Skillsoft (SKIL) Gains Following Strong Q2 Results and Raised Full-Year Guidance

September 14, 2021 5:16 PM EDT
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Price: $10.51 +0.10%

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Skillsoft (NYSE: SKIL) shares were trading 5% higher after-hours following the company’s reported Q2 results, with total bookings growing 18% and Percipio Bookings growing 47%, which highlights new product momentum and successful platform migration.

The company, which reports its first quarterly earnings as a public company, delivered strong bookings growth across all three business segments, with Content growing 9%, Global Knowledge growing 30%, and SumTotal growing 15%.

The quarterly EPS came in at ($0.28) and revenue at $57.9 million for the succeeding company.

Jeffrey R. Tarr, CEO of Skillsoft, said that the company is pleased with the strong quarterly performance, highlighting the acquisition of a digital coaching platform Pluma for $22 million, which enables the company to offer an on-demand, executive-quality leadership development solution to its customers.

The company raised its full 2022-year outlook, expecting bookings to range from $690 million to $710 million (vs. prior $660 million to $690 million) and Adjusted Revenue to range from $670 million to $690 million (vs. prior $645 million to $675 million).

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