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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.
Hoosier Academy and Insight School of Indiana are set to launch the 2021-2022 school year on August 9, offering a full-time online education option. A Stride survey reveals that 91% of parents value multiple school choices, with many considering online education post-pandemic. Despite reported learning losses nationwide, Stride K12-powered schools like Hoosier and ISIN have demonstrated lower learning loss rates. Online learning provides an adaptable curriculum, catering to diverse student needs. Enrollment is ongoing for the new academic year.
Iowa Virtual Academy (IAVA), a tuition-free public school within the Clayton Ridge Community School District, is set to commence its 2021-2022 academic year on August 23, 2021. A recent survey by Stride, Inc. indicates that 91% of parents value diverse educational options, with a notable interest in full-time online and hybrid models due to pandemic experiences. Despite national learning loss trends, Stride K12-powered schools, including IAVA, reported lower learning loss rates, and some students even achieved learning gains. IAVA continues to accept enrollments for this school year.
Tennessee Virtual Academy (TNVA) will commence the 2021-2022 school year on August 9, offering a full-time online education option for students in Tennessee. Amid the ongoing impact of the pandemic, a survey by Stride, Inc. revealed that 91% of parents value multiple school options, with nearly two-thirds considering full-time online education. TNVA, supported by state-licensed teachers, provides a personalized curriculum aimed at minimizing learning loss. The academy is part of Stride, Inc. (NYSE: LRN), which has reported lower learning loss than national averages, addressing a notable concern from the pandemic.
Palo Alto Unified School District has partnered with Stride, Inc. (NYSE: LRN) to offer an innovative online learning solution for students from transitional kindergarten through 12th grade amid ongoing COVID-19 challenges. This collaboration will deliver a customized curriculum and teacher-led instruction during the 2021-2022 school year. Stride will support Palo Alto by providing educational services and training for parents, ensuring equitable access through translation features in 65 languages. This initiative aims to meet diverse learning needs and set a model for other districts.
The recent survey by Stride, Inc. highlights that over 60% of parents are hesitant to send their children back to school due to COVID-19 concerns, particularly with the Delta variant causing 83% of new cases. Many parents express a desire for online learning alternatives to mitigate health risks. Stride's educational programs have reportedly outperformed the national trend of learning loss. The survey notes that 67% of parents fear their child could contract or spread COVID, with urban parents more likely to support online-only options.
Indiana Gateway Digital Academy (INGDA), part of Clarksville Community School Corporation, begins its 2021-2022 school year offering a tuition-free online program for K-11 students in Indiana. With 91% of parents supporting diverse education options, INGDA emphasizes a personalized learning approach amidst a national trend of learning loss during the pandemic. Stride K12-powered schools, including INGDA, report lower learning loss rates. High school students can enroll in Career Prep Programs, earning certifications and college credits, while the academy remains open for new enrollments this year.
Indiana Digital Alternative School (INDA) is set to commence the 2021-2022 academic year for grades 9-12, offering a tuition-free online education. Staffed by licensed teachers, INDA aims to support students' academic recovery post-COVID, reporting lower learning loss than national averages. The school provides a Career Prep Program for students to explore various fields and earn college credits. A recent survey shows 91% of parents desire multiple school choices, affirming INDA's initiative to empower students regardless of their backgrounds. Enrollment remains open for the current school year.
Arizona Virtual Academy (AZVA) and Insight School of Arizona (ISAZ) are set to begin the 2021-2022 school year on August 4, offering full-time online education to Arizona students. A survey by Stride, Inc. indicates that 91% of parents value multiple schooling options, with nearly two-thirds considering full-time online education. Both schools reported lower learning loss rates compared to national averages during the pandemic. Additionally, ISAZ provides high school students with opportunities to earn college credits and participate in career prep programs.
Indiana Digital Learning School (INDLS) is set to commence the 2021-2022 school year on August 4, offering K-12 students a tailored, tuition-free education. INDLS, powered by Stride K12, aims to counter the 'COVID slide' with a rich curriculum and experienced teachers. Students can benefit from the Career Prep Program, which includes classes in various fields. A survey indicated that 91% of parents value school choice, highlighting the importance of individualized education. Enrollment is ongoing, and families can find more information at indls.k12.com.
Miami Virtual Program, Arizona (MVPAZ) is set to commence the 2021-2022 school year on August 3, providing full-time online education for grades 8-11. Head of school Bouchra Bouanani emphasizes the program's role in supporting students' growth. MVPAZ offers an array of opportunities, including a Career Prep Program that aligns with various career fields and the chance for students to earn college credits. A recent survey by Stride shows that 91% of parents support multiple schooling options, highlighting the increasing demand for online education following the pandemic.
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