2U Reports Strong Results for Fourth Quarter and Full-Year 2022 – PR Newswire
LANHAM, Md., Feb. 2, 2023 /PRNewswire/ — 2U, Inc. (Nasdaq: TWOU), a leading online education platform company, today reported financial and operating results for the quarter and full-year ended December 31, 2022.
Results for Fourth Quarter 2022 compared to Fourth Quarter 2021
- Revenue decreased 3% to $236.0 million
- Degree Program Segment revenue decreased 10% to $137.1 million
- Alternative Credential Segment revenue increased 8% to $98.9 million
- Net loss decreased 82% to $11.8 million, or $0.15 per share
Non-GAAP Results for Fourth Quarter 2022 compared to Fourth Quarter 2021
- Adjusted EBITDA increased 178% to $58.4 million; a margin of 25%
- Adjusted net income increased 225% to $18.5 million, or $0.23 per share
Results for Full-Year 2022 compared to Full-Year 2021
- Revenue increased 2% to $963.1 million
- Degree Program Segment revenue decreased 3% to $571.6 million
- Alternative Credential Segment revenue increased 11% to $391.5 million
- Net loss increased 65% to $322.2 million, or…
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source: https://news.oneseocompany.com/2023/02/02/2u-reports-strong-results-for-fourth-quarter-and-full-year-2022-pr-newswire_2023020240080.html
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