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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.
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.
Stride, Inc. (NYSE: LRN) has announced the inaugural recipients of the We Stand Together College Scholarship, awarding up to $250,000 to support higher education for 22 students across 10 states. Notably, two recipients will receive $25,000 each to attend Historically Black Colleges and Universities. This scholarship program is part of Stride's larger $10 million initiative aimed at enhancing educational access for underserved learners. Selection criteria included academic achievement and financial need.
Stride, Inc. (NYSE: LRN) will discuss its fourth quarter and full fiscal year 2021 financial results in a conference call on August 10, 2021, at 5:00 p.m. ET. Investors can access the live call by dialing (833) 900-1536 (domestic) or (236) 712-2276 (international) starting at 4:45 p.m. The conference ID is 4979044. A replay will be available after the call and a webcast replay will be accessible for 30 days. The company offers innovative education solutions for K-12 and adult learners across 50 states and over 100 countries.
Stride, Inc. (NYSE: LRN) is tackling the issue of high school dropouts with its newly launched Stride Graduation Guarantee. This initiative guarantees eligible students enrolled in Stride K12-powered public schools a pathway to graduate, even if they age out of their current educational options. Stride will fund tuition at a private school or provide additional support until graduation. This measure aims to combat the dropout crisis, highlighted by a statistic that a student drops out every 15 seconds. Stride's schools reported lower learning loss rates during the pandemic compared to national averages.
Galvanize, a leading software engineering and data science training provider, has secured a Phase III SBIR IDIQ Contract from the U.S. Department of Defense, building on its Phase I SBIR contract from January 2020. This contract, worth nearly $60 million over five years, aims to enhance technical skills among service members through software development and data analysis training. Galvanize's collaboration with the Department of Defense highlights its role as a key education partner for military personnel, further solidifying its position in a digital landscape.
Stride, Inc. (NYSE: LRN) has launched new Stride-Powered School Alumni Services for over two million former students, offering discounted tuition, scholarship opportunities, and career exploration resources. The initiative aims to alleviate the burden of student debt, currently exceeding $1.7 trillion in the U.S. Collaborating with educational institutions and Tallo, alumni can build digital profiles to enhance career prospects. With a commitment to lifelong learning, Stride continues to support graduates in their educational and professional journeys.
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