Cengage Learning Holdings II, Inc.

OTCPK:CNGO

United States / Consumer Discretionary / Diversified Consumer Services

Overview

News

5Y Historical Financials

Stock Price

23.50 USD


Key Metrics	Latest
Total Revenue	1.479 B
Adjusted EBITDA	330.9 M
EBITDA Margin	22.4%
Net Profit Margin	2.8%
Total Assets	2.312 B
Total Debt	1.662 B

5Y Historical Financial Statements

Summary Financials


Summary Financials

	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Mar-21	Mar-22	Mar-23	Mar-24	Mar-25	12 Months	Jun-24	Jun-25

Revenue	1,237.70	1,371.60	1,423.50	1,502.70	1,478.40	1,479.10	332.30	333.00
% Growth		0.11	0.04	0.06	(0.02)			0.00

Adjusted EBITDA	191.00	253.00	268.50	252.40	323.80	330.90	53.20	60.30
% Margin	0.15	0.18	0.19	0.17	0.22	0.22	0.16	0.18

Adjusted EBIT	95.20	155.10	165.20	150.50	221.90	232.10	20.70	30.90
% Margin	0.08	0.11	0.12	0.10	0.15	0.16	0.06	0.09

Adjusted Net Income	(87.31)	(24.55)	(28.06)	(49.82)	28.94	42.04	(20.98)	(7.87)
% Margin	(0.07)	(0.02)	(0.02)	(0.03)	0.02	0.03	(0.06)	(0.02)

Adjusted Basic EPS	(1.41)	(0.39)	(0.45)	(0.80)	0.46	0.67	(0.34)	(0.13)

Supporting Calculations

Income Statement

Balance Sheet

Statement of Cashflows


Income Statement
						Original
USD	Fiscal Year Ending					Latest	Year-to-date Ending
(in millions)	Mar-21	Mar-22	Mar-23	Mar-24	Mar-25	Jun-25	Jun-24	Jun-25
	FY - 4	FY - 3	FY - 2	FY - 1	FY	LTM	YTD-1	YTD

Revenue	1,238	1,372	1,424	1,503	1,478	1,479	332	333
% Growth	NA	10.8%	3.8%	5.6%	-1.6%			0.2%

Cost of Revenue	(625)	(655)	(682)	(697)	(638)	(642)	(155)	(159)
Gross Profit	613	716	742	806	841	837	177	174
% Revenue	49.5%	52.2%	52.1%	53.6%	56.9%	56.6%	53.4%	52.3%

Research and Development	0	0	0	0	0	0	0	0
Selling and Marketing	(13)	(20)	(28)	(29)	(29)	(29)	0	0
General and Admin	(363)	(393)	(411)	(497)	(461)	(450)	(124)	(114)
Other Inc / (Exp)	(179)	(174)	(151)	(174)	(325)	(335)	(44)	(54)
Total Operating Exp	(556)	(587)	(590)	(700)	(814)	(815)	(168)	(168)

Operating Income	58	129	152	106	26	23	10	6
% Revenue	4.7%	9.4%	10.6%	7.1%	1.8%	1.5%	2.9%	1.8%

Interest Expense	(155)	(161)	(185)	(176)	(146)	(137)	(39)	(30)
Pre-tax Income	(98)	(32)	(33)	(70)	(120)	(115)	(29)	(24)
Earnings of Discontinued Ops.	0	0	0	0	0	0	0	0
Provision for Taxes	(13)	(13)	(7)	(11)	5	5	1	0
Net Income to Company	(110)	(45)	(40)	(81)	(114)	(110)	(29)	(24)
% Margin	-8.9%	-3.3%	-2.8%	-5.4%	-7.7%	-7.4%	-8.6%	-7.3%

Minority Interest in Earnings	0	0	0	0	0	0	0	0
Net Income to Stockholders	(110)	(45)	(40)	(81)	(114)	(110)	(29)	(24)

Preferred Dividends	0	0	0	0	0	0	0	0
Other Adj.	0	0	0	0	0	(0)	(14)	(14)

Net Income to Common	(110)	(45)	(40)	(81)	(114)	(110)	(43)	(39)
% Margin	-8.9%	-3.3%	-2.8%	-5.4%	-7.7%	-7.4%	-12.9%	-11.6%

As Reported
Basic EPS (Continuing Ops)	(1.77)	(0.72)	(0.64)	(1.29)	(1.83)	(1.76)	(0.68)	(0.61)
Diluted EPS (Continuing Ops)	(1.77)	(0.72)	(0.64)	(1.29)	(1.83)	(1.76)	(0.68)	(0.61)

WA Basic Shares Out.	62.10	62.30	62.40	62.50	62.60	62.80	62.50	62.70
WA Diluted Shares Out.	62.10	62.30	62.40	62.50	62.60	62.80	62.50	62.70

EBITDA, EBIT Reconciliation
EBT, Incl. Unusual Items	(98)	(32)	(33)	(70)	(120)	(115)	(29)	(24)
Addback: Net Interest Expense	155	161	185	176	146	137	39	30
Addback: Other Non Operating Expenses, Total	7	(1)	(3)	3	2	4	1	3
Addback: Depreciation & Amortization	96	98	103	102	102	99	33	29
Addback: Restructuring Charges	9	11	11	22	19	26	10	17
Addback: Merger / Acquisition Expenses	3	4	0	0	0	0	0	0
Addback: Goodwill Impairment	10	0	0	0	110	110	0	0
Addback: Gain (Loss) On Sale Of Invest.	0	0	0	0	0	5	0	5
Addback: Gain (Loss) On Sale Of Assets	0	0	0	0	0	0	0	0
Addback: Asset Writedown	10	1	9	5	64	64	0	0
Addback: In Process R&D Expenses	0	0	0	0	0	0	0	0
Addback: Insurance Settlements	0	0	0	0	0	0	0	0
Addback: Legal Settlements	0	0	0	0	0	0	0	0
Addback: Other Unusual Items	0	11	(5)	15	0	0	0	0
Adjusted EBITDA	191	253	269	252	324	331	53	60
% Margin	15.4%	18.4%	18.9%	16.8%	21.9%	22.4%	16.0%	18.1%

Adjusted EBIT	95	155	165	151	222	232	21	31
% Margin	7.7%	11.3%	11.6%	10.0%	15.0%	15.7%	6.2%	9.3%

Adjusted Net Income Reconciliation
Net Income to Company	(110)	(45)	(40)	(81)	(114)	(110)	(29)	(24)
Addback: Unusual Items	31	27	16	42	194	206	10	22
Less: Tax Benefit of Unusual Items (26%)	(8)	(7)	(4)	(11)	(50)	(53)	(3)	(6)
Adjusted Net Income	(87)	(25)	(28)	(50)	29	42	(21)	(8)
% Margin	-7.1%	-1.8%	-2.0%	-3.3%	2.0%	2.8%	-6.3%	-2.4%

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Cengage Learning Holdings II, Inc.

OTCPK:CNGO

United States / Consumer Discretionary / Diversified Consumer Services

5Y Historical Financials