Skillsoft Corp Stock Price, News & Analysis

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.

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.

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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.