PowerSchool Holdings, Inc. - PWSC STOCK NEWS

PowerSchool has appointed Fred Studer as the new Chief Marketing Officer, effective immediately. With over 30 years of experience in brand marketing, Studer previously held significant roles at Tibco Corporation, FinancialForce, and Microsoft. His expertise in crafting strategic narratives and growing brand awareness is expected to enhance PowerSchool's market share in both U.S. and international markets. CEO Hardeep Gulati expressed confidence in Studer’s ability to propel the company towards its global leadership goals.

PowerSchool reported a strong second quarter ending June 30, 2022, exceeding revenue and Adjusted EBITDA expectations. Total revenue reached $157.6 million, with Subscription and Support revenue at $135.0 million, an 11% increase year-over-year. The company achieved an Annual Recurring Revenue (ARR) of $580.3 million and a Net Revenue Retention Rate of 107.3%. Despite a net loss of $6.5 million, Adjusted EBITDA stood at $48.7 million, reflecting a 31% margin. PowerSchool has also expanded its product offerings significantly and raised its full-year outlook.

PowerSchool (NYSE: PWSC) has been selected by Liwa Education in the UAE as its primary education technology provider. This partnership will implement PowerSchool's comprehensive Student Information System and related solutions to enhance administrative efficiency as Liwa Education opens new K-12 schools. The transition aims to unify various educational technologies, improving data management and student outcomes. Liwa Education seeks to modernize its platforms while maintaining quality education, leveraging PowerSchool's tools for effective reporting and analytics.

PowerSchool (NYSE: PWSC) announces that West Ada School District in Idaho has implemented PowerSchool Unified Classroom® Schoology Learning as its primary learning management system. This transition aims to enhance instruction, streamline curriculum organization, and reduce teacher workloads. Schoology Learning combines with PowerSchool's Student Information System to improve student performance, collaboration, and parental engagement. The district serves around 40,000 students and has seen substantial enrollment growth, adding approximately 1,000 new students annually.

PowerSchool (NYSE: PWSC) has launched Connected Intelligence by PowerSchool®, a fully managed Data-as-a-Service (DaaS) platform for K-12 education. Developed in partnership with Snowflake, the platform offers school districts a secure, unified way to manage their data. Key benefits include improved student outcomes through data collaboration, reduced resource expenditure on data management, and enhanced access to both historical and current data. The initiative aims to empower educators to personalize learning and drive student success.

PowerSchool (NYSE: PWSC) has been selected by Kenton County School District (KCSD) in Fort Wright, Kentucky, to implement its Unified Classroom® Schoology Learning as the primary learning management system. This replaces Google Classroom and integrates with existing tools like Google Drive. The district has already noted improved operational efficiency and real-time insights into student performance, further targeting learning gaps. KCSD, the fifth largest in Kentucky serving 14,000 students, aims for enhanced educational outcomes using PowerSchool's solutions.

PowerSchool (NYSE: PWSC) has partnered with Stanislaus County Office of Education to implement Unified Insights™ Student Essentials, improving data warehousing and analytics across 25 school districts in California. This initiative supports the Global Data Project, enabling real-time monitoring of learning trends and better decision-making for educational outcomes. STANCOE aims to enhance data analytics services for improved student support and collaboration among districts, reflecting a commitment to leveraging data for educational improvement.

PowerSchool Holdings (NYSE: PWSC) announced it will release its financial results for Q2 2022, ending June 30, 2022, on August 8, 2022, post-market close. CEO Hardeep Gulati and CFO Eric Shander will host a conference call and live webcast at 2:00 p.m. Pacific Time to discuss the results. PowerSchool, a leading provider of cloud-based K-12 education software in North America, supports over 45 million students and more than 14,000 customers, including over 90 of the top 100 U.S. districts by enrollment.

PowerSchool (NYSE: PWSC) supports Code.org's initiative to enhance computer science education across U.S. schools. Along with 500 industry leaders, PowerSchool advocates updating K-12 curricula to ensure every student learns computer science. Despite 700,000 open computing jobs, only 80,000 graduates are produced annually, with just 5% of high school students studying computer science. The CEOs emphasize the necessity of prioritizing computer science to provide equal opportunities, particularly for underrepresented groups, in the digital economy.