Corporate digital learning company Skillsoft has reported a net loss of $113 million for its 2022 fiscal year ending 31 January 2022.

Its revenue for the year was $698 million, up from 1% on revenue reported for the prior year.

The Nashua, New Hampshire-based company also reported results for the fourth quarter of its 2022 financial year ending 31 January 2022. Its GAAP net income was $8 million and its GAAP revenue was $166 million.

Jeffrey R Tarr, Skillsoft’s chief executive, said: “We had a great finish to a monumental year for the new Skillsoft, helping us deliver full-year bookings growth of 7%, exceeding guidance and putting the company on a solid growth trajectory. We exited the year with strong momentum, which we believe positions us well to deliver solid bookings, accelerated revenue growth, and industry-leading profitability in fiscal 2023.

“Since returning Skillsoft to the public market in June, we moved extremely fast in setting the company up for success as we recapitalised our balance sheet, assembled a world-class management team and board of directors, closed three acquisitions, made foundational growth investments, and delivered strong fiscal 2022 results. I want to thank our entire team for their tireless efforts during a period of tremendous change as we formed the new Skillsoft and positioned the company to extend our lead in corporate digital learning.”

Date published: 7 April 2022

Continue reading

Subscribe to get unlimited digital access.

Subscribe

Already a subscriber? Login