2U, Inc. (TWOU) financial statements (2021 and earlier)

Company profile

Business Address 7900 HARKINS ROAD
LANHAM, MD 20706
State of Incorp. DE
Fiscal Year End December 31
SIC 7372 - Prepackaged Software (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments50117147522316918487
Cash and cash equivalents50117145022316918487
Short-term investments  25    
Restricted cash and investments1819     
Receivables46343214810
Prepaid expense    873
Other undisclosed current assets4037151112 
Total current assets:60526152224818519390
Noncurrent Assets
Operating lease, right-of-use asset6143
Property, plant and equipment535852491687
Intangible assets, net (including goodwill)7297511981632  
Goodwill4164186272   
Intangible assets, net (excluding goodwill)313333137912  
Prepaid expense    77 
Other noncurrent assets97   341
Other undisclosed noncurrent assets 733522321915
Total noncurrent assets:939926286234603823
TOTAL ASSETS:1,5441,187807482244231113
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:13165282320182
Accounts payable    452
Accrued liabilities5246     
Employee-related liabilities532223191613 
Other undisclosed accounts payable and accrued liabilities26(2)54   
Deferred revenue7549
Debt18     
Deferred revenue and credits7332
Contract with customer, liability8
Other liabilities211399   
Other undisclosed current liabilities9212319181220
Total current liabilities:2371566858413324
Noncurrent Liabilities
Long-term debt and lease obligation356314     
Long-term debt, excluding current maturities273247     
Operating lease, liability8367
Liabilities, other than long-term debt1062310831
Deferred tax liabilities, net 10   
Deferred income tax liabilities35
Other liabilities71230831
Other undisclosed noncurrent liabilities  1026  1
Total noncurrent liabilities:3663203436831
Total liabilities:60347610294493525
Stockholders' equity
Stockholders' equity attributable to parent94171170538819519688
Common stock0000000
Additional paid in capital1,6471,197958588371351217
Accumulated other comprehensive income (loss)(10)(7)(9)5   
Accumulated deficit(696)(479)(244)(206)(176)(156)(129)
Total stockholders' equity:94171170538819519688
TOTAL LIABILITIES AND EQUITY:1,5441,187807482244231113

Income statement (P&L) ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues775575412287206150110
Revenue, net287206150110
Cost of revenue(390)(278)(154)(103)(74)(59)(49)
Cost of goods and services sold   (46)(33)(27)(23)
Gross profit:3852972571831329161
Operating expenses(564)(544)(304)(214)(153)(117)(89)
Operating loss:(179)(247)(47)(30)(21)(26)(28)
Nonoperating income (expense)16500(1)(1)
Investment income, nonoperating1650000
Other nonoperating expense     (0) 
Interest and debt expense(39)(13)(0)(0)  (1)
Loss from continuing operations before equity method investments, income taxes:(217)(254)(41)(30)(21)(27)(30)
Other undisclosed income (loss) from continuing operations before income taxes(1)(1)(2)(1)  1
Loss from continuing operations before income taxes:(218)(255)(43)(31)(21)(27)(29)
Income tax benefit22051   
Net loss attributable to parent:(216)(235)(38)(29)(21)(27)(29)
Preferred stock dividends and other adjustments      (0)
Net loss available to common stockholders, diluted:(216)(235)(38)(29)(21)(27)(29)

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net loss:(216)(235)(38)(29)(21)(27)(29)
Comprehensive loss:(216)(235)(38)(29)(21)(27)(29)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(3)2(14)5   
Comprehensive loss, net of tax, attributable to parent:(219)(234)(52)(24)(21)(27)(29)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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