Stride, Inc. (NYSE:LRN) Q3 2023 Earnings Call Transcript

Pat McIlwee: And switching gears. Last quarter, you mentioned some pilots for new products like the career platform, teacher development solutions. And today, you talked about launching the Learning Hub. Understanding that it’s still very early on. I just wanted to ask quickly if you could talk a little bit about how those pilots have been going.

James Rhyu: Yes. So we’ve run a series of pilots. As you mentioned, our career platform, our new career platform pilot over this past year, it went off. We learned a ton and I think we’re going to get some real good traction here in our next iteration this summer. I think it’s a space that we continue to be hugely bullish about. We continue to see huge need around — we continue to see select point solution products in the marketplace that I think are underserving the needs of high school kids. We think our end-to-end product can really, really fill a gap in the marketplace. And all the feedback that we’ve gotten through our pilots has only reinforced that. So I think that, that’s for us, at least very reinforcing, very positive and very validating.

We continue to also on other pilots, the Learning hub that I mentioned. We’ve run some select pilots for that product, again, got great feedback. We hear — we’ve heard superintendents, principles, educators, I’ll say there’s a need for a product like this in the marketplace. So again, pilots like that have been very validating. We’ve also run some other smaller pilots around products that may be less fanfare driven, but for our core services are pretty meaningful. We just launched a couple of weeks ago, a pilot actually is very exciting. That’s sort of essentially like a virtual world for our students. Today, everybody is talking about virtual reality and things like that, and it’s not even that. It’s just a — it’s a virtual space that our students can mingle and they can talk to each other and communicate and they can socialize, they can play eSports games and things like that.

And so that has gotten tremendous feedback as well. So, so far, at least, we’ve been very fortunate that most of the pilots that we’ve run, we’ve been able to learn a lot from and most importantly, have been very validating for us.

Operator: This concludes today’s Q&A session as well as today’s conference. Thank you so much for attending. You may now disconnect.