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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 (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.
Stride, Inc. (NYSE: LRN) is launching its eSports Summer Camp, aiming to enroll at least 10,000 students aged 13 and older in an online program from June 24 to August 13. In collaboration with Gamer Sensei, students will develop leadership and teamwork skills while engaging in popular games like Fortnite and League of Legends. The initiative highlights the growing eSports audience, projected to reach 656 million by 2023. The free program is part of Stride’s summer offerings that also include a variety of academic courses.
Tallo has partnered with Tidelands Health to award $1,000 scholarships to six graduating high school seniors pursuing Health Science degrees in fall 2021. This initiative, now in its third year, aims to support future healthcare workers in South Carolina. Tallo CEO Casey Welch highlighted the importance of community health workers, while Tidelands Health's student program coordinator Caitlyn Krask emphasized the organization's commitment to community well-being. The scholarship recipients are from various local high schools, reflecting Tallo and Tidelands' dedication to uplift local families through education.
Friendship Public Charter School Online (FPCSO) will host its 2021 eighth-grade graduation ceremony virtually on June 19th at 11 a.m. Celebrating the achievements of 39 graduating students, FPCSO emphasizes its commitment to consistent instruction during the year. The tuition-free online program, available to K–8 students in the District of Columbia, combines personalized online lessons with certified teacher support. With a curriculum that includes a variety of subjects and extracurricular activities, FPCSO aims to help students realize their full potential.
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