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 |
|
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:
|
|
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 |
|
|
|
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. |
|
|
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 |
|
|
|
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.
|