Skillsoft Corp - SKIL STOCK NEWS

DigitalOcean Holdings, a leading cloud provider for SMBs, has appointed Nancy S. Coleman as the new Senior Vice President of Corporate Communications. Reporting directly to CEO Yancey Spruill, Coleman will manage both internal and external communications, enhancing the company's brand narrative. Her extensive background includes a prior role at Skillsoft and key positions at Maxar Technologies and DigitalGlobe. CEO Spruill expressed optimism over Coleman's capabilities, highlighting her potential to accelerate DigitalOcean's growth towards its first $1 billion in revenue. DigitalOcean focuses on simplifying cloud computing for small and medium-sized businesses, aiming to foster innovation and growth.

Skillsoft Corp. (NYSE: SKIL) reported a GAAP revenue of $555 million for fiscal year 2023, beating full-year revenue outlook. The company achieved a 5% growth in Skillsoft Content segment bookings year-over-year in constant currency. In the fourth quarter, GAAP revenue reached $140 million, a 3% increase year-over-year, despite a net loss of $53 million. Adjusted EBITDA stood at $22 million, with a 16% margin. The Global Knowledge segment faced challenges, with bookings down 13% year-over-year but showing a 2% sequential growth. The company has established a strong position in technical skills training through the acquisition of Codecademy and remains optimistic for fiscal 2024, projecting bookings of $610 million to $640 million.

Skillsoft (NYSE: SKIL) has released its 2023 Women in Tech Report, revealing significant gender disparities in technology roles. The report highlights that 45% of female technologists feel outnumbered by men in their workplaces, doubling from 25% in 2021. At executive levels, only 4% of women hold such positions compared to 15% for men. Job satisfaction among women has declined to 28%, down from 44% in 2021, with many considering leaving due to inadequate growth opportunities and pay. Despite these challenges, 92% value professional development, with many pursuing leadership certifications. The report underscores the urgency for equity and career advancement support in tech.

Skillsoft (NYSE: SKIL) is set to release its fiscal 2023 fourth quarter and full-year financial results on April 11, 2023, after market close. A conference call and webcast will take place at 5:00 p.m. Eastern Time to discuss the results. Investors can access the call by dialing (877) 413-9278 within the U.S. and Canada or (215) 268-9914 internationally. The live webcast will be available on the Investor Relations page of Skillsoft’s website, with a replay accessible for six months. Skillsoft aims to deliver transformative learning experiences, helping organizations grow their workforce capabilities.

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.