HIGHER EDTECH COMPANY UPGRAD TURNS A PROFIT THIS QUARTER

KUALA LUMPUR, March 22 (Bernama) -- South Asia’s largest & Asia’s leading higher EdTech major - upGrad, has reported turning a profit spurred by a 150 per cent growth Y-o-Y in revenues and a stable 70 per cent gross margin, across all its income streams.

“Our obsession for outcomes for all our learners, coupled with our global best-in-class 85 per cent 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 Co-Founder & MD, upGrad, Mayank Kumar, in a statement.

Meanwhile, upGrad Chairperson & Co-Founder, Ronnie Screwvala said: “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 2 billion gross revenue by 2026.”

Currently, upGrad 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 per cent and peak at over 250 per cent. A recent audit done by one of the Big Four firms shows the highest level of ROI for upGrad’s online learners.

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 programmes, degrees, and diplomas with its partner universities and all the way to online Doctorates.

Already termed Asia’s higher EdTech leader, upGrad has offices in the UK, U.S., Middle East, India, Singapore & Vietnam, and with presence in many more countries.

-- BERNAMA