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D2L Inc. (DTOL.TO)
Kitchener, ON, CA
D2L Inc. provides cloud-based learning software for higher education institutions, kindergarten to grade 12 schools and districts, and private sector enterprises in Canada, the United States, and internationally. The company provides personalized, flexible and modern learning experiences for people of all ages. It offers core cloud-based learning innovation platform, Brightspace, serves three distinct markets, such as kindergarten to grade 12 schools (K-12), higher education, and corporate markets. In addition, the company provides performance+, advanced analytics package, achievement+, and creator+ easy-to-use authoring tools; performance+ advanced analytics package, achievement+, which streamlines achievement reporting on learning outcomes reporting; and Course Merchant, a digital storefront that enables institutions to sell courses directly to learners. Further, it offers Lumi, a human-centered artificial intelligence; and D2L Link that enables seamless connections and streamlined automations with student information systems, customer information management systems, human resource systems and other systems. It sells its platform primarily through direct sales in North America, Europe, and Australia, as well as through direct and indirect channel partners. The company was founded in 1999 and is headquartered in Kitchener, Canada.
No mergers or acquisitions recorded for this company.
| Indicator | 1D | 1W | 2W | 3W | 1M |
|---|
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
| 1D | 5D | 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Max |
|---|---|---|---|---|---|---|---|---|---|---|
| +10.69% | +6.51% | +6.62% | +9.61% | -38.41% | -24.87% | -22.99% | +19.55% | -39.40% | -39.40% | -39.40% |
Revenue flow
Revenue by geography
Revenue by segment
Revenue composition
By product
By geography
Income Statement
Balance Sheet
Cash Flow Statement
Key Metrics
Financial Ratios
Employees
Financial Growth (CAGR)
Market Data
DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.
| Rating | 2026-05 | Change |
|---|---|---|
| Strong Buy | 4 | +1 |
| Buy | 2 | -1 |
| Hold | 2 | 0 |
| Sell | 0 | 0 |
| Strong Sell | 0 | 0 |
-
Revenue growth Software - Application: +13.0%+8.0% Q2'26: +8.1% (vs Q2'25)
-
EPS growth Software - Application: +28.6%-65.2% Q2'26: -50.0% (vs Q2'25)
-
FCF margin FCF growth · Software - Application: +45.3%+11.6% Q2'26: -29.5% (vs Q2'25)
-
EBIT margin Software - Application: +9.4%+6.2% Q2'26: +6.8% (vs Q2'25)
-
ROIC Software - Application: +7.5%— Q2'26: +678.1% (vs Q2'25)
-
Share dilution Software - Application: +0.0%+0.5% Q2'26: +0.6% (vs Q2'25)
-
Debt / EBITDA Net debt/EBITDA · Software - Application: -1.16×0.61× ★ Q2'26: 0.54× (vs Q2'25)
* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.
| Metric |
Jan 2022 actual |
Jan 2023 actual |
Jan 2024 actual |
Jan 2025 actual |
Jan 2026 6 Rev. Ana. 3 EPS Ana. |
Jan 2027 8 Rev. Ana. 4 EPS Ana. |
Jan 2028 8 Rev. Ana. 4 EPS Ana. |
|---|---|---|---|---|---|---|---|
| Revenue |
151.88M
est: 192.55M (-21.1%)
|
168.40M
est: 224.95M (-25.1%)
|
182.38M
est: 137.89M (+32.3%)
|
205.28M
est: 201.82M (+1.7%)
|
217.09M
216.78M – 217.37M
+7.6% YoY
|
238.99M
237.94M – 240.61M
+10.1% YoY
|
261.53M
258.71M – 264.15M
+9.4% YoY
|
| EBITDA |
-94.02M
est: -35.57M (-164.3%)
|
-12.98M
est: -41.56M (+68.8%)
|
295.4K
est: -14.83M (+102.0%)
|
14.57M
est: -21.70M (+167.1%)
|
-23.34M
-23.37M – -23.31M
-7.6% YoY
|
-25.70M
-25.87M – -25.59M
-10.1% YoY
|
-28.12M
-28.41M – -27.82M
-9.4% YoY
|
| EBIT |
-97.52M
est: -39.79M (-145.1%)
|
-17.23M
est: -46.49M (+62.9%)
|
-2.58M
est: -17.84M (+85.6%)
|
10.31M
est: -26.11M (+139.5%)
|
-28.08M
-28.12M – -28.04M
-7.6% YoY
|
-30.92M
-31.13M – -30.78M
-10.1% YoY
|
-33.83M
-34.17M – -33.47M
-9.4% YoY
|
| Net Income |
-97.65M
est: -149.00M (+34.5%)
|
-18.38M
est: -18.45M (+0.4%)
|
-3.54M
est: 363.3K (-1,075.1%)
|
25.72M
est: 10.06M (+155.6%)
|
13.75M
12.76M – 14.74M
+36.6% YoY
|
14.34M
13.41M – 22.99M
+4.3% YoY
|
29.08M
25.10M – 33.07M
+102.8% YoY
|
| SGA |
116.06M
est: 94.87M (+22.3%)
|
80.63M
est: 110.83M (-27.3%)
|
80.99M
est: 69.34M (+16.8%)
|
87.12M
est: 101.48M (-14.2%)
|
109.16M
109.00M – 109.30M
+7.6% YoY
|
120.17M
119.65M – 120.99M
+10.1% YoY
|
131.51M
130.09M – 132.83M
+9.4% YoY
|
| EPS |
-1.85
est: -2.67 (+30.7%)
|
-0.35
est: -0.33 (-5.6%)
|
-0.07
est: 0.01 (-1,120.9%)
|
0.47
est: 0.18 (+162.0%)
|
0.25
0.23 – 0.26
+39.1% YoY
|
0.35
0.24 – 0.41
+38.6% YoY
|
0.53
0.45 – 0.59
+52.6% YoY
|
| Date | Rating | Overall | DCF | ROE | ROA | D/E | P/E | P/B |
|---|---|---|---|---|---|---|---|---|
| 2026-06-10 | B | 3/5 | 5/5 | 3/5 | 3/5 | 3/5 | 1/5 | 1/5 |
| 2026-06-09 | B- | 3/5 | 4/5 | 3/5 | 3/5 | 3/5 | 1/5 | 1/5 |
| 2026-06-08 | B- | 3/5 | 4/5 | 3/5 | 3/5 | 3/5 | 1/5 | 1/5 |
| 2026-06-05 | B- | 3/5 | 4/5 | 3/5 | 3/5 | 3/5 | 1/5 | 1/5 |
| 2026-06-04 | B- | 3/5 | 4/5 | 3/5 | 3/5 | 3/5 | 1/5 | 1/5 |
| 2026-06-03 | B- | 3/5 | 4/5 | 3/5 | 3/5 | 3/5 | 1/5 | 1/5 |
| 2026-06-02 | B- | 3/5 | 4/5 | 3/5 | 3/5 | 3/5 | 1/5 | 1/5 |
| 2026-06-01 | B- | 3/5 | 4/5 | 3/5 | 3/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-27 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-26 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-25 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-22 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-21 | B | 3/5 | 4/5 | 4/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-20 | B | 3/5 | 4/5 | 4/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-19 | B | 3/5 | 4/5 | 4/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-15 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-14 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-13 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-12 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-11 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-08 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-07 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-06 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-05 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-04 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-05-01 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-30 | B | 3/5 | 4/5 | 3/5 | 4/5 | 3/5 | 1/5 | 1/5 |
| 2026-04-29 | B- | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 1/5 |
| 2026-04-28 | B- | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 1/5 |
| 2026-04-27 | B- | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 1/5 |
| 2026-04-24 | B- | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 1/5 |
| 2026-04-23 | B | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 2/5 |
| 2026-04-22 | B | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 2/5 |
| 2026-04-21 | B | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 2/5 |
| 2026-04-20 | B | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 2/5 |
| 2026-04-17 | B- | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 1/5 |
| 2026-04-16 | B- | 3/5 | 4/5 | 3/5 | 4/5 | 2/5 | 1/5 | 1/5 |
Owner Earnings
Ownership Overview
Ownership breakdown not available.
No beneficial ownership filings recorded.
Institutional Activity (13F)
Institutional history not available.
Top holders not available.
ETF Ownership
| # | ETF | Weight | Est. AUM exposure | TER |
|---|---|---|---|---|
| 1 | iShares S&P/TSX SmallCap Index ETF XCS.TO | 0.07% | 117.8K | 0.60% |
| 2 | Dimensional - International Small Cap ETF DFIS | 0.00% | 11.1K | 0.39% |
Insider Activity
No insider activity available.
Insider history not available.
No recent insider transactions.
Executive team
Executive compensation
Executive compensation not available.
No CEO compensation history available.
Proxy statements
No proxy statements available for this company yet.
Recent SEC filings
No SEC filings available for this company yet.
Executive team
| Name | Title | Compensation | Gender |
|---|---|---|---|
| John Baker | Founder, Chief Executive Officer, President & Chairman | 895.7K | male |
| Lee Poteck | Chief Revenue Officer | 598.5K | male |
| Josh Huff | Chief Financial Officer | 528.4K | male |
| Anna Forgione | Chief Legal Officer, Chief Privacy Officer & Corporate Secretary | 496.6K | female |
| Andrew Datars | Chief Technology Officer | 481.5K | male |
| Christian Pantel | Chief Product Officer | 477.8K | male |
| Kenneth Chapman | Senior Vice President of Strategic Alliances & Channel Sales | — | male |
| Kevin Capitani | Senior Vice President of Employee Training Sales & Strategic Initiatives | — | male |
| Matt Campbell | Senior Vice President of Cloud Platform | — | male |
| Max Staines | Senior Vice President of Enterprise Sales | — | male |
| Michael Beattie | Senior Vice President of Education Sales | — | male |
| Stewart Watts | Senior Vice President of EMEA & APAC Sales | — | male |
No data available for this company.
No Senate trading activity found for this company.
No House trading activity found for this company.
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Community Opinion for DTOL.TO
Short-term intention
Target Price Distribution
These are community opinions and do not constitute buy or sell advice to act on. The results shown are based on aggregated opinions and are not an investment recommendation, nor do they intend to influence any investment decision.
