Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.2
Segment Information
 9 Months Ended
Sep. 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
September 30,		     Nine Months Ended
September 30,		  
As a percentage of total revenue   2020     2019     2020     2019  
North America     79.4 %     65.6 %     78.2 %     70.0 %
U.K.     0.5 %     4.2 %     1.7 %     5.4 %
Other foreign markets     20.1 %     30.2 %     20.1 %     24.6 %
Total consolidated revenue     100.0 %     100.0 %     100.0 %     100.0 %

 

Operating results for the segments are as follows:

 

    Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
    2020     2019     2020     2019  
Segment revenue   (In thousands)     (In thousands)  
North America   $ 7,285     $ 14,452     $ 21,188     $ 43,419  
U.K.     47       935       457       3,318  
Other foreign markets     1,849       6,668       5,441       15,273  
Total consolidated revenue   $ 9,181     $ 22,055     $ 27,086     $ 62,010  

 

    Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
    2020     2019     2020     2019  
Segment gross profit contribution *   (In thousands)     (In thousands)  
North America   $ 6,001     $ 2,559     $ 13,795     $ 10,326  
U.K.     13       108       459       383  
Other foreign markets     1,353       2,611       4,110       2,574  
Total consolidated gross profit   $ 7,367     $ 5,278     $ 18,364     $ 13,283  

 

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

 

    Three Months Ended
September 30,		     Nine Months Ended
September 30,		  
    2020     2019     2020     2019  
Depreciation and amortization expenses   (In thousands)     (In thousands)  
North America   $ 8     $ 24     $ 36     $ 96  
U.K.     4       0       11       19  
Other foreign markets     1       1       8       3  
Total consolidated depreciation and amortization expenses   $ 13     $ 25     $ 55     $ 118  

 

    September 30,     December 31,  
    2020     2019  
Segment identifiable assets   (In thousands)  
North America   $ 5,857     $ 16,433  
U.K.     2,080       2,504  
Other foreign markets     2,115       4,272  
Total consolidated identifiable assets   $ 10,052     $ 23,209