Thinkific Labs, Inc. · TSX:THNC
Thinkific Labs — Q3 2026 Earnings Presentation
24 slides from Thinkific Labs's earnings presentation, Nov 3, 2026
Slide 1: Q3 2026 Earnings Call
Q3 2026 Earnings Call Powering the World’s Top Learning Businesses
Slide 2: Disclaimer
DISCLAIMER This presentation of Thinkific Labs Inc. (“the Company”, “Thinkific”, “us” or “we”) is as of November 3, 2026. In this presentation, all references to “$”, “US$”, “dollars” and “U.S. dollars” are to United States dollars and all references to “C$” are to Canadian dollars. NON-IFRS MEASURE
Slide 3: Disclaimer: Forward-Looking Statements
Disclaimer FORWARDLOOKING STATEMENTS This presentation includes forward-looking statements and forward–looking information within the meaning of Canadian securities laws. Often, but not always, forward–looking information can be identified by the use of words such as "plans", "is expected", "expect
Slide 4: Reorganizing to Accelerate Plus Growth
Reorganizing to Accelerate Plus Growth “We continue to build momentum in our move upmarket. Having reorganized the company in September, we now possess capacity to invest and grow Thinkific Plus, while maintaining excellent support for our valued Self-Serve customers,” said Greg Smith, Founder and C
Slide 5: Thinkific at a Glance
THNC (TSX) Thinkific at a Glance All $USD $63M $294M $448M Annual Recurring LTM Gross Payments LTM Gross Merchandise $75M Revenue (+4% YoY) Volume (+13% YoY) Volume (-2% YoY) LTM Revenue (+4% YoY) $187 $50M $2.6M Monthly ARPU Cash on Balance Sheet LTM Adjusted EBITDA (+8% YoY) (no debt) (3.5% margin
Slide 6: Building an industry-leading learning commerce platform
Building an industry-leading learning commerce platform ~33,000 $4B+ 230M Customers Earned by our customers Students served
Slide 7: Executive Leadership Team
Executive Leadership Team Greg Smith Leigh Ramsden Amanda Malko Elise Stribos CEO CFO President & CPOO CRO Thinkific 2026 7
Slide 8: The Learning Commerce Platform
The Learning Commerce Platform Thinkific, the leading learning commerce platform for scaling external training allows businesses to transform expertise into courses, communities, and other high-quality learning experiences. It’s designed to drive revenue growth for our customers. Jacques Wong Founde
Slide 9: Who Are Our Customers?
Who Are Our Customers? Enterprise and Mid-Market Our Customers sell expertise as a principal part of their business. They span a diverse set of topics. They each come to us with a need to monetize their expertise, seeking Thinkific's deep commerce and learning functionality. Training Companies / Aca
Slide 10: Why customers love us
Why customers love us Award-winning customer Industry-leading student An easy, flexible, and support and services experience scalable platform Access to a dedicated team Watch your students excel and Spend less time building. Thinkific Plus’ (including launch specialist, CSM, and engage with Learnin
Slide 11: At Thinkific, we offer:
At Thinkific, we offer: All-in-one learning Built-in White-labeled platform: payments and sites: great for mobile app, community, and checkout B2B training courses solution sales Thinkific Plus helps knowledge businesses grow faster with advanced customization, support, and automation — all without
Slide 12: Your All-in-One Learning Commerce Platform
Thinkific is the all-in-one LMS that helps training companies scale their revenue more efficiently through blended learning that combines community and courses, advanced admin Your All-in-One Learning Commerce Platform capabilities, and a built-in commerce solution. Courses Commerce Learning Paths C
Slide 13: AI Powers your Thinkific Platform
AI Powers your Thinkific Platform AI at our core unlocks customer value throughout our product ROI & Custom Agentic Learning Manage at Scale Analytics Learning Agents Experience Customization Connect your own Personalized No Code custom Save time with data to ours for owned agents implementations ad
Slide 14: Thinker helps us amplify the learner experience
“Thinker helps us amplify the learner experience... the result is learning that’s more effective, more relatable, and more memorable at a scale we simply couldn’t achieve manually.” Stephen Ekstrom, CEO of Learn Tourism Thinkific 2026 14
Slide 15: Q3 F26 Financial Overview
Q3 F26 Financial Overview Thinkific 2026 15
Slide 16: Q3 F2026 Financial Highlights
THNC (TSX) Q3 F2026 Financial Highlights $63M $74M $106M Annual Recurring Gross Payments Volume Gross Merchandise $19.0M Revenue (+4% YoY) (+5% YoY) Volume (-7% YoY) Revenue (+2% YoY) $187 $50M $1.8M Monthly ARPU Cash on Balance Sheet Adjusted EBITDA (+8% YoY) (no debt) (10% margin) For the quarter
Slide 17: Multiple Levers Driving Revenue Growth in Q3
FINANCIAL PERFORMANCE Multiple Levers Driving Revenue Growth in Q3 Self Service Subscription Revenue Customers “Product-Centric” $15.5M (3% YoY) $13.3M (-3% YoY) Financial Statement view, driven by “type of revenue” and Commerce Plus disclosed in MD&A. Revenue Customers “Customer-Centric” $3.5M (+1%
Slide 18: Plus Continues to Gain Traction
FINANCIAL PERFORMANCE Plus Continues to Gain Traction 22% CAGR from Q3’23 -> Q3’26 Total Plus Revenue Plus grew 18% YoY in Q3’26 Expanding ARPU Plus ARPU grew by 24% YoY in Q3’26 Building a Durable Revenue Base >50% of New Deals are Multi-Year For the quarter ended Sept 30, 2026, unless otherwise no
Slide 19: Thinkific Commerce
Trailing Twelve Months Thinkific Commerce Revenue $14.3M; 4.4% take rate Thinkific Commerce Helping more customers earn more GPV Customer Sales on Thinkific Commerce $294M (66% of GMV) Total Customer Sales GMV Customer Sales processed Processed on & off-platform on-platform ~$723M* $448M Differentia
Slide 20: Financial Outlook Q4 2026
Financial Outlook Q4 2026 For the fourth quarter of 2026, the Company expects revenue of $18.9 - $19.2 million, while improving Adjusted EBITDA(1) to a range of 20% to 25% of revenue. Please see commentary and disclaimers in future looking information in the MD&A and press release. (1) “Adjusted EBI
Slide 21: Thank you
Thank you Presented by Thinkific For more information, Investor Relations please contact: ir@thinkific.com
Slide 22: Appendix
Appendix Thinkific 2026 22
Slide 23: Definitions
APPENDIX Definitions “Annual Recurring Revenue” or “ARR” is twelve times the monthly value of all current Paying Customer subscriptions at the end of the period, with the number of Paying Customers multiplied by the average monthly subscription plan fee in effect on the last day of that period. “Ave
Slide 24: Adjusted EBITDA reconciliation
APPENDIX “Adjusted EBITDA” is a Non-IFRS measure defined as Net income (loss) excluding taxes, interest, depreciation and amortization (or EBITDA), as adjusted for stock-based compensation, foreign exchange (gain) loss, finance expense, gain/loss on disposal and restructuring costs. Adjusted EBITDA