GoStudent Group Achieves Full-Year Operational Profitability in 2024, Marking a Pivotal Turnaround Year
GoStudent achieved operational profitability at group level for the first time with core EBITDA of €14 million, an improvement of €170 million in two years
Customer data confirms sustainability, with 11% longer contract terms online and 16% more referrals in our physical tutoring locations
Vienna, Austria, 2nd of September – GoStudent, one of the world’s leading tutoring providers and education platforms, today announced a major milestone: achieving operational profitability across the Group for the full year 2024, with a Core EBITDA of over €14 million. This marks a pivotal turnaround year for the company, underlining the strength of its reoriented business model and long-term strategy.
Following a transformative journey initiated in September 2022, GoStudent sharpened its focus on core revenue drivers, operational excellence, and cost optimization. In just two years, these efforts led to an EBITDA improvement of more than €170 million, firmly setting the company on a sustainable growth path. At the same time, customer satisfaction metrics also showed strong progress. The average contract duration in the Online business increased by 11% year-on-year, reflecting stronger retention, while offline centers saw a 16% rise in word-of-mouth-driven active contracts, indicating strong satisfaction and advocacy. These developments contributed to a 66% year-on-year improvement in the Group’s operational contribution margin.
While the IFRS-reported EBITDA stood at –€4 million due to one-time costs related to discontinued activities, the audited financial statements confirm a Core EBITDA of +€14 million, adjusted for these non-recurring items. The GoStudent Group also achieved operational break-even, becoming operationally EBITDA positive from March 2024 onward through the remainder of the year, a milestone publicly confirmed by CEO Felix Ohswald in his TechCrunch interview. This marks a fundamental shift from previous years and highlights the resilience of the company’s operational model.
“2024 marks a defining year for GoStudent.” said Felix Ohswald, Co-Founder and CEO of GoStudent. “In the years of rapid growth that followed 2020 we scaled at speed into more than 24 countries while completing four acquisitions in parallel. That phase came with high cash burn and challenged the sustainability of our model. We went through one of the most challenging periods in our history, but with tough decisions, strict cost control, and the dedication of our team, we adapted to the new reality and turned losses into an operational profit of €14 million within just two years. This milestone gives me confidence that we can continue to scale sustainably and build a significantly profitable business for the long term.”
GoStudent has now laid the foundation for long-term, sustainable and profitable growth and is positioned to accelerate into 2025 and beyond. The company plans to invest in becoming a holistic education company, spanning both online and offline offerings, and exploring new verticals such as the GoStudent Franchise Program. Central to this ambition is the use of technology to reduce tutoring costs for families, drive personalization at scale and unlock long-term value for students, tutors, and families alike.
As part of its commitment to shape the future of learning, GoStudent will continue publishing its annual Future of Education Report, first launched in 2021, to track trends, challenges, and innovations shaping European education, helping to also inform the businesses long-term investment strategy.
About GoStudent:
GoStudent is one of the world’s leading tutoring providers and education platforms. Founded in Vienna, Austria, in 2016 by Felix Ohswald (CEO) and Gregor Müller (COO), the venture-backed unicorn has raised more than €675m from investors including Prosus, Left Lane Capital and SoftBank Vision Fund 2. Believing the future of education is hybrid, GoStudent has expanded its offering with the acquisition of Seneca Learning, Tus Media and offline tutoring business, Studienkreis. Together, these companies aim to unite the best of the online and offline world to unlock every child’s potential. Across its portfolio, GoStudent supports more than 10 million families each month. Learn more here: www.gostudent.org
Press Contact:
GoStudent Press Team l press@gostudent.org