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Skillsoft (SKIL)

Churchill Capital Corp II is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Churchill II was founded by Michael Klein, who is also the founder and managing partner of M. Klein and Company. The Company raised $690 million in its IPO in June 2019 .

Company profile

Ticker
SKIL, SKIL-WT
Exchange
CEO
Charles Moran
Employees
Incorporated
Location
Fiscal year end
Former names
Churchill Capital Corp II
SEC CIK
Subsidiaries
Skillsoft Finance • Albert DE Holdings Inc. • Albert US Holdings Inc. • GK Holdings, Inc. • Global Knowledge Training LLC • Develop.com Holdings LLC • Develop.com LLC • D2i Edutech Private Limited • Global Knowledge Holdings B.V. • Global Knowledge Asia Holdings B.V. ...
IRS number
834388331

SKIL stock data

Calendar

8 Sep 22
28 Sep 22
31 Jan 23
Quarter (USD) Jul 22 Apr 22 Jan 22 Oct 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Jan 22 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 56.41M 56.41M 56.41M 56.41M 56.41M 56.41M
Cash burn (monthly) 8.08M 2.25M 43.46M 20.46M 6.96M (no burn)
Cash used (since last report) 15.53M 4.31M 83.49M 39.3M 13.37M n/a
Cash remaining 40.88M 52.09M -27.09M 17.11M 43.03M n/a
Runway (months of cash) 5.1 23.2 -0.6 0.8 6.2 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Sep 22 Gary W Ferrera Class A Common Stock Payment of exercise Dispose F No No 2.22 9,165 20.35K 52,550
20 Sep 22 Gary W Ferrera Class A Common Stock Option exercise Acquire M No No 0 31,715 0 61,715
20 Sep 22 Gary W Ferrera RSU Class A Common Stock Option exercise Dispose M No No 0 31,715 0 95,148
16 Sep 22 Zachary Sims Class A Common Stock Grant Acquire A No No 0 3,898 0 3,857,308
16 Sep 22 Naspers Class A common stock, par value $0.0001 per share Other Acquire J Yes No 0 11,481 0 61,261,708
11 Sep 22 Tarr Jeffrey R Class A Common Stock Payment of exercise Dispose F No No 2.26 73,166 165.36K 531,358
11 Sep 22 Tarr Jeffrey R Class A Common Stock Option exercise Acquire M No No 0 166,667 0 604,524
11 Sep 22 Tarr Jeffrey R RSU Class A Common Stock Option exercise Dispose M No No 0 166,667 0 1,166,666
10 Sep 22 Ryan H Murray Class A Common Stock Payment of exercise Dispose F No No 2.26 1,949 4.4K 28,020
10 Sep 22 Ryan H Murray Class A Common Stock Option exercise Acquire M No No 0 6,219 0 29,969
8.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 1 1
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares Current Prev Q Change
Total value 103.14M 103.14M
Total shares 9.09M 9.09M
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
MPH Acquisition 9.09M $103.14M 0.0%
Largest transactions Shares Bought/sold Change
MPH Acquisition 9.09M 0 0.0%

Financial report summary

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Risks
  • The impact of U.S. and worldwide economic trends, financial market conditions, geopolitical events, natural disasters, public health crises, political crises, or other catastrophic events could materially and adversely affect our business, liquidity, financial condition, and results of operations.
  • Demand for our products and services is susceptible to general global market and economic conditions.
  • Increased competition may result in decreased demand for our products and services, which may result in reduced revenue and gross profits and loss of market share.
  • New products introduced by us may not be successful.
  • Failure to effectively optimize, retain, expand, and continue to increase the productivity of our direct sales teams and develop and expand our indirect sales channel may impede our growth.
  • We rely on third parties to provide us with learning content and subject matter expertise and have content production relationships with third parties for our courses and learning content, and our relationships with these third parties may be terminated or fail to meet our requirements.
  • We are regularly subject to cybersecurity and other similar attacks. If our security measures are breached or unauthorized access to customer data is otherwise obtained, our platforms may be perceived as insecure, we may lose existing customers or fail to attract new customers, our reputation may be harmed, and we may incur significant liabilities.
  • Our business could be adversely affected if our products contain errors.
  • Acquisitions, including our recent acquisitions of Global Knowledge, Pluma, and Codecademy, may not produce the benefits we anticipate and could harm our current operations.
  • We depend on senior leadership to manage and operate the business, and if we fail to retain and attract highly qualified employees our business could be harmed.
  • Global Knowledge’s corporate training services business may be disproportionately impacted by an economic downturn.
  • The market for instructor led, synchronous, in-classroom learning may continue to decline.
  • The growth of Global Knowledge’s on-demand subscription skills platform, GK Polaris, makes it difficult to evaluate the future prospects of the platform.
  • A loss of Global Knowledge’s status as an authorized training provider with one or more key technology vendors could adversely affect the Global Knowledge business.
  • We may be unable to protect our proprietary rights. Unauthorized use of our intellectual property may result in development of products or services that compete with ours. Claims that we infringe upon the intellectual property rights of others could result in costly litigation or royalty payments to third parties, or require us to reengineer or cease sales of our products or services.
  • We might require additional capital to support our growth, and this capital might not be available on acceptable terms, if at all.
  • Our business could be affected by new governmental regulations regarding the Internet as well as by changes impacting the speed and reliability of the Internet.
  • Failure or perceived failure to comply with regulations relating to some career training services could result in the imposition of penalties or the interruption of our ability to provide services in certain jurisdictions.
  • Existing or future laws and regulations relating to privacy or data security could increase the cost of our products, limit their use and adoption, and subject us or our customers to litigation, regulatory investigations and penalties, and other potential liabilities.
  • Failure to comply with anti-bribery, anti-corruption, and anti-money laundering laws and regulations relating to our international operations could subject us to penalties and other adverse consequences.
  • Changes in tax laws, unfavorable resolution of tax examinations, or exposure to additional tax liabilities could have a material adverse effect on our results of operations, financial condition, and liquidity.
  • We could be subjected to legal actions based upon the content we include in our courseware or learning assets.
  • Our degree of leverage could adversely affect our ability to raise additional capital to fund our operations, limit our ability to react to changes in the economy or our industry, expose us to interest rate risk, and prevent us from meeting obligations on our indebtedness.
  • Our debt agreements contain restrictions that limit our flexibility in operating our business.
  • We may not be able to generate sufficient cash to service all of our indebtedness, and we may be forced to take other actions to satisfy our obligations under our indebtedness, which may not be successful.
  • The ongoing effects of our prior capital structure, including our emergence from the Chapter 11 Cases, could adversely affect our business and relationships.
  • We may not be able to achieve or sustain profitability in the future.
  • Information contained in our historical financial statements will not be comparable to the information contained in our financial statements after the application of fresh-start accounting.
  • If our judgments or estimates relating to our critical accounting policies are based on assumptions that change or prove to be incorrect, our results of operations could fall below expectations of securities analysts and investors, resulting in a decline in our stock price.
  • If the benefits of the recent transactions completed by Skillsoft do not meet the expectations of financial analysts, the market price of the Class A common stock of the Skillsoft may decline.
  • Our Derivative Instruments are accounted for as liabilities and the changes in value of our Derivative Instruments could have a material effect on our financial results.
  • The price of our Class A common stock may change significantly and you could lose all or part of your investment as a result.
  • Because there are no current plans to pay cash dividends on our Class A common stock for the foreseeable future, you may not receive any return on investment unless you sell your Class A common stock for a price greater than that which you paid for it.
  • If securities analysts do not publish research or reports about Skillsoft’s business or if they downgrade the Class A common stock or Skillsoft’s sector, the price of the Class A common stock and trading volume could decline.
  • Future sales, or the perception of future sales, by Skillsoft or its stockholders in the public market could cause the market price for our Class A common stock to decline.
  • Anti-takeover provisions in our organizational documents could delay or prevent a change of control.
  • The NYSE may not continue to list our securities, which could limit investors’ ability to make transactions in our securities and subject us to additional trading restrictions.
  • A market for our securities may not continue, which would adversely affect the liquidity and price of our securities.
Management Discussion
  • Our financial results for the three and six months ended July 31, 2022, and the period of June 12, 2021 to July 31, 2021 are referred to as those of the “Successor” periods. Our financial results for the periods of May 1, 2021 to June 11, 2021 and February 1, 2021 to June 11, 2021 are referred to as those of the “Predecessor (SLH)” periods. Our results of operations as reported in our Condensed Consolidated Financial Statements for these periods are prepared in accordance with GAAP. Although we are required by GAAP to report on our results for the Successor and Predecessor (SLH) periods separately, we do not believe that reviewing the results of the periods in isolation would be useful in identifying trends in or reaching conclusions regarding our overall operating performance.

Content analysis

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Legalese
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Readability
H.S. junior Bad
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