Second quarter revenue up 38% to $12.6 million on strong ARPU growth;
Adjusted EBITDA loss improves to $7.0
million
Surpassed $50
million ARR milestone in Q2
Thinkific reports in U.S. dollars and in accordance with
IFRS
VANCOUVER, BC, Aug. 4, 2022
/PRNewswire/ - Thinkific Labs Inc. ("Thinkific" or the "Company")
(TSX: THNC), a leading cloud-based software platform that enables
entrepreneurs and established businesses of all sizes to create,
market, and sell online learning products, today announced its
financial results for the quarter ended June 30, 2022.
"We continued to execute against our product-led growth
strategy, and our results were consistent with our expectations.
ARPU continues to drive revenue growth, increasing 18% to
$126 per month versus a year ago,"
said Greg Smith, Co-Founder and CEO
of Thinkific. "There is a large and growing market opportunity in
front of us," continued Mr. Smith. "I am confident that our
product roadmap, disciplined investments, and appropriate cost
structure will both enable our growth strategy and ensure our
return to profitability.
"Of course, our financial and operational performance are the
result of the success of our Creators. We continue to be
fanatical about supporting their success. We believe the
strength of our current suite of products, as well as our product
pipeline, will enable the success of our Creators. Most recently,
this includes tools that help our Creators "Sell More", so they can
more effectively scale and monetize their passion," concluded Mr.
Smith.
Second Quarter Financial
Highlights
- Revenue increased 38% to $12.6
million compared with the second quarter of 2021, driven by
year-over-year growth in total Paying Customers and increasing
ARPU(1).
- Gross margin was 76%, in line with second quarter of 2021,
driven by efficiencies within the Customer Support team, which were
partially offset by lower margins on Thinkific Payments
revenue.
- Net loss for the second quarter of 2022 was $10.1 million, compared to a net loss of
$5.3 million in the second quarter of
2021.
- Adjusted EBITDA(2) loss of $7.0 million was driven primarily by continued
investments in Sales & Marketing (S&M), and Research &
Development (R&D). While Adjusted EBITDA loss increased
relative to the same period last year, it decreased on a sequential
basis as a result of our restructuring, completed at the end of the
first quarter of 2022.
- Total Paying Customers(1) grew 14% to 33.3 thousand
in the second quarter of 2022, consistent with the first quarter of
2022, and our expectations.
- ARPU(1) increased 18%, to $126 per month compared with $107 in the second quarter of 2021, primarily
driven by customer upgrades, new Thinkific Plus customers,
increasing adoption of Thinkific Payments, as well as changes to
our pricing strategy.
- ARR(1) exceeded the $50.0
million mark, up 32% to $50.3
million from $38.1 million in
the second quarter of 2021, as we continued to attract new Creators
to our Platform, and existing Creators upgraded to higher-tier
plans. ARR also benefited from pricing changes introduced in the
second quarter of 2022.
- Thinkific Payments continued to be well received by Creators.
Gross Payments Volume(1) ("GPV"), which is the total
value of GMV(1) processed using Thinkific Payments, for
the second quarter, was $14.3
million. This represented 15% of the $97.9 million in GMV processed during the second
quarter of 2022.
- Continued to demonstrate financial strength, with a strong
balance sheet. Cash and cash equivalents were $105.3 million at the end of the second quarter
of 2022.
"Our Adjusted EBITDA loss this quarter of $7.0 million was a significant improvement from
recent trends," commented Corinne
Hua, CFO of Thinkific. "As we continue to grow the
top-line, we will be disciplined on our spend, and focus our
investments in a prudent manner. The tough decision we took earlier
this year to reduce our team was the right one, and we are seeing
the results of our improved cost structure."
|
(1) Key Performance
Indicators. See definition in "Key Performance
Indicators".
|
(2) Non-IFRS measure.
See "Non-IFRS Measures" and the reconciliation to the most directly
comparable IFRS measure.
|
Second Quarter Operational
Highlights
- Introduced TCommerce, building on our passion for helping
Creators sell their learning products. TCommerce brings together
Thinkific's selling tools and business management functions under
one brand, powered by Thinkific Payments. These features help
Creators build robust business models through product enhancements
that include:
-
- Sustainable income opportunities with improved subscription
selling tools including the capabilities to configure, upsell,
pause, resume and manage subscriptions.
- Improved coupon redemption, new reporting features, and 3D
Secure Strong Authentication.
- Flexible payment methods including the introduction of Apple
Pay and Google Pay to provide customers with easier and faster
checkout.
- Delivered on our product-led growth strategy with the
introduction of new features that are focused on making it easier
for Creators to launch a learning business. This includes our new
Creator welcome flow and automated app recommendations that surface
the right solutions for our Creators as they launch and scale their
business.
- Improved our value-based approach to pricing, simplifying our
pricing and packaging strategy, and improving visibility for
Thinkific Creators of their monthly fees.
- Released first-of-its-kind online learning 'Trends Report'
revealing key trends in the knowledge economy from top Creators.
The report highlighted that online content creation is the most
popular type of business entrepreneurs aspire to launch.
Highlights Subsequent to Quarter
End
- Introduced Bulk Selling features to our Plus customers. The
Bulk Selling feature is a game changer for Creators focused on B2B
sales, empowering them to sell and manage volume licenses for their
learning products.
- The fourth annual 'Think in Color' Summit, was held on
July 27, 2022. The virtual summit
which unites powerful, yet underrepresented, communities in the
Creator Economy, attracted thousands of entrepreneurs and SMB
participants. A speaker lineup of 100% women of color delivered
personal insights on all aspects of creating, marketing, and
scaling online courses and digital product-based businesses.
Other Corporate
Developments
- Announced changes to the Board of Directors. Melanie Kalemba joined the Board, effective
June 8, 2022, while Board Member Lisa
Shields resigned effective August 4,
2022. Ms. Kalemba brings extensive experience focused on
business development, sales and operations across a variety of
high-tech and e-commerce companies to the Board of Directors. Ms.
Shields was a guiding force during the IPO process and provided
expertise during the release and launch of Thinkific Payments.
Outlook
Thinkific is at the centre of the knowledge economy, and gives
businesses everything they need to build, market, and sell online
courses and other learning products, and to run their business
seamlessly under their own brand, on their own site.
Thinkific expects continued growth in revenue in the third
quarter of 2022, driven largely by ARPU expansion, as well as new
Paying Customers. Customer upgrades to higher priced plans, new
Thinkific Plus customers, higher penetration of Thinkific Payments,
and our revised pricing strategies all contribute to ARPU
growth.
Our expectations for the third quarter of 2022 are:
- revenue of $13.1 - $13.3 million, representing year-over-year growth
of 32% - 34%
- adjusted EBITDA loss in the range of $6.4 million to $7.0
million.
Actual results may differ materially from Thinkific's financial
outlook as a result of, among other things, the factors described
under "Forward-Looking Statements" below.
Quarterly Conference Call and
Webcast Information
A conference call will be held at 2:30 PM
PT (5:30 PM ET) on
August 4, 2022 to discuss Thinkific's
second quarter financial and operational results. To participate in
the call, please dial 1.888.664.6383 (US/Canada toll-free) or 1.416.764.8650
(International/Toronto). For those
unable to participate, a replay will be available commencing at
4:30 PM PT (7:30 PM ET) on August 4,
2022 by dialing 1.888.390.0541 (US/Canada toll-free) or 1.416.764.8677
(International/Toronto). The
passcode is 593677#. The replay will expire at 8:59 pm PT (11:59 pm
ET) on August 11, 2022. The
conference call will also be available via webcast on the Investor
Relations section of Thinkific's website at
investors.thinkific.com/events-and-presentations.
Thinkific's unaudited interim consolidated financial statements
and accompanying notes, and Management's Discussion and Analysis
for the three months ended June 30,
2022 are available on the Company's website at
www.thinkific.com and on SEDAR at www.sedar.com.
About Thinkific
Thinkific (TSX:THNC) makes it simple for entrepreneurs and
established businesses of any size to scale and generate revenue by
teaching what they know. Our Platform gives businesses everything
they need to build, market, and sell online courses and other
learning products, and to run their business seamlessly under their
own brand, on their own site. Thinkific's 50,000+ active creators
earn hundreds of millions of dollars in direct course sales while
teaching tens of millions of students. Thinkific is headquartered
in Vancouver, Canada, with a
distributed team.
For more information, please visit www.thinkific.com.
Non-IFRS Measures
The information presented within this press release includes
"Adjusted EBITDA" and certain industry metrics. The "Adjusted
EBITDA" is not a recognized measure under International Financial
Reporting Standards ("IFRS") as issued by the International
Accounting Standards Board, does not have a standardized meaning
prescribed by IFRS, and is therefore unlikely to be comparable to
similar measures presented by other companies. Rather, this measure
is provided as additional information to complement those IFRS
measures by providing further understanding of our results of
operations from management's perspective. Accordingly, it should
not be considered in isolation nor as a substitute for analysis of
our financial information reported under IFRS. We also use certain
industry metrics: "Annual Recurring Revenue", "Paying Customers",
"Average Revenue per User", "Gross Merchandise Volume" and "Gross
Payments Volume". These industry metrics are unaudited and are not
directly derived from our financial statements. The non-IFRS
measure and industry metrics are used to provide investors with
supplemental measures of our operating performance and thus
highlight trends in our core business that may not otherwise be
apparent when relying solely on IFRS measures. We also believe that
securities analysts, investors and other interested parties
frequently use non-IFRS measures and industry metrics in the
evaluation of issuers. Our management also uses the non-IFRS
measure and industry metrics in order to facilitate operating
performance comparisons from period to period, to prepare annual
operating budgets and forecasts and to determine components of
management compensation.
"Adjusted EBITDA" is defined as net income (loss) excluding
taxes, interest, depreciation and amortization (or EBITDA), as
adjusted for stock-based compensation, foreign exchange loss
(gain), net finance (income) expense, restructuring costs and
transaction-related costs. Adjusted EBITDA does not have a
standardized meaning under IFRS and is not a measure of operating
income, operating performance or liquidity presented in accordance
with IFRS, and is subject to important limitations.
Please refer to "Reconciliation to IFRS from Non-IFRS measures"
in this press release for more information.
Key Performance
Indicators
We monitor the following industry metrics to help us evaluate
our business, measure our performance, identify trends affecting
our business, formulate business plans and make strategic
decisions: "Annual Recurring Revenue" or "ARR", "Average Revenue
per User" or "ARPU", "Gross Merchandise Volume" or "GMV",
"Paying Customers" and "Gross Payments Volume" or "GPV". Our key
performance indicators may be calculated in a manner different than
similar key performance indicators used by other companies.
"Paying Customers" is the count of
unique Thinkific subscribers on paid plans as of period end,
excluding all trial and free customers, and including both monthly
and annual subscribers.
"ARPU" is the average monthly
Revenue per Paying Customer in the quarter. ARPU is calculated by
taking the average Revenue for each month in the quarter and
dividing this by the average number of Paying Customers for the
same quarter.
"ARR" is the annual value of all
current Paying Customer subscriptions at the end of the period,
with the number of Paying Customers multiplied by 12 times the
average monthly subscription plan fee in effect on the last day of
that period.
"GMV" is the total dollar value of
all transactions of course sales, membership subscriptions, or
other products or services by our Creators, facilitated through our
platform during the period, net of refunds. GMV does not include
transactions for course sales, membership subscriptions, or other
products or services processed by APIs or certain apps where the
Company does not record the transaction value.
"GPV" is the total dollar value of GMV
processed through Thinkific Payments.
Forward Looking
Statements
This press release includes forward-looking statements and
forward–looking information within the meaning of applicable
securities laws in Canada.
Forward-looking statements and information may relate to our future
financial outlook and anticipated events or results and may include
information regarding our financial position, business strategy,
growth strategies, addressable markets, budgets, operations,
financial results, taxes, dividend policy, plans and objectives.
Particularly, information regarding our expectations of future
results, performance, achievements, prospects or opportunities or
the markets in which we operate is forward-looking information. In
some cases, forward-looking information can be identified by the
use of forward-looking terminology such as "plans", "targets",
"trends", "directional indicator", "indicator", "future success",
"expects", "is expected", "opportunity", "budget", "scheduled",
"estimates", "outlook", "forecasts", "projection", "scalability",
"trajectory", "prospects", "strategy", "intends", "anticipates",
"adoption", "believes", or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or, "will", "occur" or "be achieved", and similar
words or the negative of these terms and similar terminology. In
addition, any statements that refer to expectations, intentions,
projections or other characterizations of future events or
circumstances contain forward-looking information. Statements
containing forward-looking information are not historical facts but
instead represent management's expectations, estimates and
projections regarding future events or circumstances.
Forward-looking statements in this press release include, but are
not limited to statements regarding our financial position,
managements ability to effectively invest, increase business
efficiencies necessary to build and maintain a sustainable cost
structure; business strategy, budgets, operations, investments,
financial results, plans and objectives including potential path to
profitability, industry trends; growth in our industry; our growth
rates and growth strategies; addressable markets for our solutions;
expected effectiveness to our business resulting from changes to
pricing tiers; advances in and expansion of our offered platform
service; the development, success and effectiveness of new
products, features, and services such as TCommerce, Bulk Sell App
and automated App recommendations; effectiveness of our marketing
efforts including the 'Think In Color' Summit; expectations
regarding our revenue and the revenue generation potential of our
platform and other products, including Thinkific Payments and
Thinkific App Store; revenue; Adjusted EBITDA; and Thinkific's
commitment towards strong corporate governance, the expected
benefits from the collective experience of the company's board
directors, their experience and skill set as a member of the board
of directors and the expected benefits that board directors may
bring to position the company for greater success and value
creation in the future.
Forward-looking statements and information are based on our
opinions, estimates and assumptions that, while considered by the
Company to be appropriate and reasonable as of the date of this
press release, are subject to known and unknown risks,
uncertainties, and other factors that may cause the actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to the Company's ability to
execute on its growth strategies; the impact of changing conditions
in the global e-learning market in which the Company operates;
fluctuations in currency exchange rates and volatility in financial
markets; changes in attitudes, financial condition and demand of
our target market; developments and changes in applicable laws and
regulations; and such other factors discussed in greater detail
under the "Risk Factors" section of our Annual Information Form
("AIF").
Forward-looking statements and information are necessarily based
upon estimates and assumptions, which are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are beyond the Company's control and
many of which, regarding future business decisions, are subject to
change. Assumptions or factors underlying the Company's
expectations regarding forward-looking statements or information
contained in this press release include, among others: our ability
to continue investing in infrastructure to support our growth and
brand recognition; our ability to continue maintaining, innovating,
improving and enhancing our technological infrastructure and
functionality, performance, reliability, design, security and
scalability of our Platform (as defined in our AIF); our ability to
maintain existing relationships with Creators (as defined in our
AIF) and to continue to expand our Creators' use of our platform;
our ability to acquire new Creators; our ability to maintain
existing material relationships on similar terms with service
providers, suppliers, partners and other third parties; our ability
to build our market share and enter new markets and industry
verticals; the continued development, rollout, integration and
success of new products, features, and services, including
TCommerce, Thinkific Payments and Thinkific App Store; our ability
to retain key personnel; our ability to maintain and expand
geographic scope; our ability to execute on our expansion and
growth plans; our ability to obtain and maintain existing financing
on acceptable terms; currency exchange and interest rates; the
impact of competition; the changes and trends in our industry or
the global economy; and the changes in laws, rules, regulations,
and global standards. The foregoing list of assumptions cannot be
considered exhaustive.
If any of these risks or uncertainties materialize, or if the
opinions, estimates or assumptions underlying the forward-looking
information prove incorrect, actual results or future events might
vary materially from those anticipated in the forward-looking
information provided herein. The opinions, estimates or assumptions
referred to above and described in greater detail in "Summary of
Factors Affecting our Performance" and in the "Risk Factors"
section of our 2021 Annual Information Form, which are available
under our profile on SEDAR at www.sedar.com, should be considered
carefully by prospective investors. Although we have attempted to
identify important risk factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other risk factors not presently known to
us or that we presently believe are not material that could also
cause actual results or future events to differ materially from
those expressed in such forward-looking information. There can be
no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. No forward-looking statement is a
guarantee of future results. Accordingly, you should not place
undue reliance on forward-looking information, which speaks only as
of the date made. The forward-looking information contained in this
press release represents our expectations as of the date specified
herein, and are subject to change after such date. However, we
disclaim any intention or obligation or undertaking to update or
revise any forward-looking information whether as a result of new
information, future events or otherwise, except as required under
applicable securities laws.
All of the forward-looking information contained in this press
release is expressly qualified by the foregoing cautionary
statements. Readers are cautioned that any such forward-looking
information should not be used for purposes other than for which it
is disclosed.
THINKIFIC LABS INC.
Condensed Interim Consolidated Statements of Financial Position
(unaudited)
(expressed in U.S. dollars)
|
June 30,
2022
|
December 31,
2021
|
|
$
|
$
|
Assets
|
|
|
Current
assets
|
|
|
Cash and cash
equivalents
|
105,306,892
|
126,054,833
|
Trade and other
receivables
|
2,115,542
|
1,392,391
|
Prepaid expenses and
other assets
|
3,331,839
|
2,769,924
|
Contract acquisition
assets
|
256,465
|
159,326
|
Total current
assets
|
111,010,738
|
130,376,474
|
|
|
|
Property and
equipment
|
1,650,265
|
766,568
|
Lease right-of-use
assets
|
2,243,267
|
754,320
|
Contract acquisition
assets
|
584,496
|
407,659
|
Intangible
assets
|
107,157
|
98,985
|
Total
assets
|
115,595,923
|
132,404,006
|
|
|
|
Liabilities and
shareholders' equity
|
|
|
Current
liabilities
|
|
|
Accounts payable and
accrued liabilities
|
4,380,581
|
3,286,321
|
Lease
liabilities
|
456,825
|
515,348
|
Deferred
revenue
|
8,203,161
|
6,628,749
|
Total current
liabilities
|
13,040,567
|
10,430,418
|
|
|
|
Lease
liabilities
|
1,828,610
|
359,917
|
Total
liabilities
|
14,869,177
|
10,790,335
|
|
|
|
Shareholders'
equity
|
|
|
Share
capital
|
146,065,525
|
145,583,011
|
Contributed
surplus
|
5,593,820
|
4,865,646
|
Accumulated other
comprehensive loss
|
(38,113)
|
(38,113)
|
Accumulated
deficit
|
(50,894,486)
|
(28,796,873)
|
Total shareholders'
equity
|
100,726,746
|
121,613,671
|
Total liabilities
and shareholders' equity
|
115,595,923
|
132,404,006
|
|
|
|
THINKIFIC LABS INC.
Condensed Interim Consolidated Statements of Loss and
Comprehensive Loss (unaudited)
(expressed in U.S. dollars)
|
Three months
ended
June 30,
|
Six months
ended
June 30,
|
|
2022
|
2021
|
2022
|
2021
|
|
$
|
$
|
$
|
$
|
Revenue
|
12,619,987
|
9,127,936
|
24,405,119
|
17,431,210
|
Cost of
revenue
|
2,991,716
|
2,147,939
|
6,144,356
|
3,816,726
|
Gross
profit
|
9,628,271
|
6,979,997
|
18,260,763
|
13,614,484
|
|
|
|
|
|
Operating
expenses
|
|
|
|
|
Sales and
marketing
|
6,513,131
|
4,558,608
|
12,703,033
|
7,657,762
|
Research and
development
|
7,128,260
|
4,565,565
|
15,077,959
|
7,100,922
|
General and
administrative
|
3,942,481
|
3,160,433
|
9,100,319
|
5,138,604
|
Restructuring
|
—
|
—
|
2,287,885
|
—
|
Total operating
expenses
|
17,583,872
|
12,284,606
|
39,169,196
|
19,897,288
|
|
|
|
|
|
Operating
loss
|
(7,955,601)
|
(5,304,609)
|
(20,908,433)
|
(6,282,804)
|
|
|
|
|
|
Other income
(expenses)
|
|
|
|
|
Foreign exchange gain
(loss)
|
(2,408,017)
|
(58,958)
|
(1,516,058)
|
(56,011)
|
Finance income
(expense)
|
252,914
|
50,300
|
326,878
|
39,895
|
Total other income
(expenses)
|
(2,155,103)
|
(8,658)
|
(1,189,180)
|
(16,116)
|
Net loss and
comprehensive loss
|
|
|
|
|
|
(10,110,704)
|
(5,313,267)
|
(22,097,613)
|
(6,298,920)
|
Loss per
share
|
|
|
|
|
Basic and
diluted
|
$
(0.13)
|
$
(0.11)
|
$
(0.28)
|
$
(0.14)
|
THINKIFIC LABS INC.
Condensed Interim Consolidated Statements of Cash Flows
(unaudited)
(expressed in U.S. dollars)
|
|
Six months ended
June 30,
|
|
|
2022
|
2021
|
|
|
$
|
$
|
Cash from (used
in):
|
|
|
|
Operating
activities
|
|
|
|
Net loss
|
|
(22,097,613)
|
(6,298,920)
|
Items not affecting
cash and cash equivalents:
|
|
|
|
Depreciation and
amortization
|
|
551,166
|
284,317
|
Stock-based
compensation
|
|
1,166,701
|
1,405,659
|
Unrealized foreign
exchange loss
|
|
1,553,736
|
81,958
|
Finance
expense
|
|
42,926
|
20,738
|
|
|
|
|
Changes in non-cash
working capital:
|
|
|
|
Trade and other
receivables
|
|
(723,151)
|
(124,689)
|
Prepaid expenses and
other assets
|
|
(577,708)
|
(1,762,435)
|
Investment tax credits,
net
|
|
—
|
(242,311)
|
Contract acquisition
assets
|
|
(372,499)
|
(293,796)
|
Accounts payable and
accrued liabilities
|
|
926,289
|
85,388
|
Deferred
revenue
|
|
1,574,412
|
954,280
|
Cash used in
operating activities
|
|
(17,955,741)
|
(5,889,811)
|
|
|
|
|
Investing
activities
|
|
|
|
Investment in property
and equipment
|
|
(1,110,398)
|
(41,283)
|
Investment in
intangible assets
|
|
(11,986)
|
(104,660)
|
Cash used in
investing activities
|
|
(1,122,384)
|
(145,943)
|
|
|
|
|
Financing
activities
|
|
|
|
Proceeds from issuance
of shares upon IPO
|
|
—
|
148,616,696
|
Share issuance
costs
|
|
—
|
(9,829,901)
|
Operating lease
payments
|
|
(266,017)
|
(265,362)
|
Exercise of stock
options
|
|
240,332
|
7,599
|
Cash used in
financing activities
|
|
(25,685)
|
138,529,032
|
|
|
|
|
Effect of foreign
exchange on cash and cash equivalents
|
|
(1,644,131)
|
(31,970)
|
Decrease in cash and
cash equivalents
|
|
(20,747,941)
|
132,461,308
|
Cash and cash
equivalents, beginning of period
|
|
126,054,833
|
9,066,016
|
Cash and cash
equivalents, end of period
|
|
105,306,892
|
141,527,324
|
Reconciliation from IFRS to Non-IFRS Measures
(unaudited)
(expressed in thousands of U.S. dollars)
|
Three months
ended
June 30,
|
Six months ended
June 30,
|
|
2022
$
|
2021
$
|
2022
$
|
2021
$
|
Net loss and
comprehensive loss
|
(10,111)
|
(5,313)
|
(22,098)
|
(6,299)
|
Stock-based
compensation
|
645
|
1,146
|
1,167
|
1,406
|
Depreciation and
amortization
|
277
|
144
|
551
|
284
|
Foreign exchange (gain)
loss
|
2,408
|
59
|
1,516
|
56
|
Finance (income)
expense
|
(253)
|
(50)
|
(327)
|
(40)
|
Restructuring costs
(1)
|
—
|
—
|
2,875
|
—
|
Transaction-related
costs (2)
|
—
|
21
|
—
|
115
|
Adjusted
EBITDA
|
(7,034)
|
(3,994)
|
(16,316)
|
(4,478)
|
(1)
Represents restructuring costs in the first quarter of 2022,
primarily relating to employee compensation.
|
(2)
Represents costs related to our IPO, and consists of professional,
legal, consulting, and accounting fees that are non-recurring,
would otherwise not have been incurred, and are not indicative of
continuing operations.
|
View original
content:https://www.prnewswire.com/news-releases/thinkific-announces-second-quarter-2022-financial-results-and-provides-outlook-for-the-third-quarter-301600322.html
SOURCE Thinkific Labs Inc.