## Founding Date | 2005 |

3P Learning is a subsidiary of IXL Learning

3P Learning revenue breakdown by geographic segment: 15.8% from Americas, 61.9% from APAC and 22.4% from EMEA

AUD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Revenue | 49.3m | 52.5m | 55.4m | 54.4m |

| 6% | 6% | (2%) | |

## Sales and marketing expense | 3.1m | 2.0m | 2.0m | 1.8m |

## General and administrative expense | 31.2m | 33.3m | 32.4m | 33.4m |

## Operating expense total | 39.3m | 41.8m | 42.7m | 44.2m |

## Depreciation and amortization | 5.1m | 6.5m | 8.3m | 9.1m |

## EBIT | 9.5m | 11.3m | 8.9m | |

| 18% | 20% | 16% | |

## Interest expense | 649.0k | 1.1m | 624.0k | 138.0k |

## Pre tax profit | 5.5m | (8.8m) | (14.6m) | 8.7m |

## Income tax expense | 1.9m | (1.6m) | 4.1m | 2.8m |

## Net Income | 3.7m | (7.3m) | (18.7m) | 5.9m |

AUD | H1, 2016 | H1, 2017 | H1, 2018 | H1, 2019 | H1, 2020 |
---|---|---|---|---|---|

## Revenue | 22.9m | 25.1m | 28.3m | 23.8m | 23.0m |

## Sales and marketing expense | 1.6m | 812.0k | 1.1m | 655.0k | 1.0m |

## General and administrative expense | 13.7m | 15.2m | 16.3m | 15.8m | 17.6m |

## Operating expense total | 17.6m | 19.3m | 21.4m | 21.1m | 24.2m |

## Depreciation and amortization | 2.4m | 3.3m | 4.0m | 4.6m | 5.6m |

## EBIT | 5.2m | 6.2m | 2.4m | (1.9m) | |

| 21% | 22% | 10% | (8%) | |

## Interest expense | 309.0k | 632.0k | 323.0k | 88.0k | 148.0k |

## Pre tax profit | 4.3m | (11.6m) | 5.9m | 2.3m | (2.1m) |

## Income tax expense | 1.1m | (2.8m) | 1.1m | 338.0k | (211.0k) |

## Net Income | 3.2m | (8.8m) | 4.8m | 2.0m | (1.9m) |

AUD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Cash | 4.3m | 3.3m | 23.0m | 25.8m |

## Accounts Receivable | 7.1m | 6.1m | 4.6m | 9.0m |

## Current Assets | 12.3m | 11.8m | 29.8m | 36.6m |

## PP&E | 1.2m | 1.1m | 926.0k | 1.0m |

## Total Assets | 98.9m | 83.3m | 55.1m | 62.2m |

## Accounts Payable | 1.3m | 1.7m | 1.9m | 1.9m |

## Short-term debt | 9.0k | 10.0k | 12.0k | 14.0k |

## Current Liabilities | 41.5m | 36.7m | 33.7m | 33.5m |

## Long-term debt | 11.5m | 9.5m | 18.0k | 4.0k |

## Non-Current Liabilities | 13.8m | 12.2m | 2.4m | 4.1m |

## Total Debt | 11.5m | 9.5m | 30.0k | 18.0k |

## Total Liabilities | 55.4m | 48.9m | 36.1m | 37.6m |

## Common Stock | 34.0m | 34.1m | 34.2m | 34.4m |

## Retained Earnings | 2.2m | (4.9m) | (23.7m) | (17.8m) |

## Total Equity | 43.5m | 34.4m | 19.0m | 24.6m |

## Debt to Equity Ratio | 0.3 x | 0.3 x | 0 x | 0 x |

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0 x | 0 x |

## Financial Leverage | 2.3 x | 2.4 x | 2.9 x | 2.5 x |

AUD | H1, 2016 | H1, 2017 | H1, 2018 | H1, 2019 | H1, 2020 |
---|---|---|---|---|---|

## Cash | 3.1m | 4.2m | 3.5m | 10.1m | 12.5m |

## Accounts Receivable | 22.9m | 26.8m | 11.1m | 10.0m | |

## Current Assets | 12.3m | 28.1m | 31.5m | 23.4m | 25.2m |

## PP&E | 774.0k | 1.1m | 1.0m | 1.1m | 774.0k |

## Total Assets | 72.6m | 106.5m | 105.1m | 49.7m | 56.6m |

## Accounts Payable | 1.3m | 1.2m | 948.0k | 712.0k | 922.0k |

## Short-term debt | 35.0k | 9.0k | 11.0k | 13.0k | 1.5m |

## Current Liabilities | 25.9m | 43.0m | 42.0m | 26.3m | 26.5m |

## Long-term debt | 4.5m | 24.5m | 20.0m | 11.0k | 4.0m |

## Non-Current Liabilities | 7.8m | 28.4m | 24.1m | 2.4m | 7.1m |

## Total Debt | 4.5m | 24.5m | 20.0m | 24.0k | 5.6m |

## Total Liabilities | 33.7m | 71.4m | 66.2m | 28.7m | 33.6m |

## Common Stock | 30.3m | 34.1m | 34.2m | 34.4m | 34.4m |

## Retained Earnings | 1.6m | (6.7m) | (112.0k) | (21.7m) | (19.6m) |

## Total Equity | 38.9m | 35.1m | 38.9m | 21.1m | 23.0m |

## Debt to Equity Ratio | 0.1 x | 0.7 x | 0.5 x | 0 x | 0.2 x |

## Debt to Assets Ratio | 0.1 x | 0.2 x | 0.2 x | 0 x | 0.1 x |

## Financial Leverage | 1.9 x | 3 x | 2.7 x | 2.4 x | 2.5 x |

AUD | FY, 2016 | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|---|

## Accounts Receivable | 59.5m | 59.8m | 58.8m | 63.2m |

## Accounts Payable | (45.4m) | (42.8m) | (43.9m) | (49.5m) |

## Cash From Operating Activities | 11.7m | 14.7m | 14.0m | 12.2m |

## Purchases of PP&E | (912.0k) | (364.0k) | (269.0k) | (425.0k) |

## Cash From Investing Activities | (47.4m) | (13.7m) | 14.9m | (9.4m) |

## Long-term Borrowings | (6.0m) | (20.5m) | (23.0m) | (12.0k) |

## Dividends Paid | (2.4m) | |||

## Cash From Financing Activities | 9.1m | (2.0m) | (9.5m) | (12.0k) |

## Net Change in Cash | (26.6m) | (994.0k) | 19.4m | 2.7m |

## Interest Paid | 359.0k | 1.1m | 707.0k | 138.0k |

## Income Taxes Paid | 2.2m | 1.2m | 230.0k | 1.7m |

AUD | H1, 2016 | H1, 2017 | H1, 2018 | H1, 2019 | H1, 2020 |
---|---|---|---|---|---|

## Accounts Receivable | 17.7m | 16.0m | 14.4m | 15.6m | 19.4m |

## Accounts Payable | (22.1m) | (19.5m) | (19.1m) | (22.9m) | (26.5m) |

## Cash From Operating Activities | (4.8m) | (4.7m) | (5.2m) | (8.3m) | (7.9m) |

## Purchases of PP&E | (269.0k) | (145.0k) | (182.0k) | (304.0k) | (85.0k) |

## Cash From Investing Activities | (25.1m) | (8.3m) | (5.1m) | (4.5m) | (4.8m) |

## Long-term Borrowings | (2.5m) | (505.0k) | (6.0k) | (671.0k) | |

## Dividends Paid | (2.4m) | ||||

## Cash From Financing Activities | 2.1m | 13.0m | 10.5m | (6.0k) | (671.0k) |

## Net Change in Cash | (27.8m) | (48.0k) | 182.0k | (12.8m) | (13.4m) |

## Interest Paid | 224.0k | 480.0k | 318.0k | 88.0k | 148.0k |

## Income Taxes Paid | 226.0k | 750.0k | 127.0k | 1.1m | 798.0k |

AUD | H1, 2016 |
---|---|

## Debt/Equity | 0.1 x |

## Debt/Assets | 0.1 x |

## Financial Leverage | 1.9 x |