2U sees FY24 revenue $805M-$815M, consensus $909.48M

Sees FY24 Net loss $90M-$85M; and adjusted EBITDA $120M-$125M. The company is undergoing a comprehensive performance improvement exercise, the potential results of which are not reflected in the guidance above. This effort aims to improve our profitability through cost control and contribution margin improvement across both segments, optimize our operating model, ensure staffing levels align with business priorities across functional areas, and deleverage our balance sheet. In addition, guidance assumes the following: no new portfolio management activities in 2024 and revenue from 2023 portfolio management activities of $10M in the Q1 and $15M in FY24. Sees FY24 CapEx $45M and weighted average shares outstanding of 85 million.