The company said it added over 12,000 new degrees for students over the two years ended December 31, 2020 at an average acquisition cost of under $2,000. As the pandemic made remote work and online learning more widespread, it is uncertain what impact the tapering of the Covid-19 pandemic could have on our operating results."
"Likewise, we have experienced a significant increase in our operating costs associated with our services, primarily driven by our freemium offerings and marketing efforts. "Our revenue significantly increased due primarily to an increase in the number of enrollments during the Covid-19 pandemic," the company's IPO prospectus stated. Net losses widened by roughly $20 million year over year, reaching $66.8 million in 2020. The nine-year-old company brought in roughly $293 million in revenue for the fiscal year ended December 31 - a 59% growth rate from 2019, according to the filing. Personal Loans for 670 Credit Score or LowerĬoursera has made the CNBC Disruptor 50 list multiple times and most recently ranked No.
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