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  "documentTitle": "2U, Inc. (TWOU)",
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  "presentationDate": "2018-07-19 00:00:00",
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  "notes": "Contains two primary tables: '2016 Top Ten Programs Based On New Student Enrollment' and '2016 Revenues per Program Estimates'.",
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      "text": "To estimate 2016 revenues per program, we used the following data and estimates: Revenue cohort assumptions, company filings, new student enrollment, and tuition data.",
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      "text": "To estimate 2016 revenues per program, we used the following data and estimates: Our revenue cohort assumptions for 2016, 2016 revenues by school disclosed in company filings, 2016 top ten programs by new student enrollment, Tuition data (credits to complete degree and cost per credit) obtained on schools websites where available, UNC enrollment data (from FOIA request).",
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      "text": "Source: Company Filings and Spruce Point Estimates. (1) Top ten programs were disclosed in the 1Q17 company presentation on March 6, 2017. (2) Obtained via UNC FOIA request. Calendar year 2015 starts were 479",
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