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Edtech unicorn LEAD cuts losses by 70%; revenue remains flat

EntrackrEntrackr · 2d ago
Edtech unicorn LEAD cuts losses by 70%; revenue remains flat
Medial

Fintrackr All Stories Edtech unicorn LEAD cuts losses by 70%; revenue remains flat Digital learning solutions provider LEAD reported flat revenue for the financial year ended March 2025. However, the company managed to cut its losses by nearly 70% due to stringent cost-control measures. LEAD’s revenue from operations grew marginally by just 0.4% to Rs 351.8 crore in FY25 as compared to Rs 350.5 crore in FY24, its annual financial statements sourced from the Registrar of Companies (RoC) show. LEAD provides integrated curriculum and technology solutions to schools, including books, workbooks, smart classes, teacher training, ERPs, and Math-Science kits, along with teaching aids, devices, and textbooks. During the last fiscal year, revenue from product sales accounted for 78% of the company’s operating income at Rs 275.38 crore, while platform services contributed the remaining Rs 76.5 crore. LEAD also earned Rs 15.6 crore from non-operating activities, bringing its total income to Rs 367.4 crore in the last fiscal year. Like the previous fiscal (FY24), employee benefit costs reduced further in FY25, declining 20% year-on-year to Rs 139.7 crore. It remained the company’s largest expense head, accounting for 34% of total costs. The cost of products declined 12.3% to Rs 110.8 crore in FY25, while travel and conveyance expenses were Rs 23.8 crore. The Mumbai-based company also halved its advertising spend, which stood at Rs 17.23 crore. The company also cut spending on legal and professional fees, and transportation, contributing to a 20% year-on-year decline in overall expenses, which fell to Rs 410.7 crore in the last fiscal year. The controlled burn on employee expenses, cost of materials and reduced its losses by 70% to Rs 43.3 crore in FY25. Notably, the company’s EBITDA (loss) improved by 100%, narrowing to just Rs 1 crore in FY25 from Rs 112.7 crore in FY24. Its ROCE and EBITDA margin stood at -9.7% and -0.28%, respectively. On a unit level, it spent Rs 1.17 to earn a rupee in the last fiscal year. As of FY25, Lead’s current assets were recorded at Rs 370.4 crore with cash and bank balances of Rs 89.5 crore. LEAD has raised over $180 million to date, including a $100 million round in 2022 led by WestBridge Capital that made it a unicorn. According to TheKredible, WestBridge holds the largest external stake at 27.58%, followed by Elevar Equity, while co-founders Sumeet Mehta and Smita Deorah together own 32.7%.

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%

EntrackrEntrackr · 5m ago
Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83%
Medial

Eruditus clocks Rs 3,733 Cr revenue in FY24, narrows losses by 83% Global edtech company Eruditus recorded modest year-on-year growth in its operating revenue, crossing the Rs 3,700 crore ($448 million) mark in the fiscal year ending June 2024. The Mumbai-based firm narrowed its losses by over 83% during the same period. Compared to FY23, the firm’s operating scale grew by 12% to Rs 3,733 crore, according to its annual financial statement sourced from Singapore. Eruditus follows a financial year that runs from July to June. The firm appears to be ahead of the leading edtechs, with revenue nearly 1.8 times that of PhysicsWallah and more than double that of upGrad. PhysicsWallah reported Rs 2,015 crore revenue in FY24 whereas upGrad registered Rs 1,487 crore revenue in the same period. Eruditus offers education across more than 80 countries to over a million learners. It partners with over 80 universities across the United States, Europe, Latin America, Southeast Asia, India, and China. The firm didn’t offer revenue break-up across geographies. The company deferred recognition of Rs 800 crore ($96 million) in collected revenue to the last fiscal year (FY25). Eruditus made progress in controlling its expenses as its marketing expenses dipped 18.85% year-on-year to Rs 1,007 crore in FY24 from Rs 1,241 crore in FY23. Other operating expenses were down by 32.16% year-on-year to Rs 1,045 crore in FY24 from Rs 1,541 crore in FY23. The cost optimizations led to a sharp improvement in the company’s bottom line. Eruditus narrowed its adjusted EBITDA losses by 83.45% to Rs 69 crore ($8.3 million) in FY24 from Rs 417 crore ($50 million) in FY23. With backing from investors such as TPG, the Chan Zuckerberg Initiative, SoftBank Vision Fund 2, Prosus Ventures, Accel, and Peak XV, Eruditus has the capital reserve to expand its presence and offerings across markets. In October 2024, it raised $150 million in the second-largest edtech deal of the year, after PhysicsWallah’s $210 million funding. With revenue approaching $500 million and an 83% reduction in losses, the company shows a path toward sustainable growth in the edtech industry. Heading into FY25 with deferred revenue, Eruditus is on track to achieve profitability while building on its revenue base.

Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses

EntrackrEntrackr · 2m ago
Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses
Medial

Redcliffe Labs posts Rs 419 Cr revenue in FY25; narrows EBITDA losses Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24 and managed to narrow its EBITDA losses, as per the company’s press release. Diagnostics platform Redcliffe Labs has posted a 20% increase in its operating revenue to Rs 419 crore in FY25 from Rs 350 crore in FY24, as per the company’s press release. The Gurugram-based firm also managed to reduce its EBITDA losses from -38% to -21% during the same period. Founded by Aditya Kandoi, Redcliffe operates a nationwide network of over 80 labs and claims to have the widest home sample collection footprint in the country. Diagnostic services contributed over 95% of the company’s revenue in FY25, with the rest coming from product sales and other operating income. The company said it diagnosed over 2.5 million cases last fiscal and continues to focus on expanding in underserved regions, with more than 70% of its testing volumes now coming from Tier II cities and beyond. On the profitability front, Redcliffe reported a gross margin of 70% in FY25 and is aiming to expand it to 74% in FY26. It has also set a revenue target of Rs 560 crore for the ongoing fiscal through organic growth and strategic acquisitions. “We are transforming lives and making diagnostics a first-line solution for millions who were previously underserved,” said Kandoi. The company plans to expand its presence to over 300 cities with 150 labs by FY28. According to startup data platform TheKredible, Redcliffe has raised $113 million to date, including a $42 million Series C round led by LeapFrog. It also acquired Bengaluru-based Celara Diagnostics in a $7 million deal. Redcliffe competes with players like PharmEasy-owned Thyrocare, Tata 1mg, and Healthians.

Unacademy slashes core biz cash burn to Rs 200 Cr in 2025: Gaurav Munjal

EntrackrEntrackr · 4m ago
Unacademy slashes core biz cash burn to Rs 200 Cr in 2025: Gaurav Munjal
Medial

Unacademy slashes core biz cash burn to Rs 200 Cr in 2025: Gaurav Munjal Unacademy CEO Gaurav Munjal has shared an update on the company’s financial and operational performance. According to Munjal, Unacademy has reduced its cash burn in the core business from over Rs 1,000 crore annually three years ago to under Rs 200 crore this calendar year. This is about half of what the company spent last year. In a thread on social media platform X, Munjal said the company currently has Rs 1,200 crore in the bank and is in a “default alive” state. He added that some of Unacademy’s businesses, including Graphy and PrepLadder, are generating cash on a monthly basis. For context, the SoftBank-backed edtech unicorn cut its losses by 62% to Rs 631 crore in FY24, while its revenue remained flat during the period. Reflecting on past decisions, Munjal said edtech companies that grow through multiple acquisitions are unlikely to succeed in the current market. He said Unacademy had made this mistake earlier and is now focusing on profitability without getting distracted by external developments. On the offline front, Munjal said that around 70% of Unacademy’s centers are expected to be profitable at the center level this year. These centers are showing outcomes in exam categories such as JEE, NEET, and UPSC. He also pointed to Airlearn as the fastest-growing product within the group. Airlearn has recorded nearly 70,000 daily active users and $2 million in annual recurring revenue over the last 12 months. Munjal outlined three focus areas for the company: making the core business profitable, building tech products such as Airlearn and Graphy, and staying focused on internal goals instead of market noise.

Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

EntrackrEntrackr · 4m ago
Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%
Medial

Electric two-wheeler maker Ather Energy has announced its financial results for the fourth quarter of FY25. The company reported a 29% year-on-year jump in its operating revenue compared to Q4 FY24. Ather’s revenue from operations increased by 29% to Rs 676 crore in Q4 FY25, from Rs 523 crore in Q4 FY24, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ather Energy’s operating revenue increased 29% to Rs 2,255 crore in FY25 from Rs 1,754 crore in FY24. The company’s cost of materials, driven primarily by battery and component procurement, increased by nearly 16% to Rs 564 crore in Q4 FY25 from Rs 488 crore in the same period last year. Employee benefit expenses saw a decline of 29% YoY to Rs 109 crore in Q4 FY25 compared to Rs 154 crore in Q4 FY24. Depreciation and amortization costs rose 18% to Rs 45 crore, while other operational costs jumped nearly 47% to Rs 204 crore. Overall, Ather’s total expenditure grew 13% to Rs 922 crore in Q4 FY25, up from Rs 819 crore in Q4 FY24. For the full financial year ending March 2025, total expenses rose to Rs 3,117 crore as against Rs 2,674 crore in FY24. As a result, the company’s net losses reduced by 17% to Rs 234 crore in Q4 FY25 from Rs 283 crore in Q4 FY24. On a fiscal basis, its net losses came down 23% to Rs 812 crore in FY25 from Rs 1,060 crore in FY24. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE—2.18% above its issue price of Rs 321. However, the stock closed the day at Rs 300. On Monday, it rose 2.8% to trade at Rs 308.7 before market close, bringing its total market capitalization to Rs 11,497 crore ($1.34 billion). Ather's competitor Ola Electric, which saw a nearly 20% decline in operating revenue during Q3 FY25, has yet to file Q4 results.

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