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OpenLearning Limited, together with its subsidiaries, operates online learning platforms for educators and institutions in Australia, Malaysia, and Singapore. The company offers a suite of tools for online learning, course creation, and delivery, catering to education providers, universities, and training institutions. Its learning management system (LMS) platforms comprise OpenLearning LMS, an end-to-end learning platform that enables institutions to design, market, deliver, and manage online courses, micro-credentials, and degrees; CourseMagic.ai, an AI-driven instructional design tool that provides educators with automated course-building features and integration with Canvas, Blackboard, and Moodle platforms; and Biomedical Education and Skills Testing Network, a specialized teaching platform with virtual microscopy capabilities for biomedical education. The company also provides student acquisition and course discovery solutions through OpenLearning Marketplace, an education marketplace, which features courses from education providers and enables course promotion and enrolment management; and The Uni Guide, a higher education marketplace that helps universities and colleges recruit students. OpenLearning Limited was founded in 2012 and is based in Pyrmont, Australia.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
OpenLearning Limited operates a cloud-based social learning platform that serves higher education institutions and corporate training clients across Australia and the Asia-Pacific region. Long-term growth may be supported by rising demand for digital and micro-credential delivery, expansion into corporate L&D, and platform scalability; investors may find exposure to secular edtech adoption attractive.
Key risks include intense competition from large global LMS and MOOC providers, concentration of revenue with institutional contracts, and a limited track record of sustained profitability that creates execution and financing risk.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -4.10M | -2.85M | -4.42M | -5.65M | -6.73M |
| Net income | -4.10M | -2.85M | -4.42M | -5.66M | -6.89M |
| Selling general administrative | - | 1.32M | 4.06M | 5.90M | 6.61M |
| Selling and marketing expenses | - | 0.21M | 0.19M | 0.23M | 0.50M |
| Gross profit | -1.81M | -0.72M | -2.11M | 3.17M | 3.51M |
| Reconciled depreciation | - | 0.45M | 0.39M | 0.37M | 0.29M |
| Ebit | -3.97M | -2.70M | -4.36M | -5.64M | -6.72M |
| Ebitda | -3.41M | -2.25M | -3.97M | -5.27M | -6.43M |
| Depreciation and amortization | 0.56M | 0.45M | 0.39M | 0.37M | 0.29M |
| Operating income | -3.97M | -2.25M | -3.89M | -5.64M | -6.72M |
| Other operating expenses | 7.15M | 4.53M | 6.19M | 8.86M | 10.41M |
| Interest expense | 0.10M | 0.12M | 0.06M | 0.01M | 0.00M |
| Tax provision | - | 0.00M | 0.00M | 0.00M | 0.00M |
| Interest income | - | 0.00M | 0.01M | 0.00M | 0.02M |
| Net interest income | - | -0.12M | -0.06M | -0.00M | 0.02M |
| Income tax expense | - | - | -0.00M | 0.01M | 0.16M |
| Total revenue | 3.18M | 2.28M | 2.29M | 3.17M | 3.51M |
| Total operating expenses | 2.16M | 1.53M | 1.78M | 8.86M | 10.41M |
| Cost of revenue | 5.00M | 3.01M | 4.41M | 1.11M | 1.86M |
| Total other income expense net | -0.13M | -0.60M | -0.53M | -0.01M | -0.00M |
| Net income from continuing ops | - | -2.85M | -4.42M | -5.65M | -6.73M |
| Net income applicable to common shares | - | -2.85M | -4.42M | -5.65M | -6.73M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 4.53M | 3.39M | 3.34M | 4.58M | 6.52M |
| Intangible assets | - | 2.10M | - | 1.64M | 1.15M |
| Other current assets | 0.15M | 0.15M | 0.16M | 0.17M | 0.34M |
| Total liab | 3.46M | 4.13M | 5.35M | 2.16M | 2.40M |
| Total stockholder equity | 1.07M | -0.74M | -2.01M | 2.42M | 4.13M |
| Other current liab | 0.64M | 1.37M | 0.44M | 0.36M | 0.34M |
| Common stock | 46.10M | 40.31M | 36.26M | 36.26M | 32.50M |
| Capital stock | - | - | - | 36.26M | 32.50M |
| Retained earnings | -46.89M | -42.80M | -39.99M | -35.57M | -30.44M |
| Good will | - | - | 0.02M | 0.02M | 0.02M |
| Cash | 2.09M | 0.95M | 1.10M | 2.20M | 4.59M |
| Total current liabilities | 3.39M | 2.07M | 2.30M | 2.16M | 2.40M |
| Current deferred revenue | 1.74M | - | 1.09M | 1.11M | 0.87M |
| Net debt | -2.09M | 1.11M | 1.95M | -2.20M | -4.46M |
| Short term debt | - | - | - | 0.00M | 0.12M |
| Short long term debt total | - | 2.06M | 3.05M | - | 0.12M |
| Other stockholder equity | - | 0.00M | - | 0.03M | 2.07M |
| Property plant equipment | - | - | - | 0.04M | 0.17M |
| Total current assets | 2.95M | 1.26M | 1.75M | 2.91M | 5.20M |
| Net tangible assets | - | - | - | 0.78M | 2.98M |
| Net receivables | 0.71M | 0.16M | 0.48M | 0.53M | 0.32M |
| Inventory | - | - | - | - | -0.04M |
| Accounts payable | 1.01M | 0.71M | 0.77M | 0.69M | 1.06M |
| Accumulated other comprehensive income | 1.87M | 1.74M | 1.72M | 1.73M | 2.07M |
| Non currrent assets other | - | - | 1.53M | - | - |
| Non current assets total | 1.58M | 2.13M | 1.59M | 1.67M | 1.32M |
| Capital lease obligations | - | - | - | - | 0.12M |
| Long term debt total | - | - | - | 0.00M | 0.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -0.96M | -0.78M | -0.74M | -0.74M |
| Change to liabilities | - | - | - | -0.02M | 0.45M |
| Total cashflows from investing activities | -0.00M | -0.96M | -0.78M | -0.74M | -0.74M |
| Net borrowings | - | 2.00M | 3.00M | -0.12M | -0.17M |
| Total cash from financing activities | 3.66M | 2.95M | 3.00M | 3.76M | 2.73M |
| Net income | -4.10M | -2.85M | -4.42M | -5.66M | -6.73M |
| Change in cash | 1.14M | -0.15M | -1.10M | -2.38M | -4.01M |
| Begin period cash flow | 0.95M | 1.10M | 2.20M | 4.59M | 8.60M |
| End period cash flow | 2.09M | 0.95M | 1.10M | 2.20M | 4.59M |
| Total cash from operating activities | -2.52M | -2.15M | -3.32M | -5.29M | -6.01M |
| Issuance of capital stock | - | 0.95M | - | 3.88M | 2.90M |
| Depreciation | 0.56M | 0.45M | 0.39M | 0.37M | 0.29M |
| Other cashflows from investing activities | - | -0.95M | -0.77M | - | - |
| Change to account receivables | -0.35M | 0.33M | 0.20M | -0.18M | 0.04M |
| Sale purchase of stock | - | 0.95M | 0.00M | 3.88M | 2.90M |
| Other cashflows from financing activities | - | 0.95M | -0.78M | -0.12M | -0.74M |
| Change to netincome | - | - | - | 0.07M | -0.06M |
| Capital expenditures | 0.00M | 0.01M | 0.78M | 0.74M | 0.74M |
| Change in working capital | 0.83M | 0.33M | 0.25M | 0.11M | 0.16M |
| Stock based compensation | - | 0.04M | - | - | - |
| Other non cash items | 0.18M | -0.12M | 0.47M | 5.29M | 6.44M |
| Free cash flow | -2.52M | -2.16M | -4.10M | -6.03M | -6.75M |
Sector: Technology Industry: Software - Application
|
Stock Name
|
Change
(AUD) |
Price
(AUD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| OLL Openlearning Ltd |
0.00 11.11% |
0.01 | - | - | 2.07 | 10.19 | 1.87 | -0.25 |
| WTC Wisetech Global Ltd |
-0.55 1.17% |
46.59 | 56.76 | 27.86 | 10.80 | 5.09 | 8.44 | 29.47 |
| XRO Xero Ltd |
4.31 6.08% |
75.17 | - | 57.14 | 4.53 | 2.46 | 4.90 | 15.19 |
| TNE Technology One Ltd |
-0.70 2.13% |
32.16 | 77.12 | 53.48 | 17.20 | 24.08 | 16.02 | 36.25 |
| ALU Alurion Resources Limited |
-0.02 5.13% |
0.37 | 84.36 | 57.14 | 31.93 | 18.58 | 20.12 | 56.92 |
OpenLearning Limited, together with its subsidiaries, operates online learning platforms for educators and institutions in Australia, Malaysia, and Singapore. The company offers a suite of tools for online learning, course creation, and delivery, catering to education providers, universities, and training institutions. Its learning management system (LMS) platforms comprise OpenLearning LMS, an end-to-end learning platform that enables institutions to design, market, deliver, and manage online courses, micro-credentials, and degrees; CourseMagic.ai, an AI-driven instructional design tool that provides educators with automated course-building features and integration with Canvas, Blackboard, and Moodle platforms; and Biomedical Education and Skills Testing Network, a specialized teaching platform with virtual microscopy capabilities for biomedical education. The company also provides student acquisition and course discovery solutions through OpenLearning Marketplace, an education marketplace, which features courses from education providers and enables course promotion and enrolment management; and The Uni Guide, a higher education marketplace that helps universities and colleges recruit students. OpenLearning Limited was founded in 2012 and is based in Pyrmont, Australia.
| Name | Title | Year Born |
|---|---|---|
| Mr. Spiro Pappas | Interim Chair & Sr. Advisor | NA |
| Mr. Adam Maurice Brimo | Group CEO, MD & Director | NA |
| Mr. David Andrew Collien | Chief Technology Officer | NA |
| Ms. Christina He | Strategy Director | NA |
| Kaitlin Hartley | Sr. Account Mang. | NA |
| Ms. Marsyitah Ismail | Head of Learning Services - SEA | NA |
| Nasihah Sakinah Mazalan | Head of Marketing - SEA | NA |
| Sophea Seng | Head of Operations - SEA | NA |
| Ms. Orna Ni Ghralaigh | Head of Learning Services - Australia | NA |
| Shannen Bradford | Head of Customer Success | NA |
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