Stride, Inc. - LRN STOCK NEWS

K12 Inc. (NYSE: LRN), set to become Stride, Inc. on December 16, 2020, has agreed to acquire MedCerts for $70 million in cash, enhancing its career learning solutions in healthcare. MedCerts, recognized for its online certification training with an 88% exam pass rate, has served over 25,000 students. This acquisition, expected to close in Q2 FY 2021, aims to address the healthcare industry's demand for skilled workers. Stride anticipates combined revenue contributions of $14 to $19 million for FY 2021 from both MedCerts and another acquisition, Tech Elevator.

K12 Inc. (NYSE: LRN), rebranding to Stride, Inc. on December 16, 2020, has announced its acquisition of Tech Elevator for $23.5 million in cash. This strategic move aims to enhance access to technology careers by expanding the company's student demographic and geographic reach. Tech Elevator boasts a 95% graduation rate and a 92% job placement rate, with revenues of approximately $11 million, representing a 47% year-over-year increase. The acquisition is projected to positively affect Stride's fiscal 2021 revenue, although its impact will be moderated by purchase accounting adjustments.

Galvanize announces the opening of a new campus in Dallas in January 2021, responding to the demand for software engineering education in the area. This new facility aims to provide in-person access to bootcamp programs, complementing the popularity of their remote offerings. The Dallas campus will coincide with the launch of its Hack Reactor immersive program, designed to prepare students for tech careers. Galvanize, a subsidiary of K12, Inc. (NYSE: LRN), supports career progression in technology, having already trained over 8,000 graduates who find roles in leading companies.

Tallo introduces its web-based app, Ping, in South Carolina, connecting students and job seekers with employers and educational institutions through virtual events. The app is free for users and allows them to match based on interests and qualifications. Upcoming events include the College Application Month Wrap-Up Fair on November 10, a Virtual Healthcare Job Fair on November 17, and an HBCU fair on November 19, providing direct access to colleges and job opportunities. Tallo has facilitated over 13,000 connections, highlighting its growth and impact in workforce development.

The Miami Virtual Program, Arizona (MVPAZ), has launched as an online public school for K-10 students, beginning classes on October 19. The program, part of the Miami Unified School District, aims to provide safe educational options amid the pandemic. MVPAZ features a robust curriculum with live classes taught by state-certified teachers. Enrollment is ongoing, welcoming students statewide. This initiative seeks to address parents' concerns for safe learning environments, aligning with a national survey where two-thirds of parents prefer keeping brick-and-mortar schools closed until deemed safe.

Lone Star Online Academy at Roscoe (LSOA) has launched as a new online public school in Texas, targeting K-5 students. Operated by the Roscoe Collegiate Independent School District, LSOA offers a comprehensive and safe educational experience with live virtual classes and a robust curriculum covering core subjects and electives. The initiative aims to provide families with high-quality education during a challenging school year. Enrollment is open, with a focus on flexibility for students with various educational needs.

Tallo, a leader in virtual workforce talent development, has partnered with jobZology to enhance its platform. The collaboration integrates jobZology's career assessment tools into Tallo's system, utilizing predictive science and real-time data analytics to connect users with suitable job opportunities. With over one million users, Tallo aims to provide valuable insights into career paths, ensuring a better fit between individuals and their chosen careers. This partnership is particularly relevant as students reassess educational choices influenced by the COVID-19 pandemic.

K12 Inc. (NYSE: LRN) reported a robust performance for the first fiscal quarter of 2021, revealing revenues of $371 million, a 44.3% increase from the previous year. The company turned a net income of $12.7 million, compared to a net loss of $9.7 million in Q1 2020. Cash and cash equivalents reached $308.8 million, significantly up from $165.9 million a year earlier, partly due to a convertible debt offering. Enrollment grew 57.1% across its education segments, while adjusted EBITDA soared by 1096.2% to $39.2 million.