2U Q1 revenue down 17% to $198.4M; net loss $54.6M, reaffirms FY guidance

2U, Inc.

2024-Q1 EPS reported -$0.65 revenue$198,377,000

Revenue $198.4M, down 17% YoY; Degree Program revenue fell 21%, Alternative Credential down 11%.
Net loss $54.6M ($0.65/sh); adjusted net loss $18.1M ($0.22/sh); adjusted EBITDA $17.3M (9% margin).
Cash $137.4M (up $64M from Dec 2023) including $74M from receivables transaction; total debt $906.4M.
Full-year 2024 guidance reaffirmed: revenue $805-815M, adjusted EBITDA $120-125M; net loss updated to $103-98M.
Q2 2024 guidance: revenue $191-194M, net loss $37.5-32.5M, adjusted EBITDA $16-18M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

2U, Inc. reported quarter ended March 31, 2024 results: revenue $198.4 million, net income $54.6 million, EPS $0.65 per share. Guidance reaffirmed.

Period: quarter ended March 31, 2024
Revenue: $198.4 million
Net income: $54.6 million
EPS: $0.65 per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

improvement initiatives, put us in a strong position to fix our balance sheet.” Results for First Quarter 2024 compared to First Quarter 2023 • Revenue decreased 17% to $198.4 million • Degree Program Segment revenue decreased 21% to $111.5 million • Alternative Credential Segment revenue decreased 11% to $86.8 million • Net loss was $54.6 million, or $0.65

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Source: SEC EDGAR

accession 0001459417-24-000034

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