2U Inc
NASDAQ:TWOU
Income Statement
Earnings Waterfall
2U Inc
Revenue
|
946m
USD
|
Cost of Revenue
|
-433.8m
USD
|
Gross Profit
|
512.1m
USD
|
Operating Expenses
|
-504.8m
USD
|
Operating Income
|
7.3m
USD
|
Other Expenses
|
-324.9m
USD
|
Net Income
|
-317.6m
USD
|
Income Statement
2U Inc
Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | |||||||||||||||||||||||||||||||||||||||||
Revenue |
72
N/A
|
96
+34%
|
104
+8%
|
110
+6%
|
119
+8%
|
129
+9%
|
138
+7%
|
150
+9%
|
163
+9%
|
177
+9%
|
192
+8%
|
206
+7%
|
223
+8%
|
239
+7%
|
258
+8%
|
287
+11%
|
314
+10%
|
347
+10%
|
383
+11%
|
412
+7%
|
442
+7%
|
480
+9%
|
527
+10%
|
575
+9%
|
628
+9%
|
675
+8%
|
723
+7%
|
775
+7%
|
832
+7%
|
886
+7%
|
917
+4%
|
946
+3%
|
967
+2%
|
971
+0%
|
971
0%
|
963
-1%
|
948
-2%
|
929
-2%
|
926
0%
|
946
+2%
|
|
Gross Profit | |||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(36)
|
(48)
|
(50)
|
(50)
|
(51)
|
(53)
|
(55)
|
(59)
|
(62)
|
(67)
|
(71)
|
(74)
|
(78)
|
(83)
|
(92)
|
(103)
|
(117)
|
(131)
|
(142)
|
(154)
|
(168)
|
(192)
|
(236)
|
(278)
|
(317)
|
(348)
|
(368)
|
(390)
|
(413)
|
(431)
|
(436)
|
(448)
|
(463)
|
(466)
|
(469)
|
(468)
|
(459)
|
(456)
|
(454)
|
(434)
|
|
Gross Profit |
36
N/A
|
48
+33%
|
55
+14%
|
61
+12%
|
67
+11%
|
76
+13%
|
82
+8%
|
91
+10%
|
101
+11%
|
110
+9%
|
121
+10%
|
132
+9%
|
146
+11%
|
156
+7%
|
166
+6%
|
184
+11%
|
198
+8%
|
216
+9%
|
241
+12%
|
258
+7%
|
274
+6%
|
287
+5%
|
291
+1%
|
297
+2%
|
311
+5%
|
327
+5%
|
354
+8%
|
385
+9%
|
419
+9%
|
455
+9%
|
482
+6%
|
497
+3%
|
503
+1%
|
505
+0%
|
501
-1%
|
495
-1%
|
490
-1%
|
473
-3%
|
473
0%
|
512
+8%
|
|
Operating Income | |||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(58)
|
(80)
|
(84)
|
(89)
|
(94)
|
(102)
|
(109)
|
(117)
|
(125)
|
(133)
|
(143)
|
(153)
|
(167)
|
(180)
|
(198)
|
(214)
|
(240)
|
(270)
|
(291)
|
(304)
|
(329)
|
(366)
|
(423)
|
(473)
|
(587)
|
(536)
|
(545)
|
(564)
|
(593)
|
(605)
|
(629)
|
(665)
|
(686)
|
(682)
|
(648)
|
(582)
|
(540)
|
(511)
|
(510)
|
(505)
|
|
Selling, General & Administrative |
(58)
|
(80)
|
(84)
|
(89)
|
(94)
|
(102)
|
(109)
|
(117)
|
(125)
|
(133)
|
(143)
|
(153)
|
(167)
|
(180)
|
(198)
|
(214)
|
(240)
|
(270)
|
(291)
|
(304)
|
(329)
|
(366)
|
(423)
|
(473)
|
(516)
|
(536)
|
(545)
|
(564)
|
(581)
|
(605)
|
(629)
|
(665)
|
(686)
|
(682)
|
(648)
|
(582)
|
(540)
|
(510)
|
(510)
|
(505)
|
|
Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(70)
|
0
|
0
|
0
|
(12)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Operating Income |
(22)
N/A
|
(32)
-49%
|
(29)
+9%
|
(28)
+4%
|
(27)
+3%
|
(26)
+4%
|
(27)
-3%
|
(26)
+2%
|
(24)
+8%
|
(23)
+5%
|
(22)
+5%
|
(21)
+4%
|
(21)
-1%
|
(24)
-11%
|
(33)
-38%
|
(30)
+8%
|
(43)
-42%
|
(54)
-26%
|
(50)
+7%
|
(47)
+7%
|
(55)
-18%
|
(79)
-44%
|
(132)
-67%
|
(176)
-34%
|
(276)
-57%
|
(209)
+24%
|
(190)
+9%
|
(179)
+6%
|
(174)
+3%
|
(150)
+14%
|
(148)
+2%
|
(167)
-13%
|
(183)
-9%
|
(177)
+3%
|
(147)
+17%
|
(87)
+41%
|
(50)
+42%
|
(37)
+25%
|
(37)
+1%
|
7
N/A
|
|
Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(1)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
1
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
2
|
3
|
5
|
5
|
(2)
|
(8)
|
(18)
|
(23)
|
(24)
|
(27)
|
(28)
|
(30)
|
(39)
|
(25)
|
(56)
|
(62)
|
(61)
|
(65)
|
(65)
|
(69)
|
(72)
|
(73)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(70)
|
(70)
|
0
|
(82)
|
(12)
|
(12)
|
0
|
(1)
|
(1)
|
(1)
|
(60)
|
(76)
|
(167)
|
(172)
|
(134)
|
(255)
|
(178)
|
(250)
|
|
Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
23
|
23
|
(3)
|
22
|
(3)
|
(5)
|
0
|
(2)
|
(1)
|
(0)
|
0
|
|
Pre-Tax Income |
(22)
N/A
|
(33)
-47%
|
(30)
+8%
|
(29)
+4%
|
(27)
+6%
|
(26)
+4%
|
(27)
-3%
|
(27)
+2%
|
(25)
+8%
|
(23)
+5%
|
(22)
+6%
|
(21)
+5%
|
(21)
N/A
|
(24)
-17%
|
(33)
-37%
|
(31)
+7%
|
(43)
-41%
|
(54)
-23%
|
(48)
+10%
|
(43)
+10%
|
(50)
-15%
|
(74)
-50%
|
(204)
-175%
|
(255)
-25%
|
(294)
-15%
|
(314)
-7%
|
(226)
+28%
|
(218)
+3%
|
(202)
+7%
|
(158)
+22%
|
(166)
-5%
|
(196)
-18%
|
(276)
-41%
|
(317)
-15%
|
(379)
-19%
|
(323)
+15%
|
(251)
+22%
|
(361)
-44%
|
(287)
+21%
|
(316)
-10%
|
|
Net Income | |||||||||||||||||||||||||||||||||||||||||
Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
3
|
6
|
6
|
5
|
5
|
20
|
19
|
20
|
20
|
2
|
3
|
2
|
1
|
0
|
0
|
1
|
1
|
2
|
1
|
1
|
1
|
0
|
0
|
(2)
|
|
Income from Continuing Operations |
(22)
|
(33)
|
(30)
|
(29)
|
(27)
|
(26)
|
(27)
|
(27)
|
(25)
|
(23)
|
(22)
|
(21)
|
(21)
|
(24)
|
(32)
|
(29)
|
(41)
|
(47)
|
(43)
|
(38)
|
(45)
|
(55)
|
(186)
|
(235)
|
(274)
|
(312)
|
(224)
|
(217)
|
(202)
|
(158)
|
(165)
|
(195)
|
(275)
|
(316)
|
(378)
|
(322)
|
(251)
|
(361)
|
(287)
|
(318)
|
|
Net Income (Common) |
(23)
N/A
|
(33)
-47%
|
(30)
+8%
|
(29)
+4%
|
(27)
+6%
|
(26)
+4%
|
(27)
-3%
|
(27)
+2%
|
(25)
+8%
|
(23)
+5%
|
(22)
+6%
|
(21)
+5%
|
(21)
N/A
|
(24)
-17%
|
(32)
-33%
|
(29)
+8%
|
(41)
-39%
|
(47)
-16%
|
(43)
+10%
|
(38)
+10%
|
(45)
-17%
|
(55)
-22%
|
(186)
-240%
|
(235)
-27%
|
(274)
-16%
|
(312)
-14%
|
(224)
+28%
|
(217)
+3%
|
(202)
+7%
|
(158)
+22%
|
(165)
-5%
|
(195)
-18%
|
(275)
-41%
|
(316)
-15%
|
(378)
-19%
|
(322)
+15%
|
(251)
+22%
|
(361)
-44%
|
(287)
+21%
|
(318)
-11%
|
|
EPS (Diluted) |
-0.72
N/A
|
-0.84
-17%
|
-0.75
+11%
|
-0.91
-21%
|
-0.68
+25%
|
-0.64
+6%
|
-0.66
-3%
|
-0.63
+5%
|
-0.53
+16%
|
-0.52
+2%
|
-0.46
+12%
|
-0.44
+4%
|
-0.44
N/A
|
-0.51
-16%
|
-0.67
-31%
|
-0.6
+10%
|
-0.77
-28%
|
-0.86
-12%
|
-0.73
+15%
|
-0.69
+5%
|
-0.79
-14%
|
-0.92
-16%
|
-2.93
-218%
|
-3.83
-31%
|
-4.3
-12%
|
-4.86
-13%
|
-3.25
+33%
|
-3.22
+1%
|
-2.74
+15%
|
-2.11
+23%
|
-2.21
-5%
|
-2.61
-18%
|
-3.6
-38%
|
-4.09
-14%
|
-4.86
-19%
|
-4.17
+14%
|
-3.15
+24%
|
-4.48
-42%
|
-3.52
+21%
|
-3.93
-12%
|