Slide 1: Powering the World's Top Learning Businesses
Powering the World’s Top Learning Businesses Q2 F2025 Earnings Presentation
Slide 2: Disclaimer
DISCLAIMER This presentation of Thinkific Labs Inc. (“the Company”, “Thinkific”, “us” or “we”) is as of August 6, 2025. 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: Thinkific at a Glance
THNC (TSX) Thinkific at a Glance $61M $242M $454M Annual Recurring LTM Gross Payments LTM Gross Merchandise $71M Revenue (+6% YoY) Volume (+49% YoY) Volume (-1% YoY) LTM Revenue (+13% YoY) $169 $52M $3.8M Monthly ARPU Cash on Balance Sheet Adjusted EBITDA (+9% YoY) (no debt) (5% margin) For the last
Slide 5: Greg Smith CEO, Corinne Hua CFO
Greg Smith Corinne Hua CEO CFO Thinkific 2025 5
Slide 6: Launch of a New Strategic Direction
Launch of a New Strategic Direction “Q2 marked the official launch of our move upmarket and we are now well underway to executing on a strategy aligning Thinkific’s differentiated learning commerce platform to support our ideal customers. By leveraging our core strengths: integrating courses, commun
Slide 7: 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 businesses. Jacques Wong Founder, PNC Learning Has made millions offering
Slide 8: Who Are Our Customers?
Who Are Our Customers? Training Companies / Academies Our Customers sell expertise as a principal part of their business. They span a diverse set of Subject Matter Experts topics. They each come to us with a need to monetize their expertise, seeking Thinkific's deep commerce and learning functionali
Slide 9: Commerce is a Competitive Advantage
THINKIFIC COMMERCE Commerce is a Competitive Advantage Thinkific Commerce is a comprehensive solution built to scale with our customers ● Performance Checkout ● Abandoned Cart Emails ● Payment Options ● Buy Now, Pay Later ● Sales Tax Management ● Reporting & Analytics Historical metrics shown for co
Slide 10: Built for Growth, Sell & Manage at Scale
Built for Growth Sell & Manage at Exceptional Enterprise Scale Service Flexibility Unlock exclusive Simplify workflows Get 1:1 onboarding Adapt as you grow features like with tools for B2B and support from a with multi-site Advanced Analytics, selling, payments, dedicated success support, SSO, API L
Slide 11: Rightlane
THINKIFIC PLUS CUSTOMER SUCCESS STORY Rightlane Rightlane wanted to transform their Defensive Driving Academy business by taking their in-person defensive driving courses online to expand their reach. By leveraging Thinkific Plus and Thinkific Commerce, they were able to open up multiple sites in a
Slide 12: Anaconda
THINKIFIC PLUS CUSTOMER SUCCESS STORY ANACONDA Anaconda, Inc. offers the worldʼs most widely adopted distribution and enterprise platform for Python and R. It believes in empowering educators, students, and researchers to achieve their full potential in data science and machine learning. "Thinkific
Slide 13: Build on Thinkific, Sell on Spotify!
Build on Thinkific, Sell on Spotify! “We're thrilled to partner with Spotify and give Thinkific customers unique access to this exciting test program, providing an outstanding new distribution channel to reach engaged audiences and build their online education businesses.” Greg Smith, CEO of Thinkif
Slide 14: Recognition / Awards
Recognition / Awards TrustRadius with a 2025 Top Rated Award Thinkific 2025 14
Slide 15: Q2 Financial Overview
Q2 Financial Overview Thinkific 2025 15
Slide 16: Q2 F2025 Financial Highlights
THNC (TSX) Q2 F2025 Financial Highlights $61M $65M $111M Annual Recurring Gross Payments Volume Gross Merchandise $18M Revenue (+6% YoY) (+48% YoY) Volume (flat YoY) Revenue (+12% YoY) $169 $52M $1M Monthly ARPU Cash on Balance Sheet Adjusted EBITDA (+9% YoY) (no debt) (6% margin) For the quarter en
Slide 17: Multiple Levers Driving Revenue Growth in Q2
FINANCIAL PERFORMANCE Multiple Levers Driving Revenue Growth in Q2 Self Service Subscription Revenue Customers “Product-Centric” $14.9M (+6% YoY) $13.4M (+8% YoY) Financial Statement view, driven by “type of revenue” and Commerce Plus disclosed in MD&A. Revenue Customers “Customer-Centric” $3.2M (+4
Slide 18: Plus Continues to Gain Traction
FINANCIAL PERFORMANCE Plus Continues to Gain Traction 29% CAGR from Q2’22 -> Q2’25 Total Plus Revenue Plus grew 25% YoY in Q2’25 Landing Larger Customers Average new deal size increased 22% YoY, lifting overall Plus ARPU by 6% YoY Building a Durable Revenue Base 56% of New Deals are Multi-Year For t
Slide 19: Commerce is a Key Lever for Growth
FINANCIAL PERFORMANCE Commerce is a Key Lever for Growth 68% CAGR from Q2’22 -> Q2’25 Total Commerce Revenue Commerce grew 48% YoY in Q2’25. Untapped Growth in Existing Base Significant runway for continued growth by increasing Plus penetration and capturing off-platform GMV For the quarter ended Ju
Slide 20: Adjusted EBITDA
FINANCIAL PERFORMANCE Adjusted EBITDA (1) Committed to profitable growth while investing to accelerate product and marketing initiatives in support of our move upmarket. (1) “Adjusted EBITDA” is a Non-GAAP measure defined as Net income (loss) excluding taxes, interest, depreciation and amortization
Slide 21: Thinkific Commerce: Last Twelve Months Snapshot
LAST TWELVE MONTHS SNAPSHOT Thinkific Commerce Revenue $12.4M; 4.5% take rate Thinkific Commerce Helping more customers earn more GPV Customer Sales on Thinkific Commerce $242M (53% of GMV) Total Customer Sales GMV Customer Sales processed Processed on & off-platform on-platform ~$721M* $454M Differ
Slide 22: Growth Drivers
Growth Drivers Move Upmarket Commerce Thinkific Plus Agentic Learning Investing in customers that Grow Thinkific Commerce Business that commercialize AI assisted content creation get greater value from penetration with Plus learning generate higher ARR and automation of Thinkific customers and have
Slide 23: Financial Outlook Q3 2025
Financial Outlook Q3 2025 For the 3rd quarter of 2025, the company expects revenue of $18.1-$18.4 million while maintaining positive Adjusted EBITDA(1). Please see commentary and disclaimers in future looking information in the MD&A and press release. (1) “Adjusted EBITDA” is a Non-GAAP measure defi
Slide 24: Thank you
Thank you Presented by Thinkific For more information, Investor Relations please contact: ir@thinkific.com
Slide 25: Appendix
Appendix Thinkific 2025 25
Slide 26: 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 27: 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