Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.2
Segment Information
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Information

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
June 30,		     Six Months Ended
June 30,		  
As a percentage of total revenue   2020     2019     2020     2019  
North America     68.9 %     71.7 %     77.6 %     72.5 %
U.K.     1.8 %     3.6 %     2.3 %     6.0 %
Other foreign markets     29.3 %     24.7 %     20.1 %     21.5 %
Total consolidated revenue     100.0 %     100.0 %     100.0 %     100.0 %

 

Operating results for the segments are as follows:

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2020     2019     2020     2019  
Segment revenue   (In thousands)     (In thousands)  
North America   $ 5,366     $ 13,980     $ 13,903     $ 28,967  
U.K.     138       697       410       2,383  
Other foreign markets     2,281       4,820       3,592       8,605  
Total consolidated revenue   $ 7,785     $ 19,497     $ 17,905     $ 39,955  

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2020     2019     2020     2019  
Segment gross profit contribution *   (In thousands)     (In thousands)  
North America   $ 3,888     $ 3,472     $ 7,794     $ 7,767  
U.K.     222       (102 )     446       275  
Other foreign markets     2,144       451       2,757       (37 )
Total consolidated gross profit   $ 6,254     $ 3,821     $ 10,997     $ 8,005  

 

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

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2020     2019     2020     2019  
Depreciation and amortization expenses   (In thousands)     (In thousands)  
North America   $ 14     $ 41     $ 28     $ 72  
U.K.     3       18       7       19  
Other foreign markets     3       1       7       2  
Total consolidated depreciation and amortization expenses   $ 20     $ 60     $ 42     $ 93  

 

    June 30,     December 31,  
    2020     2019  
Segment identifiable assets   (In thousands)  
North America   $ 5,614     $ 9,937  
U.K.     3,686       4,135  
Other foreign markets     2,603       3,286  
Total consolidated identifiable assets   $ 11,903     $ 17,358