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2U, Inc. (TWOU)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsJun-30-23Mar-31-23Sep-30-22Jun-30-22Mar-31-22Dec-31-21Sep-30-21Jun-30-21
   10-Q10-Q10-Q10-Q10-Q10-K10-Q10-Q
Total revenue  222.1238.5232.2241.5253.3243.6232.4237.2
            Total revenue growth  -8.0%-5.9%-0.1%1.8%9.0%13.2%15.6%29.8%
Costs and expenses          
Curriculum and teaching  34.132.831.632.133.232.030.934.8
Servicing and support  33.636.136.137.139.636.633.934.9
Technology and content development  44.345.544.045.651.150.543.142.5
Marketing and sales  95.9100.294.3116.4131.0109.9118.3114.6
General and administrative  32.739.339.441.550.264.344.346.2
Restructuring charges  3.64.911.616.80.8 5.41.3
Impairment charges  134.1 79.5 58.8   
    Total costs and expenses  378.2258.7336.5289.4364.7293.3275.9274.3
    Loss from operations  -156.1-20.2-104.2-48.0-111.4-49.7-43.5-37.1
            Operating margin  -70.3%-8.5%-44.9%-19.9%-44.0%-20.4%-18.7%-15.6%
Interest income  0.40.40.30.20.30.30.50.4
Interest expense  -17.9-18.0-15.9-13.9-13.9-18.2-16.9-8.2
Debt modification expense and loss on debt extinguishment   -16.7      
Other income (expense), net  0.20.6-1.8-1.4-1.0-0.4-0.424.1
    Loss before income taxes  -173.4-53.9-121.7-63.0-126.0-68.0-60.4-22.0
Income tax (expense) benefit  -0.2-0.10.10.20.30.70.30.1
    Net loss  -173.7-54.1-121.7-62.9-125.8-67.3-60.1-21.8
   
Net loss per share, basic (in dollars per share)  ($2.16)($0.68)($1.57)($0.82)($1.65)($0.89)($0.80)($0.29)
Net loss per share, diluted (in dollars per share)  ($2.16)($0.68)($1.57)($0.82)($1.65)($0.89)($0.80)($0.29)
   
Weighted-average shares of common stock outstanding, basic (in shares)  80.679.377.777.176.374.674.774.4
Weighted-average shares of common stock outstanding, diluted (in shares)  80.679.377.777.176.374.674.774.4
   
Other comprehensive loss          
Foreign currency translation adjustments, net of tax of $0 for all periods presented  -4.0-3.3-5.6-7.77.3-4.0-4.33.0
    Comprehensive loss  -177.7-57.4-127.3-70.5-118.5-71.3-64.4-18.9

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