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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.
Digital Academy of Florida (DAOF) is set to begin the 2021-2022 school year, offering a stable online education for K-12 students. With parents showing interest in multiple school options post-pandemic, 91% value full-time online learning. Notably, Stride K12-powered schools like DAOF have reported lower learning loss compared to national averages. Students can benefit from Career Prep Programs and AP courses, enabling them to explore careers and earn college credits. DAOF is still accepting enrollments for the current school year, providing flexible academic options.
Nevada Virtual Academy (NVVA) has opened enrollment for the 2021-2022 academic year, providing a full-time online education for grades 6-12. With a focus on student potential, NVVA offers dual credit opportunities in partnership with institutions like UNLV and Grand Canyon University. A recent survey shows 91% of parents value diverse schooling options, while nearly two-thirds are open to full-time online education post-pandemic. NVVA aims to support students through flexible learning environments and is committed to their academic and personal growth.
Alabama Virtual Academy (ALVA) is set to begin the 2021-2022 school year on August 10, providing an online education option for students in Alabama. Staffed by licensed teachers, ALVA aims to support students needing alternative educational pathways. The program has reported lower learning loss rates compared to national trends during the COVID-19 pandemic. A recent survey indicated that 91% of parents value multiple schooling options, with a significant number open to full-time online schooling after their pandemic experiences.
Oklahoma Virtual Charter Academy (OVCA) begins the 2021-2022 school year on August 10, offering a full-time online education for K-12 students in Oklahoma. With a focus on personalized learning, OVCA combines technology with a comprehensive curriculum led by certified teachers. Students can earn college credits in grades 11 and 12, providing early access to college courses. A recent survey indicates 91% of parents value multiple schooling options, with many considering full-time online education. OVCA is still accepting enrollments for the current school year.
Florida Cyber Charter Academy (FLCCA) is set to commence the 2021-2022 school year on August 10, providing a full-time online public school option for K-12 students in Florida. With the pandemic reshaping education, 91% of parents express the need for diverse schooling options, including online models. The academy boasts a supportive online environment conducive to academic success, catering to students' unique needs, and is currently accepting enrollments for the new academic year. FLCCA operates as a tuition-free school under the Florida public school system.
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.
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