k12 earnings call

So we're definitely going to see an increase in the amount of DCA enrollments this year than last year. Based on a recent parent survey, all satisfaction and loyalty metrics have increased from fall of 2018. This is not just my personal opinion. Just to clarify that the community business was less than $20 million and then the remainder of the enterprise business is smaller and the rate is remainder with the consumer. So, in summary, our core business is strong. We still expect our full-year tax rate to be in the 28% to 30% range. So, we've begun to think about pricing for next year as well. Now, again, this is not a change in guidance but just giving you more specific direction within the guidance we've already issued. And I think just service that we're able to provide for the communities. I think first and foremost, that's the most important right now. Our effective tax rate for the quarter was 33.5%. Very helpful. Most have been asked. The underlying trends are improving and it shows to our results this quarter as we exceeded the guidance we provided. Got it. Even with the acquisition, we expect full-year SG&A to be relatively flat to last year, plus or minus a couple of hundred basis points. I understand. We said to them, if you really want to be in a position to be able to help students and help your community and help your state as more students want to be safe and want to be in their online school. That's correct. Our next question comes from Steven Weber with Climbing Rose Capital. We're seeing top of the funnel more and top of the funnel, and we're seeing a better conversion rate now than we saw last year at this time. That's exactly right. Some other items to note. Some of the inbound inquiries however concerned options for the next school year. We still think there's a lot of market softening and a lot of market messaging to let people know these academies are available. And so, obviously, there is a starting point for that. It's also noting that we saw retention improvement in all grade levels and in most of the schools we serve. In addition, this conference call contains time-sensitive information that reflects management's best analysis only as of the day of this live call. And if so, can you just talk about how we should think about the cadence? We're actually not just for going to next year, but for many years to come. I'm sure everybody is busy, but hopefully you're safe and sound in your own studies as you listen to this call. We also received questions about COVID-19's impact on our business both short and long-term. Please proceed with your question. For further information concerning risks and uncertainties that could materially affect financial and operational performance and results, please refer to our reports filed with the SEC. Reported SG&A expenses were $63.7 million. But any change to your prior expectation for 2020 as far as Galvanize is concerned or any slight adjustments there? So net-net, predominantly driven by the community business, they're going to go a little bit lower. Just one quick question. The results were eye opening. Our tiny sales force, which we had reduced in size, is now overwhelmed by the number of opportunities, the number of calls that they're getting on inbound. Now, I'd like to turn to Galvanize. I don't know how much detail we've disclosed before, but the community business is slightly below $20 million, and I think it will, as I said, shrink a bit. As many of you may remember, we acquired Galvanize back in January. I'm very grateful to Nate and the entire board for this important opportunity. And again the goal for us was to get exposure. How do they, on an ongoing basis, monitor and do the data analytics and be in the content and curriculum? K12 does not undertake any obligation to publicly update or revise any forward-looking statements. More than 30% of high school parents want school options with online career readiness education offers [Phonetic]. So, I think in your comments you said, selling and administration to be flat year-over-year. The improvement in both adjusted EBITDA and adjusted operating income reflects improving trends in managed public schools. I got it. Revenue per enrollment was largely flat and we still believe that revenue per enrollment will be roughly flat for the full year. 20 now. Ladies and gentlemen, and thank you for standing by and welcome to the K12 First Quarter Fiscal 2021 Earnings Conference Call. This may increase our accounts receivable balance and depress our free cash flow for fiscal 2020. So -- and we've actually put that out to a couple of very large school districts. By every measure he has been an instrumental part of our company's trajectory and a tremendous help to me personally. Before we begin, I'd like to remind you that in addition to historical information, certain comments made during this conference call may be considered forward-looking statements. We had some problem hearing you. And then last question, and this is, I was just thinking with COVID, phones ringing off the hook, parents looking for alternatives for their kids. And I promise that it's the last accounting lesson I'll give today. States have committed to fund public schools during the crisis, and we are seeing increased demand for our services. So any of those kinds of applications we get because schools are closed, we would be -- I'm sorry, because the brick and mortar schools are closed, we would be able to take all the application. Did you get any lift from your private pay schools or did you have similar enrollment cutoff? Now, I know it usually takes some lead time before you get permission to open up a new school. Now, as you think about the impact that pandemic is having on our country and our communities, and I believe it to be horrific, it's a similar moment for online education. ET. To-date, nearly 70,000 students, teachers and families have signed up for these programs and webinars. And in light of that, in light of the current COVID-19 environment, I know you had mentioned positive EBITDA in fiscal year '21. K12, Inc. to Host Earnings Call NEW YORK, NY / ACCESSWIRE / October 26, 2020 / K12, Inc. NEW YORK, NY / ACCESSWIRE / October 26, 2020 / K12, Inc.

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