The Bengaluru-based company also claimed to have trimmed its EBITDA loss by 75.4% to INR 51 Cr in the financial year ending March 2024 from INR 208 Cr reported in the previous fiscal year.
Simplilearn said in a statement that these reduced losses and increased revenue resulted from the company’s strategic focus on operational efficiency and market expansion
The company conveyed that it is optimistic about reaching EBITDA profitability by FY25
Edtech startup Simplilearn’s total revenue jumped 10.2% to INR 773 Cr during the year under review from INR 701 Cr reported in FY23.
The Bengaluru-based company also claimed to have trimmed its EBITDA loss by 75.4% to INR 51 Cr in the financial year ending March 2024 from INR 208 Cr reported in the previous fiscal year.
Simplilearn
said in a statement that these reduced losses and increased revenue resulted from the company’s strategic focus on operational efficiency and market expansion.
Simplilearn’s founder and CEO Krishna Kumar said, “As we work toward profitability, we are focused on strengthening our products to meet industry needs, driving growth in the US and worldwide, and, above all, delivering an outstanding customer experience. We are excited about the future and optimistic about reaching EBITDA profitability in FY25, showcasing our dedication to innovation and excellence in education.”
The company recorded a two-fold increase in return on ad spend (ROAS) due to its campaign targeting to align better with learner personas and enhanced website content and design.
Among other vital growth for the fiscal year, the company said that it enhanced its market presence with strategic partnerships in the US and collaborations with government bodies in the EMEA region.
It also witnessed increased interest from Indian Global Capability Centers (GCCs) and IT service companies in AI/ML and cloud technology onboarding programs.
Going forward, the company plans to continue focusing on high-demand areas such as AI and cybersecurity, while also exploring potential acquisitions to further bolster its offerings once it becomes profitable.
Founded in 2010 by Krishna Kumar, Simplilearn earns a majority of its revenue from the sale of services by offering online upskilling courses across disciplines, including AI and ML, data science, cyber security, and cloud computing, to students and working professionals. It derives its revenues by providing learning programmes via both online and offline channels.
With a presence in San Francisco, California, and Bengaluru, Simplilearn claims to offer over 400 courses and more than 1,500 live online classes every month across 150 countries.
