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:
Schedule of Total Revenue Attributable to Each Segment
As a percentage of total revenue |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
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:
Schedule of Operating Results for Segments
As a percentage of total revenue |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
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 |
|
As a percentage of total revenue |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
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. |
Schedule of Depreciation and Amortization Expenses
As a percentage of total revenue |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
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 |
|
Schedule of Segment Identifiable Assets
|
|
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 |
|
Our
long-lived assets in the U.S. were approximately $4.0 thousand and $1,000.0 thousand for the years ended December 31, 2020 and 2019,
respectively. Our international long-lived assets were approximately $0.1 thousand and $400.0 thousand, respectively, for the same periods.
|
Note
14—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:
Schedule of Total Revenue Attributable to Each Segment
As a percentage of total revenue |
|
2020 |
|
|
2019 |
|
|
|
Years Ended December 31, |
|
As a percentage of total revenue |
|
2020 |
|
|
2019 |
|
North America |
|
|
70.3 |
% |
|
|
72.1 |
% |
U.K. |
|
|
3.1 |
% |
|
|
5.5 |
% |
Other foreign markets |
|
|
26.6 |
% |
|
|
22.4 |
% |
Total consolidated revenue |
|
|
100.0 |
% |
|
|
100.0 |
% |
Operating
results for the segments are as follows:
Schedule of Operating Results for Segments
Segment revenue |
|
2020 |
|
|
2019 |
|
|
|
Years Ended December 31, |
|
Segment revenue |
|
2020 |
|
|
2019 |
|
|
|
(In thousands) |
|
North America |
|
$ |
24,001 |
|
|
$ |
54,427 |
|
U.K. |
|
|
1,058 |
|
|
|
4,128 |
|
Other foreign markets |
|
|
9,102 |
|
|
|
16,941 |
|
Total consolidated revenue |
|
$ |
34,161 |
|
|
$ |
75,496 |
|
|
|
2020 |
|
|
2019 |
|
|
|
Years Ended December 31, |
|
|
|
2020 |
|
|
2019 |
|
Segment gross profit contribution * |
|
(In thousands) |
|
North America |
|
$ |
15,852 |
|
|
$ |
12,195 |
|
U.K. |
|
|
949 |
|
|
|
983 |
|
Other foreign markets |
|
|
7,193 |
|
|
|
2,244 |
|
Total consolidated gross profit |
|
$ |
23,994 |
|
|
$ |
15,422 |
|
* |
Segment
gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expense. |
Schedule of Depreciation and Amortization Expenses
|
|
2020 |
|
|
2019 |
|
|
|
Years Ended December 31, |
|
|
|
2020 |
|
|
2019 |
|
Depreciation and amortization expenses |
|
(In thousands) |
|
North America |
|
$ |
45 |
|
|
$ |
137 |
|
U.K. |
|
|
14 |
|
|
|
20 |
|
Other foreign markets |
|
|
10 |
|
|
|
5 |
|
Total consolidated depreciation and amortization expenses |
|
$ |
69 |
|
|
$ |
162 |
|
Schedule of Segment Identifiable Assets
|
|
December 31, |
|
|
December 31, |
|
|
|
2020 |
|
|
2019 |
|
Segment identifiable assets |
|
(In thousands) |
|
North America |
|
$ |
3,864 |
|
|
$ |
9,937 |
|
U.K. |
|
|
1,266 |
|
|
|
2,324 |
|
Other foreign markets |
|
|
1,026 |
|
|
|
3,286 |
|
Total consolidated identifiable assets |
|
$ |
6,156 |
|
|
$ |
15,547 |
|
Our
long-lived assets in the U.S. were approximately $4.0 thousand and $1,000.0 thousand for the years ended December 31, 2020 and 2019,
respectively. Our international long-lived assets were approximately $0.1 thousand and $400.0 thousand, respectively, for the same periods.
|