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Stride, Inc. reports developments tied to its technology-based education business, including financial results, earnings calls, and enrollment activity for online public and private school programs. The company operates through K12, a portfolio brand that powers virtual public schools, accredited homeschool curriculum, personalized tutoring, and related learning options.
Recurring company updates include state-by-state enrollment openings for tuition-free virtual public schools, teacher-led online instruction, career and technical education pathways, academic support programs, and high school diploma options. News also covers revenue, operating income, adjusted measures, enrollment definitions, and fiscal-year outlooks for Stride’s education platform.
Stride, Inc. has appointed Angela Williams as Senior Director of External Affairs. With a strong background in education policy, Williams will enhance the organization's outreach to policymakers and advocacy efforts. Known for her work on education choice and equality, she previously served in the Colorado legislature for a decade, where she championed equitable funding for public schools. Williams will collaborate with Stride’s national advocacy team, aiming to expand educational opportunities. This leadership change may strengthen Stride's positioning in the education sector.
Stride, Inc. (NYSE: LRN) reported a ransomware attack on its network, confirmed as a criminal act. The company quickly acted to contain the threat and is cooperating with federal law enforcement. Importantly, the attack did not affect the Learning Management System used by students, and all major corporate systems remain operational. Some student and employee information may have been accessed, prompting a payment to the attacker through cyber insurance to prevent data misuse. The company emphasizes the ongoing investigation and believes the incident will not materially impact its business or financial results.
K12 Inc. is rebranding to Stride, Inc. effective December 16, 2020, marking its expansion beyond K-12 education to lifelong learning. CEO Nate Davis emphasized the company's commitment to personalized education and career readiness. Stride serves nearly 165,000 students in K-12 and has added adult learning through acquisitions of Tech Elevator and MedCerts. The company anticipates nearly $1.5 billion in revenue for fiscal 2021, with career learning projected to generate approximately $250 million. A Virtual Investor Day is scheduled for November 18, 2020.
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.
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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.