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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 (NYSE: SKIL), a leading platform for transformative learning experiences, has appointed Jim Frankola and Fahd Beg to its Board of Directors, effective July 18, 2024. Frankola, a seasoned technology executive with over 30 years of leadership experience, previously served as CFO of Cloudera and is currently a director at Ansys, Inc. Beg is an Investment Partner at Prosus N.V., bringing expertise in technology and education.
The appointments come as Skillsoft aims to strengthen its go-to-market strategy, scale AI-powered learning experiences, and deliver greater value for customers and shareholders. Both new directors expressed enthusiasm for joining Skillsoft during a time of significant change in workplace skills and learning. Concurrently, Lawrence Illg, a board member since 2021, has stepped down from his position.
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.
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.
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.
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.
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.
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.
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.
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.
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.