01:42 PM EST, 03/05/2024 (MT Newswires) -- National Bank said Tuesday that Thinkific Labs Inc. ( THNCF ) reported "essentially in-line" fourth-quarter results relative to its and consensus expectations.

The company reported Q4 revenue of $15.6 million versus the NBF estimate of $15.3 million; consensus estimate of $15.3 million and positive adjusted EBITDA of $0.6 million versus the NBF estimate of $0.7 million; and the consensus estimate of $0.3 million.

"With respect to the notable KPIs (in FQ4), on a Y/Y basis, Thinkific ( THNCF ) had +4% growth in paying customers, +7% in ARR and +9% in ARPU with Payment penetration at 34% of GMV," the analysts said.

While National Bank has reiterated its outperform rating, it has raised the price target on the company's shares to C$4.50 from C$4.

"Bottom line, we continue to see Thinkific ( THNCF ) as niche leader in the online content creator / learning market," the analysts added.

Thinkific Labs ( THNCF ) is a Canada-based cloud-based software platform.

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