Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.21.1
Segment Information
12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
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.