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Summary - Funding Rounds

Founding Date

2005
3P Learning is a subsidiary of IXL Learning

3P Learning Revenue Breakdown

Embed Graph

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

3P Learning Income Statement

Annual

AUDFY, 2016FY, 2017FY, 2018FY, 2019

Revenue

49.3m52.5m55.4m54.4m

Revenue growth, %

6%6%(2%)

Sales and marketing expense

3.1m2.0m2.0m1.8m

General and administrative expense

31.2m33.3m32.4m33.4m

Operating expense total

39.3m41.8m42.7m44.2m

Depreciation and amortization

5.1m6.5m8.3m9.1m

EBIT

9.5m11.3m8.9m

EBIT margin, %

18%20%16%

Interest expense

649.0k1.1m624.0k138.0k

Pre tax profit

5.5m(8.8m)(14.6m)8.7m

Income tax expense

1.9m(1.6m)4.1m2.8m

Net Income

3.7m(7.3m)(18.7m)5.9m

Half Year

AUDH1, 2016H1, 2017H1, 2018H1, 2019H1, 2020

Revenue

22.9m25.1m28.3m23.8m23.0m

Sales and marketing expense

1.6m812.0k1.1m655.0k1.0m

General and administrative expense

13.7m15.2m16.3m15.8m17.6m

Operating expense total

17.6m19.3m21.4m21.1m24.2m

Depreciation and amortization

2.4m3.3m4.0m4.6m5.6m

EBIT

5.2m6.2m2.4m(1.9m)

EBIT margin, %

21%22%10%(8%)

Interest expense

309.0k632.0k323.0k88.0k148.0k

Pre tax profit

4.3m(11.6m)5.9m2.3m(2.1m)

Income tax expense

1.1m(2.8m)1.1m338.0k(211.0k)

Net Income

3.2m(8.8m)4.8m2.0m(1.9m)

3P Learning Balance Sheet

Annual

AUDFY, 2016FY, 2017FY, 2018FY, 2019

Cash

4.3m3.3m23.0m25.8m

Accounts Receivable

7.1m6.1m4.6m9.0m

Current Assets

12.3m11.8m29.8m36.6m

PP&E

1.2m1.1m926.0k1.0m

Total Assets

98.9m83.3m55.1m62.2m

Accounts Payable

1.3m1.7m1.9m1.9m

Short-term debt

9.0k10.0k12.0k14.0k

Current Liabilities

41.5m36.7m33.7m33.5m

Long-term debt

11.5m9.5m18.0k4.0k

Non-Current Liabilities

13.8m12.2m2.4m4.1m

Total Debt

11.5m9.5m30.0k18.0k

Total Liabilities

55.4m48.9m36.1m37.6m

Common Stock

34.0m34.1m34.2m34.4m

Retained Earnings

2.2m(4.9m)(23.7m)(17.8m)

Total Equity

43.5m34.4m19.0m24.6m

Debt to Equity Ratio

0.3 x0.3 x0 x0 x

Debt to Assets Ratio

0.1 x0.1 x0 x0 x

Financial Leverage

2.3 x2.4 x2.9 x2.5 x

Half Year

AUDH1, 2016H1, 2017H1, 2018H1, 2019H1, 2020

Cash

3.1m4.2m3.5m10.1m12.5m

Accounts Receivable

22.9m26.8m11.1m10.0m

Current Assets

12.3m28.1m31.5m23.4m25.2m

PP&E

774.0k1.1m1.0m1.1m774.0k

Total Assets

72.6m106.5m105.1m49.7m56.6m

Accounts Payable

1.3m1.2m948.0k712.0k922.0k

Short-term debt

35.0k9.0k11.0k13.0k1.5m

Current Liabilities

25.9m43.0m42.0m26.3m26.5m

Long-term debt

4.5m24.5m20.0m11.0k4.0m

Non-Current Liabilities

7.8m28.4m24.1m2.4m7.1m

Total Debt

4.5m24.5m20.0m24.0k5.6m

Total Liabilities

33.7m71.4m66.2m28.7m33.6m

Common Stock

30.3m34.1m34.2m34.4m34.4m

Retained Earnings

1.6m(6.7m)(112.0k)(21.7m)(19.6m)

Total Equity

38.9m35.1m38.9m21.1m23.0m

Debt to Equity Ratio

0.1 x0.7 x0.5 x0 x0.2 x

Debt to Assets Ratio

0.1 x0.2 x0.2 x0 x0.1 x

Financial Leverage

1.9 x3 x2.7 x2.4 x2.5 x

3P Learning Cash Flow

Annual

AUDFY, 2016FY, 2017FY, 2018FY, 2019

Accounts Receivable

59.5m59.8m58.8m63.2m

Accounts Payable

(45.4m)(42.8m)(43.9m)(49.5m)

Cash From Operating Activities

11.7m14.7m14.0m12.2m

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)19.4m2.7m

Interest Paid

359.0k1.1m707.0k138.0k

Income Taxes Paid

2.2m1.2m230.0k1.7m

Half Year

AUDH1, 2016H1, 2017H1, 2018H1, 2019H1, 2020

Accounts Receivable

17.7m16.0m14.4m15.6m19.4m

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

2.1m13.0m10.5m(6.0k)(671.0k)

Net Change in Cash

(27.8m)(48.0k)182.0k(12.8m)(13.4m)

Interest Paid

224.0k480.0k318.0k88.0k148.0k

Income Taxes Paid

226.0k750.0k127.0k1.1m798.0k

3P Learning Ratios

AUDH1, 2016

Debt/Equity

0.1 x

Debt/Assets

0.1 x

Financial Leverage

1.9 x

3P Learning Operating Metrics

FY, 2016FY, 2017FY, 2018FY, 2019

Countries (Offices)

11

Countries Covered

100100100

Educators

240250250

Schools Served

17 k17 k16.5 k17.4 k

Students Trained

5.6 m5.5 m5 m4.6 m