Added to YB: 2026-09-14
Pitch date: 2026-09-10
DTOL.TO [neutral]
D2L Inc.
Author Info
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Company Info
D2L Inc. provides cloud-based learning software for higher education institutions, kindergarten to grade 12 schools and districts, and private sector enterprises in Canada, the United States, and internationally.
Market Cap
CAD 398.6M
Pitch Price
N/A
Price Target
11.56
Dividend
N/A
EV/EBITDA
17.82
P/E
358.32
EV/Sales
1.36
Sector
Diversified Consumer Services
Category
turnaround
D2L: A challenged second quarter, but improving execution could revive the case for this cash-rich software platform.
DTOL.TO (earnings): D2L’s Q2 weakened the near-term case: revenue rose 1.5%, ARR fell to US$223.4M and adjusted EBITDA declined 14.1%, while revenue guidance was cut and profit guidance held. The debt-free balance sheet and Lumi’s US$5M-plus ARR support business quality, but the C$11.56 base case requires U.S. K-12 churn to normalize and expense growth to flatten. The board declined to engage with an April C$10.50 cash proposal, while SkillsWave remains a governance concern.
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