Skillsoft Corp.

For the period ended Jan 31, 2026. Filed Apr 7, 2026.

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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.

FY2026 · Filed Apr 7, 2026

SKIL$3.11-7.2%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Twelve Months Ended January 31,
	2026	2025	2024
Cash flows from operating activities:
Net income (loss)	$(139,824)	$(121,908)	$(349,285)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Amortization expense for intangible assets	127,346	127,216	152,511
Stock-based compensation expense	13,240	19,587	31,067
Depreciation expense	1,817	3,374	3,330
Impairment of goodwill and intangible assets	31,716	—	202,233
Non-cash interest expense	2,305	2,184	2,074
Non-cash operating lease right-of-use asset expense	1,604	2,175	5,015
Non-cash property, equipment, software and operating right-of-use asset impairment charges	19	2,622	5,230
Provision for credit loss expense (recovery)	(119)	(61)	341
Fair value adjustment of warrants	—	—	(4,754)
Fair value adjustment of interest rate swaps	3,733	(1,287)	(2,756)
Unrealized foreign currency (gain) loss	(3,148)	(148)	1,018
(Gain) loss on sale of business	—	—	682
Provision for (benefit from) deferred income taxes – non-cash	(8,348)	(9,990)	(22,066)
Changes in assets and liabilities:
Accounts receivable	7,372	4,087	(2,091)
Prepaid expenses and other assets, including long-term	681	(4,471)	(7,694)
Accounts payable	7,505	(855)	(3,848)
Accrued expenses and other liabilities, including long-term	(7,710)	5,348	(10,391)
Deferred revenue	(13,139)	2,092	2,202
Net cash provided by (used in) operating activities	25,050	29,965	2,818
Cash flows from investing activities:
Purchase of property and equipment	(1,766)	(1,603)	(4,181)
Proceeds from sale of property and equipment	—	10	—
Internally developed software - capitalized costs	(16,786)	(16,765)	(13,722)
Sale of SumTotal, net of cash transferred	—	—	(5,137)
Net cash provided by (used in) investing activities	(18,552)	(18,358)	(23,040)
Cash flows from financing activities:
Shares repurchased for tax withholding upon vesting of restricted stock-based awards	(3,250)	(1,127)	(1,649)
Payments to acquire treasury stock	—	—	(8,046)
Proceeds from (payments on) accounts receivable facility	—	(43,980)	5,287
Principal payments on term loans	(4,803)	(6,404)	(6,404)
Net cash provided by (used in) financing activities	(8,053)	(51,511)	(10,812)
Effect of exchange rate changes on cash and cash equivalents	2,696	(3,282)	1
Net increase (decrease) in cash, cash equivalents and restricted cash	1,141	(43,186)	(31,033)
Cash, cash equivalents and restricted cash, beginning of period	103,337	146,523	177,556
Cash, cash equivalents and restricted cash, end of period	$104,478	$103,337	$146,523
Supplemental disclosure of cash flow information:
Cash and cash equivalents	$100,816	$100,766	$136,308
Restricted cash	3,662	2,571	10,215
Cash, cash equivalents and restricted cash, end of period	$104,478	$103,337	$146,523

SKILLSOFT CORP.

CONSOLIDATED STATEMENTS OF CASH FLOWS - continued

	Twelve Months Ended January 31,
	2026	2025	2024
Supplemental disclosure of cash flow information:
Cash paid for interest	$55,498	$63,114	$64,229
Cash paid (received) for income taxes, net of refunds	1,790	3,702	5,839

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