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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.
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.
South Carolina Virtual Charter School (SCVCS) will accept enrollment applications starting March 15, 2021, for the 2021-2022 school year. This tuition-free online school offers a rigorous curriculum and support from state-certified teachers, catering to students from K-12. With over 70% of U.S. parents favoring online education post-pandemic, SCVCS provides an alternative for athletes and advanced learners, promoting individual learning styles and career readiness in fields such as healthcare and IT.
Stride, Inc. (NYSE: LRN) has launched two new initiatives, the Stride Nursing Club and Stride Industry Chats, aimed at helping middle and high school students explore in-demand careers. These virtual programs provide insights from industry experts across various fields, including healthcare and technology. With a growing nursing workforce projected to expand through 2029, the Nursing Club offers monthly seminars for participants to engage directly with professionals. Registration for both initiatives is free, supporting Stride's mission to bridge educational gaps and prepare students for future careers.
Idaho Virtual Academy (IDVA) is now accepting enrollments for the 2021-2022 school year, offering a tuition-free online education for students in Idaho. IDVA provides a personalized learning experience with state-licensed teachers and a curriculum designed for diverse educational needs. Emphasizing the importance of consistent education during the pandemic, the school offers an online platform that supports students' academic goals in a safe, engaging environment. For more information, visit idva.k12.com.
Washington Virtual Academies-Omak (WAVA) is now accepting enrollments for the 2021-2022 school year. As a tuition-free online public school in Washington, WAVA offers a personalized learning experience supported by state-licensed teachers. The academy caters to K-12 students seeking alternative educational pathways, with a focus on advanced learning and a bullying-free environment. Parents are invited to attend online information sessions to learn more about enrollment and available resources.
Texas Virtual Academy at Hallsville (TVAH) is accepting enrollment applications for the 2021-2022 school year. This tuition-free online public school, part of the Hallsville Independent School District, caters to students in grades 3-12. TVAH offers an interactive curriculum, career preparation through Stride Career Prep, and college-level courses in partnership with The University of Texas of the Permian Basin. All classes are taught by Texas-licensed teachers, ensuring a high-quality education tailored to individual learning needs.
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