Stride Inc (NYSE: LRN) is an online education company that operates virtual and blended public schools, tuition-based private online schools, and career learning programs for K-12 and adult learners across the United States. Revenue is generated primarily through per-pupil public school funding, under contracts where Stride provides a comprehensive school-as-a-service offering and absorbs operating losses when school funding falls short of costs incurred. Founded in 2000 and headquartered in the U.S., Stride served 89 schools in 31 states and the District of Columbia in General Education, and 56 schools or programs in 27 states and the District of Columbia in Career Learning during the 2024-2025 school year. A smaller Consumer Sales segment offers tuition-based private online schools, including programs accessible through education savings accounts and vouchers. Adult learners are served through the Galvanize, Tech Elevator, and MedCerts brands, acquired in 2020, which deliver training in software engineering and allied healthcare to consumers and enterprises.

Revenue model

Stride earns revenue through per-pupil public funding allocated to virtual and blended charter schools it operates under school-as-a-service contracts, through tuition from private online schools, and through consumer and enterprise sales of adult career training programs. Under public school contracts, Stride is responsible for substantially all school operating expenses and absorbs losses when funding falls short.

Products and services

Products and services include General Education K-12 curriculum delivered online, Career Learning programs for middle and high school students targeting IT, healthcare, and business pathways, post-secondary adult learning programs (Galvanize, Tech Elevator, MedCerts), stand-alone digital content and online courses licensed to schools and districts, and physical learning kits and computers provided to enrolled students.

Customers and end markets

Primary customers are public school boards and school districts that contract for the school-as-a-service model. Secondary customers are families purchasing tuition-based private online schooling, including international students from expatriate families. Adult learner customers include individual consumers and enterprises purchasing career training. End markets are K-12 public education, K-12 private education, and workforce training in technology and allied healthcare.

Value-chain role

Stride sits between state education funding systems and enrolled students, acting as a managed-service operator of virtual and blended schools. It develops curriculum, employs teachers, delivers instruction via internet platforms hosted on AWS and Azure, and ships physical learning materials and computers to students through a third-party logistics vendor operating a single warehouse facility.

Geographic exposure

Primarily United States. General Education schools operated in 31 states and the District of Columbia during the 2024-2025 school year. Career Learning schools or programs operated in 27 states and the District of Columbia. International private school enrollment serves expatriate families studying in English.

Source: SEC 10-K, filed 2025-08-06

Industry: Services-Educational Services Peers: Covista Inc Chegg Inc Coursera Inc Duolingo Inc Graham Holdings Co Grand Canyon Education Inc Laureate Education Inc Strategic Education Inc Udemy Inc