Great Learning claims 23% revenue growth at $118 million in FY24

EdTech company Great Learning on Monday said it has registered a 23 per cent year-on-year growth in revenue to USD 118 million (about Rs 992 crore) in the financial year 2024.

The company said it has registered growth on account of upskilling demand for artificial intelligence and business gains in the US and Europe.

"Revenue was USD 118 million, and both EBITDA and net profit were positive for the fiscal year," the company said in a statement.

Great Learning was acquired by Byju's in 2021. 

In Oct 2023, its financial lenders took control of Byju's ownership in Great Learning to safeguard and protect it, the statement said "The company's noteworthy performance in FY24 comes on the back of its emergence as a leading global provider of AI upskilling while maintaining a sharp focus on profitability. Great Learning continues to see robust growth in international markets, such as North America and Europe," the statement said.

Founded 11 years ago, Great Learning offers professional certificate courses in rapidly developing digital domains like data science and artificial intelligence in collaboration with top global universities.

Since last year, Great Learning has been adding several new collaborations, including with Microsoft and Amazon, for industry certifications and several top global universities like Johns Hopkins, Duke University and IIT Bombay for degree and professional certificate programmes.

Great Learning at present offers over 1,200 programmes (paid and free) and claims to have over 11 million learners across 170 countries.

"We are happy to have delivered strong performance under tough macroeconomic conditions," Mohan Lakhamraju, Founder and CEO, Great Learning, said.