Skillsoft Shares Fall on Outlook Cut, Lower 2Q Revenue

Dow Jones05:43
 

Shares of Skillsoft fell after the company cut its outlook and reported lower revenue in the second quarter.

Shares tumbled 12% to $5.62 in after-hours trading, after closing down 4.5% at $6.37. Through the close, the stock had fallen 32% this year.

The education-software company on Wednesday said it now expects revenue in fiscal 2027 of between $380 million and $390 million. It previously guided for a range of $388 million to $406 million.

"Our enterprise business continues to perform as planned, while accelerating pressure in the consumer business is reflected in our revised fiscal 2027 revenue outlook," Chief Financial Officer Ron Kisling said.

The guidance cut came as Skillsoft reported a loss from continuing operations of $15 million, or $1.67 a share, compared with a loss of $18 million, or $2.10 a share, a year earlier.

Including the company's Global Knowledge segment, which it classifies as held for sale and discontinued operations, Skillsoft reported a loss of $42.4 million, or $4.71 a share, compared with a loss of $23.8 million, or $2.78 a share, a year earlier.

Stripping out certain one-time items, adjusted earnings were $1.17 a share.

Revenue fell to $98.2 million, down from $101.2 million a year prior.

 
 

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