Sales rise for VR Education’s remote learning tools

Virtual learning company VR Education has reported strong sales growth driven by its flagship online platform, Engage.

The Waterford-based firm said revenue in the first six months of 2020 reached €681,000. That is 37pc higher than a year ago.

Chief executive David Whelan said the world’s adoption of remote working amid the Covid-19 pandemic has proved “transformational for VR Education”. He described the firm’s outlook as “brighter than ever – in stark contrast to the difficulties many corporates are experiencing with restrictions and shutdowns”.

Earnings before interest, tax, depreciation and amortisation (Ebitda) registered a loss of €0.9m, the same as in 2019.

But analysts said VR Education is well positioned for strong second-half sales, particularly for Engage.

That online virtual learning and corporate training platform generated 33pc of sales in the first half of 2020, up from 18pc a year ago.

A desktop version of Engage was released in December

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Life Science Tools and Reagents Market Huge Growth Opportunities and Trends to 2026

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Aug 28, 2020 (Market Insight Reports) —
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