upGrad turns a profit this quarter; crosses USD 300 Mn in Annual Revenue Run-rate
Mumbai, 22 March 2022: South Asia’s largest & Asia’s leading higher EdTech major – upGrad, today reported turning a profit spurred by a 150% growth Y-o-Y in revenues and a stable 70% gross margin, across all its income streams.
upGrad is now well-positioned as the most integrated Higher Edtech company in the world – spanning all aspects of LifeLongLearning from undergrad courses, test prep, on-campus learning, study abroad, short courses, executive programs, degrees, and diplomas with its partner universities and all the way to online Doctorates.
“Our obsessions for outcomes for all our learners, coupled with our global best-in-class 85% completion track record that leads to a high referral, word of mouth, and repeat-learner base from over 50+ countries, in part has contributed to our growth. Our focus on profitability only powers us to impact at a much larger scale and make online learning accessible and affordable and with the right cost model anywhere in the world,” said Mayank Kumar, Co-Founder & MD, upGrad.
upGrad today has the largest repository of online case theses and studies from around the globe, and a mentor-coach qualified team of over 300 which makes the online learning experience, focused on outcomes. The base-case increments for working professionals taking courses through upGrad are at 30% and peak at over 250%. A recent audit done by one of the Big Four firms’ shows the highest level of ROI for upGrad’s online learners.
“The Q4 performance bodes well to stay on track, as we hold the hand and cater to the global workforce’s career needs. We are on track to reach our goal of USD 2Bn gross revenue by 2026,” concludes Ronnie Screwvala Chairperson & Co-Founder, upGrad.