D2L, Inc.

D2L, Inc.

11.24
CAD
+0.25
(+2.27%)
0.04EPS
227.91P/E
498.81MMarket Cap
Dec 09Next Earn
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
1.96
2.07
2.39
4.48
3.18
3.41
3.78
3.97
4.08
Basic EPS, GAAP
-0.01
-0.11
-0.78
-2.88
-0.35
-0.07
0.47
0.16
0.03
Free Cash Flow per Basic Share
0.13
0.08
0.29
-0.02
- -
0.19
0.5
0.77
0.75
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
- -
-2.77
-3.54
1.25
1.02
1.05
1.55
1.56
1.32
Tangible Book Value per Share
- -
-2.77
-3.55
1.01
0.88
0.85
0.77
0.75
0.52
Basic Weighted Avg Shares
53
53
53
34
53
54
54
55
55
Sales/Revenue/Turnover
103
109
126
152
168
182
205
217
223
Operating Margin (%)
-1.84
-5.08
1.41
-49.19
-9.46
-3.9
3.02
5.77
5.22
Depreciation Expense
4
3
3
3
4
3
4
5
5
Net Income, GAAP
-1
-6
-41
-98
-18
-4
26
9
2
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
31.46
73.03
Profit Margin (%)
-0.59
-5.22
-32.84
-64.3
-10.91
-1.94
12.53
4.12
0.73
Working Capital
- -
-20
-21
43
36
32
7
11
5
LT Debt
- -
3
2
1
12
12
10
10
9
Total Equity
- -
-146
-187
66
54
57
85
85
69
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
8.99
3.6
Return on Capital (%)
- -
- -
- -
- -
- -
- -
- -
10.21
2.2
Return on Common Equity (%)
- -
- -
- -
- -
-30.51
-6.38
36.32
10.56
2.11

Capital Structure

USD

•

in mil. unless spec.
Jan'26
Apr'27
Jul'27
ST Debt
2
2
2
LT Borrowings
- -
- -
- -
LT Finance Leases
10
10
9
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
54
55
53
Market Capitalization
446
380
356

Working Capital

USD

•

in mil. unless spec.
Jan'26
Apr'27
Jul'27
Total Current Assets
164
144
151
Cash, Cash Equivalents & STI
119
96
106
Accounts Receivable, Net
26
28
25
Inventories
- -
- -
- -
Total Current Liabilities
153
129
145
Payables & Accruals
40
31
29
ST Debt
2
2
2
Deferred Revenue
112
96
115

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
-19.9%
0.28%
Free Cash Flow
- -
1,837.97%
56.36%
Net Income, GAAP
- -
-183.58%
-65.15%
Sales/Revenue/Turnover
- -
11.57%
5.94%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
48
49
54
53
205
2026
53
55
54
56
217
2027
57
56
- -
- -
- -

Quarterly Earnings Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
0.01
- -
0.1
0.36
0.47
2026
0.06
0.05
0.08
-0.03
0.16
2027
0.03
-0.06
- -
- -
- -

Quarterly Dividends Per Share

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -

Company Description

CEO
John Baker
Full Time Employees
1,000
Sector
Technology services
Industry
Packaged software
Address
137 Glasgow Street Kitchener ON Canada N2G 4X8
IPO Date
Oct 28, 2021
Website
d2l.com
Business
D2L Inc. is a global learning technology company specializing in cloud-based learning software designed to serve higher education institutions, kindergarten to grade 12 (K-12) schools, and private sector enterprises. The company develops and markets its flagship product, Brightspace, a comprehensive learning management system (LMS) that facilitates personalized, flexible, and modern learning experiences online, in-class, or in hybrid environments. D2L's product suite also includes cloud-based platforms for employee, customer, and partner training and the Massive Open Online Course (MOOC) platform Open Courses. Additionally, D2L provides personalized services and support such as course design and development, onboarding, customer support, and optimization services. The company operates globally, with offices in Canada, the United States, Australia, Brazil, Europe, India, and Singapore. Founded in 1999 and headquartered in Kitchener, Ontario, Canada, D2L serves a broad range of customers across education and corporate sectors. In the last two years, D2L completed a significant strategic change by spinning off its D2L Wave offering into a new independent standalone company named SkillsWave, with majority ownership sold to the company's CEO John Baker, effective mid-2024. This move aligns with D2L's focus on balancing growth with profitability and enhancing operating leverage. The company also acquired Connected Shopping Ltd., the maker of Course Merchant, in 2023 to expand its product offerings. In 2024, D2L continued to expand its market share in North American higher education by enrollment and achieved notable financial growth, including an 11% revenue increase and a 14% rise in subscription and support revenue in recent quarters. D2L remains committed to innovation in learning technology, including integrating AI-enabled learning tools and providing advanced instructional design services, micro-credentialing, adaptive competency-based education, and accessible learning solutions. D2L operates primarily within the e-learning industry and education technology segments, targeting educational institutions, government sectors, and private businesses worldwide. Its product ecosystem supports millions of learners with learning management, instructional design, course building, analytics, and digital credentialing. The company maintains a focus on driving learning innovation through partnerships, technology integration, and personalized learning solutions that unlock student and employee potential at scale.

Company News

  • D2L Inc. (DTOL:CA) Q2 2027 Earnings Call Transcript

  • D2L Recognized as a Leader Across 15 G2 Summer 2026 Reports

  • D2L Announces Trust by Design Track at Fusion 2026

  • D2L Inc. (DTOL:CA) Shareholder/Analyst Call Prepared Remarks Transcript

  • Midwestern University Selects D2L to Support AI Innovation in Teaching and Learning

  • D2L Wins Platinum Club Designation in Canada's Best Managed Companies Program

  • SUNY and D2L Launch Educator-in-Residence Program to Advance Digital Learning Practices

  • D2L Announces Forbes Top 20 Speaker Liz Bohannon for D2L Fusion 2026 Keynote

  • D2L Survey Reveals How AI is Beginning to Reshape Entry-Level Work and the Talent Pipeline

  • D2L Launch Week Highlights Latest Product Releases

  • D2L Inc. (DTOL:CA) Q4 2026 Earnings Call Transcript

  • G2 Recognizes D2L Brightspace as One of the Best Education Software Products for 2026

  • D2L (OTCMKTS:DTLIF) Shares Down 1.2% – What’s Next?

  • D2L Inc. (DTOL:CA) Q3 2026 Earnings Call Transcript

  • D2L (OTCMKTS:DTLIF) Trading Up 2.1% – Time to Buy?

  • D2L Survey Finds AI-Enabled Learning Tools Can Help Unlock Time Savings for Higher Ed Professionals

  • D2L and 1EdTech Partner to Streamline Certification Access and Expand Availability of Trusted Solutions for Institutions

  • D2L Inc. (DTOL:CA) Q2 2026 Earnings Call Transcript

  • Global Education and Business Leaders Witnessed Learning Innovation at D2L Fusion 2025

  • D2L Announces Createspace to Help Simplify Course Creation with Real-Time Collaboration