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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.
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.
Alabama Destinations Career Academy (ALDCA) is preparing to begin the 2021-2022 school year on August 12, focusing on personalized, full-time online education. Amid the pandemic, 91% of parents expressed the need for multiple schooling options, with many considering online public schools. ALDCA has reported lower learning loss rates compared to national trends, offering students pathways in Health Sciences, IT, and Advanced Manufacturing through its Career Prep Program. The school is tuition-free and part of Stride, Inc., enhancing educational accessibility for Alabama families.
Texas Online Preparatory School (TOPS) is set to commence the 2021-2022 school year on August 12, providing a tuition-free online education for grades 3-12. With a focus on personalized learning, TOPS aims to support students in overcoming challenges such as learning loss due to the pandemic. The school offers a rigorous curriculum, career preparation programs, and opportunities for earning college credits. Recent surveys indicate a significant parental interest in online schooling options post-pandemic. Enrollments are still open for the academic year.
Stride, Inc. (NYSE: LRN) reported significant financial growth for the fiscal year ending June 30, 2021. Revenue rose to $1,536.8 million, a 47.7% increase from 2020, driven by heightened demand across all product lines. Net income surged 191.6% to $71.5 million with diluted earnings per share reaching $1.71. Fourth-quarter figures mirrored this trend, with revenues up 47.8% at $397.5 million. Cash and cash equivalents totaled $386.1 million, reflecting a solid liquidity position. The company anticipates providing an outlook for fiscal year 2022 in October 2021.
Insight School of Oklahoma (ISOK) is launching its 2021-2022 school year, providing a full-time online education for grades 6-12 across Oklahoma, starting August 10. A survey by Stride, Inc. revealed that 91% of parents value multiple schooling options, with two-thirds open to full-time online schooling. ISOK reports lower learning loss compared to national averages during the pandemic and offers a supportive learning environment. Enrollments are still open, and families can access the curriculum via Stride's mobile app.
Louisiana Virtual Charter Academy (LAVCA) is set to commence the 2021-2022 school year on August 11. Serving grades K-12, LAVCA offers a full-time online public school option aimed at supporting student growth and success. With the ability to earn college credits, LAVCA enables eligible students in grades 11 and 12 to take both high school and college courses, potentially saving on tuition costs. A recent survey by Stride, Inc. reveals that a significant majority of parents appreciate having multiple educational options post-pandemic.
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