| Segment Information |
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:
| |
|
Years Ended December 31, |
|
| As a percentage of total revenue |
|
2019 |
|
|
2018 |
|
| North America |
|
|
72.1 |
% |
|
|
69.6 |
% |
| U.K. |
|
|
5.5 |
% |
|
|
4.2 |
% |
| Other foreign markets |
|
|
22.4 |
% |
|
|
26.2 |
% |
| Total consolidated revenue |
|
|
100.0 |
% |
|
|
100.0 |
% |
Operating
results for the segments are as follows:
| |
|
Years Ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Segment revenue |
|
(In thousands) |
|
| North America |
|
$ |
54,427 |
|
|
$ |
53,049 |
|
| U.K. |
|
|
4,128 |
|
|
|
3,229 |
|
| Other foreign markets |
|
|
16,941 |
|
|
|
19,891 |
|
| Total consolidated revenue |
|
$ |
75,496 |
|
|
$ |
76,169 |
|
| |
|
Years Ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Segment gross profit contribution * |
|
(In thousands) |
|
| North America |
|
$ |
12,273 |
|
|
$ |
6,157 |
|
| U.K. |
|
|
997 |
|
|
|
883 |
|
| Other foreign markets |
|
|
2,244 |
|
|
|
848 |
|
| Total consolidated gross profit |
|
$ |
15,514 |
|
|
$ |
7,888 |
|
|
* |
Segment
gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expense. |
| |
|
Years Ended December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Depreciation and amortization expenses |
|
(In thousands) |
|
| North America |
|
$ |
137 |
|
|
$ |
103 |
|
| U.K. |
|
|
20 |
|
|
|
— |
|
| Other foreign markets |
|
|
5 |
|
|
|
6 |
|
| Total consolidated depreciation and amortization expenses |
|
$ |
162 |
|
|
$ |
109 |
|
| |
|
December 31, |
|
|
December 31, |
|
| |
|
2019 |
|
|
2018 |
|
| Segment identifiable assets |
|
(In thousands) |
|
| North America |
|
$ |
9,937 |
|
|
$ |
11,566 |
|
| U.K. |
|
|
4,135 |
|
|
|
1,634 |
|
| Other foreign markets |
|
|
3,286 |
|
|
|
4,038 |
|
| Total consolidated identifiable assets |
|
$ |
17,358 |
|
|
$ |
17,238 |
|
Our long-lived assets
in the U.S. were approximately $1.0 million and $1.1 million for the years ended December 31, 2019 and 2018, respectively,
and our international long-lived assets were approximately $0.4 million and $0.7 million, respectively, for the same periods.
|