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Key Financial Highlights: FY23 (Jul’22 to Jun’23) period
• Revenue as per IFRS audited financials grew from Rs. 1,900 crores in FY22 to Rs. 3,320 in FY23 representing a growth rate of 75% YoY.
• Total expenses (excluding finance cost and taxes) reduced by 17% in FY23 over FY22.
o Marketing expenses as a percentage of revenue reduced from 56% to 29%
o Employee expenses (excluding non-cash share appreciation expense) as a percentage of revenue reduced from 46% to 27%
o Other operating expenses as a percentage of revenue reduced from 13% to 9%
• Adjusted EBITDA (EBITDA excluding non-cash expenses such as depreciation, amortization, expense for share appreciation rights etc.) stood at -13% in FY23.
Key Business Highlights:
• Eruditus is the largest edtech player in India based on published financials FY23.
• Eruditus served 250,000 students across 80+ countries in FY23.
• Company works with 80+ world class university partners globally and offers 1,000+ courses in topics such as Artificial Intelligence, Data Science, Coding, Finance, Business, Leadership etc.
• Signed new world-class partners to global portfolio, including Johns Hopkins Carey Business School, Stanford Med School, Nanyang Technological University (NTU) and Sasin School of Management.
• In partnership with GSV Ventures, launched the pre-eminent Education and Workforce Leadership Summit in India, bringing together policy makers, investors, educators, entrepreneurs and industry leaders to shape the future of learning, with notable speakers including Smriti Irani, Nandan Nilekani and organizations including The Gates Foundation, CZI, Harvard, MIT, ASU, Blackstone and Accel.
• The Eruditus team was recognized for exemplary work by the GSV 150, the EdTech Leadership Awards, the Think Global Awards and the IIA Leadership Awards.
