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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.
South Carolina Virtual Charter School (SCVCS) will host its graduation ceremony for the Class of 2021 on June 3, 2021, at Segra Park, celebrating over 380 graduates, the largest cohort since its inception. Honorable Molly Spearman, South Carolina's Superintendent of Education, will deliver the commencement address. SCVCS offers an online public charter school experience, serving students K-12 with a curriculum in core subjects and dual credit courses. The school operates under Stride, Inc. (NYSE: LRN), providing tuition-free education.
The Pikes Peak Online School (PPOS) and Colorado Preparatory Academy (CPA) celebrated their graduates with an online commencement ceremony on May 28, 2021. PPOS graduated 200 students, and CPA graduated over 140 students. A safe, socially distant in-person ceremony was held, allowing individual recognition for each graduate. Graduating students have been accepted to various colleges, including Colorado State and the University of Northern Colorado. The ceremony emphasized the resilience of these online schools during the pandemic, as they maintained continuous instruction throughout the school year.
Stride, Inc. (NYSE: LRN) announced that CFO Tim Medina will participate in a virtual fireside chat at the William Blair 41st Annual Growth Stock Conference on June 3, 2021, starting at 3:20 p.m. E.T. In addition, Stride management will hold one-on-one meetings with institutional investors that day. Stride is a leader in tech-enabled education, providing solutions to learners in K-12, higher education, and professional settings. The company aims to transform education and has served millions of learners across all 50 states and over 100 countries.
Tallo has partnered with the North America Scholastic Esports Federation (NASEF) to create the largest virtual network of young esports talent in the nation. This collaboration allows NASEF's 1,500+ clubs to connect with Tallo's nearly 1.5 million users, offering opportunities to showcase skills, access career guidance, and connect with employers. The partnership follows NASEF's consolidation with HSEL and MSEL, enhancing career pathways in STEM/STEAM through esports. Students can now build professional profiles and earn digital badges, bolstering their visibility to potential employers.
Stride, Inc. (NYSE: LRN) is launching free Stride K12 Virtual Summer Camps for students in grades 6-12 to combat learning deficits from the pandemic and provide career exploration. The camps, running from June to August, cover various subjects including math, coding, and nursing. Notable offerings include high school credit courses in Algebra, career skills camps, and specialized sessions in entrepreneurship and eSports. A study shows 65% of U.S. parents seek summer learning options, highlighting a market opportunity for Stride.
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