PhysicsWallah, India's only listed edtech firm, has revised its K-12 expansion plans in response to investor concerns. The company will now adopt an asset-light, online-led approach, focusing on partnerships with existing schools and limiting its K-12 revenue contribution to less than 1%. This decision follows a period of investor unease regarding the firm’s direction, particularly after its stock faced scrutiny post-listing. Co-founder Prateek Maheshwari emphasized that the shift is aimed at maintaining an online-first identity, which is crucial for the company's growth. PhysicsWallah reported a 35% increase in revenue from operations, reaching ₹3,900 crore, and a significant rise in EBITDA. The online segment, which accounted for 50% of revenues, is expected to grow further. The company’s strategy includes leveraging state boards and its Curious Junior platform to enhance early access to students while avoiding the complexities of managing physical schools. This pivot reflects a broader trend in the Indian edtech market, where consolidation is taking place, and PhysicsWallah aims to solidify its position as a leader in online education.