Skillsoft Corp Stock Price, News & Analysis

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.

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 $525 million in cash and stock. This acquisition aims to enhance Skillsoft's Technology & Developer Business by leveraging Codecademy's platform, which has around 40 million users and offers courses in 14 programming languages. The deal is expected to be immediately accretive to revenue and bookings growth, delivering about $42 million in revenue for the calendar year ending December 31, 2021.

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.