Skillsoft Corp after Monday’s close announced second quarter fiscal 2024 revenue of $141 million, surpassing the Zacks Consensus Estimate of $139.88 million.
The transformative learning experiences platform’s loss per share for the period, meanwhile, improved to $0.20 from a $0.74 deficit a year earlier, but fell short of the analyst forecast for an $0.18 loss.
“Skillsoft executed well in the quarter, delivering improved top-line performance with growth in both Bookings and Revenue,” Skillsoft CEO Jeffrey Tarr said in a statement.
“In our primarily SaaS-based Content & Platform segment, Bookings increased 7%, Revenue growth accelerated to 4%, and LTM (Last Twelve Month) Dollar Retention Rate came in at 101%, up from 98% in the year-ago period, driven by our investments in platform, content and go-to-market,” he added.
The company ended the quarter with $148 million in cash and cash equivalents as of July 31, 2023.
As well, Skillsoft reaffirmed its financial outlook for the full-year fiscal 2024, seeing revenue of $555 million to $585 million along with adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $100 million to $105 million.
Shares of Skillsoft added 1.6% in Monday’s after-hours session but have fallen 14% year to date.
Contact Sean at sean@proactiveinvestors.com