Net revenue

Simplilearn targets $500 million in net sales by FY26 and bets on strengthening its business globally

Digital skills training platform Simplilearn aims to generate $500 million in net revenue by the end of FY26. Additionally, it plans to expand its presence in Latin America and Europe by the end of FY24. “Our main markets in Latin America will be Brazil, Mexico in addition to France, Germany, Spain and the UK,” said Kashyap Dalal, Co-Founder and Chief Commercial Officer at FE Education online. Additionally, the company plans to introduce new courses on product management, general management, digital transformation, design thinking, and the application of artificial intelligence (AI) in business within six to nine. month.

The company which claims to offer certifications, postgraduate programs and guaranteed employment programs as well as in-company trainings, claims to increase its annual revenue at a rate of $150 million. However, Dalal declined to comment on his net income and losses in FY22. Regulatory files viewed by business intelligence platform Tofler revealed that Simplilearn’s revenue from operations increased by 25%. to reach Rs 228.76 crore in FY21 from Rs 182.86 crore in FY20. The company’s net loss widened by 837.07% to Rs 9, 8 crore in FY22 vs. Rs 1.05 crore in FY20.

Dalal further added that the main source of revenue for the company is tuition fees paid by students, which accounts for 67% of total revenue. The remaining 33% of income comes from in-company training. The company also claims that its paid user base is 1.5 lakh; on average, every month, the platform receives 20,000 paid registrations in all courses.

Meanwhile, the company recently announced plans to hire 800 team members by the end of 2022, primarily in product, technology, and marketing. In addition, it plans to strengthen its management team in India and the United States and to hire positions of vice president, senior vice president and chief experience officer in the coming months. The company further plans to recruit C-suite level executives in the United States.

Read also: Simplilearn will increase its workforce by 800 this year