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Skillsoft Corp. - SKIL STOCK NEWS

Welcome to our dedicated page for Skillsoft news (Ticker: SKIL), a resource for investors and traders seeking the latest updates and insights on Skillsoft stock.

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.

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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.

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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.

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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.

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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.

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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.

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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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Skillsoft (NYSE: SKIL), a prominent platform for transformative learning experiences, will release its first quarter fiscal 2025 financial results after market close on June 10, 2024.

A conference call and webcast to discuss the results will take place on the same day at 5:00 p.m. ET.

Interested parties in the United States and Canada can join the call by dialing (877) 413-9278, while international participants can use (215) 268-9914.

The webcast will be available on Skillsoft’s Investor Relations page, with a replay accessible for six months.

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Skillsoft (NYSE: SKIL) has achieved Workday Certified Integration Status, connecting its learning platform with Workday HCM and Workday Skills Cloud. This integration offers a skills-based approach to learning, career development, and talent optimization, addressing critical skills gaps identified by decision-makers. The collaboration enables organizations to have a comprehensive view of their workforce's skills, delivering impactful talent development programs and enabling tailored learning experiences.

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Skillsoft launched Interactive Skill Benchmarks (ISBs), a new capability in their Skill Benchmarks suite, aimed at addressing skills gaps in organizations. ISBs provide hands-on skill assessments focusing on practical application, helping organizations align skills with business needs. The first set of ISBs covers technology subjects like AI, programming, and data science, with plans for future expansions. Key features include interactive virtual environments, outcome-oriented assessments, personalized feedback, and comprehensive dashboards for skills tracking.

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Skillsoft has been recognized as a 'Leader' in enterprise learning by industry analyst firms Constellation Research, Aragon Research, and Fosway Group. This acknowledgement highlights Skillsoft's commitment to innovation, extensive learning offerings, and customer satisfaction. The company's dynamic and interactive learning experiences are praised, positioning Skillsoft as a forefront provider of transformative learning solutions.
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FAQ

What does Skillsoft Corp. do?

Skillsoft Corp. specializes in corporate digital learning, offering learning management system software and content across various professional fields.

What are the main segments of Skillsoft's business?

Skillsoft operates through two main segments: Content & Platform and Instructor-Led Training.

What areas does the Content & Platform segment cover?

The Content & Platform segment covers Leadership and Business, Technology and Developer, and Compliance.

What is the focus of Skillsoft's Instructor-Led Training segment?

The Instructor-Led Training segment focuses on providing training solutions to enhance information technology and business skills.

How does Skillsoft generate most of its revenue?

Most of Skillsoft's revenue comes from the Content & Platform segment.

What recent achievements has Skillsoft made?

Skillsoft has formed strategic partnerships and launched new learning platforms to enhance its digital learning offerings.

What is the financial condition of Skillsoft Corp.?

Skillsoft maintains a stable financial condition, primarily generating revenue from its Content & Platform segment.

Why is Skillsoft a key player in the corporate learning industry?

Skillsoft's innovation, extensive course library, and focus on quality education position it as a leader in corporate learning.

What kind of learning experience does Skillsoft provide?

Skillsoft offers a dynamic and immersive learning experience by combining instructor expertise with advanced technology.

Who benefits from Skillsoft's services?

Corporations and their employees benefit from Skillsoft's learning solutions aimed at professional development and skill enhancement.

Skillsoft Corp.

NYSE:SKIL

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SKIL Stock Data

129.94M
8.18M
8.78%
73.25%
3.6%
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