Berlin-based EdTech company Amboss, which has helped medical students prepare for exams since 2012, increased its revenue to nearly €27 million in the 2021 financial year. That represents growth of around 47 percent compared with previous years. Despite the continued impact of the pandemic, the company benefited from the global digitalization of healthcare and education.
The company, formerly known as miamed, recently published its 2021 annual financial statements. Its net loss rose slightly to just under €11.8 million, up from €10.9 million a year earlier. One of the main cost drivers was personnel spending, which climbed by 32 percent to €27.5 million as Amboss continued to grow its team. By the end of 2021, the company employed an average of 389 people, compared with 339.5 in the previous year.
A closer look at revenue shows that the German-language product platform accounted for 53 percent of total sales, contributing €14.38 million. The English-language platform generated 46 percent, or €12.399 million, while the remaining 1 percent, €212,000, came from other revenue streams.
Amboss is planning to expand further in the coming years, especially in the United States. For 2022, the company expected double-digit revenue growth alongside a moderately higher annual loss. Thanks to a capital increase completed in 2021, Amboss says it has sufficient financial resources to support its expansion plans.
Management said it was very satisfied with the company’s performance in 2021 and remains confident about its growth potential. According to the company, there are currently no identifiable risks that would threaten its long-term future.