Skillsoft Corp. (SKIL) stock is up 4.50% in the after-hours trading session at the price of $10.45 after the release of financial results for the second quarter of fiscal 2022. Skillsoft is a leading corporate digital learning platform. It presents enterprise learning solutions to support organizations to overcome critical skill gaps and unlock their potential. The company serves customers from over 160 countries and has approximately 45 million learners globally.
Fiscal 2022 Second Quarter Financial Results and Full-Year Guidance
On 14th September 2021, SKIL stock published its second-quarter financial results for fiscal 2022 ended 31st July 2021. The company also adjusted its full-year revenue guidance as the second-quarter results beat its expectations. CEO of SKIL, Jeffrey R. Tarr, remarked that they observed strong performance during their initial quarter. They have gained double-digit bookings growth, won multiple new blue-chip customers, and received fast-growing digital coaching platform Pluma. They have a substantial opportunity to expand their leadership in the rapidly growing and highly fragmented corporate learning industry. Their leadership team is performing well against their strategic priorities. They are well-positioned to provide significant value to their customers and stakeholders, he added.
Fiscal 2022 Second Quarter Financial Highlights
GAAP revenue in the second quarter ended on 31st July 2021 was $106 million. GAAP net loss of $49 million, reported for this period. SKIL stock reported substantial bookings growth across all three business segments for its second quarter of fiscal 2022. The content growth increased 9%, the Global Knowledge was increased by 30%, and SumTotal was 15% high. The combined bookings of Content and Global Knowledge increased 19%, and total bookings were 18% up. Adjusted revenues during this quarter were $176 million, representing a growth of 5%. The reported adjusted EBITDA was $43 million, an increase of 2%. Weighted average shares outstanding were 133,059,021 during the period from 12th June 2021 to 31st July 2021.
SKIL Stock Disclosed Annual Top-Paying Certifications List
On 17th August 2021, SKIL stock published its annual Global Knowledge 15 Top-Paying Certifications List. The list unveiled the most demanded skills and technology areas for organizations and their associated average salaries. The listed certifications are approved by industry leaders like AWS, Cisco, Google Cloud, ISACA, and Microsoft. The general manager of SKIL, Michael Yoo, commented that technology is as powerful as the capabilities of the trained people. Certifications are a great way to infuse vital skills into an organization while raising employee productivity and investing in professional development.