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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.
MedCerts partners with Equus Workforce Solutions to enhance training for healthcare and IT apprentices. Since 2009, MedCerts has helped over 25,000 individuals gain certifications. This collaboration aims to enroll 60 career seekers into registered apprenticeship programs by September, focusing on high-demand occupations across various states including Louisiana and Texas. The partnership leverages Equus's employer connections to facilitate internships and job placements, strengthening workforce development in critical industries.
The Iowa Virtual Academy (IAVA) is now accepting enrollment applications for the 2021-2022 school year, offering a tuition-free online education for students in grades K-12. IAVA provides an alternative to traditional schooling with a personalized curriculum and state-licensed teachers. Students can engage in core subjects and electives while enjoying a supportive learning environment. The open enrollment deadline is March 1, 2021, with additional resources available for families. IAVA operates under the Clayton Ridge Community School District and utilizes a curriculum provided by K12, a Stride company (NYSE: LRN).
Stride, Inc. (NYSE: LRN) has appointed Dr. Jodi Marshall as Senior Vice President of K12 Learning Solutions to enhance online education partnerships amid rising demand. With over 20 years of experience, including leading Florida Virtual School with $220 million in revenues, Marshall aims to improve academic outcomes and student engagement. Recent surveys show over 70% of parents support continuing online education post-pandemic. This strategic move reflects Stride's commitment to providing innovative, tech-enabled education solutions to meet evolving educational needs.
Destinations Career Academy of Wisconsin (WIDCA) and Wisconsin Virtual Academy (WIVA) are accepting enrollments for the 2021-2022 academic year. Both schools offer tuition-free, full-time online education options for Wisconsin students, staffed by licensed teachers. WIDCA enrolls students in grades 9-12 and focuses on career readiness, offering programs in various sectors like Health and IT. WIVA serves K-12 students and provides a personalized alternative learning environment. Families can find more information and enrollment details on their respective websites.
Maine Virtual Academy (MEVA) is inviting enrollments for the 2021-2022 academic year, offering a tuition-free online education to students in grades 7-12 across Maine. MEVA is known for its personalized learning approach and is staffed by state-licensed teachers. The academy provides a safe, alternative education that caters to various student needs, including those seeking advanced learning or a bullying-free environment. Families can learn more about enrollment and upcoming events through online information sessions and the MEVA website.
Stride, Inc. (NYSE: LRN) has announced that two students from its Stride K12-powered schools were awarded the Silent Servant Award by The Peter R. Marsh Foundation. This award honors high school students nationwide who demonstrate selfless community service. The recipients include Dominique Belasquez, who created face masks during the pandemic, and Mason Rake, who refurbishes computers for veterans. The award aims to inspire student-servants and recognizes their contributions to society.
Stride, Inc. (NYSE: LRN) announced the retirement of CEO Nathaniel A. Davis, who will continue as Executive Chairman. James J. Rhyu, previously with Stride for eight years in various roles, has been appointed as the new CEO. Under Davis's leadership, Stride achieved over 65% annual revenue growth and improved student engagement. Rhyu, with extensive experience in strategic and financial management, aims to enhance Stride's educational offerings. The Board ensured a seamless transition to further advance Stride's mission of providing quality education.
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