| Segment Information |
Note
11 - Segment Information
We
manage our business in three segments based on geographic location for which operating managers are responsible to the Chief Executive
Officer. These segments include: (i) North America, (ii) United Kingdom, and (iii) Other Foreign Markets. Operating results, as reported
below, are reviewed regularly by our Chief Executive Officer, or Chief Operating Decision Maker (“CODM”) and other members
of the executive team.
The
proportion of our total revenue attributable to each segment is as follows:
| |
|
Three
Months Ended
September 30, |
|
|
Nine
Months Ended
September 30, |
|
| As a percentage of total revenue |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| North America |
|
|
100.0 |
% |
|
|
97.0 |
% |
|
|
63.5 |
% |
|
|
96.7 |
% |
| U.K. |
|
|
— |
% |
|
|
0.6 |
% |
|
|
36.5 |
% |
|
|
1.1 |
% |
| Other
foreign markets |
|
|
— |
% |
|
|
2.4 |
% |
|
|
— |
% |
|
|
2.2 |
% |
| Total
consolidated revenue |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
|
100.0 |
% |
Operating
results for the segments are as follows:
| |
|
Three
Months Ended
September 30, |
|
|
Nine
Months Ended
September 30, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Segment revenue |
|
(In thousands) |
|
|
(In thousands) |
|
| North
America |
|
$ |
1,379 |
|
|
$ |
7,211 |
|
|
$ |
4,672 |
|
|
$ |
20,851 |
|
| U.K. |
|
|
— |
|
|
|
47 |
|
|
|
2,689 |
|
|
|
245 |
|
| Other
foreign markets |
|
|
— |
|
|
|
181 |
|
|
|
— |
|
|
|
468 |
|
| Total
consolidated revenue |
|
$ |
1,379 |
|
|
$ |
7,439 |
|
|
$ |
7,361 |
|
|
$ |
21,564 |
|
| |
|
Three
Months Ended
September 30, |
|
|
Nine
Months Ended
September 30, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Segment gross profit contribution * |
|
(In thousands) |
|
|
(In thousands) |
|
| North America |
|
$ |
(16 |
) |
|
$ |
5,951 |
|
|
$ |
1,919 |
|
|
$ |
13,625 |
|
| U.K. |
|
|
(10 |
) |
|
|
13 |
|
|
|
2,199 |
|
|
|
312 |
|
| Other foreign
markets |
|
|
1 |
|
|
|
168 |
|
|
|
1 |
|
|
|
505 |
|
| Total
consolidated gross profit |
|
$ |
(25 |
) |
|
$ |
6,132 |
|
|
$ |
4,119 |
|
|
$ |
14,442 |
|
| * |
Segment
gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expenses. |
| |
|
Three
Months Ended
September 30, |
|
|
Nine
Months Ended
September 30, |
|
| |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
| Depreciation and amortization expenses |
|
(In thousands) |
|
|
(In thousands) |
|
| North America |
|
$ |
— |
|
|
$ |
8 |
|
|
$ |
2 |
|
|
$ |
36 |
|
| U.K. |
|
|
— |
|
|
|
4 |
|
|
|
2 |
|
|
|
11 |
|
| Other
foreign markets |
|
|
— |
|
|
|
(1 |
) |
|
|
— |
|
|
|
— |
|
| Total
consolidated depreciation and amortization expenses |
|
$ |
— |
|
|
$ |
11 |
|
|
$ |
4 |
|
|
$ |
47 |
|
| |
|
September 30, |
|
|
December 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Segment identifiable assets |
|
(In thousands) |
|
| North America |
|
$ |
1,774 |
|
|
$ |
3,834 |
|
| U.K. |
|
|
125 |
|
|
|
1,266 |
|
| Other
foreign markets |
|
|
183 |
|
|
|
192 |
|
| Total
consolidated identifiable assets |
|
$ |
2,082 |
|
|
$ |
5,292 |
|
|