Byju’s, an online learning platform, reported a revenue decline of 3.3% YoY to INR 24.28 billion (~USD 305.6 million) in FY2021 (ending March). This was due to the company adopting a new revenue recognition model which deferred ~40% of its revenue to FY2022. Byju's losses widened to USD 577.4 million in FY2021 compared to a loss of USD 32.9 million the previous year.

The company also stated that it generated gross revenue of USD 1.26 billion in FY2022 and a revenue of USD 570 million in the first four months of FY2023.

According to the company, the filing of audited accounts was delayed due to the Covid-19 pandemic and the complexity of accounting for numerous acquisitions in FY2021.

Byju’s stated that it has postponed its plans for going public this year due to uncertain macroeconomic conditions and is considering an IPO in 9–12 months. Additionally, the company is planning new funding round in the upcoming weeks and has made a bid to acquire US-based EdTech firm 2U.

The company also reported that it had paid a substantial amount of the USD 1 billion due for the Aakash acquisition to investor Blackstone and the two companies have mutually agreed to settle the balance amount at a future date. Moreover, the company confirmed that it is yet to receive USD 250 million from investors Sumeru and Oxshott from a funding round in March 2022.