Skillsoft Corp Stock Price, News & Analysis

Skillsoft Corp. (NYSE: SKIL) reported its Q3 fiscal 2023 results, with total bookings of $133 million, down 9% year over year on a constant currency basis. The Global Knowledge segment saw bookings decrease by 16%, although the Content segment grew 5%. GAAP revenue dropped 1%, and a net loss of $528 million included a $571 million goodwill impairment charge. Despite these challenges, the company reaffirmed its full-year guidance, projecting bookings between $580 million and $615 million, and GAAP revenue between $520 million and $550 million.

Skillsoft Corp. (NYSE: SKIL) announced that CEO Jeffrey R. Tarr will present at the Barclays Global Technology, Media, and Telecommunications Conference on December 8, 2022, at approximately 4:55 p.m. ET. A live webcast of the presentation can be accessed via the Investor Relations section of the Skillsoft website, with a replay available for 90 days post-event. Skillsoft provides transformative learning experiences, aiding organizations in bridging skill gaps and enhancing workforce capabilities.

Skillsoft has been honored as the 2022 Training Partner of the Year in North America by AWS, recognizing its pivotal role in aiding cloud transformation through training in AWS skills and competencies. Announced at the AWS re:Invent 2022, this accolade highlights Skillsoft’s extensive offerings in cloud computing, data analytics, and cybersecurity. Additionally, a report indicates significant skills gaps in IT, with 66% of decision-makers reporting challenges in acquiring qualified talent in essential areas.

Skillsoft Corp. (NYSE: SKIL) will announce its fiscal 2023 third quarter financial results on December 6, 2022, after market close. A conference call and webcast will follow at 5:00 p.m. Eastern Time to discuss these results. Investors can access the call by dialing (877) 413-9278 in the U.S. or (215) 268-9914 internationally, with a live webcast available on the Investor Relations page. A replay will be accessible for six months.

Skillsoft (NYSE: SKIL) has released its 2022 IT Skills and Salary Report, highlighting critical challenges in the IT industry. The report, based on insights from nearly 8,000 professionals, reveals that 66% of IT decision-makers identify skills gaps, though this marks a 10% decrease from the previous year. A staggering 53% of IT staff are likely to seek new opportunities within the next year. Despite some improvements in training engagement, the report emphasizes the ongoing issues of talent turnover and the need for a cultural shift towards continuous learning and development in organizations.

Skillsoft Corp. (NYSE: SKIL) announces the appointment of Richard Walker as Chief Financial Officer, effective October 28, 2022. He replaces Gary Ferrera, who will assist during the transition until December 2022. Walker brings extensive financial experience from previous roles at IHS and ServiceSource and will continue overseeing corporate strategy. The company reaffirms its fiscal 2023 outlook, indicating that the CFO transition does not impact financial performance.

Skillsoft Corp. (NYSE: SKIL) announced its Q2 fiscal 2023 results, highlighting a 27% increase in GAAP revenue to $140.6 million. Subscription content bookings grew by 5%, marking the fifth consecutive quarter of growth. However, the Global Knowledge segment saw a significant 21% decline in bookings. The board authorized a $30 million share repurchase, reflecting confidence in the company's strategy. The outlook was revised down due to decreased fundamentals and macroeconomic uncertainty, projecting adjusted revenue between $545 million and $580 million for the fiscal year.

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.