06:38 AM EDT, 04/04/2024 (MT Newswires) -- D2L Inc. ( DTLIF ) , a global learning technology company, overnight Wednesday reported fiscal fourth-quarter comprehensive income of US$1.6 million ($2.2 million), or US$0.01 per diluted share, as compared with a loss of US$6.2 million, or US$0.12 per diluted share, a year earlier.

Analysts polled by Capital IQ expected US$0.00.

Revenue for the quarter ended Jan. 31, 2024, was US$47.6 million, up from US$42.7 million a year earlier. Analysts surveyed by Capital IQ expected US$46.7 million.

Adjusted EBITDA for Q4 was US$3.5 million, up from US$425,000 a year earlier.

D2L is initiating financial guidance for the year ended Jan. 31, 2025, which reflects the operating levels the company expects to achieve for fiscal 2025.

D2L said it plans to continue making measured investments for growth in fiscal 2025 while optimizing its operations towards increasing levels of profitability.

Subscription and support revenue is expected to be US$177 million to US$180 million, implying growth of 10% at the midpoint over fiscal 2024. Total revenue is expected to be US$197 million to US$201 million, implying growth of 9% at the midpoint over fiscal 2024; and the company is expecting adjusted EBITDA of US$21 million to US$23 million, implying an adjusted EBITDA margin of 11% at the midpoint.

Also, D2L expects revenue and adjusted EBITDA to increase as fiscal 2025 progresses, allowing the company to exit the year with a low-to-mid-teen adjusted EBITDA margin.

In more company news, the company signed a binding letter agreement to spin out the D2L Wave offering into a new independent standalone company, SkillsWave Corp., and will sell majority ownership to John Baker. The deal is expected to close by mid-year.

D2L Wave is an early stage upskilling technology, representing a "very small percentage" of D2L's overall revenue in Fiscal 2024, and is separate from D2L's corporate learning core business.