Northcoders reports record financial results

A Leeds-based technology training provider has reported record financial results. 

Northcoders, a leader in the UK’s tech education sector, posted £8.8 million in revenue and £5.9 million in gross profit for the year ending December 31, 2024, driven by an expanding course offering and increased demand for tech skills.

This equated to a 24 per cent increase in revenue and a 34 per cent rise in gross profit, while the company’s gross profit margin improved to 67 per cent, which bosses say reflected “Northcoders’ growing national reputation” and efficient operations despite economic challenges.

Meanwhile, the number of individuals trained grew by 39 per cent to 3976, with the network of hiring partners increasing to 510. 

Northcoders’ consultancy arm, Counter®, also continued to gain traction, winning five new mandates. 

With a positive shift in corporate engagement, the company has secured a £1.5 million debt finance agreement and plans to launch a new AI and Machine Learning bootcamp in June 2025.

Chris Hill, chief executive of Northcoders, said: “Our record FY24 results are a testament to Northcoders’ growing national reputation as a leading provider of high-quality technology training. 

“Despite a challenging hiring market, we are successfully diversifying revenues and increasing profitability within the group.  

“Our growing curriculum of technology training courses, including in high demand areas like AI and machine learning, is supporting the inherent scalability of the Northcoders business model.

“As the UK looks to address the digital skills gap to drive innovation and economic recovery, the role Northcoders plays in developing tomorrow’s technology talent has never been more important. 

“By empowering individuals from all backgrounds to pursue careers in technology, we will more equitably and rapidly evolve the digital landscape.

“Looking ahead, FY25 has started promisingly. 

“While macro-economic challenges remain in the short term, we continue to be confident that, as the market improves, our quality training solutions and strategy will drive value for our shareholders.”

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