Skillsoft Corp.
For the period ended Jan 31, 2025. Filed Apr 14, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Apr 14, 2025
SKIL$3.11-7.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Twelve Months Ended January 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income (loss) | $(121,908) | $(349,285) | $(724,964) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||
| Impairment of goodwill and intangible assets | — | 202,233 | 641,362 |
| Amortization expense for intangible assets | 127,216 | 152,511 | 176,690 |
| Stock-based compensation expense | 19,587 | 31,067 | 36,622 |
| Non-cash operating lease right-of-use asset expense | 2,175 | 5,015 | 5,836 |
| Depreciation expense | 3,374 | 3,330 | 6,508 |
| Non-cash interest expense | 2,184 | 2,074 | 2,098 |
| Non-cash property, equipment, software and operating right-of-use asset impairment charges | 2,622 | 5,230 | — |
| Provision for credit loss expense (recovery) | (61) | 341 | 375 |
| (Gain) loss on sale of business | — | 682 | (56,619) |
| Provision for (benefit from) deferred income taxes – non-cash | (9,990) | (22,066) | (43,082) |
| Fair value adjustment of warrants | — | (4,754) | (23,158) |
| Fair value adjustment of interest rate swaps | (1,287) | (2,756) | 1,554 |
| Changes in current assets and liabilities, net of effects from acquisitions: | |||
| Accounts receivable | 4,087 | (2,091) | (1,560) |
| Prepaid expenses and other assets, including long-term | (132) | (4,601) | (13,588) |
| Operating right-of-use assets and operating lease liabilities | (4,487) | (6,041) | (4,456) |
| Accounts payable | (855) | (3,848) | (5,982) |
| Accrued expenses and other liabilities, including long-term | 5,348 | (6,425) | (20,797) |
| Deferred revenue | 2,092 | 2,202 | 2,228 |
| Net cash provided by (used in) operating activities | 29,965 | 2,818 | (20,933) |
| Cash flows from investing activities: | |||
| Purchase of property and equipment | (1,603) | (4,181) | (4,913) |
| Proceeds from sale of property and equipment | 10 | — | — |
| Internally developed software - capitalized costs | (16,765) | (13,722) | (10,352) |
| Sale of SumTotal, net of cash transferred | — | (5,137) | 171,995 |
| Acquisition of Codecademy, net of cash acquired | — | — | (198,914) |
| Net cash provided by (used in) investing activities | (18,358) | (23,040) | (42,184) |
| Cash flows from financing activities: | |||
| Shares repurchased for tax withholding upon vesting of restricted stock-based awards | (1,127) | (1,649) | (4,279) |
| Payments to acquire treasury stock | — | (8,046) | (2,845) |
| Proceeds from (payments on) accounts receivable facility | (43,980) | 5,287 | (34,936) |
| Principal payments on term loans | (6,404) | (6,404) | (37,795) |
| Proceeds from issuance of term loans, net of fees | — | — | 157,088 |
| Net cash provided by (used in) financing activities | (51,511) | (10,812) | 77,233 |
| Effect of exchange rate changes on cash and cash equivalents | (3,282) | 1 | (5,483) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (43,186) | (31,033) | 8,633 |
| Cash, cash equivalents and restricted cash, beginning of period | 146,523 | 177,556 | 168,923 |
| Cash, cash equivalents and restricted cash, end of period | $103,337 | $146,523 | $177,556 |
| Supplemental disclosure of cash flow information: | |||
| Cash and cash equivalents | $100,766 | $136,308 | $170,359 |
| Restricted cash | 2,571 | 10,215 | 7,197 |
| Cash, cash equivalents and restricted cash, end of period | $103,337 | $146,523 | $177,556 |
SKILLSOFT CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS - continued
| Twelve Months Ended January 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental disclosure of cash flow information and non-cash investing and financing activities: | |||
| Cash paid for interest | $63,114 | $64,229 | $49,078 |
| Cash paid (received) for income taxes, net of refunds | 3,702 | 5,839 | 4,165 |
| Unpaid capital expenditures | — | — | 596 |
| Shares issued in connection with business combination | — | — | 182,550 |
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