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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) launches a new podcast titled "What I Want to Know with Kevin P. Chavous" aimed at addressing educational equity post-COVID-19. With 93% of American households engaged in online learning during the pandemic, the podcast discusses challenges and innovations in education. Host Kevin P. Chavous, a notable education advocate, invites industry leaders to share insights on creating effective learning environments, adapting educator skill requirements, and supporting students during economic recovery. The first three episodes are now available on major podcast platforms.
Stride Inc. (NYSE: LRN) will discuss its third quarter fiscal year 2021 financial results on April 20, 2021, at 5:00 p.m. ET. Investors can join the call by dialing (833) 900-1536 domestically or (236) 712-2276 internationally, with a conference ID of 1779113. A replay will be available from April 20 at 8:00 p.m. ET until May 20, 2021, and can be accessed via the same numbers. Stride focuses on transforming education through innovative tech-enabled solutions, serving learners in K-12 and adult education across the U.S. and internationally.
Galvanize, a subsidiary of Stride (NYSE: LRN), is expanding its Hack Reactor Professional Development courses to address the urgent need for upskilling among workers, as outlined in the World Economic Forum's Future of Jobs Report 2020. With 80% of employers aiming for rapid digitalization, these courses focus on critical skills like analysis and problem-solving. They are designed to fit into busy schedules, offering flexible, low-cost options. Notably, two-thirds of students benefit from employer tuition reimbursement, highlighting strong corporate support for continuous education.
Stride, Inc. (NYSE: LRN) reports that its K12 online schools show lower rates of learning loss compared to national studies during the pandemic, termed as the “COVID slide.” A new study indicates that most students in these schools maintained or improved their achievement levels in reading and mathematics. The study highlighted a significant difference in performance, with Stride students outperforming national averages by up to 27.7 percentage points in mathematics. Stride emphasizes that experienced online learning providers are essential during such challenging times.
Utah Virtual Academy (UTVA) invites students to enroll for the 2021-2022 school year after a transformative academic year. UTVA provides a comprehensive online education with a curriculum that includes core subjects and Advanced Placement® courses. High school students can also explore career paths through the Stride Career Prep program. Additionally, students can enroll full-time or take individual courses via the Statewide Online Education Program. UTVA emphasizes community through virtual clubs and offers a tuition-free accredited education, powered by K12, a Stride company (NYSE: LRN).
Tallo has announced a $10,000 scholarship for high school seniors affected by the pandemic, aiming to support those facing financial difficulties in pursuing higher education. The scholarship application is open until March 27, 2021, and requires a video submission detailing the pandemic's impact on the applicant's family. Special consideration will be provided to students with household income loss. Tallo, an online platform connecting students with opportunities, aims to help young people succeed regardless of their socioeconomic background.
Tech Elevator is expanding its educational offerings by opening a new campus in Dallas, a city recognized for its robust tech job market.
With a high demand for technology talent, the new campus aims to equip local residents with vital skills for in-demand careers. Tech Elevator boasts impressive outcomes, with a 95% graduation rate and a 92% job placement rate for its graduates.
The initiative is part of Tech Elevator's commitment to ensure that the local Dallas community has access to high-quality education and employment opportunities in technology.
Destinations Career Academy of New Mexico (NMDCA) invites students to enroll for the 2021-2022 academic year. This tuition-free, full-time online program serves K-12 students across the state, offering a standards-aligned curriculum delivered by certified teachers. NMDCA provides both academic and applied learning experiences in growing career fields such as programming and health services. The program allows flexibility for students to balance academics with extracurricular activities while participating in local athletic programs. Stride, Inc. supplies the curriculum, enhancing educational quality.
Ohio Virtual Academy (OHVA) has earned the Recognized ASCA Model Program (RAMP) designation, a top honor in school counseling. This achievement marks OHVA as the first Stride-powered school to receive this recognition, one of only five in Ohio and a few online schools nationwide. Dr. Kristin Stewart, OHVA Head of School, highlighted the dedication of the school's counselors in supporting over 20,000 online students, especially during the pandemic. This achievement reflects the implementation of the ASCA model over the past three years.
Stride, Inc. (NYSE: LRN) supports the Biden Administration's focus on reopening schools amid the pandemic, advocating for flexible learning options including online and hybrid education. CEO James R. Rhyu emphasized the company's commitment to meeting diverse educational needs and enhancing student achievement. A study indicated that parents reported 6.5 times more learning success in Stride's online programs. Stride continues to partner with districts nationwide to provide high-quality education solutions and is dedicated to lifelong learning, aiming to close educational gaps for underserved communities.
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