Financial Highlights and Margin Progression
Consolidated Revenue Growth.
(in $ millions)
Alternative Credential
Degree Program
232.5
237.2
215.3
201.1
182.7
9]
86.6
84.8
79.0
67.0
232.4
253.3
243.6
241.5
99.1
91.2
91
84.6
98.4
145.9
146.2
147.8
152.4
154.2
143.1
130.5
115.7
122
2Q'20
3Q'20
4Q'20
1Q'21
2Q'21
3Q'21
4Q'21
1Q'22
2Q'22
Y/Y Growth
35%
31%
32%
32%
30%
16%
13%
9%
2%
D.P. Y/Y Growth
14%
18%
21%
23%
26%
21%
17%
6%
(2%)
A.C. Y/Y Growth
Organic Y/Y Growth¹
97%
57%
54%
52%
36%
7%
8%
15%
8%
18%
31%
32%
32%
30%
16%
11%
4%
(2%)
20 edx (1)
Organic growth for each quarter excludes all revenue from acquisitions completed since the start of the prior-year quarter where applicable. The acquisition of Trilogy was
completed May 22, 2019 and the acquisition of edX was completed November 16, 2021.
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