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Summary
- Thinkific Labs Inc (TSX:THNC) went public on the Toronto Stock Exchange (TSX) on Tuesday, April 27.
- Its public debut comes after an initial public offering (IPO) that is said to have raised over C$ 160 million.
- The Vancouver-based company provides a cloud-based software platform to help create online learning courses.
Vancouver-based Thinkific Labs Inc (TSX:THNC) made its debut on the Toronto Stock Exchange (TSX) on Tuesday, April 27, following an initial public offering (IPO) that is said to have raised over C$ 160 million.
The company, which provides a cloud-based software platform to help create online learning courses, said that it offered about 12.3 million shares at a price of C$ 13 apiece at its IPO.
The Canadian firm plans to utilize the gross proceeds to invest in sales and marketing, and add new features to its online learning platform.
Thinkific Labs was founded by CEO Greg Smith and other co-founders in 2012. It provides businesses and entrepreneurs the tools to build their own customized courses under their brand name.
Source: Pixabay
Even since the pandemic began, online learning applications witnessed a massive surge in demand. Thinkific reportedly decided to go public to increase its popularity among people, strengthen the brand and enhance its financial flexibility.
After the public debut, Mr Smith said that Thinkific will make it easy for course creators to build online courses and scale profitable businesses.
Thinkific Labs (TSX:THNK) Stock Performance
Thinkific’s debutant stocks opened at C$ 13.5 apiece on Tuesday, up from its IPO price of C$ 13. The stock went on to surge by about 20 per cent from its IPO price before closing at C$ 15.6.
The Vancouver-based tech firm registered a share trading volume of nearly 13.7 million on its first day on the TSX.
Thinkific Labs Financials
As of December 31, 2020, the total number of course enrolments on Thinkific's online learning platform stood at over 100 million. The tech company claims to have assisted at least 50,000 entrepreneurs and businesses earn US$ 650 million.
Thinkific's annual recurring revenue increased by 150 per cent year-over-year (YoY) in 2020. The course creators reportedly taught over 21 million students and generated a revenue of US$ 275 million from direct course sales through the company's platform.
Presently, Thinkific has some 25,000 paying customers, an increase of 126 per cent YoY. Its average revenue per student increased to US$ 105 per month in 2020, up 11 per cent from the previous year.
