Slide 1: Q2 2026 Earnings Call
Q2 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 August 5, 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 MEASURES
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: Turning the Corner: Improving Profitability
Turning the Corner: Improving Profitability “We are pleased to report Q2 results that demonstrate improving performance on our strategic focus to move upmarket, driven by sharper go-to-market execution and accelerated product and feature innovations,” said Greg Smith, CEO and Founder of Thinkific. “
Slide 5: Thinkific at a Glance
THNC (TSX) Thinkific at a Glance All $USD $62M $291M $456M Annual Recurring LTM Gross Payments LTM Gross Merchandise $75M Revenue (+2% YoY) Volume (+20% YoY) Volume (1% YoY) LTM Revenue (+5% YoY) $177 $51M $1.9M Monthly ARPU Cash on Balance Sheet LTM Adjusted EBITDA (+5% YoY) (no debt) (2.5% margin)
Slide 6: Building an industry-leading learning commerce platform
Building an industry-leading learning commerce platform ~35,000 $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 CRO CPO Thinkific 2026 7
Slide 8: The Learning Commerce Platform
The Learning Commerce Platform The Thinkific Learning Commerce Platform 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 Founder, PNC Learning Has made millions offer
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: Q2 F26 Financial Overview
Q2 F26 Financial Overview Thinkific 2026 15
Slide 16: Q2 F2026 Financial Highlights
THNC (TSX) Q2 F2026 Financial Highlights $62M $71M $107M Annual Recurring Gross Payments Volume Gross Merchandise $18.6M Revenue (+2% YoY) (+10% YoY) Volume (-4% YoY) Revenue (+3% YoY) $177 $51M $0.3M Monthly ARPU Cash on Balance Sheet Adjusted EBITDA (+5% YoY) (no debt) (1% margin) For the quarter
Slide 17: Multiple Levers Driving Revenue Growth
FINANCIAL PERFORMANCE Multiple Levers Driving Revenue Growth in Q1 Self Service Subscription Revenue Customers “Product-Centric” $15.2M (3% YoY) $13.3M (-1% YoY) Financial Statement view, driven by “type of revenue” and Commerce Plus disclosed in MD&A. Revenue Customers “Customer-Centric” $3.4M (+4%
Slide 18: Plus Continues to Gain Traction
FINANCIAL PERFORMANCE Plus Continues to Gain Traction 16% CAGR from Q2’23 -> Q2’26 Total Plus Revenue Plus grew 14% YoY in Q2’26 Expanding ARPU Plus ARPU grew by 14% YoY in Q2’26 Building a Durable Revenue Base >50% of New Deals are Multi-Year For the quarter ended June 30, 2026, unless otherwise no
Slide 19: Thinkific Commerce
Trailing Twelve Months Thinkific Commerce Revenue $13.8M; 4.4% take rate Thinkific Commerce Helping more customers earn more GPV Customer Sales on Thinkific Commerce $291M (64% of GMV) Total Customer Sales GMV Customer Sales processed Processed on & off-platform on-platform ~$743M* $456M Differentia
Slide 20: Growth Drivers
Growth Drivers Move Upmarket Commerce AI Learning Thinkific Plus Investing in customers that Grow Thinkific Commerce AI assisted content creation Business that commercialize get greater value from penetration with Plus and automation of learning generate higher ARR Thinkific customers administrative
Slide 21: Financial Outlook Q3 2026
Financial Outlook Q3 2026 For the second quarter of 2026, the Company expects revenue of $18.6 - $18.9 million, while while improving Adjusted EBITDA(1) to a range of 2% to 5% of revenue. Please see commentary and disclaimers in future looking information in the MD&A and press release. (1) “Adjusted
Slide 22: Thank you
Thank you Presented by Thinkific For more information, Investor Relations please contact: ir@thinkific.com
Slide 23: Appendix
Appendix Thinkific 2026 23
Slide 24: 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 25: Adjusted EBITDA Reconciliation
APPENDIX “Adjusted EBITDA” is a Non-GAAP 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 income, and non-recurring equity transaction costs. Adjusted EBITDA does