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Skillsoft Corp. (symbol: SKIL) is a leading American educational technology company that specializes in corporate digital learning. It offers a robust suite of learning management system software and content designed to enhance employee education and development. The company operates through two main segments: Content & Platform and Instructor-Led Training.
The Content & Platform segment is the core of Skillsoft's business, focusing on the sale, marketing, and delivery of comprehensive learning solutions. These solutions cover key areas including Leadership and Business, Technology and Developer, and Compliance. This segment generates the majority of the company's revenue, highlighting its pivotal role in Skillsoft's operations.
On the other hand, the Instructor-Led Training segment offers specialized training solutions aimed at enhancing information technology and business skills for corporations and their employees. By blending instructor expertise with Skillsoft's technology, the company provides a dynamic and immersive learning experience.
Skillsoft continues to make significant strides in the digital learning space with recent achievements including strategic partnerships and the launch of new learning platforms. The company's dedication to providing top-notch educational content is evident in its extensive library of courses and resources that cater to a wide range of professional development needs.
Financially, Skillsoft demonstrates a stable condition with consistent revenue generated primarily from its Content & Platform segment. The company's focus on innovation and quality education positions it as a key player in the corporate learning industry, making it a valuable resource for companies aiming to upskill their workforce.
Skillsoft Corp. (NYSE: SKIL) has introduced new features and content on its Percipio platform, offering users 30 days of free access. This move aims to address the growing skills gaps in the workforce amid significant shifts towards digital and remote work environments. The launch includes enhanced upskilling initiatives and a wide range of courses in cloud, cybersecurity, and leadership skills. Following its acquisition of Global Knowledge in June 2021, Skillsoft now provides access to nearly 28,000 instruction hours and has aligned its offerings with major tech partners like Microsoft and AWS.
Skillsoft Corp. (NYSE: SKIL) reported strong Q2 2022 results with total bookings growing 18%, driven by Content up 9%, Global Knowledge up 30%, and SumTotal up 15%. Adjusted revenue reached $176 million, a 5% increase, while GAAP revenue was $106 million. The company acquired Pluma for $22 million to enhance digital coaching offerings. Skillsoft raised its full-year guidance for bookings to $690-710 million and adjusted revenue to $670-690 million. However, it noted delays in realizing synergies from its business combination and higher insurance costs, maintaining its adjusted EBITDA outlook.
Skillsoft Corp. (NYSE: SKIL) will report its financial results for the fiscal 2022 second quarter, ending July 31, 2021, on Tuesday, September 14, 2021, after market close. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss these results. Interested parties can access the call through specific dial-in numbers or via the company's Investor Relations website. Skillsoft specializes in corporate digital learning, offering a diverse range of learning solutions aimed at bridging skill gaps and enhancing workforce engagement.
Skillsoft (NYSE: SKIL) has announced its annual Global Knowledge 15 Top-Paying Certifications List, highlighting in-demand skills and associated average salaries. Cybersecurity and cloud certifications dominate the list, both crucial for risk management in organizations. Data shows 76% of IT decision-makers face skills gaps, impacting recruitment and productivity. The list, based on a survey of over 3,700 IT professionals, indicates that the highest salaries exceed $150,000, with ITIL® Foundation being the most held certification. Skillsoft aims to bridge the global skills gap through targeted learning solutions.
Skillsoft Corp. (NYSE: SKIL) appointed Gary W. Ferrera as Chief Financial Officer and Eric Boyer as Senior Vice President of Investor Relations, effective September 20, 2021, and in Q4 2021, respectively. Ferrera, a seasoned finance executive with 30 years of experience, previously served as CFO of Cardtronics. Boyer brings nearly 20 years of IR experience from IHS Markit. Both appointments aim to strengthen Skillsoft's leadership in digital learning and enhance shareholder engagement. Skillsoft serves 70% of the Fortune 1000 and operates in over 160 countries.
Skillsoft Corp. (NYSE: SKIL) has successfully completed a $480 million debt refinancing, reducing its long-term debt by $130 million. The refinancing includes a new senior secured term loan B facility with an interest rate reduction of 300 basis points and an extension of maturity from 2025 to 2028. This move will decrease annual interest payments by approximately $25 million, enhancing Skillsoft's financial flexibility and free cash flow for growth initiatives. The company now holds $480 million in long-term debt.
Skillsoft Corp. (NYSE: SKIL) has acquired Pluma, Inc. for approximately $22 million in cash. This acquisition enhances Skillsoft's leadership development portfolio and introduces individualized coaching. Pluma's platform focuses on personalized coaching solutions, addressing the growing demand for leadership development in a digital economy. With a global network of executive coaches, Pluma will be integrated into Skillsoft's Percipio platform, expanding access to coaching for a wider audience. Skillsoft aims to utilize this acquisition to accelerate growth and improve client engagement.
Skillsoft Corp. (NYSE: SKIL) has initiated marketing for refinancing a significant portion of its long-term debt, aimed at reducing interest expenses and enhancing free cash flow. This move is expected to provide increased financial flexibility for growth through acquisitions and extend maturity on obligations. In other news, Skillsoft announced a new fiscal year-end of January 31, aligning with its recent business combinations. For the first fiscal quarter ended April 30, 2021, order intake for the Skillsoft Content Business grew by 9%, indicating positive momentum and confidence in meeting fiscal 2022 guidance.
Skillsoft Corp. (NYSE: SKIL) has completed its business combination with Churchill Capital Corp II and acquired Global Knowledge as of June 11, 2021. The pro-forma balance sheet shows gross debt of $584.4 million and cash of $259.8 million post-transaction, with 133,059,021 shares of class A common stock outstanding. Skillsoft affirms its financial outlook for the fiscal year ending January 31, 2022, indicating performance aligns with previous guidance.
Skillsoft Corp. (NYSE: SKIL) announced its common stock began trading on the New York Stock Exchange following the completion of its merger with Churchill Capital Corp II and Global Knowledge on June 11, 2021. Skillsoft aims to be a leader in corporate digital learning, serving 70% of the Fortune 1000 and over 45 million learners globally. The company highlights a recurring revenue model, strong cash flow, and significant growth opportunities in the $28 billion digital learning market. A $500 million strategic equity investment from Prosus underscores investor confidence in Skillsoft’s future.
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