Skillsoft Corp. SKIL
We were originally incorporated in Delaware on April 11, 2019 under the name "Hornblower Acquisition Corp." Our name was changed to "Churchill Capital Corp II" on June 26, 2019, and to Skillsoft Corp. on June 11, 2021 (upon completion of our business combination with Software Luxembourg Holding S.A.).
Skillsoft® provides a skills management platform and associated learning solutions that are designed to help organizations manage the human and artificial intelligence ("AI") skills lifecycle, including visibility into the skills they have and the skills they need, closing skills gaps, matching skills to work, and understanding how skills development impacts business performance.
Organizations are operating in an environment characterized by rapid technological change, including the adoption of AI. While AI systems can generate information and automate tasks, we feel that enterprises benefit from structured systems to develop, measure, and govern both human and AI-enabled capabilities within controlled environments. We believe that this shift is increasing demand for integrated platforms that extend beyond content delivery to provide skills visibility, benchmarking, and workforce alignment.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- United States
- Emea
- Other Americas
- Asia Pacific
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| United States | $330.0M | $347.9M | $363.7M |
| Emea | $135.7M | $134.6M | $140.7M |
| Other Americas | $25.6M | $26.0M | $28.5M |
| Asia Pacific | $21.3M | $22.4M | $20.3M |
As the company reported it, from the “Note 17 - Revenue - Disaggregated Revenue and Geography Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $512.7M | $531.0M | $553.2M | $555.1M | — | — | $365.6M | — |
| Cost of revenue | $134.6M | $134.9M | $153.2M | $152.0M | — | — | $46.9M | — |
| Gross profit | $378.0M | $396.1M | $400.1M | $403.1M | — | — | $318.8M | — |
| R&D | $55.6M | $60.8M | $68.0M | $69.8M | — | — | $41.6M | — |
| SG&A | $80.6M | $92.4M | $95.9M | $109.6M | — | — | $54.0M | — |
| Total operating expenses | $602.2M | $600.6M | $861.9M | $1.36B | — | $2.9M | $650.0M | — |
| Operating income | -$89.5M | -$69.6M | -$308.6M | -$804.1M | — | -$906.9K | -$284.3M | — |
| Interest expense | $58.5M | $63.5M | $65.3M | $53.5M | — | — | $5.7M | — |
| Pre-tax income | -$153.5M | -$127.6M | -$364.9M | -$831.0M | — | -$72.0M | -$719.0M | — |
| Income tax | $13.7M | $5.7M | $16.3M | $41.0M | — | $486.8K | $11.8M | — |
| Net income | -$139.8M | -$121.9M | -$349.3M | -$725.0M | — | -$72.5M | -$849.2M | — |
| EPS, basic | -16.27 | -14.87 | -43.38 | -91.26 | — | -0.84 | -8,483.57 | — |
| EPS, diluted | — | — | — | — | — | -0.84 | -8,483.57 | — |
| Shares, diluted (wtd. avg.) | 8.6M | 8.2M | 8.1M | 7.9M | — | 17.2M | 100,100 | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $100.8M | $100.8M | $146.5M | $177.6M | $120.4M | $92.0M | $2.2M | $30.5M |
| Receivables | $175.0M | $179.0M | $185.6M | $183.6M | $173.9M | $74.3M | — | — |
| Total current assets | $333.0M | $332.9M | $385.3M | $405.7M | $427.2M | $205.1M | $2.5M | — |
| Property, plant and equipment | $3.1M | $3.2M | $6.6M | $10.2M | $11.5M | $16.0M | — | — |
| Goodwill | $296.3M | $317.1M | $317.1M | $457.7M | $795.8M | $495.1M | $1.11B | $1.69B |
| Other intangibles | $308.0M | $427.2M | $539.3M | $738.1M | $793.9M | $766.1M | — | — |
| Total assets | $963.1M | $1.11B | $1.27B | $1.64B | $2.22B | $1.50B | $697.8M | — |
| Accounts payable | $21.3M | $13.5M | $14.5M | $18.3M | $24.2M | $8.2M | $257.5K | — |
| Short-term debt | $6.4M | $6.4M | $6.4M | $6.4M | $4.8M | $2.6M | — | — |
| Total current liabilities | $373.0M | $377.0M | $413.2M | $425.1M | $545.7M | $185.7M | $257.5K | — |
| Long-term debt | $570.8M | $573.3M | $577.5M | $581.8M | $462.2M | $512.4M | — | — |
| Total liabilities | — | — | — | — | — | $153.5M | $78.0M | — |
| Retained earnings | -$1.58B | -$1.44B | -$1.32B | -$972.2M | -$247.2M | $0 | -$75.1M | — |
| Total equity | -$30.2M | $93.8M | $205.6M | $531.8M | $1.06B | $580.0M | -$2.76B | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $25.1M | $30.0M | $2.8M | -$20.9M | — | -$720.7K | -$37.4M | — |
| Depreciation and amortisation | $1.8M | $3.4M | $3.3M | $6.5M | — | — | $5.0M | — |
| Stock-based compensation | $13.2M | $19.6M | $31.1M | $36.6M | — | — | $83.0K | — |
| Capital expenditure | $1.8M | $1.6M | $4.2M | $4.9M | — | — | $10.4M | — |
| Investing cash flow | -$18.6M | -$18.4M | -$23.0M | -$42.2M | — | $856.2K | -$17.4M | — |
| Financing cash flow | -$8.1M | -$51.5M | -$10.8M | $77.2M | — | $1.5M | $57.8M | — |
| Buybacks | $0 | $0 | $8.0M | $2.8M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-015925.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $365.6M | — | — | $555.1M | $553.2M | $531.0M | $512.7M |
| Gross profit | — | $318.8M | — | — | $403.1M | $400.1M | $396.1M | $378.0M |
| Net income | — | -$849.2M | -$72.5M | — | -$725.0M | -$349.3M | -$121.9M | -$139.8M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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