PowerSchool Holdings, Inc. - PWSC STOCK NEWS

PowerSchool (NYSE: PWSC) has been awarded 12 Stevie Awards for its commitment to customer support, marking its third consecutive year of recognition. The awards were announced at a gala in Las Vegas on March 3, 2023. PowerSchool's accolades include gold awards for both external and internal customer service training teams, as well as recognition for its customer engagement and satisfaction initiatives. With over 2,300 nominations received globally, the awards celebrate excellence across numerous categories in customer service and sales, further establishing PowerSchool's leadership in the K-12 education software market.

PowerSchool Holdings (NYSE: PWSC) announced the pricing of an underwritten offering of 8,700,000 shares of Class A common stock at $21.00 per share, primarily by selling stockholders including Onex Partners and Vista Equity Partners. Hardeep Gulati sold 63,727 shares in this offering. The transaction is anticipated to close on March 3, 2023, pending customary closing conditions. PowerSchool will not earn proceeds from this sale but will cover associated costs, excluding underwriting commissions. Goldman Sachs and Barclays are the joint book-running managers for the offering.

PowerSchool Holdings, Inc. (NYSE: PWSC) announced a public offering of 8,700,000 shares of its Class A common stock by certain stockholders, including Onex Partners and Vista Equity Partners, with an additional 1,305,000 shares available to underwriters. PowerSchool will not receive any proceeds from this offering but will incur costs associated with it. Goldman Sachs & Co. LLC and Barclays Capital Inc. are the joint book-running managers for the offering. This follows a shelf registration statement filed with the SEC, becoming effective upon filing. The offering is aimed at enhancing liquidity for the selling stockholders and will be conducted through a prospectus supplement.

PowerSchool (NYSE: PWSC) announced a strategic partnership with OneConnect, a technology service provider, to expand its customer base in Africa. This collaboration marks the launch of the PowerPartner Program in the region, with OneConnect serving as its inaugural channel partner. PowerSchool aims to reach over 500,000 students across Africa within a year, leveraging its suite of educational solutions. The partnership aligns with PowerSchool's mission to enhance education technology access and improve student outcomes. Additionally, the company plans to open its first Middle East and Africa office in Dubai in Spring 2023.

PowerSchool Holdings (PWSC) reported strong financial results for Q4 and full year 2022, with total revenue increasing 10% year-over-year to $161.1 million in Q4, and 13% to $630.7 million for the full year. Notably, Adjusted EBITDA rose 59% to $52.8 million in Q4, exceeding outlook and representing 33% of total revenue. The company achieved a net loss of $3.2 million, an 80% improvement from the previous year. Annual Recurring Revenue (ARR) grew 11% to $596.2 million, with a Net Revenue Retention Rate of 109.1%. PowerSchool also plans to expand its international presence with a new office in Dubai in Spring 2023.

PowerSchool (NYSE: PWSC) has expanded its collaboration with REX Learning, providing Schoology Learning to an additional 9,000 students in the Philippines. This initiative now allows over 170,000 students across 330 schools to access enhanced educational tools, promoting improved learning outcomes and parental engagement. The expansion follows a successful initial rollout during the pandemic, highlighting the effectiveness of blended learning. REX Learning, a subsidiary of REX Digital Publishing, aims to foster comprehensive education solutions for various institutions, further cementing PowerSchool's role as a leader in K-12 education.

PowerSchool Holdings, Inc. (NYSE: PWSC), a leading provider of cloud-based K-12 education software, announced that President and CFO Eric Shander will present at the 44th Annual Raymond James Institutional Investors Conference in Orlando, Fla. on March 7, 2023, at 4:00 p.m. ET. A live webcast of the presentation will be accessible through PowerSchool’s Investor Relations website, with an archive available for 90 days post-event. The company serves over 45 million students globally and has more than 15,000 customers, including prominent districts in the U.S., highlighting its significant role in improving educational outcomes.

PowerSchool (NYSE: PWSC) has partnered with Corpus Christi Independent School District (CCISD) in Texas to implement Naviance, a career exploration tool that aims to enhance the percentage of graduates meeting the state's College, Career, and Military Readiness (CCMR) criteria. This integration allows CCISD to better align its career and technical education programs with student interests, while also providing insights to improve educational outcomes. CCISD serves nearly 33,000 students across 56 campuses, focusing on excellence in public education.

PowerSchool has partnered with the South Carolina Department of Education (SCDE) to implement its Unified Talent™ Professional Learning. This initiative aims to enhance personalized professional development for educators across South Carolina, fostering increased teacher effectiveness and student achievement. The platform offers flexible, 24/7 access to over 250 tailored courses aligned with South Carolina standards. With over 62,000 educators already utilizing this resource, SCDE intends to empower its staff to improve educational outcomes. PowerSchool serves over 45 million students globally and has established a significant presence in the K-12 education sector.