Exhibit 99.1

 

2U, Inc. Reports Fourth-Quarter and Full-Year 2016 Financial Results

 

· Full-Year 2016 Revenue Growth of 37%, Year Over Year

· Full-Year Net Loss Margin Improvement of Eight Percentage Points, Year Over Year
· Full-Year Adjusted EBITDA Margin Improvement of Seven Percentage Points, Year Over Year
· 2016 was 2U’s First Adjusted EBITDA Profitable Year

 

LANHAM, Md., Feb. 23, 2017 — 

2U, Inc. (NASDAQ: TWOU), today reported financial and operating results for the fourth quarter and full year ended December 31, 2016.

 

Fourth-Quarter 2016 Results

 

·                  Revenue was $57.4 million, an increase of 33% from $43.3 million in the fourth quarter of 2015.

·                  Net loss was $(2.2) million, or $(0.05) per share, compared to $(3.4) million, or $(0.07) per share, in the fourth quarter of 2015.

·                  Adjusted net income was $2.0 million, or $0.04 per share, compared to an adjusted net loss of $(0.1) million, or $(0.00) per share, in the fourth quarter of 2015.

·                  Adjusted EBITDA was $4.5 million, compared to $1.9 million, in the fourth quarter of 2015.

 

Full-Year 2016 Results

 

·                  Revenue was $205.9 million, an increase of 37% from $150.2 million, in 2015.

·                  Net loss was $(20.7) million, or $(0.44) per share, compared to $(26.7) million, or $(0.63) per share, in 2015.

·                  Adjusted net loss was $(4.9) million, or $(0.10) per share, compared to $(14.2) million, or $(0.34) per share, in 2015.

·                  Adjusted EBITDA was $4.5 million, compared to an adjusted EBITDA loss of $(6.6) million, in 2015.

 

“We once again produced strong financial performance for both the fourth quarter and full-year 2016.  Both periods showed significant year-over-year revenue growth as well as continued margin progress in each of our earnings measures,” said Chip Paucek, 2U’s CEO and co-founder. “2016 was the year that the first of our three earnings measures, adjusted EBITDA, turned positive, which is the result of having an increasing number of programs progressing toward and reaching steady state margins. Additionally, the launch cohort margins we reported for the year are further validation that mature programs can achieve the long-term steady state margins we target in the time frames we expect.

 

“We have now announced our full slate of 10 program launches for 2017, one more than originally promised. We have also committed to a target of 12 or more programs for 2018. With the new programs, we intend to add new university partners, new degree verticals and geographic diversity, in addition to expanding our scope in existing multiple program verticals.”

 


The following information was filed by 2U, Inc. (TWOU) on Thursday, February 23, 2017 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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