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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) released its Lean Into Learning: 2021 Annual Learning Report, revealing a 55% year-over-year increase in users on the Percipio platform and a 45% rise in total hours of learning. The report highlights significant challenges for organizations, including navigating remote work and a growing skills gap. A survey indicated that 83% of decision-makers prioritize training and development. Notably, there was a 120% increase in compliance learning and a growing interest in security content.
Skillsoft (NYSE:SKIL) has announced an agreement to acquire Codecademy for approximately
Skillsoft Corp. (NYSE: SKIL) reported solid third quarter results for fiscal 2022, exceeding expectations with a 7% growth in total bookings and a 6% increase in adjusted revenue to $179 million. The company raised its full-year outlook for bookings to $700-$720 million and adjusted revenue to $685-$700 million, primarily driven by strong performance across all segments. Despite a GAAP net loss of $43 million, the adjusted EBITDA stood at $49 million. Skillsoft's migration to its Percipio platform is progressing, with 86% of annual recurring revenue now on Percipio.
Skillsoft (NYSE: SKIL) has announced a content partnership with Udemy Business (NASDAQ: UDMY), integrating Udemy's courses into Skillsoft’s Percipio platform. This aims to enhance enterprise learning by providing a unified space for advanced skill development. With 76% of IT decision-makers facing skills gaps and IDC forecasting that skill shortages will cost $6.5 trillion by 2025, the partnership addresses urgent workforce training needs. Skillsoft's acquisition of Global Knowledge in 2021 has further expanded its offerings, allowing organizations to customize learning paths.
Skillsoft Corp. (NYSE: SKIL) will report its fiscal 2022 third quarter financial results on December 14, 2021, after market close. A conference call and webcast will take place at 5:00 p.m. Eastern Time on the same day to discuss these results. The call can be accessed at (877) 413-9278 from the US and Canada or (215) 268-9914 internationally. A live webcast will be available on the Investor Relations page of Skillsoft’s website. Skillsoft specializes in corporate digital learning solutions aimed at enhancing workforce skills for future challenges.
Skillsoft (NYSE:SKIL) has released the Global Knowledge IT Skills and Salary Report for 2021, revealing critical IT skills gaps affecting productivity and increasing employee stress. The report shows that 76% of IT decision-makers report significant skills shortages, reflecting a 145% increase since 2016. Key drivers include rapid technology changes (38%), challenges in attracting talent (35%), and insufficient training resources (32%). The financial impact is estimated to reach $6.5 trillion globally by 2025. Organizations investing in training report improved employee engagement and performance.
Skillsoft Corp. (NYSE: SKIL) has appointed Kristi Hummel as Chief People Officer. With over 25 years of HR experience in global tech firms, she aims to enhance talent acquisition and retention strategies. CEO Jeffrey R. Tarr expresses confidence in her ability to strengthen the company’s leadership culture and advance its growth strategies. Hummel, previously at Dell Technologies, is expected to support Skillsoft's mission in corporate digital learning, addressing the skills gap and evolving workplace demands.
Skillsoft Corp. (NYSE: SKIL) announces its sponsorship of the 2022 EllevateHER Forward Fellowship Program, aimed at supporting women impacted by COVID-19. The initiative, launched by Ellevate Network, offers access to resources for career advancement for women+, including 250 fellows who will receive Skillsoft's Percipio learning platform access. The program responds to significant job losses among women during the pandemic and promotes reskilling efforts to aid their return to the workforce. Applications for the fellowship will open mid-next year.
Skillsoft Corp (NYSE: SKIL) has launched the Skillsoft Percipio for Microsoft Teams App, enhancing collaborative learning experiences for enterprises. This development comes amid the shift in employee learning preferences due to COVID-19. The platform allows users to engage with learning materials and share insights seamlessly within Microsoft Teams, addressing long-standing skills gaps. Skillsoft aims to empower organizations to bridge these gaps by providing easy access to valuable resources directly in their workflow, boosting productivity and engagement.
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