---
schema_version: "secwatch.filing_event.v1"
accession: "0001459417-24-000034"
form_type: "8-K"
ticker: null
cik: "0001459417"
company_name: "2U, Inc."
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:17:54.979379+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001459417-24-000034
- form_type: 8-K
- cik: 0001459417
- company_name: 2U, Inc.
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1459417/000145941724000034/0001459417-24-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1459417/000145941724000034/twou-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001459417-24-000034
- JSON: https://secwatch.observer/filing/0001459417-24-000034.json
- Plain text: https://secwatch.observer/filing/0001459417-24-000034.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1459417/000145941724000034/0001459417-24-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.