SKIL - Skillsoft tumbles 14% most in past three despite beating topline expectations D.A. Davidson cuts PT to $8
Skillsoft (NYSE:SKIL -14.8%) Q1 shows almost flat revenue at $170.25M, beating consensus by $2.56M, owing strength to the content segment bookings with 22% jump. Skillsoft content dollar Revenue retention to 101%, up 10% Y/Y. GAAP revenue of $164M, up 79% and GAAP net loss of $22M. Total bookings of $125.5M, down 5% from last year. Adjusted EBITDA of $33M. 2023 Outlook: Bookings $790M-825M, Adjusted Revenue $765M-790M, Adjusted EBITDA ~$167M. Dig deeper in company presentation. D.A. Davidson & Co cut the target to $8 from $9; maintaining buy rating. The new PT implies a 26% increase from last price. Quick look at the price performance of the stock over the last year. Previously (June 8): Skillsoft GAAP EPS of -$0.15 beats by $0.05, revenue of $170.25M beats by $2.56M
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Skillsoft tumbles 14%, most in past three, despite beating topline expectations, D.A. Davidson cuts PT to $8