2U Reports Results for First Quarter 2021
Delivers revenue growth of 32%
Reports improved profitability and positive cash flows from operations
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LANHAM, Md., April 28, 2021 /PRNewswire/
2U, Inc. (Nasdaq: TWOU), a global leader in education technology, today reported financial and operating results for the quarter ended March 31, 2021.
Results for First Quarter 2021 Compared to First Quarter 2020
Revenue increased 32% to $232.5 million
Degree Program Segment revenue increased 23% to $145.9 million
Alternative Credential Segment revenue increased 52% to $86.6 million
Net loss improved $14.5 million to $45.6 million, or $0.62 per share
Total cash balance at quarter end increased to $505.1 million, from $157.5 million
Non-GAAP Results for First Quarter 2021 Compared to First Quarter 2020
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