Stride, Inc.

question during that time, simply press the star key followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one a second time. Thank you, and I would now like to turn the conference over to Tim Casey, Vice President of Investor Relations. You may begin.

Thank you, and good afternoon. Welcome to Stride's third quarter earnings call for fiscal year 2025. With me on today's call are James Rue, Chief Executive Officer, and Donna Blackman, Chief Financial Officer. As a reminder, today's conference call and webcast are accompanied by a presentation that can be found on the Stride Investor Relations website. Please be advised that today's discussion of our financial results may include certain non-GAAP financial measures. A reconciliation of these measures is provided in the earnings release issued this afternoon and can also be found on our Investor Relations website. In addition to historical information, this call will also involve forward-looking statements. The company's actual results could differ materially from any forward-looking statements due to several important factors as described in the company's earnings release and latest SEC filings. These statements are made on the basis of our views and assumptions regarding future events and business performance at the time we make them, and the company assumes no obligation to update any forward-looking statements. Following our prepared remarks, we will answer any questions you may have. Now, I'll turn the call over to James.

James? Thanks, Tim, and good afternoon, everyone. Well, another solid quarter as demand continues to outpace last year. I mentioned last quarter that the macro environment remains favorable, and some recent polling supports our thesis. A survey of parents compiled by the National School Choice Awareness Foundation earlier this year found that more than 60% of parents considered sending at least one of their children to a different school last year. And those, 27% considered sending their child to a full-time online program. Meaning over 15% of all families are considering a full-time online program. Now that is a much higher level than we saw just a few years ago. Also, a February Gallup poll indicated that less than a quarter of Americans are satisfied with public education. Now, that's the lowest level since the survey began in 2001. And nearly 90% of parents are interested in non-college degree pathways, meaning a focus on career education. All of this bodes well for our future prospects. Now, this is the time of year we are trying to both finish the year strong and gear up for the fall. If we continue to execute, and given the macro trends we're seeing, That should position us for continued strong growth heading into next fall. We also need to look past this fall. While we celebrate our 25th anniversary this year, we need to ensure we build an enduring business for the next 25 years. I believe we can continue to change the future of education by leveraging our core capabilities to deliver innovative, outcomes-driven solutions to the 50 million plus students across the country. Parents remain dissatisfied with the current state of education, and we are in a position to give schools, administrators, teachers, and students the tools to redefine the system and set ourselves up as leaders for the next 25 years. In the near term, the trends we see in market demand, in-year enrollment, and retention set us up for another strong start to the fall season. For context, since January 1, demand, as measured by in-year application volumes, has grown in each of the past four years. This year, application volumes are almost twice what they were two years ago and four times what they were four years ago. This is during a time when we have some constraints to the number of new enrollments we can add, as some schools have closed enrollment for the school year. I've been pleasantly surprised by this ongoing trend, and it supports our thesis that demand for our products and services continues to strengthen. So once again, we expect to finish the year with more enrollments than we started. We still have a lot of work to do before the next school year begins, but we feel confident in our ability to continue to grow enrollments in fiscal year 26. Thank you, and now I'll turn the call over to Donna. Donna?