Canada's Thinkific Q1 revenue rises on Plus segment growth

Thinkific Labs

04/05/2026 21:37

Overview

Canada learning commerce platform's Q1 revenue rose 5%, slightly beating analyst expectations

Q1 adjusted EBITDA was negative, missing analyst expectations

Company attributed revenue growth to strong Plus segment and higher ARPU

Outlook

Thinkific expects Q2 2026 revenue of $18.2 mln to $18.5 mln

Company sees Q2 2026 adjusted EBITDA margin between negative 2% and negative 5%

Result Drivers

AI PRODUCT LAUNCH - Co said launch of AI Teaching Assistant, Thinker, drove productivity gains and positive customer response

PLUS SEGMENT GROWTH - Plus Subscription and Commerce revenue grew 12%, supporting overall revenue growth

COMMERCE PENETRATION - Increased commerce revenue and payment volume driven by higher Thinkific Commerce penetration and new global currency options

Company press release: ID:nCNWs2HcGa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$18.70 mln
$18.59 mln (4 Analysts)
Q1 Net Income
-$1.10 mln
Q1 Adjusted EBITDA
Miss
-$500,000
-$376,500 (4 Analysts)
Q1 Gross Margin
72.00%
Q1 GMV
$117.50 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy."

Wall Street's median 12-month price target for Thinkific Labs Inc is C$2.63, about 66.1% above its May 1 closing price of C$1.58

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)