Arco Platform, an educational software company that offers technology, services and content from kindergarten to high school, has announced a 2021 loss of 158.1 million reais (£25.7 million), compared to loss of 16.8 million reais reported for 2020.
Net revenue for 2021 was 1.23 million reais, down from 1 billion reais reported for 2020.
The São Paulo-based company also reported results for the fourth quarter of 2021. Its loss for the quarter was 5.8 million reais, compared to a loss of 24.2 million reais reported for Q4 2020. Revenue for the quarter was 460.8 million reais, up from 296.5 million reais reported for the fourth quarter of 2020.
Arco founder and chief executive Ari de Sá Cavalcante Neto said: “We are excited with the conclusion of our 2022 commercial cycle and the outlook for the school year. As schools returned to in-person classes and restrictions related to the Covid-19 pandemic were, and continue to be, gradually lifted, Arco resumed its growth trajectory, outpacing industry peers, as a result of our relentless pursuit of quality, superior value proposition and assertive go-to-market strategy.”
Date published: 1 April 2022