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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 (NYSE: SKIL) has launched Skillsoft Compliance Suite, a new offering within its compliance training solution. The suite introduces Dynamic Content, allowing learning administrators to deliver risk-based training programs tailored to each employee's specific needs. This addresses the shortcomings of traditional one-size-fits-all compliance training.
Key features include:
- Personalized learning experiences based on employee 'risk profiles'
- Integration with Skillsoft Percipio platform
- Enhanced risk dashboards and analytics
- Expanded curriculum covering emerging topics like EU AI Act
- AI-powered learning with Skillsoft CAISY™
The suite aims to help organizations develop competencies for identifying and mitigating business risk, addressing the growing demand for flexible, risk-based learning approaches in an era of tighter budgets and increasing regulatory requirements.
Skillsoft (NYSE: SKIL), a leading platform for transformative learning experiences, has announced new employee inducement grants under NYSE Rule 303A.08. On August 28, 2024, the company's Compensation Committee granted restricted stock units (RSUs) covering 50,000 shares of Class A common stock to two new employees. Thomas Infantino, hired as Senior Vice President, Sales on June 24, 2024, received 25,000 RSUs. Tzetoslav Lakov, appointed as Chief Analytics Officer on July 29, 2024, also received 25,000 RSUs. Both grants vest ratably over four years, subject to continued employment. These awards were granted under Skillsoft's 2024 Employment Inducement Incentive Award Plan as material inducements for hiring.
Skillsoft (NYSE: SKIL), a leading platform for transformative learning experiences, has announced it will release its second quarter fiscal 2025 financial results after market close on Monday, September 9, 2024. The company will host a conference call and webcast to discuss the results on the same day at 5:00 p.m. Eastern Time.
Interested parties can access the conference call by dialing (877) 413-9278 from the United States and Canada, or (215) 268-9914 from international locations. A live webcast will be available on the Investor Relations page of Skillsoft's website at investor.skillsoft.com, with a replay accessible for six months following the event.
Skillsoft (NYSE: SKIL), a leading platform for transformative learning experiences, has appointed Jim Frankola and Fahd Beg to its Board of Directors, effective July 18, 2024. Frankola, a seasoned technology executive with over 30 years of leadership experience, previously served as CFO of Cloudera and is currently a director at Ansys, Inc. Beg is an Investment Partner at Prosus N.V., bringing expertise in technology and education.
The appointments come as Skillsoft aims to strengthen its go-to-market strategy, scale AI-powered learning experiences, and deliver greater value for customers and shareholders. Both new directors expressed enthusiasm for joining Skillsoft during a time of significant change in workplace skills and learning. Concurrently, Lawrence Illg, a board member since 2021, has stepped down from his position.
Skillsoft (NYSE: SKIL) hosted a virtual investor day where it outlined its future strategic priorities and financial goals. The company reiterated its commitment to value creation through a holistic talent development lifecycle approach, leveraging interactive, blended learning, and AI-centric solutions. Skillsoft updated its financial outlook for FY2025, predicting revenue between $510 million and $525 million, lower than previous estimates of $530 million to $550 million, but maintaining its adjusted EBITDA forecast of $105 million to $110 million. The company also set mid-term and long-term financial targets, including 5%-7% and 10%+ year-over-year revenue growth, respectively, and adjusted EBITDA margins between 23%-25% mid-term, and 28%-30% long-term. Additionally, Skillsoft announced a $10 million share repurchase program.
Skillsoft (NYSE: SKIL) has announced a collaborative initiative with Microsoft to develop a generative AI (GenAI) skilling program. Leveraging Skillsoft's AI Skill Accelerator, the program aims to enhance business productivity and innovation through AI tools such as Microsoft Copilot and Azure Open AI. The blended learning experience includes on-demand courses, personalized coaching, live Instructor-Led Training (ILT), and hands-on practice labs. An initial pilot reported 98% of learners were able to apply new skills immediately. The program progresses organizations through AI maturity phases in as few as 90 days, offering tools for assessing and developing AI-related skills across the workforce. Skillsoft's internal use of Copilot demonstrates potential efficiency and creativity gains. Microsoft's Jeana Jorgensen highlights the partnership's goal of enabling AI transformation across businesses.
Skillsoft Corp. (NYSE: SKIL) will hold a virtual Investor Day on July 11, 2024, starting at 9:00 a.m. ET. The event will feature presentations from Executive Chairman Ron Hovsepian and other executive leaders, highlighting the company's transformative learning platform. The presentations will be streamed live via webcast on Skillsoft’s Investor Relations website, and an archived version will be available later that day. A Q&A session is scheduled, where participants can submit questions during the live webcast. Registration for the event is open.
Skillsoft (NYSE: SKIL) reported its Q1 FY 2025 results, ending April 30, 2024. Key highlights include a Content & Platform Dollar Retention Rate of around 99%, positive free cash flow of $10 million, and reaffirmed full-year financial outlook. The company achieved Workday Certified Integration Status and launched AI-powered Interactive Skill Benchmarks. Financially, total GAAP revenue was $128 million, down 6% year-over-year. GAAP net loss improved to $28 million from $44 million, and adjusted net loss per share improved to $3.37 from $3.68. Adjusted EBITDA was $19 million, down from $22 million. The company ended the quarter with $150 million in cash and equivalents. Skillsoft announced a Virtual Investor Day on July 11, 2024.
Skillsoft Corp. (NYSE: SKIL) announced that on June 4, 2024, its Compensation Committee granted 40,000 restricted stock units (RSUs) to Darren Bance, newly appointed General Manager of Skillsoft Global Knowledge. This grant is a material inducement under the Skillsoft Corp. 2024 Employment Inducement Incentive Award Plan.
The RSUs will vest over four years: 75% ratably over this period, and 25% based on both time- and performance-based conditions. This grant was made in accordance with NYSE Rule 303A.08, which mandates public disclosure of such awards.
Skillsoft (NYSE: SKIL) has appointed Darren Bance as the new General Manager of its Global Knowledge Business. Bance has over 25 years of leadership experience in technical education and skilling initiatives. The company believes his expertise will drive growth and innovation, especially in instructor-led training offerings. Bance previously served as COO of QA and held leadership roles at Capita Group, ShiftPoint ME, and Restrata His appointment underscores Skillsoft's commitment to enhancing live learning experiences as technological advancements reshape professional development.
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