The edtech sector is beginning to recover from the funding-led boom and bust of the Byju’s era, but the companies emerging stronger are following a markedly different playbook. Rather than chasing enrolments and revenue through heavy customer-acquisition spending, survivors are focusing on profitability, higher revenue per learner and multiple revenue streams.The shift is visible across K12 and test preparation, upskilling, study abroad and professional learning. For WestBridge Capital-backed PhysicsWallah, revenue from operations rose 35% year-on-year (YoY) to Rs 3,900 crore in FY26.