Coding Ninjas is an online placements and code learning platform that announced a 3.4 percent increase in operational revenue to Rs 53.3 crore in FY24. The startup provides a digital platform offering courses on computer languages like Java, CPP, python, and more. The application provides content and resources to learn coding and get placement opportunities through its online platform. The company earns its revenue through the fees from students for its online coaching services and the commission earned on the cost to the company for students who get placed through the program.
Entrackr mentioned in its report that the firm also earns income through the universities or corporate clients that pay for these services. The company saw a 22 percent decrease in its losses to Rs 52.63 crore in FY24. The overall gross revenue generated was around Rs 58.22 crore. This includes money from interest and gains on financial assets worth Rs 4.91 crore. The company has secured over 6.07 million USD across two funding rounds since its inception, including $876k raised during its series A funding round from Info Edge. The data intelligence platform, tracxn mentioned that the company’s post-money valuation was around $66.6 million in October 2022.
The Delhi-based startup provides coding courses designed to help students master competitive programming and data science along with the interview preparations. The online platform uses advanced technologies to provide the best learning experience. This edtech startup provides users with various computer language courses based on software design and application. The employee benefits increased the total costs by 6.64 percent to Rs 53.61 crore in FY24. The total expenditure of the firm increased by 12.2 percent to Rs 109.2 crore in the same duration.
The startup data intelligence platform, thekredible mentioned that Info Edge invested around $22 million in the firm across three funding rounds. Info Edhe increased its stake to 51 percent in Coding Ninjas with the investment worth $17 million. The legal and professional charges increased by 200 percent to Rs 10 crore in FY24. The promotional and advertising expenses account for 22.4 percent of the total expenditure and saw a 15.5 percent decline to Rs 26.69 crore in the same duration. The EBITDA margin also stood at -72.45 percent while the ROCE was around -337.30 percent.
Conclusion :
Coding Ninjas announced a 3.4 percent increase in its operational revenue to Rs 53.3 crore in FY24. This online coding and placement offering platform provides computer language courses including Java, Python, etc. These coaching services and interest or gain on financial assets are the firm’s primary sources of revenue.
The profit also decreased by 21.9 percent to Rs 52.63 crore in FY24. The total expenditure of the firm saw a 12.2 percent growth and crossed Rs 109.2 crore in the same duration. The company has raised around $6.07 million across two rounds since its inception. Coding Ninjas faces competition from other programming bootcamp and online coaching platforms such as Kenzie, Thinkful, and more.
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