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. reports developments in AI-native skills management, enterprise digital learning, and workforce training. Company updates focus on the Skillsoft Percipio platform, AI learning and skills-validation activity, CAISY simulator adoption, and learning programs across leadership, technology, compliance, and IT training services.
Recurring news also covers Talent Development Solutions results, fiscal earnings, analyst and market-recognition reports for digital learning, board governance changes, and NYSE continued-listing compliance disclosures. The company describes its platform as unifying learning, real-time skills intelligence, and workforce insights for enterprises building human and AI capabilities.
Skillsoft Corp. (NYSE: SKIL) has announced the release of its fiscal 2023 second quarter financial results on September 7, 2022, after market close. A conference call and webcast will follow at 5:00 p.m. Eastern Time on the same day to discuss these results. The call can be accessed via phone or through the company's Investor Relations website. Skillsoft focuses on global corporate digital learning, offering extensive learning solutions designed to bridge skill gaps and enhance workforce capabilities.
Cornerstone OnDemand has completed the acquisition of SumTotal, a provider of learning and human capital management SaaS, formerly part of Skillsoft (NYSE: SKIL). This strategic move aims to enhance Cornerstone’s capabilities in talent management and learning solutions, serving over 7,000 global customers. The merger creates a workforce of nearly 4,000 talent-focused employees and leverages data from over 90 million users to drive innovation and improve customer success. Cornerstone emphasizes its commitment to customer flexibility and a frictionless ecosystem for enhanced people growth.
Skillsoft (NYSE: SKIL) has announced a new integration with Coursera (NYSE: COUR) for Business, allowing joint customers to access Coursera's extensive library of over 5,000 courses and more than 10,000 bite-sized Clips directly through Skillsoft Percipio. This partnership aims to simplify learning for enterprises and enhance skilling experiences. According to recent research, 83% of decision-makers prioritize training and development but struggle to find comprehensive programs. The collaboration seeks to address these challenges while bolstering workforce development.
Skillsoft (NYSE: SKIL) has launched Career Journeys, a new offering within its Percipio platform designed to tackle skills gaps in enterprises. This innovative learning solution combines live and on-demand training, enabling employees to develop essential competencies for in-demand roles. Career Journeys offers a mix of content, hands-on labs, and instructor-led training, and targets crucial growth areas such as technology, business, and interpersonal skills. This initiative addresses the urgent talent shortage, positioning organizations for competitive advantage.
Cornerstone OnDemand has agreed to acquire SumTotal from Skillsoft (NYSE: SKIL), enhancing its learning and talent management software capabilities. This strategic move aims to serve a broader, diverse customer base, particularly in regulated industries. The acquisition follows Cornerstone's recent purchase of EdCast and is part of its strategy to develop a comprehensive platform for workforce development. Clearlake Capital, Cornerstone's backer, views this as a pivotal growth opportunity. The deal is expected to close in the second half of 2022, pending regulatory approvals.
Skillsoft Corp. (NYSE: SKIL) announced a definitive agreement to sell its SumTotal business to Cornerstone OnDemand for approximately $200 million in cash. This divestiture aims to align and simplify Skillsoft's portfolio, enhancing focus on its core business of transformative learning experiences. The transaction, expected to close in the second half of 2022, is projected to be accretive to Skillsoft’s bookings and revenue growth by approximately one percentage point at closing. In fiscal year 2022, SumTotal generated approximately $123 million in bookings and $120 million in revenue.
Skillsoft Corp. (NYSE: SKIL) reported a strong first quarter of fiscal 2023, with 22% growth in Skillsoft Content Segment bookings. Total GAAP revenue reached $164 million, up 79%, though the company recorded a net loss of $22 million. Adjusted revenue increased by 1% to $170 million, with adjusted EBITDA of $33 million. The dollar revenue retention rate for Skillsoft Content improved to 101%. However, the Global Knowledge segment faced declines due to macroeconomic challenges. The full-year revenue outlook is expected to trend towards the low end of guidance.
Skillsoft (NYSE: SKIL) has announced its achievement of Workday Cloud Connect for Learning Integration status. This advancement connects Skillsoft Percipio with Workday Learning, enhancing enterprise learning experiences. The integration allows Workday users to access Skillsoft’s extensive learning resources seamlessly. Key features include expertly curated learning paths, integrated multi-modal content, enhanced content discovery, automated maintenance, and advanced tracking. This partnership aims to drive learner engagement and administrative efficiency, addressing the critical need for on-demand training in today's economy.
Skillsoft Corp. (NYSE: SKIL) is set to announce its fiscal 2023 first quarter financial results on June 8, 2022, after market close. The Company will follow up with a conference call at 5:00 p.m. Eastern Time to discuss the results. Investors can join the call by dialing (877) 413-9278 in the U.S. and Canada or (215) 268-9914 internationally. The live webcast will be available on Skillsoft’s Investor Relations page. Skillsoft specializes in corporate digital learning, offering a comprehensive suite of solutions to meet the future demands of the workforce.
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.