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Thinkific Labs Inc

Technology Software - Application
PortfolioPortfolio WatchlistWatchlist
Company price
2.28 CAD 0.22 ( 10.68%)
Last update at 2026-11-04T20:36:00Z
VOLUME
160444
Market Cap
100.04M
P/E
49.00

Momentum Score

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Thinkific Labs Inc. engages in the development, marketing, and support management of cloud-based platform in Canada, the United States, and internationally. It provides a learning commerce platform that provides courses, communities, AI and commerce. The company was incorporated in 2012 and is headquartered in Vancouver, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
2.17
Low
2.29
High
52 Week Price Range
1.30
Low
4.40
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Thinkific Labs Inc operates a subscription-based SaaS platform that enables creators and organizations to build, market and sell online courses and membership offerings. Long-term growth may be supported by rising demand for digital education and the creator economy, expansion into enterprise training and product enhancements that increase customer lifetime value. Investors may find the company attractive for its recurring revenue model and scalable technology exposure to secular online learning trends.
Key risks include intense competition from other course platforms and marketplaces, execution risk in scaling sales and product development, and sensitivity to marketing spend and creator income that could affect customer acquisition and retention.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
2.06
Dividend Yield
-
Revenue TTM
73.19M
Revenue Per Share
1.07
Gross Profit TTM
53.53M
Debt / Equity
0.03
ROE
3.04%
Net Debt
-6.36M
ROCE
-3.04%
Diluted EPS TTM
0.03

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

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 1.31M -0.24M -9.78M -36.42M -26.38M
Net income 1.31M -0.24M -9.78M -41.90M -28.44M
Selling general administrative 33.25M 13.08M 14.92M 16.94M 13.94M
Selling and marketing expenses - 20.63M 20.77M 25.67M 20.13M
Gross profit 53.10M 50.31M 44.56M 39.11M 29.21M
Reconciled depreciation 1.34M 1.39M 1.34M 1.20M 0.68M
Ebit -1.35M -2.44M -10.60M -30.94M -24.31M
Ebitda 0.01M -1.06M -9.26M -22.84M -21.31M
Depreciation and amortization 1.36M 1.39M 1.34M 8.10M 2.99M
Operating income -1.35M -2.44M -13.54M -30.94M -24.31M
Other operating expenses 75.82M 69.39M 72.60M 82.42M 62.42M
Interest expense - - - 1.43M 0.24M
Interest income 2.30M 2.21M 3.48M 3.19M 2.07M
Net interest income 2.30M 3.41M 3.48M 1.43M 0.24M
Income tax expense - - -0.82M 5.48M 2.07M
Total revenue 74.47M 66.94M 59.05M 51.48M 38.12M
Total operating expenses 54.45M 52.76M 58.10M 70.06M 53.52M
Cost of revenue 21.37M 16.63M 14.49M 12.36M 8.90M
Total other income expense net 2.66M 2.21M 3.76M -5.48M -2.07M
Net income from continuing ops 1.29M -0.24M -9.78M -36.42M -26.38M
Net income applicable to common shares - -0.24M -9.78M -36.42M -26.38M
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 62.66M 61.37M 97.79M 102.97M 132.40M
Intangible assets 0.18M - 0.11M 0.12M 0.10M
Other current assets 3.02M 3.29M 3.17M 1.80M 2.77M
Total liab 19.49M 19.77M 15.85M 15.12M 10.79M
Total stockholder equity 43.18M 41.59M 81.94M 87.85M 121.61M
Deferred long term liab - - - 0.66M 0.41M
Other current liab 5.55M 0.54M 4.84M 4.52M 1.95M
Common stock 109.15M - 147.74M 146.18M 145.58M
Capital stock 109.35M 109.46M 147.74M 146.18M 145.58M
Retained earnings -73.81M -75.23M -75.00M -65.22M -28.80M
Other assets - - - 0.66M 0.41M
Cash 7.82M 49.49M 86.61M 93.85M 126.05M
Cash and equivalents - - - 93.85M 126.05M
Total current liabilities 18.36M 18.37M 15.38M 13.61M 10.43M
Current deferred revenue 10.68M - 9.53M 8.24M 6.63M
Net debt -6.36M - -85.58M -91.89M -125.18M
Short term debt 0.34M - 0.56M 0.44M 0.52M
Short long term debt total 1.47M - 1.03M 1.96M 0.88M
Other stockholder equity 7.81M - 8.67M 6.93M 4.87M
Property plant equipment - - - 3.51M 1.52M
Total current assets 59.53M 58.01M 95.14M 98.68M 130.38M
Net tangible assets - - - 87.73M 121.51M
Short term investments 42.78M - - - -
Net receivables 5.90M 3.83M 4.78M 3.04M 1.55M
Inventory - - 0.57M - -
Accounts payable 1.80M 1.90M 0.46M 0.41M 1.34M
Accumulated other comprehensive income 0.03M - 0.53M -0.04M -0.04M
Non currrent assets other - - 0.88M 0.66M 0.41M
Non current assets total 3.14M 3.36M 2.66M 4.29M 2.03M
Capital lease obligations 1.47M 1.77M 1.03M 1.96M 0.88M
Long term debt total - - - 1.51M 0.36M
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 -42.38M -0.17M 0.05M -1.26M -0.66M
Change to liabilities - - - 2.87M 4.39M
Total cashflows from investing activities -43.39M -0.17M 0.05M -1.26M -0.66M
Net borrowings -0.43M -0.43M -0.46M -0.52M -0.54M
Total cash from financing activities -4.83M -42.60M -2.41M -0.24M 138.26M
Change to operating activities - - - 0.29M -2.84M
Net income 1.31M -0.24M -9.78M -36.42M -26.38M
Change in cash -44.01M -37.12M -7.24M -32.21M 116.99M
Begin period cash flow 51.83M 86.61M 93.85M 126.05M 9.07M
End period cash flow 7.82M 49.49M 86.61M 93.85M 126.05M
Total cash from operating activities 5.69M 6.99M -5.43M -25.85M -18.26M
Issuance of capital stock - - - 0.00M 148.62M
Depreciation 1.36M 1.39M 1.34M 1.20M 0.68M
Other cashflows from investing activities - 0.04M 0.07M - -
Change to account receivables -2.03M -1.63M -0.61M -1.32M -0.59M
Sale purchase of stock -3.12M -39.16M -0.90M 0.28M 148.69M
Other cashflows from financing activities -1.33M -3.00M -1.06M 0.28M -9.82M
Change to netincome - - - 7.54M 6.47M
Capital expenditures 0.26M 0.24M 0.02M 1.26M 0.66M
Change in working capital -0.20M 0.24M -2.11M 1.84M 0.97M
Stock based compensation 3.75M 4.00M 5.75M 2.79M 4.12M
Other non cash items 3.21M 1.61M -0.63M 4.75M 2.35M
Free cash flow 5.42M 6.75M -5.44M -27.11M -18.91M

Peer Comparison*

Sector: Technology Industry: Software - Application

Stock Name
Change
(CAD)
Price
(CAD)
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)
THNC
Thinkific Labs Inc		 0.22
10.68%		 2.28 49.00 97.09 1.37 1.62 0.29 1531.31
SHOP
Shopify Inc		 13.51
6.75%		 213.70 138.91 70.92 20.17 12.93 14.73 88.85
CRM
Salesforce CDR (CAD Hedged)		 0.44
2.61%		 17.28 23.21 13.57 4.11 2.47 3.85 12.75
NOWS
ServiceNow CDR (CAD Hedged)		 -0.02
0.14%		 13.85 323.25 114.94 38.22 38.75 7.52 33.05
CSU
Constellation Software Inc.		 57.38
1.67%		 3495.38 78.75 16.39 4.74 11.45 3.77 17.00

Profile*

Thinkific Labs Inc

Thinkific Labs Inc. engages in the development, marketing, and support management of cloud-based platform in Canada, the United States, and internationally. It provides a learning commerce platform that provides courses, communities, AI and commerce. The company was incorporated in 2012 and is headquartered in Vancouver, Canada.

400 - 369 Terminal Avenue, Vancouver, BC, Canada, V6A 4C4

888-832-2409

https://www.thinkific.com

314

Name Title Year Born
Mr. Greg Smith B.Com., L.L.B. Co-Founder, CEO & Director NA
Mr. Matthew Smith B.Sc. Co-Founder, Chief Strategy Officer & Acting Chief Revenue Officer NA
Ms. Miranda Lievers M.B.A. Co-Founder & COO NA
Ms. Corinne Hua B.A., CPA Chief Financial Officer NA
Mr. Chris McGuire Chief Technology Officer NA
Mr. Stephen Krenzer Pres & Director 1959
Ms. Janet Anne Craig Head of Investor Relations NA
Ed Ma VP, General Counsel & Corporate Secretary NA
Mr. Ryan Donovan Chief Product & Technology Officer NA
Ms. Amanda Malko Chief Revenue Officer NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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