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2U, Inc. (TWOU) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

2U, Inc.

CIK: 1459417 Ticker: TWOU

Exhibit 99.1

 

2U, Inc. Reports Fourth-Quarter and Full-Year 2015 Financial Results

 

·                  Full-Year 2015 Revenue Growth of 36 Percent

·                  55 Percent Year-Over-Year Adjusted EBITDA Loss Improvement

·                  Fourth Quarter 2015 is First Adjusted EBITDA Positive Quarter in Company History

 

LANDOVER, Md., February 25, 2016 /PRNewswire/ — 2U, Inc. (NASDAQ: TWOU),

today reported financial and operating results for the fourth quarter and full year ended December 31, 2015. 2U is a leading provider of cloud-based software-as-a-service technology fused with technology-enabled services that enables leading nonprofit colleges and universities to deliver their high-quality degree programs online.

 

Fourth-Quarter 2015 Results

 

·                  Revenue was $43.3 million, an increase of 41 percent from $30.8 million in the fourth quarter of 2014.

·                  Net loss attributable to holders of common stock was $(3.4) million, or $(0.07) per share, compared to $(4.0) million, or $(0.10) per share, in the fourth quarter of 2014.

·                  Adjusted net loss was $(0.1) million, or $(0.00) per share compared to $(2.0) million, or $(0.05) per share, in the fourth quarter of 2014.

·                  Adjusted EBITDA income was $1.9 million, compared to a loss of $(0.6) million in the fourth quarter of 2014.

 

Full-Year 2015 Results

 

·                  Revenue was $150.2 million, an increase of 36 percent from $110.2 million in 2014.

·                  Net loss attributable to common stockholders was $(26.7) million, or $(0.63) per share, compared to $(29.1) million, or $(0.91) per share, in 2014.

·                  Adjusted net loss was $(14.2) million, or $(0.34) per share compared to $(20.8) million, or $(0.55) per pro forma share, in 2014.

·                  Adjusted EBITDA loss was $(6.6) million, compared to a loss of $(14.8) million in 2014.

 

It was a great year and we closed out 2015 by again delivering significant year-over-year revenue growth,” said Chip Paucek, 2U’s CEO and co-founder. “Q4 2015 was the first adjusted EBITDA profitable quarter in the history of the company. And perhaps more importantly, we now also anticipate that Q1 2016 and Q4 2016 will be adjusted EBITDA positive, indicating that we remain on the path to our adjusted EBITDA profitability goals.”

 

Recent Program Related Developments

 

2U announced today a new Master of Science in Data Science program with Syracuse University, with launch pending appropriate state and school approvals. This announcement marks 2U’s fifth program with Syracuse University.

 


The following information was filed by 2U, Inc. (TWOU) on Thursday, February 25, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity (deficit)
Consolidated Statements Of Operations
Accounts Receivable And Allowance For Doubtful Accounts
Accounts Receivable And Allowance For Doubtful Accounts (details)
Accounts Receivable And Allowance For Doubtful Accounts (tables)
Capitalized Content Development Costs
Capitalized Content Development Costs (details)
Capitalized Content Development Costs (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Description Of The Business
Description Of The Business (details)
Income Taxes
Income Taxes (details 3)
Income Taxes (details)
Income Taxes (tables)
Income Taxes, Change In Deferred Tax Valuation Allowance (details 2)
Net Loss Per Share
Net Loss Per Share (details 2)
Net Loss Per Share (details)
Net Loss Per Share (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Quarterly Financial Information ( Unaudited )
Quarterly Financial Information ( Unaudited ) (details)
Quarterly Financial Information ( Unaudited ) (tables)
Related Party Transactions
Related Party Transactions (details)
Retirement Plan
Retirement Plan (details)
Segment And Geographic Information
Segment And Geographic Information (details)
Significant Accounting Policies
Significant Accounting Policies (details )
Significant Accounting Policies (details 2)
Significant Accounting Policies (details 3)
Significant Accounting Policies (policies)
Stock-based Compensation
Stock-based Compensation (details 2)
Stock-based Compensation (details)
Stock-based Compensation (tables)
Stockholders' Equity
Stockholders' Equity (details)
Stockholders' Equity (tables)
Ticker: TWOU
CIK: 1459417
Form Type: 10-K Annual Report
Accession Number: 0001047469-16-010989
Submitted to the SEC: Thu Mar 10 2016 5:04:33 PM EST
Accepted by the SEC: Thu Mar 10 2016
Period: Thursday, December 31, 2015
Industry: Prepackaged Software

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