Q3 2025 Skillsoft Corp Earnings Call Transcript
Key Points
- Skillsoft Corp (SKIL) demonstrated progress in its transformation plan, focusing on operational execution and strategic resource allocation.
- The company achieved positive free cash flow in the third quarter, a significant milestone in its financial performance.
- Skillsoft Corp (SKIL) secured key new customer wins, including a seven-figure multiyear deal with a top 30 global brand in media and entertainment.
- The introduction of new product innovations, such as AI coaching assistants and compliance suites, has improved user experience and retention rates.
- The company raised and tightened its fiscal year 2025 revenue guidance, reflecting confidence in its ongoing transformation efforts.
- The LTM dollar retention rate decreased year-over-year, primarily due to softness in coaching and compliance product offerings.
- Global Knowledge revenue declined by 10% year-over-year, although there was sequential improvement.
- General and administrative expenses increased by 17% year-over-year due to one-time costs related to CEO employment agreements and retention awards.
- The company still faces challenges in transitioning its coaching product to a subscription model, which may pose risks during the transition period.
- Despite improvements, Skillsoft Corp (SKIL) reported a GAAP net loss of $24 million for the quarter.
Thank you for standing by, and welcome to Skillsoft's third quarter, fiscal 2025 results conference call. (Operator Instructions) Please note that today's call is being recorded.
I would now like to hand the conference over to your first speaker today, Stephen Poe, Investor Relations. Thank you. Please go ahead.
Thank you, Operator. Good day and thank you for joining us to discuss our results for the third quarter ended October 31, 2024. Before we jump in. I want to remind you that today's call will contain forward-looking statements about the company's business outlook and our expectations, including statements concerning financial and business trends, our expected future business and financial performance, financial condition and market outlook.
These forward-looking statements and all statements that are not historical facts reflect management's current beliefs and expectations as of today and therefore are subject to risks and uncertainties that could cause actual results to differ
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