Skillsoft Corp. - SKIL STOCK NEWS

Skillsoft (NYSE: SKIL) has released its annual Lean Into Learning Report, showcasing a 37% year-over-year (YoY) increase in upskilling among its learners. Nearly 16 million badges were issued, reflecting a 25% YoY rise. The report highlights growing demand for leadership and technical skills, noting a 32% increase in leadership skill development and a 39% surge in technical skill acquisition. Compliance training also saw a 27% YoY increase. As organizations navigate a hybrid workforce, Skillsoft emphasizes the necessity of continuous learning.

Skillsoft (NYSE: SKIL) has enhanced its product suite with new offerings aimed at supporting technical learners at every stage of their career. The updates include upgraded features for Codecademy Pro and the introduction of Codecademy Plus, focused on upskilling and continuous career development. With projected job growth rates of 36% in data science and 25% in software development from 2021 to 2031, these enhancements aim to bridge the skills gap faced by many organizations. Codecademy’s offerings now feature assessments, professional certifications, and career services to help learners achieve job readiness.

Skillsoft (NYSE: SKIL) released its 2022 Corporate Social Responsibility (CSR) at Work Report, highlighting the increased investment in CSR, with 72% of organizations investing more than pre-pandemic levels. However, only 54% have a formal CSR plan. Key priorities include Diversity, Equity, and Inclusion (DEI) and fair trade, yet disaster relief ranks lowest. The report reveals a significant link between CSR investment and business growth, with 57% of participants reporting over 25% growth. The study engaged over 1,000 professionals, emphasizing the need for structured CSR approaches.

Skillsoft Corp. (NYSE: SKIL) reported its Q3 fiscal 2023 results, with total bookings of $133 million, down 9% year over year on a constant currency basis. The Global Knowledge segment saw bookings decrease by 16%, although the Content segment grew 5%. GAAP revenue dropped 1%, and a net loss of $528 million included a $571 million goodwill impairment charge. Despite these challenges, the company reaffirmed its full-year guidance, projecting bookings between $580 million and $615 million, and GAAP revenue between $520 million and $550 million.

Skillsoft Corp. (NYSE: SKIL) announced that CEO Jeffrey R. Tarr will present at the Barclays Global Technology, Media, and Telecommunications Conference on December 8, 2022, at approximately 4:55 p.m. ET. A live webcast of the presentation can be accessed via the Investor Relations section of the Skillsoft website, with a replay available for 90 days post-event. Skillsoft provides transformative learning experiences, aiding organizations in bridging skill gaps and enhancing workforce capabilities.

Skillsoft has been honored as the 2022 Training Partner of the Year in North America by AWS, recognizing its pivotal role in aiding cloud transformation through training in AWS skills and competencies. Announced at the AWS re:Invent 2022, this accolade highlights Skillsoft’s extensive offerings in cloud computing, data analytics, and cybersecurity. Additionally, a report indicates significant skills gaps in IT, with 66% of decision-makers reporting challenges in acquiring qualified talent in essential areas.

Skillsoft Corp. (NYSE: SKIL) will announce its fiscal 2023 third quarter financial results on December 6, 2022, after market close. A conference call and webcast will follow at 5:00 p.m. Eastern Time to discuss these results. Investors can access the call by dialing (877) 413-9278 in the U.S. or (215) 268-9914 internationally, with a live webcast available on the Investor Relations page. A replay will be accessible for six months.

Skillsoft (NYSE: SKIL) has released its 2022 IT Skills and Salary Report, highlighting critical challenges in the IT industry. The report, based on insights from nearly 8,000 professionals, reveals that 66% of IT decision-makers identify skills gaps, though this marks a 10% decrease from the previous year. A staggering 53% of IT staff are likely to seek new opportunities within the next year. Despite some improvements in training engagement, the report emphasizes the ongoing issues of talent turnover and the need for a cultural shift towards continuous learning and development in organizations.