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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.
Highpoint Virtual Academy (HVAM), an online public school in Michigan since 2016, will hold a virtual graduation ceremony on June 5th, 2021, celebrating nearly 60 graduates.
Notably, 12 students achieved a GPA above 3.5 and the class has been awarded nearly $500,000 in college scholarships.
HVAM students, learning through a robust online curriculum, have been accepted to various colleges including the University of Michigan and Texas Tech. The event will feature valedictorians Esraa Abukhadijeh and Zahra Awnallah, along with salutatorians Jared Cline and Lauren Stone.
Washington Virtual Academy (WAVA) will hold its virtual commencement ceremony on June 6th at 4:00 PM, celebrating 244 graduates, including 75 with Honors and nine Valedictorians. The graduating class has been accepted into various colleges, including the University of Washington and Western Washington University. WAVA provides a rigorous online curriculum and live virtual classes, offering a safe and personalized learning environment for K-12 students in Washington. This program is tuition-free as part of the state's public school system.
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