Skillsoft Corp. - SKIL STOCK NEWS

Skillsoft Corp. (NYSE: SKIL) reported a 7% growth in bookings for fiscal year 2022, exceeding previous guidance. The company posted a GAAP revenue of $665 million despite a net loss of $113 million. The fourth quarter showed a 5% increase in bookings, with GAAP revenue at $166 million and adjusted EBITDA rising 24% to $36 million. Looking ahead, Skillsoft expects adjusted revenue between $765 million and $790 million and bookings of up to $825 million for fiscal 2023, signaling strong growth expectations.

Skillsoft Corp. (NYSE: SKIL) has successfully acquired Codecademy, a leading online learning platform focused on technical skills. This acquisition aims to enhance Skillsoft's offerings by providing scalable, interactive courses across 14 coding languages, cloud, cybersecurity, and data science. The move is projected to be immediately accretive to bookings, revenue growth, and gross margins. The integration will enable Skillsoft to address critical technical skills gaps in a global workforce exceeding 90 million learners.

Skillsoft (NYSE: SKIL) has launched Skill Benchmark Assessments, a new feature in its Percipio learning platform. This capability allows organizations to evaluate employees' skills in key areas like technology and leadership, addressing critical skill gaps revealed by recent research. With 83% of companies reporting workforce skill gaps, Skillsoft's assessments provide personalized learning paths to expedite skill acquisition. The program employs a criterion-based approach, offering insights into individual and organizational skill levels, thereby enhancing workforce development.

Skillsoft Corp. (NYSE: SKIL) announced the commencement of a $160 million senior secured incremental term loan B facility syndication to fund its acquisition of Codecademy. This acquisition aims to enhance Skillsoft's digital learning offerings in the high-growth Technology & Developer segment, capitalizing on Codecademy's substantial user base. The deal is expected to close in April 2022 and is projected to be accretive to Skillsoft's bookings, revenue growth, and gross margin. The updated fiscal outlook for 2022 includes bookings of $716 million to $721 million and adjusted revenue of $693 million to $698 million.

Skillsoft Corp. (NYSE: SKIL) will announce its fiscal 2022 Q4 and full-year financial results on April 6, 2022, after market close. The company will discuss these results during a conference call at 5:00 p.m. Eastern Time on the same day. Investors can access the call by dialing (877) 413-9278 from the U.S. or (215) 268-9914 internationally, and through a live webcast on the company's Investor Relations page. A replay will be available for six months.

Skillsoft Corp. (NYSE: SKIL) has achieved Federal Risk and Authorization Management Program (FedRAMP) authorization for its learning platform, Percipio. This authorization allows Percipio to be included in the federal government's online portal of approved cloud services, enhancing its appeal to government agencies addressing skill gaps. Apratim Purakayastha, CTO of Skillsoft, emphasized that Percipio's modern interface boosts learner engagement significantly. Users of Percipio have reportedly experienced a 56% increase in participation and a 4.5x rise in content access.

Skillsoft (NYSE: SKIL) has launched a strategic partnership with iamtheCODE, an African-led initiative aimed at training 1 million women and girls in coding by 2030. The collaboration will introduce a digital learning platform in Africa's largest refugee camps, providing access to essential programming languages such as HTML, CSS, JavaScript, and Python. This initiative supports the UN Sustainable Development Goals and highlights Skillsoft's commitment to social impact through education in underserved communities.

Skillsoft (NYSE: SKIL) announced that its subsidiary, SumTotal Systems, has achieved the Strategic Leader position in the Fosway 9-Grid™ for Learning Systems 2022, moving up from Strategic Challenger in 2021. This recognition reflects SumTotal's commitment to customer success and its innovative learning-centric talent development platform. Additionally, Skillsoft advanced to the Core Leader position in the same report. SumTotal was also recently highlighted as a Strong Performer in The Forrester Wave™ Learning Management Systems Q4 2021.