Manchester-based coding bootcamp provider, Northcoders, is experiencing a surge in demand for its courses, with a record 250% increase in new registrations from individuals seeking career transitions since the beginning of the year compared to the same period in 2023. The company anticipates that this trend will reach its peak next week, specifically on Tuesday, 9th, which is expected to see the highest number of applicants for new courses. The applications are coming from various locations across the UK, predominantly for the software development and data engineering bootcamps, both of which are 13 weeks long and scheduled to begin in March.
Northcoders also witnessed a 48% rise in the number of people searching for coding bootcamps over the Christmas period. This increase in bookings brings a sense of optimism to Northcoders shareholders, following a significant decline in the value of shares throughout 2023, including a sharp drop in September 2023 when the company issued a profit warning. Although the shares have not recovered to reach their previous value of £3 at the beginning of 2023, they have experienced a slight recovery from the low point of 125p and are currently trading at 135p.
The company reported sales of £3.5 million, up from £2.4 million the previous year, driven by the high demand for consumer bootcamp training. This drove revenues of £2.8 million in the first half of 2022, compared to £1.7 million in the same period of the previous year. The expansion into new disciplines and geographical areas contributed to this growth. However, the pre-tax profit of £118,176 in 2022 transformed into a pre-tax loss of £306,908 for the reporting period.
Many of Northcoders’ Skills Bootcamps are funded by the Department for Education. Sam Caine, the Chief Operating Officer at Northcoders, stated that the past few weeks have seen an unprecedented number of people applying for their courses. He attributed this increase to individuals utilizing the Christmas and New Year period as a time to reassess their goals and ambitions and make a fresh start in January. Whether it is the desire for more financial stability, better work-life balance, job fulfillment, or overall stability, people are increasingly seeking career opportunities in coding.
With the rising demand for coding skills and the appeal of a fast-track bootcamp program like Northcoders, the company is well-positioned to support individuals in making successful career transitions. By offering focused and intensive training in software development and data engineering, Northcoders is empowering individuals to acquire the skills needed for a thriving tech industry.
