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OpenLearning Ltd.
(Sydney:OLL)
OpenLearning Ltd. (OLL) vs. iShares MSCI Australia ETF (EWA)
OpenLearning Ltd. Business Overview & Revenue Model
OpenLearning Ltd. Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.18M | 2.28M | 2.29M | 3.17M | 3.51M |
| Gross Profit | -1.81M | -721.88K | -2.11M | -3.44M | -4.48M |
| EBITDA | -3.41M | -2.25M | -3.97M | -5.27M | -6.43M |
| Net Income | -4.10M | -2.85M | -4.42M | -5.65M | -6.73M |
Balance Sheet | |||||
| Total Assets | 4.53M | 3.39M | 3.34M | 4.58M | 6.52M |
| Cash, Cash Equivalents and Short-Term Investments | 2.09M | 953.16K | 1.10M | 2.20M | 4.59M |
| Total Debt | 0.00 | 2.06M | 3.05M | 0.00 | 125.00K |
| Total Liabilities | 3.46M | 4.13M | 5.35M | 2.16M | 2.40M |
| Stockholders Equity | 1.07M | -741.39K | -2.01M | 2.42M | 4.13M |
Cash Flow | |||||
| Free Cash Flow | -2.52M | -2.16M | -4.10M | -6.15M | -6.75M |
| Operating Cash Flow | -2.52M | -2.15M | -3.32M | -5.41M | -6.01M |
| Investing Cash Flow | -2.75K | -956.13K | -778.42K | -738.93K | -738.27K |
| Financing Cash Flow | 3.66M | 2.95M | 3.00M | 3.76M | 2.73M |
OpenLearning Ltd. Technical Analysis
OpenLearning Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
46 Neutral | AU$3.42M | -8.18 | -29.77% | ― | 36.72% | 20.00% | |
43 Neutral | AU$8.32M | -1.51 | -122.65% | ― | ― | 28.93% | |
41 Neutral | AU$22.68M | -5.58 | ― | ― | 12.77% | 53.47% | |
37 Underperform | AU$1.43M | -0.37 | ― | ― | ― | ― |
OpenLearning Ltd. Corporate Events
OpenLearning reported strong top-line momentum for 2025, with revenue from ordinary activities rising 39.4% to $3.18 million on the back of higher platform SaaS fees, marketplace sales, and services, while gross sales climbed 20.5% despite lower revenue sharing with course creators. However, the company’s net loss widened to $4.1 million and losses per share deepened, reflecting higher non-cash expenses including share-based payments and depreciation, and it confirmed that no dividends were paid or proposed.
Operationally, the company highlighted accelerating SaaS growth, over $3.6 million in new contract value, international expansion, and deeper AI integration across its platform as it builds a “virtuous cycle” linking institutions, learners, and employers. By combining its LMS, global marketplaces, digital portfolios, and planned Talent Search feature, OpenLearning aims to evolve into a lifelong learning and career platform with structural network effects that could enhance its competitive positioning and monetisation opportunities over time.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning has appointed experienced governance professional Justyn Stedwell as company secretary, effective immediately, returning him to a role he previously held from the company’s 2019 IPO until March 2022. He replaces outgoing joint company secretaries Maria Clemente and Sally Greenwood, and will also serve as the primary contact for communications between the company and the ASX, signalling an emphasis on continuity and regulatory compliance in the group’s corporate administration.
The change in company secretary comes as OpenLearning continues to scale its AI-powered learning management platform across key Asia-Pacific education markets, where it supports more than 250 providers and millions of learners. The appointment of a seasoned ASX governance specialist is likely to underpin the company’s ongoing engagement with investors and regulators as it pursues growth in higher education and enterprise learning segments.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd. reported that its platform SaaS annual recurring revenue (ARR) rose 30% year-on-year to $3.035 million in the fourth quarter of 2025, marking more than 16 consecutive quarters of annualised SaaS revenue growth. The company signed more than $3.6 million in total contract value during FY2025, largely from institutional clients in its core Asia-Pacific markets, while average SaaS ARR per customer surpassed $12,000 and is growing at over 22% annually, underscoring rising platform adoption and larger deal sizes that strengthen its growth trajectory and recurring revenue base.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning reported a strong fourth quarter and full-year performance for FY25, with platform SaaS annual recurring revenue up 30% year-on-year to $3.035 million, marking 16 consecutive quarters of growth and a shift towards larger, higher-value LMS contracts. The company signed more than $3.6 million in new SaaS contracts during 2025, expanded its international footprint through multi-year deals in Indonesia and Africa and new distribution partnerships, and strengthened its balance sheet with a $2.6 million capital raising and conversion of all debt to equity, positioning it for continued expansion and a targeted move to cash-flow breakeven by early 2027.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Limited has notified the market of the planned issue of 1,000,000 unquoted options under its employee incentive scheme, exercisable at $0.05 and expiring on 1 July 2030, with an issue date of 14 October 2025. The move indicates the company’s continued use of equity-based remuneration to attract and retain staff, aligning employee incentives with shareholder interests while modestly increasing potential future equity dilution for existing investors if the options are exercised.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Limited has notified the market that it will issue 2 million unquoted performance rights under its employee incentive scheme. The rights, which are not intended to be quoted on the ASX, are scheduled for issue on 14 October 2025 and are designed to support staff retention and alignment with shareholder interests, signalling the company’s continued use of equity-based remuneration to incentivise employees.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Limited has disclosed a substantial increase in the indirect shareholding of director Rupesh Singh following a series of transactions completed on 22 December 2025. Through ECA Investments Group Pty Ltd as trustee for the ECA Investments Group Trust, Singh’s indirect interest rose by 234,275,859 fully paid ordinary shares via two debt-to-equity conversions and a placement, lifting ECA’s holding to 450,172,429 shares, while his other indirect holdings through ECA and Aria Assets Superfund Pty Ltd remain unchanged. The transactions, executed at issue prices between $0.0174 and $0.022 per share, signal a significant strengthening of Singh’s financial alignment with OpenLearning and reflect the company’s use of equity to restructure debt and raise capital, with potential implications for its capital structure and governance profile.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Limited has issued 234,275,859 fully paid ordinary shares via a private placement and debt-to-equity conversion, following shareholder approval at a recent general meeting. The company has confirmed that the shares were issued without a prospectus under relevant Corporations Act provisions and that it remains compliant with continuous disclosure and financial reporting obligations, signalling a significant balance sheet restructuring that may strengthen its capital position while maintaining regulatory transparency for investors.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd has applied to the ASX for quotation of new ordinary fully paid shares under code OLL, adding 55,514,367 securities to its listed capital as of 22 December 2025. The issuance, which follows a previously announced transaction, expands the company’s listed share base and may affect ownership structure and trading liquidity for existing and new shareholders once the additional securities commence quotation.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd has applied for the quotation of 121,943,311 new fully paid ordinary shares on the ASX under the code OLL, with an issue date of 22 December 2025. The move formalises the listing of securities previously flagged to the market and will significantly increase the number of quoted shares on issue, potentially enhancing liquidity for investors and supporting the company’s capacity to execute its previously announced transactions.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd has applied to the ASX for quotation of 56,818,181 new fully paid ordinary shares under its existing issuer code OLL. The new securities, issued on 22 December 2025, stem from a previously announced transaction and will expand the company’s quoted share capital, potentially affecting existing shareholders through dilution while providing the company with additional capital or strategic flexibility depending on the terms of the earlier transaction.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd has clarified that a previously announced proposed issue of debt conversion shares was mistakenly duplicated. The company has now cancelled the redundant Appendix 3B filing, confirming that the valid details of the debt conversion share issue remain as per the announcement lodged on 9 September 2025, thereby preventing confusion for investors and ensuring accuracy in its ASX disclosures.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd. has announced a proposed issuance of 121,943,311 ordinary fully paid securities, scheduled for December 19, 2025. This move is part of a placement or other type of issue, aiming to strengthen the company’s financial position and potentially expand its market reach. The issuance is subject to ASX approval and aligns with the company’s strategic objectives to enhance its operational capabilities and industry standing.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd. announced a change in the director’s interest, with Rupesh Singh acquiring an additional 22,727 fully paid ordinary shares through an on-market purchase. This transaction reflects a minor adjustment in the director’s holdings, indicating a continued commitment to the company’s growth and stability.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Limited announced that all resolutions presented at its General Meeting were passed by a poll, as required by corporate regulations. This outcome reinforces the company’s strategic direction and supports its ongoing expansion in the global education technology market, potentially benefiting stakeholders by ensuring continued growth and innovation.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Limited has reported a 27% year-on-year growth in its SaaS annual recurring revenue (ARR), reaching $2.83 million by the end of Q3 2025. The company has also expanded its B2B SaaS customer base to 256, with an average revenue per customer exceeding $11,000, marking a 17% increase from the previous year. This growth underscores the company’s strong market positioning and potential for further expansion in the SaaS industry.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd. has announced a change in the director’s interest, with Director Rupesh Singh acquiring an additional 11,904 fully paid ordinary shares through an on-market purchase. This change reflects a minor adjustment in the director’s indirect holdings via the Aria Assets Superfund Pty Ltd, indicating a continued confidence in the company’s growth and market position.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Limited has announced the issuance of 3,559,000 fully paid ordinary shares following a private placement, as detailed in their recent ASX release. This move is part of the company’s compliance with the Corporations Act, and it reflects OpenLearning’s ongoing efforts to strengthen its financial position and expand its market reach. The issuance of shares without disclosure underlines the company’s confidence in its strategic direction and potential for growth, which could have significant implications for its stakeholders and market positioning.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.
OpenLearning Ltd. announced the quotation of 3,559,000 ordinary fully paid securities on the Australian Securities Exchange (ASX), effective November 28, 2025. This move is part of previously announced transactions and is expected to impact the company’s market presence by potentially increasing its liquidity and investor base.
The most recent analyst rating on (AU:OLL) stock is a Hold with a A$0.04 price target. To see the full list of analyst forecasts on OpenLearning Ltd. stock, see the AU:OLL Stock Forecast page.