Revenue grew by 23% while managing positive EBITDA & Net Profit
- The revenue for FY24 was 118MN USD compared to 96MN USD in FY23.
- The company generated positive operating cash flow in FY24.
- Several new partnerships forged and new products launched.
Bengaluru 21 October 2024: Great Learning, a leading global EdTech company for higher education and professional training has registered a 23% YoY growth in revenue in FY24. Its revenue was 118MN USD and both EBITDA and Net Profit were positive for the fiscal year. In a year that’s been marked by a tough economic environment, uncertainty due to AI, and negative sentiment about EdTech in particular, this is a truly noteworthy achievement.
The company’s noteworthy performance in FY24 comes on the back of its emergence as a leading global provider of AI upskilling while maintaining a sharp focus on profitability. Great Learning continues to see robust growth in international markets such as North America and Europe.
Since last year, the company has been adding several new collaborations including with Microsoft and Amazon for industry certifications as well as several top global universities like Johns Hopkins, Duke University and IIT Bombay for degree and professional certificate programs. Great Learning recently announced that it has launched the ‘Executive PG Program in AI and Data Science’, from IIT-Bombay and the ‘AI Business Strategy Program’ from Johns Hopkins University.
Founded 11 years ago, Great Learning was among the early EdTech companies in India to offer professional certificate courses in rapidly developing digital domains such as Data Science and Artificial Intelligence in collaboration with top global universities. Today it offers 1200+ programs (paid and free) and has over 11 million learners across 170 countries. Great Learning pioneered the concept of Personalized Mentorship from seasoned industry experts in specially curated micro-classes to ensure superior learning outcomes for its learners. Its program completion rates are above 90%, among the best in the industry.
Talking about the company’s performance, Mohan Lakhamraju, Founder and CEO, Great Learning said, “We are happy to have delivered strong performance under tough macroeconomic conditions. Our unwavering focus on high quality education and providing strong support has been rewarded by lakhs of learners taking up our programs and giving us exceptional satisfaction ratings. We have been on a mission for over a decade to help professionals across the world acquire the new age skills required to succeed in the digital world and we continue to stay sharply focused on it.”
Great Learning is on a path to becoming the most trusted platform for professionals to learn how to use the power of AI to be more productive and advance their careers. As the adoption of GenAI across all industries and all functional roles becomes more prevalent, Great Learning will make learning GenAI more accessible, affordable and effective for professionals globally. In collaboration with the top Indian and global universities as well as tech-leaders like Microsoft and Amazon, Great Learning is making world-class education more accessible through online certificate, diploma and degree programs.
Great Learning was acquired by BYJU’S in 2021. In Oct 2023, its financial lenders took control of BYJU’s ownership in Great Learning to safeguard and protect it. They have partnered with the company’s founders and team to support the company and its future growth as an independent company.
