Quarterly report pursuant to Section 13 or 15(d)

Segment Information

Segment Information

3 Months Ended

Mar. 31, 2020

Note 10 - 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 March 31,
As a percentage of total revenue	2020			2019
North America		84.4	%		73.3	%
U.K.		2.7	%		8.2	%
Other foreign markets		12.9	%		18.5	%
Total consolidated revenue		100.0	%		100.0	%

Operating results for the segments are as follows:

	Three Months Ended March 31,
Segment revenue	2020		2019
	(In thousands)
North America	$	8,537	$	14,987
U.K.		272		1,686
Other foreign markets		1,311		3,785
Total consolidated revenue	$	10,120	$	20,458

	Three Months Ended March 31,
	2020		2019
Segment gross profit contribution *	(In thousands)
North America	$	3,906	$	4,295
U.K.		224		377
Other foreign markets		613		(488	)
Total consolidated gross profit	$	4,743	$	4,184

Segment gross profit is calculated as revenue less direct course expenses, advertising and sales expenses and royalty expenses.

	Three Months Ended March 31,
	2020		2019
Depreciation and amortization expenses	(In thousands)
North America	$	14	$	31
U.K.		4		1
Other foreign markets		4		1
Total consolidated depreciation and amortization expenses	$	22	$	33

	March 31,		December 31,
	2020		2019
Segment identifiable assets	(In thousands)
North America	$	6,681	$	9,937
U.K.		3,683		4,135
Other foreign markets		2,300		3,286
Total consolidated identifiable assets	$	12,664	$	17,358