IPO-Bound PhysicsWallah’s Paid Users Surge 153% to 4.46 Million in FY25

PhysicsWallah, one of India’s fastest-growing edtech platforms, which is eyeing an initial public offering (IPO), has made remarkable strides in FY25. The company’s paid user base has surged by 153.4% to 4.46 million in FY25, up from 1.76 million in FY23, positioning it as a leader in the online education space.

PhysicsWallah’s Impressive Growth in Paid Users

IPO-bound PhysicsWallah’s growth is driven by its expanding offerings and strong user engagement. In FY25, the platform recorded 4.13 million unique transacting users on its online channel, contributing to its overall growth. The company’s paid user base grew significantly, reflecting its ability to scale and reach more students, from just 1.76 million in FY23 to 4.46 million in FY25. This 153% increase in paid users showcases the platform’s growing dominance in the education market.

Expansion Across Education Categories and Digital Presence

Along with the increase in paid users, PhysicsWallah expanded its educational offerings to 13 categories in FY25. The company, which started with free YouTube courses, now operates a diverse ecosystem that includes online platforms, tech-enabled offline centres, and hybrid two-teacher classrooms.

As of July 15, 2025, the flagship YouTube channel, "Physics Wallah – Alakh Pandey," had amassed 13.7 million subscribers. Collectively, the company’s digital presence rose to a staggering 98.8 million subscribers across 207 YouTube channels by June 2025, growing at a compound annual growth rate (CAGR) of 41.8% from FY23 to FY25.

Increased Engagement and Average Collection per User

PhysicsWallah also saw an increase in user engagement. Its daily active users surged from 0.93 million in FY23 to 2.70 million in FY25. Furthermore, the average student engagement time grew from 93 minutes to 111 minutes per day. The company’s average collection per online user (ACPU) rose to ₹3,682.79 in FY25, a significant achievement considering the scale of its operations.

Read More: Veranda Learning Crosses 1.5 Lakh Student Enrolments in H1 FY26!

Growth in Physical Centres and App Downloads

PhysicsWallah has expanded its physical presence as well. As of March 2025, it operated 198 physical centres across 109 cities in India and the Middle East. In addition, its 14 dedicated apps have been downloaded a cumulative 64.5 million times by March 2025, further solidifying its position as a major player in the online education sector.

Diversification and Future Plans

Looking ahead, PhysicsWallah plans to diversify into professional skills development and upskilling courses. The company has already launched apps such as PW MedEd for NEET PG, PW Curious Jr. for early learners, and Utkarsh for government exams, expanding across the entire education lifecycle. This shift marks a significant step in PhysicsWallah’s plans to cater to a broader range of learners, from school students to professionals seeking career advancement.

Conclusion

PhysicsWallah’s impressive growth in FY25, marked by a 153% increase in paid users and a rise in engagement metrics, positions the company for further success. With its expansion into new education categories and diversification into professional skills, PhysicsWallah is well on track to solidify its leadership in the edtech sector.

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