Skillsoft Corp.
For the period ended Jul 18, 2024. Filed Jun 7, 2024.
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Jul 18, 2024 · Filed Jun 7, 2024
Contents
PROXY STATEMENT SUMMARY
This summary highlights information that is contained elsewhere in this Proxy Statement. It does not include all information necessary to make a voting decision and you should read this Proxy Statement in its entirety before casting your vote.
Skillsoft at a Glance
Skillsoft delivers transformative learning experiences that propel organizations and people to grow together. The Company partners with enterprise organizations and serves a global community of learners to prepare today’s employees for tomorrow’s economy. With Skillsoft, customers gain access to blended, multimodal learning experiences that do more than build skills, they grow a more capable, adaptive, and engaged workforce. Through a portfolio of best-in-class content, a platform that is personalized and connected to customer needs, world-class tech, and a broad ecosystem of partners, Skillsoft drives continuous growth and performance for employees and their organizations by overcoming critical skill gaps and unlocking human potential.
FY2024 Business Highlights
| • | Positioned Skillsoft as the partner-of-choice to help customers thrive in the Generative AI (“GenAI”) era, launching Skillsoft CAISY™ - our GenAI-powered virtual coaching solution - and releasing a comprehensive suite of GenAI-based Skill Benchmarks, Aspire Journeys, and interactive Codecademy courses and hands-on labs. |
| • | Accelerated revenue growth in our subscription-based Content & Platform segment to 3% on a year-over-year pro forma comparable basis. |
| • | Improved our dollar retention rate year-over-year from 100% to 101% and delivered four consecutive quarters with LTM dollar retention rates of 101%. |
| • | Sharpened our focus to better serve Enterprise Skills Champions – generally large and complex global organizations with more than 10,000 employees – for whom reskilling and upskilling is an enterprise-wide strategic priority, where we achieved LTM dollar retention rates of 105%. |
| • | Enhanced profitability with higher pro forma Adjusted EBITDA on a dollars and margin basis year-over-year. |
| • | Ended the year with a strong balance sheet and liquidity profile to support our strategic investment priorities and future growth objectives, including $147 million of cash, cash equivalents, and restricted cash. |
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