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Exam Code: CITP Practice test 2022 by Killexams.com team
CITP Certified Information Technology Professional (CITP)

The content of the Certified Information Technology Professional (CITP) Examination was developed to test a candidates understanding of the fundamental sections of the CITP body of knowledge. The content of each of the topical sections is described in outline form and provides an overview of the knowledge and skills tested on the CITP Examination.
The examination questions are intended to test each content area and its logical extensions.
The percentage following each major content area in the outline represents the approximate weighting for that content area. The examination is fully computerized and consists of multiple-choice questions only

Module I: Information Security & Cyber Risks
A. Information Security Governance (25%)
1. Information security strategy
2. Policy, procedures, processes, and standards
3. Logical access controls
4. Hardware and physical access controls
5. Security authorization & authentication
6. Business continuity & disaster recovery
B. Cybersecurity Risk Management (12%)
1. Cybersecurity threats
2. Data breaches and privacy
3. Vulnerability management
C. SOC for Cybersecurity (3%)
1. Purpose
2. Content
3. Target audiences
4. How to use in conjunction with cybersecurity risk mitigation
Module II: Business Intelligence, Data Management and Analytics
A. Data Management (5%)
1. Information lifecycle management
2. Infrastructures and platforms
3. Data preparation/manipulation
4. Data governance
B. Data Analysis & Reporting (11%)
1. Data analytics
2. Predictive analytics
3. Audit data analytics
C. Business Intelligence Management (4%)
1. Digital transformation & technology disruptors
2. Data integration
3. Data warehousing
Module III: IT Governance, Risks & Controls
A. IT Governance & Strategy (15%)
1. Role of IT governance within an organization
2. IT governance principles
3. IT governance roles & responsibilities
4. IT governance implementation
5. Benefits of effective IT governance
B. IT Risks, Process & Controls (15%)
1. IT risk identification and assessment
2. IT control frameworks
3. IT general controls
4. Application controls
5. Business process management
6. Change management
7. Assessment of IT controls
C. System and Organization Controls Reporting (10%)
1. System and Organization Controls Reporting Overview
2. Types of Reporting

Detailed content specification outline
Module 1. Information Security & Cyber Risks
This module focuses on the security and risk management of systems and environments, including the use of the SOC for Cybersecurity report as a tool for reporting IT security and risk management for companies.
Information Security Governance — Covers the key areas of information security, including strategy, policies/procedures, control environments, and business continuity/disaster recovery; includes fundamental knowledge of various IT governance frameworks, logical access at the various levels of the “stack,” and the internal control structure of design, implementation, monitoring, and detection/reporting
Cybersecurity Risk Management — Covers the major threat vectors for systems, including cyber adversaries, the cybercrime economy
and various types of attacks; also includes data breaches and their impact on information privacy, as well as how to manage system vulnerabilities
SOC for Cybersecurity — Covers the SOC for Cyber report, including report content, target users and use of the report in conjunction with an entitys overall cybersecurity risk mitigation strategy

A. Information Security Governance (25%)
1. Information security strategy
a. Objectives
b. Components
c. Alignment with organizational strategy, IT strategy
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 1 — Information Security Governance
2. Policy, procedures, processes, and standards
a. Frameworks
b. Compliance with applicable laws and regulations
c. Roles and responsibilities
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 1 — Information Security Governance
3. Logical access controls
a. Objectives
b. Data (transactional. level
c. Application and financial system level
d. Network level
e. Identifying, designing, implementing, monitoring, detecting and reporting
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 3 — Logical access controls
4. Hardware and physical access controls
a. Objectives
b. Identifying, designing, implementing, monitoring, detecting and reporting
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 4 — Physical access controls
5. Security authorization and authentication Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 2 — Identity and access management
6. Business continuity and disaster recovery
a. Business continuity plan (BCP)
b. Disaster recovery plan (DRP)
c. Incident response plan (IRP)
d. Data backup and recovery
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 6 — Business continuity management

B. Cybersecurity Risk Management (12%)
1. Cybersecurity threats
a. Primary types of cyber adversaries (how to identify, what is their motivation.
1. How to identify
2. What is their motivation
3. How to manage/mitigate risk
4. Terms to use — Hacktivists, Nation states, Cybercriminals, Insider threat,
Competitors
b. Cybercrime economy (what could potentially drive a cybercrime against
a company.
c. Types of attacks
1. How to identify
2. Effect on the business/financials
3. How to manage/mitigate risk
4. Terms to use — Classic buffer overflow, Web-based application attacks,
Denial of Service/DDoS, Malware, ransomware, and spyware,
phishing/spear phishing, Social engineering
Cybersecurity Fundamentals for Finance &
Accounting Professionals Certificate Program
CPE self-study
Author: Christopher J. Romeo
Publisher: AICPA
2. Data breaches and privacy
a. Causes of a data breach
b. Organizational impact of a data breach
c. Post breach response (business/financial point of view)
d. Personally Identifiable Information (PII)
Cybersecurity Fundamentals for Finance and
Accounting Professionals Certificate Program
CPE self-study
Author: Christopher J. Romeo
Publisher: AICPA
3. Vulnerability management
a. Gap analysis, readiness and risk assessments, vulnerability assessments,
penetration testing (identification of vulnerabilities and how they could impact
business/financials.
b. Security policy & plan development (input regarding business/financial
implications in the policies/procedures.
1. Identity and access management (IAM)
2. Data loss management and prevention
Cybersecurity Fundamentals for Finance and
Accounting Professionals Certificate Program
CPE self-study
Author: Christopher J. Romeo
Publisher: AICPA
C. AICPA Cybersecurity Risk Management Reporting Framework (SOC for Cybersecurity) (3%)
1. Purpose
SOC for Cybersecurity Certificate Program
CPE self-study
Authors: Tony Chapman, Anurag Sharma
Publisher: AICPA
2. Content
SOC for Cybersecurity Certificate Program
CPE self-study
Authors: Tony Chapman, Anurag Sharma
Publisher: AICPA
3. Target audiences
SOC for Cybersecurity Certificate Program
CPE self-study
Authors: Tony Chapman, Anurag Sharma
Publisher: AICPA
Detailed content specification outline
Module II. Business Intelligence, Data Management & Analytics
This module focuses on information management and the utilization of information to provide value in decision-making and other managerial needs.
Data Management — Covers the information lifecycle, from identification of system information through destruction and the various types
of infrastructures and ERPs to support data; also discusses how data is collected and manipulated, including consolidation, cleaning, transformation, reduction, processing, etc.; lastly, covers the governance of data including objectives, strategy, and policies Data Analysis & Reporting — Covers the various types of data analytics, the tools and procedures to perform an analysis, and the methods of reporting and performance indicators; also covers the use of predictive analytics, including the various models, techniques, applications and deployment; lastly, covers the integration of analytics in the audit process, including risks and assertions, and continuous assurance Business Intelligence Management — Covers the various forms of technology disruptors, including cloud tech, IoT, and AI; also covers the use of data integration (ETL, EAI and EDR) as well as data warehousing (Active, OLAP, ROLAP, MOLAP, HOLAP and DOLAP)

A. Data Management (5%)
1. Information Lifecycle Management
a. Identify
b. Capture
c. Manage
d. Utilize
e. Archive
f. Retention
g. Destruction
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
2. Infrastructures & platforms
a. Types of Infrastructure/Platforms typically employed
1. ERP or other enterprise software
i. ERP implementation
2. Data warehouse infrastructure
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Data Visualization Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
3. Data preparation/manipulation
a. Data consolidation
b. Data mapping and collection
c. Data selection
d. Data cleaning
e. Data transformation
f. Data reduction
g. Data processing
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA

A. Data Management (5%)
4. Data governance
a. Objectives
b. Principles
c. Strategy
d. Policy
e. Architecture
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams,
Mike Beavers
Publisher: AICPA
Module 1 — Information Security Governance
B. Data Analysis & Reporting (11%)
1. Data analytics
a. Types
1. Quantitative analysis
2. Descriptive statistics
3. Data visualization
b. Tools, techniques, and procedures
c. Performance metrics and reporting
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
Data Visualization Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
2. Predictive analytics
a. Types
1. Predictive models
2. Descriptive models
3. Decision models
b. Techniques
1. Regression
2. Machine learning
c. Applications of predictive analytics
d. Deployment
Forecasting and Predictive Analytics Certificate
Program
CPE self-study
Publisher: AICPA
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
3. Audit data analytics
a. Integrating analytics into the audit process
1. Audit applications of data analytics
2. Correlating audit tasks to risks and assertions
3. Continuous assurance
Integrating Audit Data Analytics into the Audit
Process
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA

C. Business Intelligence Management (4%)
1. Digital transformation & technology disruptors
a. Cloud
b. Internet of Things (IoT)
c. Artificial intelligence
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
2. Data integration
a. Extract, Transform, and Load (ETL)
b. Enterprise Application Integration (EAI)
c. Enterprise Data Replication (EDR)
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA
Data Analysis Fundamentals Certificate Program
CPE self-study
Publisher: AICPA
3. Data warehousing
a. Role in supporting BI
b. Architecture and components
c. Types
1. Active Data Warehousing
2. Multi-dimensional Analysis — OLAP
3. ROLAP, MOLAP, HOLAP and DOLAP
Data Analytics Modeling Certificate Program
CPE self-study
Publisher: AICPA
Data Visualization Certificate Program
CPE self-study
Publisher: AICPA
Analytics and Big Data for Accountants
CPE self-study
Author: Jim Lindell
Publisher: AICPA

Detailed content specification outline
Module III: IT Governance, Risks & Controls
This includes knowledge pertaining to information technology risk and advisory services, engagement compliance, and IT controls and assessment. It also covers knowledge of various IT frameworks and related controls, including the use of SOC reporting as a framework to showcase a service organizations internal control environment.
IT Governance & Strategy — Covers the objectives, strategic planning, implementation and management of the IT function within an organization, as well as mitigation of risk; focuses on the management of value, resources, and performance in relation to key components and best practices of the IT function IT Risks, Process, & Controls — Discusses various IT frameworks, including COSO and COBIT, and the integration of frameworks with IT assessments; covers a variety of key control areas for IT assessments, including ITGCs, application, business process and change management controls System and Organizational Controls (SOC) Reporting — Focuses on the purposes for SOC reporting, the users of SOC reports, and the responsibilities of user auditors

A. IT Governance & Strategy (15%)
1. Role of IT governance within an organization
a. IT governance objectives
b. Management of the IT function
c. Mitigation of IT risk
d. IT strategic plan
1. Alignment with organizational strategy
IT Governance, Risks & Controls
CPE self-study
Publisher: AICPA
Module 1 — Role of IT Governance
Information Strategy
CPE self-study
Author: Kaplan Publishing Limited
Publisher: AICPA
2. IT governance principles
a. Strategy and planning
1. Key components
2. Best practices
b. Value delivery management
1. Key components
2. Best practices
c. Resource management
1. Key components
2. Best practices
d. Risk management
1. Key components
2. Best practices
e. Performance management
1. Key components
2. Best practices
IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 1 — Role of IT Governance
3. IT governance roles and responsibilities IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 1 — Role of IT Governance
4. IT governance implementation IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 2 — Implement and Assess IT Governance
5. Benefits of effective IT governance IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 2 — Implement and Assess IT Governance

B. IT Risks, Process & Controls (15%)
1. IT risk identification and assessment IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 3 — IT Risk Management
Risk and Control of Information Systems
CPE self-study
Author: Kaplan Publishing Limited
Publisher: AICPA
2. IT control frameworks
a. COSO
1. Categories of objectives
2. Integrated components & principles
b. COBIT
1. Domains
c. Integration of control frameworks
COSO Internal Control Certificate Program
CPE self-study
Publisher: Committee of Sponsoring Organizations
(COSO.
Internal Control and COSO Essentials for Financial
Managers, Accountants and Auditors
CPE self-study
Author: Glenn L. Helms
IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 4 — IT Controls
3. IT general controls
a. Objectives of IT general controls
b. Types of IT general controls (including ERP)
IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 4 — IT Controls
Risk and Control of Information Systems
CPE self-study
Author: Kaplan Publishing Limited
Publisher: AICPA
Information Security Governance
CPE self-study
Authors: Gwenn Bettwy, Mark Williams, Mike
Beavers
Publisher: AICPA
Module 3 — Logical access controls
4. Application controls
a. Objectives of application controls
b. Input controls
c. Processing controls
d. Output controls
IT Governance, Risks, and Controls
CPE self-study
Publisher: AICPA
Module 4 — IT Controls
Risk and Control of Information Systems
CPE self-study
Author: Kaplan Publishing Limited
Publisher: AICPA
Information Security Governance
CPE self-study
Authors: Gwen Bettwy, Mark Williams, Mike Beavers
Publisher: AICPA
Module 3 — Logical access controls

Certified Information Technology Professional (CITP)
Financial Professional learner
Killexams : Financial Professional learner - BingNews https://killexams.com/pass4sure/exam-detail/CITP Search results Killexams : Financial Professional learner - BingNews https://killexams.com/pass4sure/exam-detail/CITP https://killexams.com/exam_list/Financial Killexams : These four free personal finance courses can set you up for financial success in three hours or less

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners.

One of the most pivotal parts of an individual's livelihood is learning about personal finance, a term used to describe how one manages their money. It essentially encompasses everything from how you earn and spend your money to how you save, invest and borrow it.

Despite its importance in our everyday lives, however, personal finance is a subject that historically has been left off school curriculums, though that's now changing. As a result, many adults today have been left without any sort of proper education or guidance as to how their finances actually work.

Thankfully, there's an abundance of resources available online, including blogs and YouTube channels, that break down the basics of personal finance to help anyone start learning. For a more organized approach, online courses also exist, taught by vetted industry professionals and experts who are just a couple of clicks away.

Below, Select outlines four free online personal finance courses that can help you kickstart your financial journey — and don't require much time.

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1. Udemy's "Personal Finance 101: Everything You Need to Know"

Udemy is a massive online educational resource covering various topics.

A good place to begin learning about personal finance is through its "Personal Finance 101: Everything You Need to Know" course. By watching animated videos, users can learn basic personal finance Topics such as saving for college, retirement planning and the ins and outs of credit cards.

This three-hour class requires no prior knowledge of finance or statistics and will guide you with concise online lectures that are no longer than a few minutes each. More than 55,000 people are enrolled and reviewers are generally pleased with the content, giving the course an average rating of 4.5 out of 5 stars. You'll have to pay for a certificate of completion if you'd like one, but all the other course video content is available for free.

2. Skillshare's "My Financial Mountain: Understanding Your Path to a Solid Financial Foundation"

You may have already heard of Skillshare, as it's a popular online learning community offering all sorts of educational classes.

Though Skillshare is a subscription-based service, you can still sign up for a free trial and receive unlimited access to more than 35,000 classes. You can cancel the free trial at any time — once it elapses, you'll be charged $168 for the annual premium subscription plan.

We recommend beginners sign up for the free trial and take a course called "My Financial Mountain: Understanding Your Path to a Solid Financial Foundation" — it's only 24 minutes long and allows you to breeze through Topics such as saving for the future and financial planning.

While it's definitely not a deep dive into personal finance and you won't receive a certificate for completing it, this class will help put first-timers on track to understanding the key concepts, since it also walks you through seven steps you can take to set up a strong financial foundation.

With an enrollment of about 850, this course exceeded 33% of reviewers' expectations and met 50%.

3. Alison's "Introduction to Managing Your Personal Finance Debts"

Alison — short for Advanced Learning Interactive Systems Online — is an education platform that offers free online courses with certificates and diplomas, though the latter are available for purchase. Users can use their programs to learn skills such as accounting, contract law, business management and graphic design, and there are loads of personal finance courses available.

One we suggest trying is Alison's "Introduction to Managing Your Personal Finance Debts," since so much of personal finance is related to balancing the different kinds of debt you may owe. This free course will teach you how to prioritize which debt to pay off first, how to organize your debts using a spreadsheet and how to negotiate interest rates with credit card companies, among other skills.

In 1.5 to 3 hours, you can learn about responsible debt management methods with the goal of preventing or alleviating personal debt problems. Along with the more than 40,000 people who are also enrolled, you'll earn a certificate and become an Alison Graduate by achieving an 80% or higher on all assessments.

Reviewers call this course "very informative" and "easy to follow," while it boasts a near perfect average five-star rating.

Those interested in learning more can take a look at Alison's free courses in wealth building, retirement savings, and financial freedom — all of which take under three hours to complete.

4. Coursera's "Create a Budget with Google Sheets"

Coursera is another digital educational course provider that's offered by some of the country's top universities and companies.

We especially like its "Create a Budget with Google Sheets" class, which teaches budgeting as well as how to navigate Google Sheets like a pro — let's face it, spreadsheets are the key to getting a good overview of your money.

In just one hour, you'll learn how to build, format and update your budget to help you reach your financial goals. About 8,000 people are already enrolled, and the course has an average rating of 4.7 out of 5 stars.

While you won't get a certificate for completing this course, you will end up with a professional budget to help keep your finances in order.

Bottom line

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

Wed, 20 Jul 2022 09:24:00 -0500 en text/html https://www.cnbc.com/select/free-personal-finance-courses/
Killexams : Seneca launches Centre for Executive & Professional Learning

Various professional learning options available, including new executive certificates for senior leaders

TORONTO, Aug. 3, 2022 /CNW/ - Executives, senior managers and other professionals have new academic options to take their careers to the next level, thanks to Seneca's new Centre for Executive & Professional Learning (CEPL).

The Centre for Executive & Professional Learning is located at Seneca Downtown, in the core of Canada's business and financial capital. (CNW Group/Seneca College)

Applicants can now register for executive certificate programs, microcredentials, workshops and courses designed to help professionals earn new industry designations and prepare for executive-level leadership.

Courses are available both online and in the high-tech classrooms at Seneca Downtown, Seneca's new Toronto location in the core of Canada's business and financial capital.

"Seneca's goal for CEPL is to prepare the next generation of senior leaders in Canada's workforce," said Marianne Marando, Vice-President, Academic and Students. "We are meeting professionals where they are with convenient delivery options, a great downtown location and industry-informed content that will help them become successful executives."

The first suite of Seneca's executive certificate programs focuses on Topics that are top of mind for today's executive leaders, including anti-money laundering governance, financial planning designations and science communication. CEPL also offers microcredentials and workshops on cybersecurity, finance, risk management and more.

"We are thrilled to support aspiring executives, senior managers, and professionals learners seeking industry designation through CEPL," said Kiley Bolton, the Centre's Director. "The breadth of program options provides a great foundation for executive-level leadership development. Participants will learn from industry leaders, who will prepare them to reach the next level in their careers."

Registration is now open for CEPL's September intake.

About Seneca:

Seneca is taking on the great challenges of our time – rebuilding the economy, equity and sustainability – while navigating through the pandemic safely. We're delivering great polytechnic education that combines rigorous academics with practical training. From health care to technology, business to creative arts, community services to arts and sciences, we help students get ready to make their mark in the world. We're #SenecaProud of our expert faculty, excellent staff and outstanding facilities. We have deep connections with industry and offer thousands of co-op and work placements to get our graduates job-ready. Full-time or part-time, in-person or online, students choose the option that suits them. Learn more: senecacollege.ca

Seneca College (CNW Group/Seneca College)

SOURCE Seneca College

Cision

View original content to get multimedia: http://www.newswire.ca/en/releases/archive/August2022/03/c4307.html

Wed, 03 Aug 2022 01:02:00 -0500 en-US text/html https://finance.yahoo.com/news/seneca-launches-centre-executive-professional-130200138.html
Killexams : Why agencies continue to invest in training and education even as a potential recession adds financial pressure

More agencies are providing in-house education to level up their employees in an increasingly competitive hybrid workplace.

These aren’t your typical four-year colleges culminating in a degree or graduations: think free hybrid learning and career development tailored to today’s marketers and media professionals. Organizations from WPP’s media arm GroupM to global marketing firm Kepler Group have established their own learning and development schools aimed at helping employees pursue advanced careers and keep pace in a fast-moving industry. More importantly, agencies that invest in learning may have a leg up when it comes to recruiting and retention — and it’s a spend they say they plan to keep even as the entire marketing landscape descends into a potential recession.

“There are evolving needs of the workforce to attract and retain talent, and agencies are looking to answer that in a few different ways,” Sean McGlade, svp of talent and learning solutions at the American Association of Advertising Agencies (4A’s), told Digiday. “[They] have to be more receptive to getting people up from the ground and … deliver people a sense of belonging right away.”

In the coming months, 4A’s will continue rolling out its so-called agency accelerator program, designed to support agencies that may have gaps in their resources and training programs. It offers four certifications for onboarding as well as foundational training for new hires and newcomers in the first three years of their careers.

But the wealth of online training materials alone can be overwhelming, from business schools to online providers like Udemy or Coursera, which means the agencies are challenged to find content that’s relevant, current and high quality. Agencies could actually help employees cut down on time searching for resources by creating their own content, McGlade said.

GroupM University opened its school this past March with a $15 million commitment over three years to provide training, career coaching and personal enrichment classes for employees. Launch Pad participants complete a 12-week curriculum, offered both online and in-person, focused on Topics in media foundations, building networks and business communication. The first cohort in the U.S. began this June and marks the first year of the program launched in North America.

Brian Dashew, named GroupM’s head of learning and development for North America in July, designed the curriculum. Coming from Rutgers University and Columbia University, Dashew sees continuous learning as personal to that employee’s career experience. GroupM tailors programming to a person’s profile to recommend content at different stages of their career.

“This is more than training,” Dashew said. “The media industry is not a space in which anybody can ever really claim to be done learning.”

GroupM University’s program may eventually get linked with internal credentialing at the agency. The goal of their training is to help people understand their career paths within GroupM and provide the tools and resources for them to grow in their roles. Career development and goal-setting are built into the various learning pathways in order to support the individual’s development.

“We are imagining new ways of offering internal credentials that make mobility across the organization more viable,” Dashew said.

Similarly, Kepler Group’s Kepler University offers a mix of 50 in-person, live and on-demand courses designed for marketing experts to advance into advisory and consulting roles. Kepler has offered internal learning and development since its founding in 2012, according to the company, and it has continued updating the content with the help of subject matter experts within the organization.

“We haven’t let it go stale,” said Karinna Maldonado, director of learning and development for Kepler. “Career development is a hot topic.”

Kepler’s courses cover a range of subjects, from brand safety to campaign analytics, and follow several different learning paths with a course structure, not unlike universities. But unlike a college class, lectures are not just instructors presenting to a room of students — students are guided by peer-to-peer learning, self-reflection time after class, and other practice exercises, such as working in sandbox environments on platforms.

Maldonado emphasized that organizations have to make time for learning. Kepler newcomers, for example, get three uninterrupted weeks for onboarding and learning. And with Kepler’s 2020 acquisition of Infectious Media, based in London and Singapore, the company has had to think globally about expanding its learning tools.

“It impacted how we think about our employees,” Maldonado said. “We localize content where it makes sense … such as [General Data Protection Regulation] for advertising.”

While Kepler did not provide an investment figure (it estimated a cost “in the millions”) for its university programs, developing people comes at a cost to organizations. With a potential recession looming, 4A’s’ McGlade pointed out training is often “the first casualty” in budget cuts. But asked whether Kepler foresees any cuts in this department, Maldonado said only that they will “keep investing” in employees.

GroupM echoed that it has “no intention to scale back” any committed spending on learning. “There is absolutely a high cost associated with developing talent, but the reality is that there is an even higher cost associated with not developing talent,” Dashew said.

https://digiday.com/?p=458811

Tue, 02 Aug 2022 04:29:00 -0500 en-US text/html https://digiday.com/media/agencies-invest-training-education-recession/
Killexams : Jackson State University will introduce a new Professional Accountancy program in the fall

Jackson State College of Business

Jackson State University recently announced two online professional accountancy programs that will begin in the fall semester.

"Professionally the program will be the same as our university in-person programs as far as the curriculum," said Dr. Fidelis Ikem, dean of College and Business at Jackson State in a press release. "The eight-week course will allow students to learn financial and accounting skills to prepare them for the accounting and business industry.

"The deadline to register for the accountancy classes is the same as our university registration deadline ...which is Sept. 1 for traditional students and Aug. 20 for online students. The two new online programs align with JSU’s strategic student success and academic performance."

Courtesy of : Jackson State University College of Bussiness

Students who enroll through the school will have free admission for the fall semester, but if not the program will cost close to $3,000, the press release states. Students will also have access to a Becker CPA Readiness Program, which is sponsored by Deloitte.

"The Master of Professional Accountancy and Bachelor of Business Administration will be available for in-person learning also," the press release states.

"We have accepted several students thus far... that we believe will be a great addition to the program," Ikem said. "The curriculum will deliver performances through business administration and accounting, finance and entrepreneurship.

"JSU Students will have the opportunity to earn a master’s degree in accountancy through CPA test preparatory classes. Students must complete 150 hours to qualify for the CPA test according to the university guidelines."

"JSU College of Business is named among the 6% of business schools worldwide accredited by the Association for Advancement of Collegiate Schools of Business," school officials said. "This differentiates business and accounting programs from other institutions in terms of quality, rigor and relevance."

Deontae Williams/University Communications

Ikem said the accountancy program classes will expand the university's reach in the state and beyond.

“This gives us another tool in our portfolio to address the needs of those in situations that do not allow them to come to campus in person," Ikem said. "It expands our reach in the state and beyond. Many people want a Jackson State University degree, so we’re giving them that capability online regardless of where they reside.”

For additional information email: anthony.j.howard@jsums.edu

This article originally appeared on Mississippi Clarion Ledger: Jackson State University will have a new accountancy program in the fall

Mon, 01 Aug 2022 14:01:00 -0500 en-US text/html https://www.yahoo.com/news/jackson-state-university-introduce-professional-020108898.html
Killexams : Reuel Matthew's New Book 'Financial Analysis 101' Brings an Important Guide That Will Pave the Way Towards Financial Literacy No result found, try new keyword!Fulton Books author Reuel Matthew, an experienced financial professional, has completed his most latest book "Financial Analysis 101": an extensive manual that simplifies the intricacies of finance. Mon, 01 Aug 2022 22:00:00 -0500 https://finance.dailyherald.com/dailyherald/article/newswire-2022-8-2-reuel-matthews-new-book-financial-analysis-101-brings-an-important-guide-that-will-pave-the-way-towards-financial-literacy Killexams : Coursera Reports Second Quarter 2022 Financial Results

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Jul 27, 2022--

Coursera (NYSE: COUR) today announced financial results for its second quarter ended June 30, 2022.

“The combination of online learning and remote work has the power to create greater access to high-quality education and unlock broader economic opportunity,” said Coursera CEO Jeff Maggioncalda. “We continue to see strong demand from businesses, governments, and academic institutions looking to deliver the in-demand skills and industry-recognized credentials required to enter digital jobs.”

Financial Highlights for Second Quarter 2022

  • Total revenue was $124.8 million, up 22% from $102.1 million a year ago.
  • Gross profit was $78.4 million or 62.8% of revenue, up 29% from $60.9 million a year ago. Non-GAAP gross profit was $79.2 million or 63.5% of revenue, up 28% from $61.8 million a year ago.
  • Net loss was $(49.3) million or (39.5)% of revenue, compared to $(46.4) million or (45.4)% of revenue a year ago. Non-GAAP net loss was $(21.6) million or (17.3)% of revenue, compared to $(6.9) million or (6.8)% of revenue a year ago.
  • Adjusted EBITDA was $(15.6) million or (12.5)% of revenue, compared to $(2.9) million or (2.9)% of revenue a year ago.
  • Net cash provided by operating activities was $0.9 million, compared to $(5.5) million used in operating activities a year ago. Free cash flow was $(3.2) million, compared to $(8.5) million a year ago.

For more information regarding the non-GAAP financial measures discussed in this press release, please see “Non-GAAP Financial Measures” and “Reconciliation of GAAP to Non-GAAP Financial Measures” below.

“Our second-quarter results reflect strong demand for our entry-level Professional Certificates and sustained revenue growth across our Enterprise segment,” said Ken Hahn, Coursera’s CFO. “With our three-sided platform, diversified offerings, and global learner base, we have multiple levers of growth to navigate the long-term trends shaping higher education.”

Operating Segment Highlights

  • Consumer revenue for the second quarter was $69.7 million, up 12% from a year ago on increased demand for our expanding portfolio of entry-level Professional Certificates. Segment gross margin was $50.7 million, or 73% of Consumer revenue, compared to 66% a year ago. The company added 5 million new registered learners during the quarter for a total of 107 million.
  • Enterprise revenue for the second quarter was $43.7 million, up 55% from a year ago on sustained momentum across business, government, and campus customers. The total number of Paid Enterprise Customers increased to 958, up 64% from a year ago. Segment gross margin was $31.1 million, or 71% of Enterprise revenue, compared to 67% a year ago. Our Net Retention Rate (NRR) for Paid Enterprise Customers was 111%.
  • Degrees revenue for the second quarter was $11.4 million, down 4% from a year ago on lower-than-anticipated student enrollments. Segment gross margin was 100% of Degrees revenue as there is no content cost attributable to the Degrees segment. The total number of Degrees Students reached 17,460, up 19% from a year ago.

All key business metrics are as of June 30, 2022. For more information regarding the metrics discussed in this press release, please see “Key Business Metrics Definitions” below.

Content, Customer, and Platform Highlights

  • Content and Credentials:
    • Expanded our Meta partnership with 5 new entry-level Professional Certificates for in-demand careers in the field of software engineering, including front-end developer, back-end developer, Android developer, iOS developer, and database engineer.
    • Announced 3 new degree programs, including a partnership with Northeastern University and Mayo Clinic to offer the first university and industry collaborative degree on Coursera with the Master in Management: Digital Transformation in Healthcare.
    • Welcomed 15 new educator partners to the platform, including 4 top-ranked Indian universities and industry leaders like Accenture, ADP, Campus BBVA, Coinbase, Genentech, Goodwill, Hero Mindmine, HR Certification Institute (HRCI), PwC India, SAP, and Tally Education.
  • Enterprise Customers:
    • Coursera for Business won new and expanded partnerships with customers across the globe, including Procter & Gamble (U.S.), PwC (India), Arcos Dorados (Latin America), Petrobras (Brazil), and Boubyan Bank (Kuwait).
    • Coursera for Government launched or deepened initiatives with the Prime Minister of Guyana and the Department of Public Affairs (Guyana), the Queensland AI Hub (Australia), and the National Transformation Initiative (Barbados).
    • Coursera for Campus saw strong momentum in the Americas, including a system-wide for-credit initiative with Louisiana Tech and the University of Louisiana System, as well as a curriculum integration effort across 30 academic programs at Universidad del Valle de México (UVM).
  • Learning Platform:
    • Launched Career Academy for institutions, a career training academy that leverages our entry-level Professional Certificates and Guided Projects, created by the world’s leading companies and experts. With Career Academy, any business, government, or academic institution can deliver the skills and industry credentials a learner needs to apply for a high-demand, entry-level digital job.
    • Introduced Clips for Coursera for Business customers, delivering short, actionable content on job-relevant topics, with easily accessible 5- to 10-minute videos and lessons surfaced within the context of longer courses for a clear path to deeper skills development.
    • Announced several new learner personalization features to motivate and support learners, including personalized schedules, data-driven deadlines, in-course coaching, and AI-powered nudges.

Highlights reflect developments since March 31, 2022 through today’s announcement. For additional information on these developments, see the Coursera Blog at blog.coursera.org.

Financial Outlook

  • Third quarter 2022:
    • Revenue in the range of $126 to $130 million
    • Adjusted EBITDA in the range of $(10.5) to $(13.5) million
  • Full year 2022:
    • Revenue in the range of $509 to $515 million
    • Adjusted EBITDA in the range of $(42.5) to $(48.5) million

Actual results may differ materially from Coursera’s Financial Outlook as a result of, among other things, the factors described under “Special Note on Forward-Looking Statements” below.

A reconciliation of our non-GAAP guidance measure (Adjusted EBITDA) to the corresponding GAAP guidance measure is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, expenses that may be incurred in the future. Stock-based compensation expense-related charges, including employer payroll tax-related items on employee stock transactions, are impacted by the timing of employee stock transactions, the future fair market value of our common stock, and our future hiring and retention needs, all of which are difficult to predict and subject to constant change. We have provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables for our historical non-GAAP financial results included in this press release.

Conference Call Details

As previously announced, Coursera will hold a conference call to discuss its second quarter 2022 performance today, July 27, 2022, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).

A live, audio-only webcast of the conference call and earnings release materials will be available to the public on the company’s Investor Relations page at investor.coursera.com. For those unable to listen to the broadcast live, an archived replay will be accessible in the same location for one year.

Disclosure Information

In compliance with disclosure obligations under Regulation FD, Coursera announces material information to the public through a variety of means, including filings with the Securities and Exchange Commission (“SEC”), press releases, company blog posts, public conference calls, and webcasts, as well as via Coursera’s investor relations website.

About Coursera

Coursera was launched in 2012 by two Stanford Computer Science professors, Andrew Ng and Daphne Koller, with a mission to provide universal access to world-class learning. It is now one of the largest online learning platforms in the world, with 107 million registered learners as of June 30, 2022. Coursera partners with over 275 leading university and industry partners to offer a broad catalog of content and credentials, including courses, Specializations, Professional Certificates, Guided Projects, and bachelor’s and master’s degrees. Institutions around the world use Coursera to upskill and reskill their employees, citizens, and students in fields such as data science, technology, and business. Coursera became a B Corp in February 2021.

Key Business Metrics Definitions

Registered Learners

We count the total number of registered learners at the end of each period. For purposes of determining our registered learner count, we treat each customer account that registers with a unique email as a registered learner and adjust for any spam, test accounts, and cancellations. Our registered learner count is not intended as a measure of active engagement. New registered learners are individuals that register in a particular period.

Paid Enterprise Customers

We count the total number of Paid Enterprise Customers at the end of each period. For purposes of determining our customer count, we treat each customer account that has a corresponding contract as a unique customer, and a single organization with multiple divisions, segments, or subsidiaries may be counted as multiple customers. We define a “Paid Enterprise Customer” as a customer who purchases Coursera via our direct sales force. For purposes of determining our Paid Enterprise Customer count, we exclude our Enterprise customers who do not purchase Coursera via our direct sales force, which include organizations engaging on our platform through our Coursera for Teams offering or through our channel partners.

Net Retention Rate (“NRR”) for Paid Enterprise Customers

We calculate annual recurring revenue (“ARR”) by annualizing each customer’s monthly recurring revenue (“MRR”) for the most latest month at period end. We calculate “Net Retention Rate” as of a period end by starting with the ARR from all Paid Enterprise Customers as of the 12 months prior to such period end, or Prior Period ARR. We then calculate the ARR from these same Paid Enterprise Customers as of the current period end (“Current Period ARR”). Current Period ARR includes expansion within Paid Enterprise Customers and is net of contraction or attrition over the trailing 12 months, but excludes revenue from new Paid Customers in the current period. We then divide the total Current Period ARR by the total Prior Period ARR to arrive at our Net Retention Rate.

Number of Degrees Students

We count the total number of Degrees students for each period. For purposes of determining our Degrees student count, we include all the students that are matriculated in a degree program and who are enrolled in one or more courses in such degree program during the period. If a degree term spans across multiple quarters, said student is counted as active in all quarters of the degree term. For purposes of determining our Degrees student count, we do not include students who are matriculated in the degree but are not enrolled in a course in that period.

Non-GAAP Financial Measures

In addition to financial information presented in accordance with GAAP, this press release includes non-GAAP gross profit, non-GAAP net loss, Adjusted EBITDA, Adjusted EBITDA margin, and Free Cash Flow, each of which is a non-GAAP financial measure. These are key measures used by our management to help us analyze our financial results, establish budgets and operational goals for managing our business, evaluate our performance, and make strategic decisions. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management and board of directors. In addition, we believe these measures are useful for period-to-period comparisons of our business. We also believe that the presentation of these non-GAAP financial measures provides an additional tool for investors to use in comparing our core business and results of operations over multiple periods with other companies in our industry, many of which present similar non-GAAP financial measures to investors, and to analyze our cash performance. However, the non-GAAP financial measures presented may not be comparable to similarly titled measures reported by other companies due to differences in the way that these measures are calculated. These non-GAAP financial measures are presented for supplemental informational purposes only and should not be considered as a substitute for or in isolation from financial information presented in accordance with GAAP. These non-GAAP financial measures have limitations as analytical tools.

Non-GAAP Gross Profit and Non-GAAP Net Loss

We define non-GAAP gross profit and non-GAAP net loss as GAAP gross profit and GAAP net loss excluding the impact of stock-based compensation and payroll tax expense related to stock-based activities. We believe the presentation of these adjusted operating results provides useful supplemental information to investors and facilitates the analysis and comparison of our operating results across reporting periods.

Adjusted EBITDA and Adjusted EBITDA Margin

We define Adjusted EBITDA as our GAAP net loss excluding: (1) depreciation and amortization; (2) interest income, net; (3) other expense (income), net; (4) stock-based compensation expense; (5) income tax expense; and (6) payroll tax expense related to stock-based activities. We define Adjusted EBITDA margin as Adjusted EBITDA divided by revenue.

Free Cash Flow

Free Cash Flow is a non-GAAP financial measure that we calculate as net cash provided by (used in) operating activities, less cash used for purchases of property, equipment, software, and capitalized internal-use software costs. Purchases of property, equipment, and software and capitalized internal-use software costs are considered necessary components of our ongoing operations.

Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are included in the Appendix.

Special Note on Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties. Any statements contained in this press release that are not statements of historical facts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as: “accelerate,” “anticipate, “believe,” “can,” “continue,” “could,” “demand,” “estimate,” “expand,” “expect,” “intend,” “may,” “might,” “objective,” “ongoing,” “outlook,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. These forward-looking statements include, but are not limited to, statements regarding: Coursera’s growing prominence as a global destination for learners seeking job-relevant skills and the platform through which institutions are driving collaboration; broadening access to higher education and creating a new and inclusive learning model; the demand for online learning; anticipated features and benefits of our customer and partner relationships and our content and platform offerings; the anticipated utility of non-GAAP financial measures; anticipated growth rates; and our financial outlook, future financial performance, and expectations, among others. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause our genuine results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the following: our ability to manage our growth; our limited operating history; the nascency of online learning solutions and risks related to market adoption of online learning; our ability to maintain and expand our partnerships with our university and industry partners and to create opportunities with new partners; our dependence on our partners for content available on our platform; our ability to attract and retain learners; our ability to increase sales of our Enterprise offering; our ability to compete effectively; the COVID-19 pandemic’s impact on our business and our industry; regulatory matters impacting us or our partners; risks related to intellectual property; cybersecurity and privacy risks and regulations; potential disruptions to our platform; risks related to international operations, including regulatory, economic, and geopolitical conditions, and our status as a B Corp, as well as the risks and uncertainties discussed in our most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings and as detailed from time to time in our SEC filings. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot ensure that the future results, levels of activity, performance, or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Such forward-looking statements relate only to events as of the date of this press release. We undertake no obligation to update any forward-looking statements except to the extent required by law.

Coursera Inc.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(In thousands, except shares and per share data)

 

Three Months Ended June 30,

Six Months Ended June 30,

2022

2021

2022

2021

Revenue

$

124,754

$

102,089

$

245,187

$

190,451

Cost of revenue (1)

46,348

41,162

89,151

79,987

Gross profit

78,406

60,927

156,036

110,464

Operating expenses:

Research and development (1)

44,929

41,004

82,884

63,144

Sales and marketing (1)

55,586

43,862

107,253

76,475

General and administrative (1)

25,726

21,846

50,904

34,991

Total operating expenses

126,241

106,712

241,041

174,610

Loss from operations

(47,835)

(45,785)

(85,005)

(64,146)

Interest income

837

85

1,172

165

Other (expense) income, net

(1,173)

42

(1,598)

35

Loss before income taxes

(48,171)

(45,658)

(85,431)

(63,946)

Income tax expense

1,163

705

2,171

1,080

Net loss

$

(49,334)

$

(46,363)

$

(87,602)

$

(65,026)

Net loss per share—basic and diluted

$

(0.34)

$

(0.35)

$

(0.61)

$

(0.75)

Weighted-average shares used in computing net loss per share—basic and diluted

144,782,220

131,804,121

143,909,469

86,761,169

 

(1) Includes stock-based compensation expense as follows:

 

Three Months Ended June 30,

Six Months Ended June 30,

2022

2021

2022

2021

Cost of revenue

$

812

$

903

$

1,389

$

1,010

Research and development

12,619

18,363

22,362

20,391

Sales and marketing

8,048

11,310

14,322

12,658

General and administrative

6,026

8,599

11,410

10,400

Total stock-based compensation expense

$

27,505

$

39,175

$

49,483

$

44,459

Coursera Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands)

 

June 30, 2022

December 31, 2021

Assets

Current assets:

Cash and cash equivalents

$

380,005

$

580,658

Marketable securities

403,140

241,117

Accounts receivable, net

57,418

34,396

Deferred costs, net

22,496

19,666

Prepaid expenses and other current assets

20,494

16,494

Total current assets

883,553

892,331

Property, equipment and software, net

27,862

24,725

Operating lease right-of-use assets

11,510

16,321

Intangible assets, net

9,165

10,091

Restricted cash

2,061

2,061

Other assets

18,239

13,381

Total assets

$

952,390

$

958,910

 

Liabilities and Stockholders’ Equity

Current liabilities:

Educator partners payable

$

55,323

$

49,206

Other accounts payable and accrued expenses

20,876

23,257

Accrued compensation and benefits

16,519

18,353

Operating lease liabilities, current

8,043

8,031

Deferred revenue, current

115,581

94,637

Other current liabilities

7,968

7,639

Total current liabilities

224,310

201,123

Operating lease liabilities, non-current

8,715

11,864

Deferred revenue, non-current

2,665

3,851

Other liabilities

913

559

Total liabilities

236,603

217,397

Stockholders’ equity:

Common stock

1

1

Additional paid-in capital

1,299,173

1,235,231

Treasury stock, at cost

(4,701)

(4,701)

Accumulated other comprehensive loss

(2,318)

(252)

Accumulated deficit

(576,368)

(488,766)

Total stockholders’ equity

715,787

741,513

Total liabilities and stockholders’ equity

$

952,390

$

958,910

Coursera Inc.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(In thousands)

 

Six Months Ended June 30,

2022

2021

Cash flows from operating activities:

Net loss

$

(87,602)

$

(65,026)

Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization

8,621

6,371

Stock-based compensation expense

49,483

44,459

Amortization of marketable securities, net

1,020

319

Impairment of long-lived assets

5,095

Other

493

105

Changes in operating assets and liabilities:
Accounts receivable, net

(23,428)

(11,141)

Prepaid expenses and other assets

(13,522)

(4,124)

Operating lease right-of-use assets

2,507

2,716

Accounts payable and accrued expenses

4,462

(5,274)

Accrued compensation and other liabilities

(1,151)

4,347

Operating lease liabilities

(3,136)

(3,191)

Deferred revenue

19,758

20,639

Net cash used in operating activities

(37,400)

(9,800)

Cash flows from investing activities:

Purchases of marketable securities

(180,552)

Proceeds from maturities of marketable securities

15,000

153,981

Purchases of property, equipment and software

(717)

(739)

Capitalized internal-use software costs

(7,266)

(6,598)

Purchases of content assets

(954)

(531)

Net cash (used in) provided by investing activities

(174,489)

146,113

Cash flows from financing activities:

Proceeds from exercise of stock options

11,787

14,284

Proceeds from employee stock purchase plan

4,596

Proceeds from initial public offering, net of offering costs

525,284

Payment of deferred offering costs

(295)

(6,110)

Payment of tax withholding on vesting of restricted stock units

(4,852)

Net cash provided by financing activities

11,236

533,458

Net (decrease) increase in cash, cash equivalents, and restricted cash

(200,653)

669,771

Cash, cash equivalents, and restricted cash —Beginning of period

582,719

82,426

Cash, cash equivalents, and restricted cash —End of period

$

382,066

$

752,197

Reconciliation of cash, cash equivalents and restricted cash:

Cash and cash equivalents

$

380,005

$

749,649

Restricted cash

2,061

2,548

Total cash, cash equivalents, and restricted cash

$

382,066

$

752,197

Coursera Inc.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (Unaudited)

(In thousands)

 

Three Months Ended June 30,

Six Months Ended June 30,

2022

2021

2022

2021

Net loss

$

(49,334)

$

(46,363)

$

(87,602)

$

(65,026)

Depreciation and amortization

4,439

3,440

8,621

6,371

Interest income, net

(837)

(85)

(1,172)

(165)

Other expense (income), net

1,173

(42)

1,598

(35)

Stock-based compensation expense

27,505

39,175

49,483

44,459

Income tax expense

1,163

705

2,171

1,080

Payroll tax expense related to stock-based activities

268

256

733

284

Adjusted EBITDA

$

(15,623)

$

(2,914)

$

(26,168)

$

(13,032)

Net loss margin

(40)%

(45)%

(36)%

(34)%

Adjusted EBITDA margin

(13)%

(3)%

(11)%

(7)%

Three Months Ended June 30,

Six Months Ended June 30,

2022

2021

2022

2021

Net cash provided by (used in) operating activities

$

857

$

(5,453)

$

(37,400)

$

(9,800)

Less: purchases of property, equipment and software

(317)

(432)

(717)

(739)

Less: capitalized internal-use software costs

(3,722)

(2,613)

(7,266)

(6,598)

Free Cash Flow

$

(3,182)

$

(8,498)

$

(45,383)

$

(17,137)

Three Months Ended June 30,

Six Months Ended June 30,

2022

2021

2022

2021

Gross profit

$

78,406

$

60,927

$

156,036

$

110,464

Stock-based compensation expense

812

903

1,389

1,010

Payroll tax expense related to stock-based activities

3

15

13

16

Non-GAAP gross profit

$

79,221

$

61,845

$

157,438

$

111,490

 

Net loss

$

(49,334)

$

(46,363)

$

(87,602)

$

(65,026)

Stock-based compensation expense

27,505

39,175

49,483

44,459

Payroll tax expense related to stock-based activities

268

256

733

284

Non-GAAP net loss

$

(21,561)

$

(6,932)

$

(37,386)

$

(20,283)

Source Code: COUR-IR

View source version on businesswire.com:https://www.businesswire.com/news/home/20220727005680/en/

For investors: Cam Carey,ir@coursera.orgFor media: Anne Espiritu,press@coursera.org

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: SOFTWARE INTERNET OTHER EDUCATION CONTINUING TECHNOLOGY UNIVERSITY EDUCATION TRAINING

SOURCE: Coursera

Copyright Business Wire 2022.

PUB: 07/27/2022 04:10 PM/DISC: 07/27/2022 04:12 PM

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Killexams : REAL VISION DISRUPTS ONLINE FINANCIAL EDUCATION WITH TODAY'S LAUNCH OF THE REAL INVESTING COURSE

The MarketWatch News Department was not involved in the creation of this content.

REAL VISION DISRUPTS ONLINE FINANCIAL EDUCATION WITH TODAY'S LAUNCH OF THE REAL INVESTING COURSE

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The comprehensive 5-module Real Investing Course includes video lessons, handbooks, community access, and one full year of Real Vision Plus membership.

And thanks to Real Vision's 8-year history of interviewing finance rock stars, The Real Investing Course is unique in featuring dozens of professional investors including Lyn Alden, Peter Brandt, and Dmitry Balyasny as your guides.

"This is a game-changer," said Real Vision CEO Raoul Pal. "It's a masterclass in the building blocks of investing, and it doesn't cost thousands of dollars. I truly believe we can help people at scale like this."

That's already happening, as feedback from the beta testing group shows:

"I was relying on input from others before because I didn't think I was capable of making my own decisions but after this I'll be taking charge of my own trades." - Paul W.

"Yes, yes and did I say YES." - Donald B.

And parts of the course were filmed in an underground bunker, a cinema, and a bar - making it perhaps the most entertaining investing course in the world...

Low-cost and accessible, The Real Investing Course is just the latest step in the future of learning at Real Vision - The Real Vision Academy.

Also launching today, The Academy's roadmap features a series of courses from professional investors focusing on different types of frameworks, trading strategies and styles... and creating places and moments for the community to come together to help each other, too.

To find out more about The Real Investing Course and The Academy, visit realvision.com/rvacademy

About Real Vision:

Real Vision is a disruptive global financial media platform and online community, best known for its Real Vision membership and Real Vision Crypto -- a free digital assets video channel. Real Vision doesn't have a single editorial view. We bring on the most diverse set of minds on all Topics filtered through the lens of markets. The company's mission is to democratize access to financial intelligence and to help members understand the complex world of finance, business, and the global economy. Founded in 2014, the platform now has more than 300,000 members in over 100 countries around the world.

View original content to get multimedia:https://www.prnewswire.com/news-releases/real-vision-disrupts-online-financial-education-with-todays-launch-of-the-real-investing-course-301594447.html

SOURCE Real Vision

COMTEX_411078533/2454/2022-07-27T10:33:33

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Wed, 27 Jul 2022 02:33:00 -0500 en-US text/html https://www.marketwatch.com/press-release/real-vision-disrupts-online-financial-education-with-todays-launch-of-the-real-investing-course-2022-07-27
Killexams : Masdar achieves financial close on 230MW Solar plant in Azerbaijan No result found, try new keyword!Plant is the Republic of Azerbaijan's first foreign investment-based independent solar power project, and Masdar's first project in the nation; Masdar signed implementation agreements with ... Tue, 02 Aug 2022 09:40:00 -0500 en text/html https://energycentral.com/news/masdar-achieves-financial-close-230mw-solar-plant-azerbaijan Killexams : NAH Announces Desert Financial as Inaugural Scholarship, Awards Sponsor

The endowment will distribute a minimum of two $1,500 scholarships every year in perpetuity.

Northern Arizona Healthcare (NAH) has announced Desert Financial Credit Union as its title sponsor for the inaugural Northern Arizona Healthcare Scholarship and Awards Celebration. As the title sponsor, Desert Financial committed to funding $93,000 in endowment and expendable scholarships for which any employee of NAH may apply. The recipients for this inaugural year will be announced at a celebration on Aug. 18.

“We are honored to continue our partnership with Desert Financial Credit Union,” said Maraka Oltrogge, NAH vice president of philanthropy. “Our entire scholarship and awards program is based on the outpouring of support from community members and internal leaders who see the value in lifting up NAH employees and giving them every opportunity to strengthen their skills.”

The endowment will distribute a minimum of two $1,500 scholarships every year in perpetuity. Desert Financial Credit Union’s contribution supports NAH’s commitment to creating learning and professional development opportunities for colleagues so they can continue to provide the highest level of care to our patients and community.

“It is a privilege to partner with NAH by supporting the current and future health care workers who dedicate their lives to helping the community,” said Desert Financial Credit Union President and CEO Jeff Meshey. “Our organization knows how important it is to recruit and retain health care workers in our community and we are pleased that we can celebrate them at this year’s inaugural celebration.”

Desert Financial Credit Union presents NAH a $25,000 check to go toward the $93,000 endowment for scholarships for current and future NAH employees.

In addition to Desert Financial Credit Union, Swire Coca-Cola USA, Flagstaff AZ, contributed to the awards celebration and scholarship fund. At the Aug. 18 event, nine other scholarships and awards will be presented, including the Andrew Gregory Spyrow Health Care Scholarship, Dean Taylor Health Care Award, Findlay Toyota Health Care Award, Marjorie and Samuel McClanahan Nursing Scholarship, Simon Memorial Scholarship, The Loven Family Health Care Scholarship, Hunt Family Scholarship, Paul Weston First Responder Scholarship, and the Dr. Deborah Lindquist Nurse Chemotherapy Award.

NAH has received an overwhelming number of applicants in this first year. If an individual or organization would like to learn more about how they can create a scholarship or award to support health care workers in the community, please contact Maraka Oltrogge at maraka.oltrogge@nahealth.com or 928-773-2275. FBN

About Northern Arizona Healthcare: A non-profit health care system, NAH is inclusive of Flagstaff Medical Center, Verde Valley Medical Center, Verde Valley Medical Center – Sedona Campus, Northern Arizona Healthcare – Camp Verde Campus, Northern Arizona Healthcare – Village of Oak Creek, Northern Arizona Healthcare Medical Group, the Cancer Centers of Northern Arizona Healthcare, Northern Arizona Healthcare Orthopedic Surgery Center, EntireCare Rehab & Sports Medicine, Weight Management Clinic, Northern Arizona Healthcare Medical Group – Cardiology, Guardian Air and Guardian Medical Transport. We also provide comprehensive imaging, laboratory and pharmacy services throughout the region.

For more information on NAH programs and services, visit NAHealth.com. “Like” NAH on Facebook by searching for Northern Arizona Healthcare Flagstaff and Northern Arizona Healthcare Verde Valley. Follow NAH on Instagram by searching for Northern Arizona Healthcare.

About Desert Financial Credit Union: Celebrating more than 80 years in Arizona, Desert Financial is the state’s most trusted local credit union with over $8 billion in assets, 400,000+ members and 47 branches. Membership eligibility is open across most of Arizona with contactless solutions via eBranch, making it easy to click, call or come in. As a not-for-profit cooperative, Desert Financial takes pride in sharing success. In 2021, members received $15 million in dividends via the Member Giveback Bonus, and Desert Financial gave more than $3.8 million in donations, scholarships and Random Acts of Kindness to our members, community and team. Learn more at desertfinancial.com.

Tue, 02 Aug 2022 15:30:00 -0500 FBN en-US text/html https://www.flagstaffbusinessnews.com/nah-announces-desert-financial-as-inaugural-scholarship-awards-sponsor/
Killexams : Thinkific Announces Second Quarter 2022 Financial Results and Provides Outlook for the Third Quarter

The MarketWatch News Department was not involved in the creation of this content.

VANCOUVER, BC, Aug. 4, 2022 (Canada NewsWire via COMTEX) -- Second quarter revenue up 38% to $12.6 million on strong ARPU growth; Adjusted EBITDA loss improves to $7.0 million

Thinkific reports in U.S. dollars and in accordance with IFRS

Thinkific Labs Inc. ("Thinkific" or the "Company") (TSX: THNC), a leading cloud-based software platform that enables entrepreneurs and established businesses of all sizes to create, market, and sell online learning products, today announced its financial results for the quarter ended June 30, 2022.

"We continued to execute against our product-led growth strategy, and our results were consistent with our expectations. ARPU continues to drive revenue growth, increasing 18% to $126 per month versus a year ago," said Greg Smith, Co-Founder and CEO of Thinkific. "There is a large and growing market opportunity in front of us," continued Mr. Smith. "I am confident that our product roadmap, disciplined investments, and appropriate cost structure will both enable our growth strategy and ensure our return to profitability.

"Of course, our financial and operational performance are the result of the success of our Creators. We continue to be fanatical about supporting their success. We believe the strength of our current suite of products, as well as our product pipeline, will enable the success of our Creators. Most recently, this includes tools that help our Creators "Sell More", so they can more effectively scale and monetize their passion," concluded Mr. Smith.

    --  Revenue increased 38% to $12.6 million compared with the second
        quarter of 2021, driven by year-over-year growth in total
        Paying Customers and increasing ARPU((1)).

    --  Gross margin was 76%, in line with second quarter of 2021,
        driven by efficiencies within the Customer Support team, which
        were partially offset by lower margins on Thinkific Payments
        revenue.

    --  Net loss for the second quarter of 2022 was $10.1 million,
        compared to a net loss of $5.3 million in the second quarter of
        2021.

    --  Adjusted EBITDA((2)) loss of $7.0 million was driven primarily
        by continued investments in Sales & Marketing (S&M), and
        Research & Development (R&D). While Adjusted EBITDA loss
        increased relative to the same period last year, it decreased
        on a sequential basis as a result of our restructuring,
        completed at the end of the first quarter of 2022.

    --  Total Paying Customers((1)) grew 14% to 33.3 thousand in the
        second quarter of 2022, consistent with the first quarter of
        2022, and our expectations.

    --  ARPU((1)) increased 18%, to $126 per month compared with $107
        in the second quarter of 2021, primarily driven by customer
        upgrades, new Thinkific Plus customers, increasing adoption of
        Thinkific Payments, as well as changes to our pricing strategy.

    --  ARR((1) )exceeded the $50.0 million mark, up 32% to $50.3
        million from $38.1 million in the second quarter of 2021, as we
        continued to attract new Creators to our Platform, and existing
        Creators upgraded to higher-tier plans. ARR also benefited from
        pricing changes introduced in the second quarter of 2022.

    --  Thinkific Payments continued to be well received by Creators.
        Gross Payments Volume((1) )("GPV"), which is the total value of
        GMV((1) )processed using Thinkific Payments, for the second
        quarter, was $14.3 million. This represented 15% of the $97.9
        million in GMV processed during the second quarter of 2022.

    --  Continued to demonstrate financial strength, with a strong
        balance sheet. Cash and cash equivalents were $105.3 million at
        the end of the second quarter of 2022.


"Our Adjusted EBITDA loss this quarter of $7.0 million was a significant improvement from latest trends," commented Corinne Hua, CFO of Thinkific. "As we continue to grow the top-line, we will be disciplined on our spend, and focus our investments in a prudent manner. The tough decision we took earlier this year to reduce our team was the right one, and we are seeing the results of our improved cost structure."




     (1) Key Performance Indicators. See definition in "Key Performance Indicators".



     (2) Non-IFRS measure. See "Non-IFRS Measures" and the reconciliation to the most directly comparable IFRS measure.


    --  Introduced TCommerce, building on our passion for helping
        Creators sell their learning products. TCommerce brings
        together Thinkific's selling tools and business management
        functions under one brand, powered by Thinkific Payments. These
        features help Creators build robust business models through
        product enhancements that include:

  o Sustainable income opportunities with improved subscription selling
    tools including the capabilities to configure, upsell, pause,
    resume and manage subscriptions.

  o Improved coupon redemption, new reporting features, and 3D Secure
    Strong Authentication.

  o Flexible payment methods including the introduction of Apple Pay
    and Google Pay to provide customers with easier and faster
    checkout.

    --  Delivered on our product-led growth strategy with the
        introduction of new features that are focused on making it
        easier for Creators to launch a learning business. This
        includes our new Creator welcome flow and automated app
        recommendations that surface the right solutions for our
        Creators as they launch and scale their business.

    --  Improved our value-based approach to pricing, simplifying our
        pricing and packaging strategy, and improving visibility for
        Thinkific Creators of their monthly fees.

    --  Released first-of-its-kind online learning 'Trends Report'
        revealing key trends in the knowledge economy from top
        Creators. The report highlighted that online content creation
        is the most popular type of business entrepreneurs aspire to
        launch.


    --  Introduced Bulk Selling features to our Plus customers. The
        Bulk Selling feature is a game changer for Creators focused on
        B2B sales, empowering them to sell and manage volume licenses
        for their learning products.

    --  The fourth annual 'Think in Color' Summit, was held on July 27,
        2022. The virtual summit which unites powerful, yet
        underrepresented, communities in the Creator Economy, attracted
        thousands of entrepreneurs and SMB participants. A speaker
        lineup of 100% women of color delivered personal insights on
        all aspects of creating, marketing, and scaling online courses
        and digital product-based businesses.


    --  Announced changes to the Board of Directors. Melanie Kalemba
        joined the Board, effective June 8, 2022, while Board Member
        Lisa Shields resigned effective August 4, 2022. Ms. Kalemba
        brings extensive experience focused on business development,
        sales and operations across a variety of high-tech and
        e-commerce companies to the Board of Directors. Ms. Shields was
        a guiding force during the IPO process and provided expertise
        during the release and launch of Thinkific Payments.


Thinkific is at the centre of the knowledge economy, and gives businesses everything they need to build, market, and sell online courses and other learning products, and to run their business seamlessly under their own brand, on their own site.

Thinkific expects continued growth in revenue in the third quarter of 2022, driven largely by ARPU expansion, as well as new Paying Customers. Customer upgrades to higher priced plans, new Thinkific Plus customers, higher penetration of Thinkific Payments, and our revised pricing strategies all contribute to ARPU growth.

Our expectations for the third quarter of 2022 are:

    --  revenue of $13.1 - $13.3 million, representing year-over-year
        growth of 32% - 34%
    --  adjusted EBITDA loss in the range of $6.4 million to $7.0
        million.


Actual results may differ materially from Thinkific's financial outlook as a result of, among other things, the factors described under "Forward-Looking Statements" below.

A conference call will be held at 2:30 PM PT (5:30 PM ET) on August 4, 2022 to discuss Thinkific's second quarter financial and operational results. To participate in the call, please dial 1.888.664.6383 (US/Canada toll-free) or 1.416.764.8650 (International/Toronto). For those unable to participate, a replay will be available commencing at 4:30 PM PT (7:30 PM ET) on August 4, 2022 by dialing 1.888.390.0541 (US/Canada toll-free) or 1.416.764.8677 (International/Toronto). The passcode is 593677#. The replay will expire at 8:59 pm PT (11:59 pm ET) on August 11, 2022. The conference call will also be available via webcast on the Investor Relations section of Thinkific's website at investors.thinkific.com/events-and-presentations.

Thinkific's unaudited interim consolidated financial statements and accompanying notes, and Management's Discussion and Analysis for the three months ended June 30, 2022 are available on the Company's website at www.thinkific.com and on SEDAR at www.sedar.com.

Thinkific (TSX:THNC) makes it simple for entrepreneurs and established businesses of any size to scale and generate revenue by teaching what they know. Our Platform gives businesses everything they need to build, market, and sell online courses and other learning products, and to run their business seamlessly under their own brand, on their own site. Thinkific's 50,000+ active creators earn hundreds of millions of dollars in direct course sales while teaching tens of millions of students. Thinkific is headquartered in Vancouver, Canada, with a distributed team.

For more information, please visit www.thinkific.com.

The information presented within this press release includes "Adjusted EBITDA" and certain industry metrics. The "Adjusted EBITDA" is not a recognized measure under International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board, does not have a standardized meaning prescribed by IFRS, and is therefore unlikely to be comparable to similar measures presented by other companies. Rather, this measure is provided as additional information to complement those IFRS measures by providing further understanding of our results of operations from management's perspective. Accordingly, it should not be considered in isolation nor as a substitute for analysis of our financial information reported under IFRS. We also use certain industry metrics: "Annual Recurring Revenue", "Paying Customers", "Average Revenue per User", "Gross Merchandise Volume" and "Gross Payments Volume". These industry metrics are unaudited and are not directly derived from our financial statements. The non-IFRS measure and industry metrics are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use non-IFRS measures and industry metrics in the evaluation of issuers. Our management also uses the non-IFRS measure and industry metrics in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation.

"Adjusted EBITDA" is defined as net income (loss) excluding taxes, interest, depreciation and amortization (or EBITDA), as adjusted for stock-based compensation, foreign exchange loss (gain), net finance (income) expense, restructuring costs and transaction-related costs. Adjusted EBITDA does not have a standardized meaning under IFRS and is not a measure of operating income, operating performance or liquidity presented in accordance with IFRS, and is subject to important limitations.

Please refer to "Reconciliation to IFRS from Non-IFRS measures" in this press release for more information.

We monitor the following industry metrics to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions: "Annual Recurring Revenue" or "ARR", "Average Revenue per User" or "ARPU", "Gross Merchandise Volume" or "GMV", "Paying Customers" and "Gross Payments Volume" or "GPV". Our key performance indicators may be calculated in a manner different than similar key performance indicators used by other companies.

"Paying Customers" is the count of unique Thinkific subscribers on paid plans as of period end, excluding all trial and free customers, and including both monthly and annual subscribers.

"ARPU" is the average monthly Revenue per Paying Customer in the quarter. ARPU is calculated by taking the average Revenue for each month in the quarter and dividing this by the average number of Paying Customers for the same quarter.

"ARR" is the annual value of all current Paying Customer subscriptions at the end of the period, with the number of Paying Customers multiplied by 12 times the average monthly subscription plan fee in effect on the last day of that period.

"GMV" is the total dollar value of all transactions of course sales, membership subscriptions, or other products or services by our Creators, facilitated through our platform during the period, net of refunds. GMV does not include transactions for course sales, membership subscriptions, or other products or services processed by APIs or certain apps where the Company does not record the transaction value.

"GPV" is the total dollar value of GMV processed through Thinkific Payments.

This press release includes forward-looking statements and forward-looking information within the meaning of applicable securities laws in Canada. Forward-looking statements and information may relate to our future financial outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategies, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "trends", "directional indicator", "indicator", "future success", "expects", "is expected", "opportunity", "budget", "scheduled", "estimates", "outlook", "forecasts", "projection", "scalability", "trajectory", "prospects", "strategy", "intends", "anticipates", "adoption", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or, "will", "occur" or "be achieved", and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. Forward-looking statements in this press release include, but are not limited to statements regarding our financial position, managements ability to effectively invest, increase business efficiencies necessary to build and maintain a sustainable cost structure; business strategy, budgets, operations, investments, financial results, plans and objectives including potential path to profitability, industry trends; growth in our industry; our growth rates and growth strategies; addressable markets for our solutions; expected effectiveness to our business resulting from changes to pricing tiers; advances in and expansion of our offered platform service; the development, success and effectiveness of new products, features, and services such as TCommerce, Bulk Sell App and automated App recommendations; effectiveness of our marketing efforts including the 'Think In Color' Summit; expectations regarding our revenue and the revenue generation potential of our platform and other products, including Thinkific Payments and Thinkific App Store; revenue; Adjusted EBITDA; and Thinkific's commitment towards strong corporate governance, the expected benefits from the collective experience of the company's board directors, their experience and skill set as a member of the board of directors and the expected benefits that board directors may bring to position the company for greater success and value creation in the future.

Forward-looking statements and information are based on our opinions, estimates and assumptions that, while considered by the Company to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, and other factors that may cause the genuine results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the Company's ability to execute on its growth strategies; the impact of changing conditions in the global e-learning market in which the Company operates; fluctuations in currency exchange rates and volatility in financial markets; changes in attitudes, financial condition and demand of our target market; developments and changes in applicable laws and regulations; and such other factors discussed in greater detail under the "Risk Factors" section of our Annual Information Form ("AIF").

Forward-looking statements and information are necessarily based upon estimates and assumptions, which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control and many of which, regarding future business decisions, are subject to change. Assumptions or factors underlying the Company's expectations regarding forward-looking statements or information contained in this press release include, among others: our ability to continue investing in infrastructure to support our growth and brand recognition; our ability to continue maintaining, innovating, improving and enhancing our technological infrastructure and functionality, performance, reliability, design, security and scalability of our Platform (as defined in our AIF); our ability to maintain existing relationships with Creators (as defined in our AIF) and to continue to expand our Creators' use of our platform; our ability to acquire new Creators; our ability to maintain existing material relationships on similar terms with service providers, suppliers, partners and other third parties; our ability to build our market share and enter new markets and industry verticals; the continued development, rollout, integration and success of new products, features, and services, including TCommerce, Thinkific Payments and Thinkific App Store; our ability to retain key personnel; our ability to maintain and expand geographic scope; our ability to execute on our expansion and growth plans; our ability to obtain and maintain existing financing on acceptable terms; currency exchange and interest rates; the impact of competition; the changes and trends in our industry or the global economy; and the changes in laws, rules, regulations, and global standards. The foregoing list of assumptions cannot be considered exhaustive.

If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, genuine results or future events might vary materially from those anticipated in the forward-looking information provided herein. The opinions, estimates or assumptions referred to above and described in greater detail in "Summary of Factors Affecting our Performance" and in the "Risk Factors" section of our 2021 Annual Information Form, which are available under our profile on SEDAR at www.sedar.com, should be considered carefully by prospective investors. Although we have attempted to identify important risk factors that could cause genuine results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause genuine results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as genuine results and future events could differ materially from those anticipated in such information. No forward-looking statement is a ensure of future results. Accordingly, you should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this press release represents our expectations as of the date specified herein, and are subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements. Readers are cautioned that any such forward-looking information should not be used for purposes other than for which it is disclosed.

THINKIFIC LABS INC.Condensed Interim Consolidated Statements of Financial Position (unaudited)(expressed in U.S. dollars)

                                                                      June 30,     December 31,
                                                                          2022              2021




                $

                $




                Assets




                Current assets



     Cash and cash equivalents                                    105,306,892       126,054,833



     Trade and other receivables                                    2,115,542         1,392,391



     Prepaid expenses and other assets                              3,331,839         2,769,924



     Contract acquisition assets                                      256,465           159,326



     Total current assets                                         111,010,738       130,376,474





     Property and equipment                                         1,650,265           766,568



     Lease right-of-use assets                                      2,243,267           754,320



     Contract acquisition assets                                      584,496           407,659



     Intangible assets                                                107,157            98,985




                Total assets                                    115,595,923       132,404,006






                Liabilities and shareholders' equity




                Current liabilities



     Accounts payable and accrued liabilities                       4,380,581         3,286,321



     Lease liabilities                                                456,825           515,348



     Deferred revenue                                               8,203,161         6,628,749



     Total current liabilities                                     13,040,567        10,430,418





     Lease liabilities                                              1,828,610           359,917




                Total liabilities                                14,869,177        10,790,335






                Shareholders' equity



     Share capital                                                146,065,525       145,583,011



     Contributed surplus                                            5,593,820         4,865,646



     Accumulated other comprehensive loss                            (38,113)         (38,113)



     Accumulated deficit                                         (50,894,486)     (28,796,873)




                Total shareholders' equity                      100,726,746       121,613,671


                   Total liabilities and shareholders' equity      115,595,923       132,404,006




THINKIFIC LABS INC.Condensed Interim Consolidated Statements of Loss and Comprehensive Loss (unaudited)(expressed in U.S. dollars)

                                                                        Three months ended                         Six months ended

               June 30,
             June 30,


                                                               2022                      2021               2022                      2021




                $

                $

                $

                $



     Revenue                                            12,619,987                 9,127,936         24,405,119                17,431,210



     Cost of revenue                                     2,991,716                 2,147,939          6,144,356                 3,816,726




                Gross profit                           9,628,271                 6,979,997         18,260,763                13,614,484






                Operating expenses



     Sales and marketing                                 6,513,131                 4,558,608         12,703,033                 7,657,762



     Research and development                            7,128,260                 4,565,565         15,077,959                 7,100,922



     General and administrative                          3,942,481                 3,160,433          9,100,319                 5,138,604



     Restructuring                                                                                  2,287,885



     Total operating expenses                           17,583,872                12,284,606         39,169,196                19,897,288






                Operating loss                       (7,955,601)              (5,304,609)      (20,908,433)              (6,282,804)






                Other income (expenses)



     Foreign exchange gain (loss)                      (2,408,017)                 (58,958)       (1,516,058)                 (56,011)



     Finance income (expense)                              252,914                    50,300            326,878                    39,895



     Total other income (expenses)                     (2,155,103)                  (8,658)       (1,189,180)                 (16,116)




                Net loss and comprehensive loss


                                                       (10,110,704)              (5,313,267)      (22,097,613)              (6,298,920)




                Loss per share



     Basic and diluted                                     $(0.13)                  $(0.11)           $(0.28)                  $(0.14)


THINKIFIC LABS INC.Condensed Interim Consolidated Statements of Cash Flows (unaudited)(expressed in U.S. dollars)

                                                                                 Six months ended
                                                                                         June 30,


                                                                          2022                  2021




                $

                $




                Cash from (used in):




                Operating activities



     Net loss                                                    (22,097,613)          (6,298,920)



     Items not affecting cash and cash equivalents:



     Depreciation and amortization                                    551,166               284,317



     Stock-based compensation                                       1,166,701             1,405,659



     Unrealized foreign exchange loss                               1,553,736                81,958



     Finance expense                                                   42,926                20,738





     Changes in non-cash working capital:



     Trade and other receivables                                    (723,151)            (124,689)



     Prepaid expenses and other assets                              (577,708)          (1,762,435)



     Investment tax credits, net                                                         (242,311)



     Contract acquisition assets                                    (372,499)            (293,796)



     Accounts payable and accrued liabilities                         926,289                85,388



     Deferred revenue                                               1,574,412               954,280




                Cash used in operating activities              (17,955,741)          (5,889,811)






                Investing activities



     Investment in property and equipment                         (1,110,398)             (41,283)



     Investment in intangible assets                                 (11,986)            (104,660)




                Cash used in investing activities               (1,122,384)            (145,943)






                Financing activities



     Proceeds from issuance of shares upon IPO                                         148,616,696



     Share issuance costs                                                              (9,829,901)



     Operating lease payments                                       (266,017)            (265,362)



     Exercise of stock options                                        240,332                 7,599




                Cash used in financing activities                  (25,685)          138,529,032





     Effect of foreign exchange on cash and cash equivalents      (1,644,131)             (31,970)



     Decrease in cash and cash equivalents                       (20,747,941)          132,461,308



     Cash and cash equivalents, beginning of period               126,054,833             9,066,016




                Cash and cash equivalents, end of period        105,306,892           141,527,324


Reconciliation from IFRS to Non-IFRS Measures (unaudited)(expressed in thousands of U.S. dollars)

                                                     Three months ended                     Six months ended
                                                               June 30,                             June 30,



                                              2022                    2021           2022                      2021



            $

                $

            $

                $



     Net loss and comprehensive loss     (10,111)                (5,313)      (22,098)                  (6,299)



     Stock-based compensation                 645                   1,146          1,167                     1,406



     Depreciation and amortization            277                     144            551                       284



     Foreign exchange (gain) loss           2,408                      59          1,516                        56



     Finance (income) expense               (253)                   (50)         (327)                     (40)



     Restructuring costs (1)                                                     2,875



     Transaction-related costs (2)                                    21                                     115




                Adjusted EBITDA         (7,034)                (3,994)      (16,316)                  (4,478)



     (1) Represents restructuring costs in the first quarter of 2022, primarily relating to employee compensation.



     (2) Represents costs related to our IPO, and consists of professional, legal, consulting, and accounting fees that are non-recurring, would otherwise not have been incurred, and are not indicative of continuing operations.


View original content:https://www.prnewswire.com/news-releases/thinkific-announces-second-quarter-2022-financial-results-and-provides-outlook-for-the-third-quarter-301600322.html

SOURCE Thinkific Labs Inc.

View original content: http://www.newswire.ca/en/releases/archive/August2022/04/c5277.html

SOURCE: Thinkific Labs Inc.

Media: Josh Stanbury press@thinkific.com; IR: Janet Craig IR@thinkific.com

COMTEX_411611305/2197/2022-08-04T16:30:00

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Thu, 04 Aug 2022 08:30:00 -0500 en-US text/html https://www.marketwatch.com/press-release/thinkific-announces-second-quarter-2022-financial-results-and-provides-outlook-for-the-third-quarter-2022-08-04-16202300
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