Welcome to our dedicated page for Stride news (Ticker: LRN), a resource for investors and traders seeking the latest updates and insights on Stride stock.
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) reported significant growth in its third fiscal quarter ending March 31, 2021, with revenues increasing to $392.1 million, up 52.5% year-over-year due to higher enrollments. Income from operations rose 165.9% to $38.6 million, while net income surged 171.8% to $23.8 million, resulting in diluted net income per share of $0.57. Cash and equivalents stood at $329.0 million, reflecting a robust financial position. The company raised its full-year revenue guidance to $1.525 billion to $1.530 billion.
Tallo, a leading online platform, has partnered with HOSA-Future Health Professionals for the fifth year to host virtual state-level competitive events, enhancing access for students nationwide. This collaboration allows participants to submit their projects digitally, ensuring a competitive and supportive environment. More than 630 events are scheduled this spring, leading to the International Leadership Conference in June. Tallo's commitment to connecting students with vital career opportunities is evident as it helps HOSA members develop critical skills amidst the evolving healthcare landscape.
Galvanize, a leader in software engineering and data science training, alongside its parent company Stride (NYSE: LRN), is allocating up to $1.8 million to enhance equity in the technology workforce through the We Stand Together Scholarship. This initiative aims to address the underrepresentation of Black individuals in STEM fields, where they represent only 9% of the workforce. The Spring 2021 scholarship recipients have been announced, each receiving full tuition for immersive bootcamps, emphasizing the commitment to inclusivity in tech. Applications for the next scholarship round opened on April 19, 2021.
The Indiana Digital Alternative school (INDA) launches today, providing a new online high school aimed at credit recovery for Indiana students facing graduation challenges. Accepting enrollments for grades 9-12 for the 2021-2022 school year, INDA is part of the Union School Corporation's network. The school offers a flexible curriculum, career prep classes, and a supportive online environment. INDA is tuition-free and enables students to access tools from K12, a Stride Company (NYSE: LRN). Families can find more information and enrollment details at www.indls.k12.com.
Nepris is launching the 'You Give, We Give' campaign during National Volunteer Month to support underserved communities. The campaign offers a year of free access to its platform for a school in need and $7,500 in donations to nonprofit organizations focusing on career opportunities. Nepris has connected over 500,000 students with industry professionals, emphasizing the importance of real-world career exposure. Partner organizations include CodeHouse, IFT, and MCVMA, all aimed at increasing diversity and opportunity in various fields.
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).
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