secwatch.observer — SEC 8-K summary
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Issuer:     2U, Inc. (—)
CIK:        0001459417
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001459417-24-000034
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1459417/000145941724000034/0001459417-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1459417/000145941724000034/twou-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001459417-24-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer