Hacker News Reader

Comment by granzymes | Hacker News Reader

  FY Ended December 31, in millions except percentage

                 |  2019  |  2020  |  YoY  
  ---------------|--------|--------|-------
  revenue        | $184   | $294   | 60%   
  gross profit   | $95    | $155   | 63%   
  op ex          | $143   | $221   | 55%   
  net (loss)     | $(47)  | $(67)  | (43)%  
  (loss) ex SBC  | $(31)  | $(50)  | (61)%  
  free cash flow | $(31)  | $(27)  | 15%   
 
  total users    | 46     | 77     | 67%   
  net retention  | 106%   | 114%   | --

View on HN

What do they spend all that op ex on?

Rent, marketing, affiliates, IP, etc

I didn't include the breakdown for the sake of brevity (and also because with only 3 categories it is quite nebulous) but here you go.

  In thousands, except percentage

                             |  2019   |  2020    | YoY
  ---------------------------|---------|----------|-----
  research and development   | $56,364 | $76,784  | 36%
  sales and marketing        | $57,042 | $107,249 | 88%
  general and administrative | $29,810 | $37,215  | 25%

Wow, didn't expect them to spend so much money on marketing. Given that they are now registered as a public benefit corporation wouldn't this money be better spent as "scholarships" or something for their courses for students who can't afford the fees. I would assume that if they are actually providing a worthwhile public service, then word of mouth should bring in enough users rather than having to spend most of their opex on marketing.

Price to earnings ratio is at an all time high, once the credit bubble bursts, so will the investors appetite for such companies.

You have absolutely no clue what will happen or when.

Reply on news.ycombinator.com