ACADEMY OF LEARNING

Academy of Learning Co.

9541StocksTadawulTechnology

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

	2025Jun 30, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	6.28M	7.81M	26.83M	26.96M	76.14M
Cash & Short-Term Investments	26.80M	32.87M	26.83M	76.96M	76.14M
Receivables	120.12M	43.44M	29.33M	18.50M	12.92M
Inventory	4.27M	4.38M	4.35M	2.15M	0.83M
Current Assets	154.04M	101.37M	73.96M	103.71M	92.31M
PP&E	152.83M	163.32M	93.89M	18.59M	11.22M
Intangible Assets	2.67M	—	0.87M	—	—
Total Assets	309.53M	264.69M	168.71M	122.30M	103.53M
Liabilities
Accounts Payable	5.31M	4.60M	1.74M	—	0.11M
Current Liabilities	39.78M	25.66M	17.16M	9.07M	5.18M
Long-Term Debt	45.37M	36.13M	—	—	—
Total Debt	135.32M	122.23M	39.16M	7.04M	3.82M
Total Liabilities	165.23M	141.61M	55.63M	16.74M	10.38M
Equity & Ownership
Retained Earnings	54.30M	33.08M	53.08M	45.57M	33.16M
Total Equity	144.30M	123.08M	113.08M	105.57M	93.16M
Net Debt	108.52M	89.36M	12.33M	-69.92M	-72.32M
Shares Outstanding	135,000,000	135,000,000	135,000,000	135,000,000	135,332,866
Cash & Assets
Total Assets	309.53M	264.69M	168.71M	122.30M	103.53M
Total Current Assets	154.04M	101.37M	73.96M	103.71M	92.31M
Cash & Equivalents	6.28M	7.81M	26.83M	26.96M	76.14M
Cash & Short-Term Investments	26.80M	32.87M	26.83M	76.96M	76.14M
Net Cash (Debt)	-108.52M	-89.36M	-12.33M	69.92M	72.32M
Net Cash Per Share	-0.80	-0.66	-0.09	0.52	0.61
Cash Growth	-18.5%	+22.5%	-65.1%	+1.1%	—
Net Cash Growth	—	—	—	-3.3%	—
Accounts Receivable	118.44M	43.44M	28.66M	17.60M	12.82M
Other Receivables	1.69M	—	0.66M	0.90M	0.10M
Receivables	120.12M	43.44M	29.33M	18.50M	12.92M
Inventory	4.27M	4.38M	4.35M	2.15M	0.83M
Prepaid Expenses	1.64M	17.57M	0.94M	0.16M	0.12M
Construction In Progress	1.02M	—	39.34M	—	0.18M
Machinery	54.77M	—	21.34M	18.64M	14.40M
Leasehold Improvements	51.71M	—	6.62M	4.83M	2.72M
Property, Plant & Equipment	152.83M	163.32M	93.89M	18.59M	11.22M
Other Intangible Assets	2.67M	—	0.87M	—	—
Other Current Assets	1.21M	3.12M	12.52M	5.94M	2.31M
Long-Term Leases	71.78M	73.15M	34.20M	4.64M	2.79M
Current Portion of Leases	6.29M	5.63M	4.96M	2.40M	1.03M
Loans & Investments
Trading Asset Securities	—	25.05M	—	—	—
Short-Term Investments	20.52M	—	—	50.00M	—
Liabilities & Obligations
Total Liabilities	165.23M	141.61M	55.63M	16.74M	10.38M
Total Liabilities & Equity	309.53M	264.69M	168.71M	122.30M	103.53M
Total Current Liabilities	39.78M	25.66M	17.16M	9.07M	5.18M
Accounts Payable	5.31M	4.60M	1.74M	—	0.11M
Accrued Expenses	11.86M	6.32M	8.75M	2.13M	0.94M
Current Income Taxes Payable	4.44M	1.78M	1.70M	2.65M	1.73M
Current Unearned Revenue	—	—	—	1.79M	1.15M
Other Current Liabilities	—	—	—	100.44K	210.00K
Pension & Post-Retirement Benefits	8.30M	6.68M	4.28M	3.03M	2.41M
Debt & Funding
Long-Term Debt	45.37M	36.13M	—	—	—
Total Debt	135.32M	122.23M	39.16M	7.04M	3.82M
Current Portion of Long-Term Debt	11.88M	7.32M	—	—	—
Equity & Book Value
Shareholders' Equity	144.30M	123.08M	113.08M	105.57M	93.16M
Common Stock	90.00M	90.00M	60.00M	60.00M	60.00M
Retained Earnings	54.30M	33.08M	53.08M	45.57M	33.16M
Book Value Per Share	1.07	0.91	0.84	0.78	0.69
Tangible Book Value	141.63M	123.08M	112.21M	105.57M	93.16M
Tangible Book Value Per Share	1.05	0.91	0.83	0.78	0.69
Filing Date Shares Outstanding	135.00M	135.00M	135.00M	135.00M	135.33M
Total Common Shares Outstanding	135.00M	135.00M	135.00M	135.00M	135.33M
Working Capital	114.26M	75.71M	56.80M	94.64M	87.14M

Income Statement Balance Sheet Cash Flow Ratios

Annual Semi-annual

Annual (SAR)

	2025Jun 30, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Assets
Cash & Equivalents	6.28M	7.81M	26.83M	26.96M	76.14M
Cash & Short-Term Investments	26.80M	32.87M	26.83M	76.96M	76.14M
Receivables	120.12M	43.44M	29.33M	18.50M	12.92M
Inventory	4.27M	4.38M	4.35M	2.15M	0.83M
Current Assets	154.04M	101.37M	73.96M	103.71M	92.31M
PP&E	152.83M	163.32M	93.89M	18.59M	11.22M
Intangible Assets	2.67M	—	0.87M	—	—
Total Assets	309.53M	264.69M	168.71M	122.30M	103.53M
Liabilities
Accounts Payable	5.31M	4.60M	1.74M	—	0.11M
Current Liabilities	39.78M	25.66M	17.16M	9.07M	5.18M
Long-Term Debt	45.37M	36.13M	—	—	—
Total Debt	135.32M	122.23M	39.16M	7.04M	3.82M
Total Liabilities	165.23M	141.61M	55.63M	16.74M	10.38M
Equity & Ownership
Retained Earnings	54.30M	33.08M	53.08M	45.57M	33.16M
Total Equity	144.30M	123.08M	113.08M	105.57M	93.16M
Net Debt	108.52M	89.36M	12.33M	-69.92M	-72.32M
Shares Outstanding	135,000,000	135,000,000	135,000,000	135,000,000	135,332,866
Cash & Assets
Total Assets	309.53M	264.69M	168.71M	122.30M	103.53M
Total Current Assets	154.04M	101.37M	73.96M	103.71M	92.31M
Cash & Equivalents	6.28M	7.81M	26.83M	26.96M	76.14M
Cash & Short-Term Investments	26.80M	32.87M	26.83M	76.96M	76.14M
Net Cash (Debt)	-108.52M	-89.36M	-12.33M	69.92M	72.32M
Net Cash Per Share	-0.80	-0.66	-0.09	0.52	0.61
Cash Growth	-18.5%	+22.5%	-65.1%	+1.1%	—
Net Cash Growth	—	—	—	-3.3%	—
Accounts Receivable	118.44M	43.44M	28.66M	17.60M	12.82M
Other Receivables	1.69M	—	0.66M	0.90M	0.10M
Receivables	120.12M	43.44M	29.33M	18.50M	12.92M
Inventory	4.27M	4.38M	4.35M	2.15M	0.83M
Prepaid Expenses	1.64M	17.57M	0.94M	0.16M	0.12M
Construction In Progress	1.02M	—	39.34M	—	0.18M
Machinery	54.77M	—	21.34M	18.64M	14.40M
Leasehold Improvements	51.71M	—	6.62M	4.83M	2.72M
Property, Plant & Equipment	152.83M	163.32M	93.89M	18.59M	11.22M
Other Intangible Assets	2.67M	—	0.87M	—	—
Other Current Assets	1.21M	3.12M	12.52M	5.94M	2.31M
Long-Term Leases	71.78M	73.15M	34.20M	4.64M	2.79M
Current Portion of Leases	6.29M	5.63M	4.96M	2.40M	1.03M
Loans & Investments
Trading Asset Securities	—	25.05M	—	—	—
Short-Term Investments	20.52M	—	—	50.00M	—
Liabilities & Obligations
Total Liabilities	165.23M	141.61M	55.63M	16.74M	10.38M
Total Liabilities & Equity	309.53M	264.69M	168.71M	122.30M	103.53M
Total Current Liabilities	39.78M	25.66M	17.16M	9.07M	5.18M
Accounts Payable	5.31M	4.60M	1.74M	—	0.11M
Accrued Expenses	11.86M	6.32M	8.75M	2.13M	0.94M
Current Income Taxes Payable	4.44M	1.78M	1.70M	2.65M	1.73M
Current Unearned Revenue	—	—	—	1.79M	1.15M
Other Current Liabilities	—	—	—	100.44K	210.00K
Pension & Post-Retirement Benefits	8.30M	6.68M	4.28M	3.03M	2.41M
Debt & Funding
Long-Term Debt	45.37M	36.13M	—	—	—
Total Debt	135.32M	122.23M	39.16M	7.04M	3.82M
Current Portion of Long-Term Debt	11.88M	7.32M	—	—	—
Equity & Book Value
Shareholders' Equity	144.30M	123.08M	113.08M	105.57M	93.16M
Common Stock	90.00M	90.00M	60.00M	60.00M	60.00M
Retained Earnings	54.30M	33.08M	53.08M	45.57M	33.16M
Book Value Per Share	1.07	0.91	0.84	0.78	0.69
Tangible Book Value	141.63M	123.08M	112.21M	105.57M	93.16M
Tangible Book Value Per Share	1.05	0.91	0.83	0.78	0.69
Filing Date Shares Outstanding	135.00M	135.00M	135.00M	135.00M	135.33M
Total Common Shares Outstanding	135.00M	135.00M	135.00M	135.00M	135.33M
Working Capital	114.26M	75.71M	56.80M	94.64M	87.14M