D2L (DTOL) Investor Presentation summary

Vision and mission

• Aims to create a better world by making learning accessible, engaging, and inspiring.

• Mission is to transform the way the world learns through innovative technology.

Market position and scale

• Operates as a global learning technology leader with 1,310+ customers in over 40 countries and 20M users.

• Serves higher education, K-12, and corporate markets, with ~65% of ARR from higher ed, ~15% from K-12, and >20% from corporate.

• Holds #2 market share in North American higher ed by enrollments and #1 in Canada.

Financial performance and growth

• Achieved 13% Q3-25 subscription & support revenue growth, reaching $46.8M.

• Annual Recurring Revenue at $202M as of October 2024.

• Adjusted EBITDA midpoint guidance for FY25 is $26M, with $108M in cash and no debt.

• Q3 2025 total revenue grew 17.8% YoY to $54.3M; adjusted gross margin rose to 69.9%.

• 12% annual revenue growth projected for FY25, with adjusted EBITDA margin expected in the low-to-mid teens.