Subscription and Support Revenue Growth
Subscription and support revenue rose by 6% to $49.4 million in Q3, with annual recurring revenue also growing by 6% year-over-year to $213.4 million.
International ARR Growth
Internationally, year-over-year annual recurring revenue (ARR) growth exceeded 15% in Q3, indicating strong performance in global markets.
New Customer Wins
New customers in higher education and corporate sectors include University of Central Arkansas, St. Ambrose University, and Oregon Health & Science University, along with international clients like University of West Scotland and a leading global banking institute.
Strong Financial Position
D2L reports having no debt, $110.5 million in cash and cash equivalents, and free cash flow of $18.8 million, up from $11.3 million the previous year.
AI Product Lumi Gains Traction
Lumi, D2L's AI offering, shows a growing pipeline with more than $2 million in ARR five quarters post-launch.