Profile: K12 Inc (LRN.N)
30 Jul 2015
K12 Inc. (K12), incorporated on December 28, 1999, is a technology-based education company. K12 offers curriculum, software systems and educational services designed to facilitate individualized learning for students primarily in kindergarten through 12th grade, or K-12. The Company provides a continuum of technology-based educational products and solutions to public school districts, public schools, charter schools, private schools and families. The Company managed public schools in 33 states and the District of Columbia, specifically: Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Louisiana, Massachusetts, Michigan, Minnesota, Nevada, New Jersey (Flex School only), New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin and Wyoming. The Company’s business lines include: Managed Public Schools, Institutional Sales and International and Private Pay Schools.
Managed Public Schools
The majority of the Company’s revenue is derived from long-term service agreements with the governing authorities of the virtual public schools. The Company offers these schools a variety of management, technology and academic support services. In full-time virtual managed public schools, students receive online lessons over the Internet. Students are also provided the opportunity to participate in a wide variety of school activities, including outings and clubs. In addition to school-level activities, the Company sponsors a variety of extracurricular activities on a national basis, such as clubs, contests and college and career planning sessions. The Company also serves iQ Academies, which are for middle school and high school students. The Company also manages and sells its products and services to blended public schools, which are public schools that combine online and face-to-face instruction for students in a variety of ways with varying amounts of time spent in a physical learning center. The Company manages three types of blended public schools: hybrid schools, Flex schools and Passport schools.
The Company provides curriculum and technology solutions, packaged in a portfolio of flexible learning and delivery models mapped to specific student and/or district needs. This portfolio provides a continuum of delivery models, from full and part-time virtual, to blended learning and other options that can be used in traditional classrooms to differentiate instruction. The Company’s catalog contains solutions to address specific student needs, including Advanced Placement, honors, world languages, remediation, credit recovery, alternative education, career and technology electives and college readiness. The Company also offers qualified state-certified teachers, professional development and other support services as needed by the customers. The Company’s FuelEd suite of offerings includes K12 curriculum, FuelEd Online Courses, FuelEd Anywhere Learning Systems (ALS) and Middlebury Interactive Languages curriculum. The Company offers a platform called Personalize, Engage and Achieve (PEAK), designed to centrally manage multiple online solutions across a school or district through one application.
International and Private Pay Schools
The Company operates private schools that meet the needs of students ranging from simple correspondence courses to challenging college preparatory programs. The Company operates the K12 International Academy, an online private school that serves students in both the United States and overseas. The school is accredited by AdvancED, and is recognized by the Commonwealth of Virginia as a degree granting institution of secondary learning. The Keystone School (Keystone) uses the Company’s FuelEd curriculum. The George Washington University Online High School is operated in cooperation with the George Washington University.
The Company also sells individual online courses directly to families. The Company’s curriculum is sold directly to customers who desire to educate their children outside of the traditional public school system or to supplement their child's existing public school education without the aid of an online teacher. The Company also offers Family Academic Support Teams (FAST) in several of its schools. The purpose of the FAST program is to ensure students are ready to engage in their learning experience by helping them overcome non-academic barriers, including family, health, psychological, or social issues that create obstacles to achieving academic success for some families. The Company has more than 700 courses across kindergarten, elementary, middle and high school, including world languages. From pre-kindergarten through 8th grade, the Company’s courses are generally categorized into seven major subject areas: English language arts, mathematics, science, history, art, music and world languages. The Company’s systems include TotalView, a suite of online applications that provides administrators, teachers, parents and students a unified view of student progress, attendance, communications, and learning kit shipment tracking. TotalView also includes Kmail, the Company’s internal communications system. SAMS is the Company’s student information system. The Company’s services are categorized into academic support services and management and technology services. The Company’s academic support services include Teachers and Related Services, Advanced and Special Education Services, Supporting Academically At-Risk Learners and Student Support Services. The Company provides turn-key management services to most of its managed statewide virtual and blended public schools.
The Company competes with Pearson PLC, White Hat Management, LLC, National Network of Digital Schools Management Foundation Inc., Apex Learning Inc., Compass Learning Inc., Edgenuity Inc., Glynlyon, Inc., Edmentum Inc., Renaissance Learning, Inc., Rosetta Stone Inc., Houghton Mifflin Harcourt, McGraw-Hill Companies, The Laurel Springs School and Penn Foster Inc.
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