. Despite concerns about learning loss due to the pandemic, Stride K12-powered schools, including ODLS, have reported lower rates of learning loss and even some learning gains. ODLS offers personalized online learning with state-licensed teachers, aiming to support diverse student needs.
North Carolina Virtual Academy (NCVA) has launched the 2021-2022 school year, providing a full-time, online public education option for K-12 students in North Carolina. With an emphasis on flexibility and a bullying-free environment, NCVA supports various student needs and offers Dual Credits through the Career & College Promise program, enabling high school students to earn college credits. A recent Stride, Inc. survey shows that 91% of parents value multiple schooling options, including full-time online education. Enrollment for the current school year remains open.
Virginia Virtual Academy (VAVA) has commenced the 2021-2022 school year, providing online education for K-12 students across Virginia. With cautious optimism, parents recognize the benefits of online schooling, affirmed by a Stride, Inc. survey indicating that 91% value multiple educational options. VAVA offers a flexible learning environment designed to accommodate various student needs. The academy remains open for enrollments, encouraging families to explore their tuition-free educational options through Stride's platform.
Texas Virtual Academy at Hallsville (TVAH) is set to commence the 2021-2022 school year on August 16, offering tuition-free online education for grades 3-12. A recent survey by Stride, Inc. reveals 91% of parents value diverse school options, with two-thirds considering full-time online schooling post-pandemic. TVAH, supported by licensed Texas teachers, aims to combat learning loss, reporting improved student outcomes compared to national averages. High school students can join the Career Prep Program, gaining certifications and college credits. Enrollments are still open for interested families.
Enrollment is open until August 30 for the IUOE Local 49 high school pathway program in partnership with Minnesota Virtual Academy. The program offers online courses for grades 9-12, preparing students for careers in the heavy equipment industry. Students can earn college credit and attend a hands-on event at the IUOE Training Center on October 9. Now in its second year, the program has successfully transitioned students into the IUOE Apprenticeship Program. The initiative secured $100,000 from state lawmakers to support school districts with costs related to student enrollment.
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