What's Going on With Skillsoft Shares Today?

Skillsoft SKIL shares are trading lower. The company reported Q4 financial results on Tuesday.

What Happened: On Tuesday after market closure, Skillsoft announced its financial results for the quarter ending Jan 31, 2023. The company also provided guidance for full-year 2024.

The Details: Skillsoft reported quarterly adjusted earnings (losses) of $(0.21) per share compared to the analyst estimate of $(0.22) per share. The company reported quarterly sales of $140.32 million compared to the analyst estimate of $123.97 million, representing a 13.19% positive earnings surprise.

Skillsoft also provided guidance for fiscal year 2024, expecting bookings in the range of $610-$640 million, and GAAP revenue in the range of $555-$585 million.

"We established a leading position in technical skills training with the acquisition of Codecademy and focused our portfolio on the high growth enterprise learning market with the divestiture of SumTotal," said Jeffrey R. Tarr, Skillsoft's Chief Executive Officer.

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.

According to data from Benzinga Pro, Skillsoft shares were down 11.6%, trading at $1.79 at the time of publication. The stock has a 52-week high of $6.61 and a 52-week low of $1.04