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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.
Webber International University has announced a corporate workforce initiative offering non-degree asynchronous online career training programs in healthcare and information technology, powered by MedCerts. This partnership aims to enhance educational opportunities for Webber students and Polk County residents, providing a pathway to acquire specialized skills in high-demand fields.
The programs, starting August 1st, will offer credentials and certificates in high-skill, high-wage areas. They are designed to accommodate working adults and allow local businesses to partner with Webber for employee training. This initiative demonstrates Webber's commitment to preparing students for successful careers and strengthening the state's workforce through both degree programs and short-term educational opportunities.
Indiana Tech has formed a partnership with MedCerts, an online training provider specializing in certifications for allied healthcare and IT. This collaboration allows students who have completed MedCerts certifications to transfer up to 30 credit hours toward Indiana Tech degree programs. The initiative aims to provide a streamlined and supportive educational pathway, recognizing diverse learning experiences and making higher education more affordable. Both institutions emphasize the creation of a comprehensive educational ecosystem to empower students and meet the demands of today's job market. This partnership is noted as the largest Credit for Prior Learning (CPL) collaboration for MedCerts to date.
Hack Reactor, a Stride company (NYSE: LRN), has announced a new consumer experience aimed at streamlining career transitions into technology. This update includes more comprehensive content offerings and educational resources to help land software engineering jobs. Hack Reactor, which boasts over 14,000 alumni employed at more than 2,500 companies, offers two core programs: an Intermediate Coding Bootcamp for fast-tracked software developer training and a Beginner Coding Bootcamp for those new to coding. Both programs incorporate AI proficiency using GitHub Copilot. CEO Jaime Matayas emphasized the ongoing enhancement of all Hack Reactor programs. Visit the revamped website for additional details on programs, admissions, and alumni stories.
Stride (NYSE: LRN) has been awarded the Remote Learning Solution Provider of the Year by EdTech Breakthrough, highlighting their excellence in education technology. Stride, a leading provider of tech-enabled education, offers personalized and career-focused virtual learning to students, schools, the military, and enterprises across primary, secondary, and postsecondary levels.
Chief Learning Officer Niyoka McCoy emphasized the company's commitment to accessible online education. Stride’s K12-powered schools deliver a robust online K-12 curriculum, including public and private schooling options, homeschooling materials, tutoring, and Career and Technical Education pathways. The award underscores Stride’s success in leveraging technology to provide high-quality, equitable education.
The EdTech Breakthrough Awards recognize achievements in various categories, including Student Engagement, School Administration, Adaptive Learning, STEM Education, Remote Learning, and Career Preparation. This year, the program received thousands of nominations from over 17 countries.
MedCerts and Lifework have announced a partnership to enhance Allied Health education. Lifework will now offer MedCerts' short-term online and blended learning programs, including courses for Professional Coder, Surgical Technologist, and Medical Assistant. These programs combine online interactive learning with in-person training to provide technical knowledge and practical skills. Frank Swiger, CEO of Lifework, and Craig Sprinkle, CEO of MedCerts, emphasized their commitment to providing state-of-the-art programs aligned with national credentials and in-demand jobs. This partnership aims to meet the diverse needs of students and align with job market demands.
Tech Elevator, a Stride company (NYSE: LRN), has announced a full-tuition grant for its Part-Time Coding Bootcamp in Delaware, alongside its existing Full-Time, National Live Remote program. The initiative is in partnership with Tech Impact's Tech Hire Delaware, funded by the Delaware Workforce Development Board and Department of Labor. This aims to provide free career training for Delaware residents, promoting careers in software engineering, known for economic mobility, competitive salaries, and job flexibility. Over 3,500 students have graduated from Tech Elevator, with 150 educated through Tech Hire Delaware. Applications are open to Delaware residents who meet specific eligibility criteria.
Destinations Career Academy of Colorado (CODCA), a tuition-free online public school, has obtained NCAA approval for its core curriculum, benefiting elite student athletes in Colorado who opt for digital learning. Student athletes at CODCA can balance their rigorous training schedules with academic success, thanks to the school's flexibility and opportunities. The approval means students no longer have to choose between education and athletics, setting them up for a bright future.
MedCerts and Mott Community College have formed a new partnership to enhance Allied Health training, offering innovative online programs to students. MCC becomes the first community college in Michigan to collaborate with MedCerts, providing training for Medical Scribes and EKG Technicians. The programs feature a hybrid format combining online coursework with hands-on training, aimed at meeting the demands of the healthcare industry.
Tech Elevator, a leading technology training provider under Stride, Inc. (NYSE: LRN), announced the recipients of its Represent Tech Scholarship program, including Michelle Hanna. To date, over $1M has been committed to providing underrepresented groups access to tech education. Hanna, a scholarship recipient, aims to transition from a front office manager to software development in the food service industry.
Wisconsin Virtual Academy (WIVA), a virtual tuition-free public school, has earned accreditation from Cognia, showcasing its commitment to educational excellence. The accreditation recognizes WIVA's high-quality instruction, personalized programs, and focus on student preparation for post-school life. By meeting rigorous standards set by Cognia, WIVA demonstrates its dedication to delivering top-tier education to students across Wisconsin. The school offers various programs, including dual enrollment, AP courses, credit recovery, and AVID college readiness programs.
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