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D2L Inc is a learning innovation company. It provides cloud-based learning software for higher education institutions, kindergarten to grade 12 (K-12) schools and districts, and private sector enterprises. The company serves K-12, higher education, associations, and the corporate sector. Its product includes D2L Brightspace and D2L Wave.
2011
1K+
LTM Revenue $292M
LTM EBITDA $40.6M
$373M
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
D2L has a last 12-month revenue of $292M and a last 12-month EBITDA of $40.6M.
In the most recent fiscal year, D2L achieved revenue of $144M and an EBITDA of $10.2M.
D2L expects next 12-month revenue of XXX and NTM EBITDA of XXX
See D2L valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $118M | $128M | XXX | XXX | XXX |
| Gross Profit | $75.4M | $85.5M | XXX | XXX | XXX |
| Gross Margin | 64% | 67% | XXX | XXX | XXX |
| EBITDA | -$9.1M | $0.2M | XXX | XXX | XXX |
| EBITDA Margin | -8% | 0% | XXX | XXX | XXX |
| Net Profit | -$12.9M | -$2.5M | XXX | XXX | XXX |
| Net Margin | -11% | -2% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, D2L's stock price is CAD 12 (or $8).
D2L has current market cap of CAD 655M (or $458M), and EV of CAD 533M (or $373M).
See D2L trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $373M | $458M | XXX | XXX | XXX | XXX | $0.42 |
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Sign UpAs of April 15, 2025, D2L has market cap of $458M and EV of $373M.
D2L's trades at 1.8x LTM EV/Revenue multiple, and 13.1x LTM EBITDA.
Analysts estimate D2L's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for D2L and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $373M | XXX | XXX | XXX |
| EV/Revenue | 2.6x | XXX | XXX | XXX |
| EV/EBITDA | 39.9x | XXX | XXX | XXX |
| P/E | 28.2x | XXX | XXX | XXX |
| P/E/Growth | 1.3x | XXX | XXX | XXX |
| EV/FCF | 20.9x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpD2L's NTM/LTM revenue growth is 6%
D2L's revenue per employee for the last fiscal year averaged $0.1M, while opex per employee averaged $0.1M for the same period.
Over next 12 months, D2L's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate D2L's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for D2L and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 8% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 7% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -102% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 13% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.1M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 26% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 16% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 23% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 65% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Alef Education | XXX | XXX | XXX | XXX | XXX | XXX |
| 51 Talk | XXX | XXX | XXX | XXX | XXX | XXX |
| Janison | XXX | XXX | XXX | XXX | XXX | XXX |
| ReadyTech | XXX | XXX | XXX | XXX | XXX | XXX |
| FLOWSPARKS | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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D2L acquired XXX companies to date.
Last acquisition by D2L was XXXXXXXX, XXXXX XXXXX XXXXXX . D2L acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was D2L founded? | D2L was founded in 2011. |
| Where is D2L headquartered? | D2L is headquartered in Canada. |
| How many employees does D2L have? | As of today, D2L has 1K+ employees. |
| Who is the CEO of D2L? | D2L's CEO is Mr. John Baker. |
| Is D2L publicy listed? | Yes, D2L is a public company listed on TSE. |
| What is the stock symbol of D2L? | D2L trades under DTOL ticker. |
| When did D2L go public? | D2L went public in 2021. |
| Who are competitors of D2L? | Similar companies to D2L include e.g. Alef Education, 51 Talk, Janison, ReadyTech. |
| What is the current market cap of D2L? | D2L's current market cap is $458M |
| What is the current revenue of D2L? | D2L's last 12-month revenue is $292M. |
| What is the current EBITDA of D2L? | D2L's last 12-month EBITDA is $40.6M. |
| What is the current EV/Revenue multiple of D2L? | Current revenue multiple of D2L is 1.8x. |
| What is the current EV/EBITDA multiple of D2L? | Current EBITDA multiple of D2L is 13.1x. |
| What is the current revenue growth of D2L? | D2L revenue growth between 2023 and 2024 was 8%. |
| Is D2L profitable? | Yes, D2L is EBITDA-positive (as of the last 12 months). |
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