PhysicsWallah is an edtech unicorn that provides an online learning platform with learning resources, JEE, and NEET preparation courses. The platform offering educational courses announced a 160.7 percent increase in its operational revenue to Rs 1,940.4 crore in FY24. The startup provides live coaching classes for educational and competition courses to students. These coaching and subscription services are the company’s primary source of revenue. The startup uses cutting-edge technologies to provide its users with a seamless learning experience.
Entrackr mentioned in its report that the firm also earns income through the sale of products and interest on financial assets. The startup data intelligence platform, thekredible mentioned that the operating revenue for the firm increased by 2.6 times in FY24. The company’s revenue was largely generated from educational services while Rs 74.64 crore were made via interest and gain on financial assets which increased the total revenue to Rs 2,015 crore in this financial year. Entrackr reported.
The startup has secured around 312 million USD across two funding rounds since its inception, including $210 million raised during its series B funding round led by GSV Ventures, Lightspeed Venture Partners, Hornbill Capital, and WestBridge Capital. The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 2.72 billion.
The Noida-based edtech firm provides courses for academic subjects, test preparation, and more. The online platform uses advanced technologies to offer quality content. This edtech startup provides users with various video courses on subjects including Physics, Mathematics, Chemistry, and Biology. The advertisement and promotional expenses saw a 70.8 percent decrease to Rs 19.56 crore in FY24.
The total expenditure of the firm also saw an increase of 280.4 percent and stood at Rs 3,279 crore in the same period. The company aims to improve its platform and offer innovative learning solutions to strengthen its position in the global edtech market. Physics Wallah faces competition from other online learning service providers such as Byjus, Vedantu, and Gostudent.
The startup failed to control its losses and noticed a 346.4 percent increase to Rs 375 crore in this financial year. Employee Benefits accounted for 35.3 percent of the total expenses and stood at Rs 1,159 crore in the same period. The EBITDA margin stood at -44.70 percent while ROCE was around -85.84 percent in FY24.
Conclusion :
The Noida-based edtech unicorn PhysicsWallah announced a 160.7 percent increase in its operational revenue to Rs 1,940.4 crore in FY24. This online coaching and learning service platform provides several learning courses, including engineering entrance exam preparations and academic subjects. These courses through both online and offline learning centers are the firm’s primary sources of revenue.
The loss also increased by 346.4 percent to Rs 375 crore in FY24. The firm’s total expenses increased by 28.0.4 percent to Rs 907 crore in the same duration. The startup plans to minimize its losses by reducing operating and employee expenses. The company has secured over 312 million USD across multiple funding rounds.
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