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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.
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.
Stride (NYSE: LRN) announces the launch of Job Shadow Week 2021 starting July 19, offering a free virtual event for middle and high school students to engage with professionals from diverse industries including Amazon, CVS, and NASA. A recent study shows that 65% of U.S. parents seek summer opportunities post-pandemic. The event aims to equip students with career insights and includes sessions on job-finding skills. Registration is open for students aged 13 and older.
Pikes Peak Online School (PPOS) is enhancing its curriculum by introducing career-focused courses for high school students in grades 9-12. Starting this fall, students will gain experience in various fields including Education, Hospitality, and Law Enforcement, designed with input from law enforcement experts. PPOS aims to prepare students for the job market while potentially reducing college tuition costs. Colorado's unemployment rate stands at 6.4%, emphasizing the need for such programs. PPOS is a tuition-free public school program and provides personalized online instruction to help students maximize their potential.
Stride Inc. (NYSE: LRN) has released its first ESG initiatives report, highlighting its commitment to equitable education and workforce readiness. The report outlines current initiatives and long-term goals based on frameworks like the SASB Education framework and UN SDGs. Key focuses include lifelong learning expansion, racial and socioeconomic equity, transparent governance, and sustainability. CEO James Rhyu emphasizes the importance of managing ESG risks and opportunities. Stride aims to support over 100,000 Career Prep school graduates, 200,000 adult learners, and one million K12 students achieving learning growth by 2030.
Destinations Career Academy of Colorado (CODCA) reported student success through improved teacher retention and graduation rates. Over the last five years, graduation rates rose nearly 10 percentage points yearly, achieving an 85.9% rate in 2019-2020, exceeding Colorado's 81.9% average. Teacher retention has remained above 90%, surpassing the national average of 84%. Students staying all four years at CODCA had a 90% graduation success rate. CODCA continues to offer robust career learning opportunities, including partnerships with community colleges for college credit.
Miami Virtual Program, Arizona (MVPAZ) is introducing career-focused courses for high school students starting this fall. Students can explore classes in IT, Health & Human Services, Business & Marketing, and Art, Audio/Visual Technology & Communications. With U.S. student loan debt exceeding $1.7 trillion, these courses offer a chance to earn college credits and gain valuable experience, potentially reducing college costs. MVPAZ serves grades K-11, aiming to address the skills gap in the workforce and providing personalized online instruction.
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