Earnings call transcript Q1 2024

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Operator

Greetings and welcome to Skillsoft Corp.

First Quarter 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

pleasure Relations. your my Head Chad now Investor of is to host, introduce Lyne, It you. Thank

may You begin.

Chad Lyne

to quarter Thank Walker, and you ended are today call Jeff for Officer. operator. April Skillsoft's joining our you, Good on Chief us Chief for afternoon XX, XXXX. Tarr, Skillsoft's Financial today's the Skillsoft's results Rich for financial and Participating thank discuss quarter first call earning Officer; Executive

it's market close, a financial Skillsoft results. announcing after Today press issued release

release is earnings on Skillsoft's As website. today's a available Investor Relations reminder,

hand and the financial remind trends, company's business statements I statements will call Before including I over and performance, the want you contain our today expectations. to materially and expected that to are business about and call expectations, financial outlook. that Jeff, outlook management's future could and that results business forward-looking statements today's cause reflect concerning facts financial risks differ forward-looking and are therefore and of beliefs from historical These and as actual uncertainties current statements all subject to expectations not condition, to

filings. found that the of in discussion factors other the important risks results, affect Harbor to our risks actual Safe discussion and a the please SEC described material company's refer For could the in

presented prior quarter the basis foreign noted referred During being results first for are XXXX to comparable the financial on call call our principles. prior reflect accounting are to will that accordance periods to certain with XXXX. accepted historical represents pro-forma merged measures, made discuss translated currency results not rates period. been had non-GAAP amounts call, exchange we this also on constant-currency pro-forma which year X, generally otherwise, in as this and prepared at local prepared all References on to Unless year comparisons Codecademy have on February a results which

for naming reportable We we updated our to convention also note that our have two want segments.

of differentiated owning Content our Codecademy our through and and better platform. Platform SaaS-based is coaching reflect called experience delivering AI-driven Skillsoft model & now to Our includes previous Content learning content offering. segment Skillsoft our segment This

Knowledge Our there to or in-classroom in training segment Training been we've Instructor-led this convention of our reported in update to no financial how reflect performance previous delivery called technical disaggregation Global change expenses compared our is skills virtual naming and has training. the past. of now With better to segment revenue

as the financial commentary non-GAAP A other metrics to GAAP included and comparable and these at press release define in of available today's has earnings is to directly metrics our reconciliation been well furnished also the the www.skillsoft.com. our in how measures financial which measures, website SEC most we as included on is

Jeff available After Rich Tarr to Walker our and take prepared will remarks, questions. be

to the With call that, it's turn my Jeff. over pleasure to

Jeff Tarr

Thanks, afternoon, for you and Chad. Good joining us. thank

margins important go-to-market. our & retention fund in in on dollar on year report QX, that and the segment, high record to double-digit building a continuing fiscal expanded I'm generated fourth growth bookings had call. to platform, content, investments pro-forma quarter strong EBITDA our in adjusted growth Platform Content that we while near rates, start and shared we We XXXX the momentum pleased to delivered

On that learning. cover today's operational call results. enterprise of I'll in also the strategic to a call, turning our extend important financial performance I'll to lead discuss few priorities intended improved market before over highlights trends driving to a our share and our number are Rich

existing from believe reskilling issue development low as and pace teams. surveys encouraged change to structural been for what long-term their highlighting by with as a priority been in technological top relentless on getting of tailwinds. employees. senior businesses unemployment I more constant continues important has technical their and exacerbating and turn a gaps. CIOs talent This C-suite skills elevate are the Further, remain focused has excited a I'm Historically

driving is strategic a development. online enterprise-wide shift price-sensitive to approach learning a taking a skills from more approach more towards check-the-box away customers to This

and championing ever for through Now solutions that that leaders employees, the their are transformation organizations be skills enterprise more Skillsoft imperative embracing development learning can offers. unlocked than of the workforce strategic

business segment deliver solution transformative reskilling end-to-end the has outcomes learning and to are enterprise-grade entire built experiences Our an us. the our more to based offerings been been growing We've and objectives and ensures through longer-term throughout journey. wins learner's in measurable that evolving and the opportunity serve we're of encouraged time this we better recent customer demanding for both by see some front

The the shift other rise AI. is, of course, market big sudden of generative

jobs are we worried transform at-risk and believe to will the how jobs that generative more While knows who and AI an hyperbole, it scale. or new from from at use pace AI will effectively. the their generated are workforce profoundly unprecedented employee technologies often workers Knowledge be

knowledge While for are imperative every new and will concerned their companies business This how is reskilling relevant and worker. transformation leaders and competitive. about creating a that is nearly remain touching organization workforce

opportunity shift, is Skillsoft. tremendous Given there for believe this we a profound

shared our launch earnings leveraging platform. years we for side, content our the an have deep last As within we eight-module AI-driven in our ChatGPT. a on there legacy and on call, to power More most AI launched pioneer been in our a its many successful recently have Codecademy That ever. introduction course Percipio was team Skillsoft

a for seen and machine learning our more increase courses. than completions also artificial in six-fold We've intelligence

and generative rapidly develop of teams, a help the leaders to across individuals, offerings AI expanding have for We skills enterprise. critical suite leveraging

with generative recognition than dev, span skills, and a interesting advantage and training Skillsoft's the Our more got unique and learning has just technology and enterprise-wide tech that's AI contributing to generative business leadership, needs. AI that competitive solutions compliance

We work enterprise an coaching dozen lot new It excitement. which month. later is AI are of such ways simulator create alpha is move AI generating powerful this into using to than more we'll currently our a customers two to and beta as with generative also large

Ultimately, are we purpose our and are AI to organization. localization deliver our are our through helping of of uncovering to people opportunity learning the new transformative generative and to productivity in organizations experiences. generative using AI improve their to our confident grow together also on We across content ways accelerate use we

for new offerings. market demand In are we forces our summary, believe creating powerful

to continue growth succeed inter-related dev workforce Going and leading to people and transformation; world a and preparing tech to forward, expect on two, their three and three, focus generative organizations important drivers skilling; leading leading one, in in us and of AI.

highlights. industry. now public the our our markets, Turning return assets assembled of to breadth unparalleled to operational is Since that believe the in we we've

transformations. us our results. Our QX to systems go-to-market portfolio position solution reflected into go-to-market holistic this investments strategy large workforce are and changes people, in for in and processes enabling in our enterprise a are better and The execution complex comprehensive integrated and

Platform expanding on X% of basis. were LTM Content demonstrate relationships We renewal. & bookings existing segment effective at We our grew with and X% more at our and our solutions customers an value the

XXX% team's dollar to the demonstrate of ability retention articulate rates an our record to XXX% upsell value LTM solution across that contributed Our cross-sell basis. high suite on and drove activity and and

we and one well aerospace acquisition and and including larger U.S.-based leading six-figure of companies, in investment metrics We and a retirement and the the products real last-mile distribution of Beyond for defense largest with the front. a earned headline services. deals estate leading than customer and logistics more XXX provider business contractor, Content with European also & quarter, the growth executed customers Bookings on retention, Platform's new

the in with the has XX,XXX of nearly A and services than customers infrastructure its Kyndryl, heart world's careers provider employees its people on putting of largest at highlight with thousands IT skills for culture XX a the a purpose-driven the four-year a of countries. quarter serving organization value-centric built agreement more was signing business. and Kyndryl focused

Kyndryl's As it works solution. culture partner globally, advance of and that sought distinct growth an an enterprise the could measurable company with deliver end-to-end the learning to professional outcomes its support

continuously grow thousands proposition experience skill spanning was services. Skillsoft and to for our extensive learning best-of-breed paths, a topics able Percipio a to learning Skillsoft win of learning a provides tremendous extensive our It's compelling administration our all and portfolio content strategy. and our immersive sets. all full continuum Kyndryl supported capabilities, with develop Kyndryls demonstrate testament modalities, our opportunity Skillsoft with the learning teams management value leveraged platform, and that our and including their of and to all for program of

with our summary, progress the and our generated. pleased team In I'm results

a be we up are to for quarter-to-quarter, of a off areas add variability will solid year. we we year while Our positioned to to And start. there is what expect believe good

Rich With that, I'll to cover over CFO, financial now our Walker, results. turn Rich? our to the call

Rich Walker

Thanks, Jeff. thanks everyone, for and Welcome, joining today.

ownership performed first and EBITDA & on As grew margin that dollars Jeff discussed, generally of organization, with segment, layers, and worked Platform simplify execute our In free line delivered past the our adjusted and urgency. with focus Content several a and quarter in outperformed and a culture promote high of expanded positive we our basis, flatten expectations ILT We solid degree generated segment, revenue objectives. and our continue strong in to we flow. and in and a spans the to a quarters, bookings we accountability, have cash

Moving on divested merged periods. XXXX, total be Unless all our February noted, excludes X, the forma Codecademy had results a I sum for financial will now on discuss otherwise as to basis, results. if and the pro business

represents otherwise In currency which believe on financial underlying operating basis a we comparisons more comparison addition, I constant unless appropriate and will just our noted, performance. of a growth year-over-year discuss

basis. to quarter due was and to & XXX% The were for reflecting upsell an rate across in-quarter performance our stronger for on growth which and LTM period. captured period bookings this first of cross-sell and Content turn primarily $XX million, activity the the Let's Platform segment, of bookings. offerings, our LTM segment in the XXX% was in retention X% higher In dollar our for X%

quarterly base, LTM should given viewed that DRR Bookings renewal metrics the in reminder, basis. & assessed a and an primarily and on As are Platform seasonality our be Content

XX%, were which subsidy fiscal changes partners million, had bookings segment, large XXXX anticipated $XX ILT to programs. in our in two due down training largely In we

changes half this to second lap these in impact Importantly, of we the year. expect largely the of

due with ILT down Given Content between segment. our smallest were of our bookings of $XXX typically mix two seasonally & the being segments segment, entirely million QX the to of bookings total X% Platform quarter the

with growth of years continue From its revenue This XX% approximately and revenue X%. ago, $XX all Codecademy. and being $XXX from two time the & over approximately and from in total ILT XX%, million sustained lines down to predictable mix P&L. revenue growth from Content Content a recurring Moving revenue segment. down revenue including our given million Platform the and up our expect double-digit business subscription standpoint, this & segment to XX% of to $XX we mix across basis. to was up total was was million contributing more increase Platform is of X%,

of and through leverage operating rationalize resources. We greater Shifting our productivity, well stewardship organization our to and profitability. and drive prudently Identifying teams executed for priorities business. we struck ongoing reinvesting demonstrated efficiency to the growth effectiveness. in Across some the into savings capital effective I bottom spend the strategic the to investment while areas balance redirect to between also capacity towards business line. an appropriate areas believe more accruing

revenue, software spend Non-GAAP development of $XXX and was Non-GAAP primarily revenue, XX% revenue million, of the favorably of million million, or content acquisition. up XX% capturing down Non-GAAP approximately and to synergies of was cost timing was or X%. of XX% down the of OpEx XX% revenue, or favorably of due development from of $XX Codecademy of expense $XX X%. content

down on the revenue, of and revenue, the administrative & due sales bookings Non-GAAP or million, $XX Codecademy segment. and Platform due from expenses of synergies favorably go-to-market growth accelerate expense of Content to transformation expense $XX reductions. and or of XX% our investments to capturing was million, was Non-GAAP primarily in up other to of acquisition XX% general XX% X% marketing our

Adjusted pro Adjusted points a EBITDA was compared revenue, basis of first of XX% XX%. $XX our quarter was forma margin fiscal EBITDA gain million, XXXX. more results up the in than to XXX approximately of

loss Our $XX $XX net was million. was the in and quarter GAAP net loss adjusted million

in operations highlights. receivable million from and cash flow had $X capital million. positive sheet fourth against capital balance. internally Moving quarter, software, in the strong developed $XX expenditures invested quarter million favorability was cash by balance $XX and free as the accounts We of we collections led capitalized resulting to flow working cash Cash in high flow seasonally

$XXX first cash equivalents, quarter fiscal $X of with of increase year our million cash We January. an end approximately million ended from the and in

X.X million our we on was loan repurchased $XX our we drawn repurchase share million The $XXX facility. term $XX quarter, under outstanding accounts receivable balance million our the million shares program. on and $XX facility During had million

last approximately million total we fall the sale As a reminder, we $XX business, loan have prepaid term of and the the $X amortization annual million. on payments following sum of

for accelerate organic a leading standpoint, From leading and & believe in continue capital our workforce growth that AI. transformation, in will generative align skilling, and we profile will dev to priorities tech of allocation our in we prioritize long-term investments leading

We loan to while reduce in the further existing maturity also repurchase our share continue its advance further will repurchases under assessing to obligations XXXX, our of under July authorization. opportunities also of evaluate in term share

good a we first With ahead. year are us, we positioned believe the quarter behind for well

forward the to reaffirming million. bookings our year EBITDA look which $XXX continue all million $XXX April, and many to of days. profitable Skillsoft calls with full support growth your adjusted as are of We coming million outlook to provided We seek We creation million, drive of we to for million to in the of for in $XXX to $XXX of and and $XXX you we strategy for execute value connecting our stakeholders. appreciate revenue $XXX million, total

for open Operator the you may questions. now call

Operator

the Please Wong line with your Ken comes [Operator of proceed from Instructions] question. first Oppenheimer. Our with question

Ken Wong

think for quickly on FX a maybe bit as to guidance. quarter a we of that looks headwind Thank that that did my view actually modest this a you I kind is of year Great. kind baked bit growth into question. It guys ask you just should and of and a currency increase? of guide, the like on constant taking want basis, about see there, full an reiteration we what's

Rich Walker

Ken, think Rich. -- it's I Yes,

FX Our was think modification reflective when And for year. no the guidance, guidance outlook the our we best isn't we so because environment, of changed of said it there.

Ken Wong

uplift where that And I Can think then that think And is saw look the that mentioned second a side. about fantastic. talk is we really bit ahead, on maybe trend cross-sell. Okay, from? as maybe incremental you solid you little maybe potentially performance retention of sustainable? you you a

Jeff Tarr

some in pleased of dollar the quarter. is business, We're customers. capable XXX% time we've the with of the demonstrates thanks. said, some some for With quarter smallest reflective rate. It's some seen what pockets of what year. it's our the segments is geographies of Ken, retention So, small of that company a and

down so individual numbers of dollar move quarters the retention wins significantly the year. small that in quite or up And losses and can first three of rate

the moving to rate, also XXX% at closely. So LTM which growth we watch the as metric direction the at look right in prefer to is more

driving we're drive to quarter the dollar we can metric course, that Of move rate to highest LTM retention each up.

Ken Wong

Got it.

Really appreciate Thanks color, the a perfect. Jeff. guys. Okay, lot,

Operator

the from your with Raj Sharma next with Riley. B. proceed line Our question of comes Please question.

Raj Sharma

my please questions. Codecademy. add wanted Hi, probably if profitability in on -- thank color also color metric. the terms could and to you for understand taking How's some more I of you on that revenue contribution

you give on them. You had set metrics certain when Do you acquired that? please an update

Jeff Tarr

Sure. first there. I'll Rich to understand business. need all, let very it Raj, I'll take much. operating But we're you start, of from thanks how

dev increasingly to unit the have inside & effectively line, product BXB which increasingly business BXC tech difficult reported it platform. out. content of We Codecademy operate business, has as so The we been business break a into that's becomes our integrated

how metrics with tracking to require invite at profitability do made the that shot Rich that. that we're Rich? how well the transaction. the give best at allocations performing we pleased And top said, we're the to that see on it's we time also I'll some of With line. commitments

Rich Walker

So we at probably that when million it, we Raj time. acquired it announce drag did EBITDA on a was $XX

margins reason pleased in don't segment-level expanded because made. fully reportable efforts like-for-like saw basis growth business. in We the we with XXX we of consolidated P&L comparison view, the We a about We but Part very year-over-year of more have integrated now have on we points progress I'm our a made. separate the quarter. XX% the was the

much be of And the outlook its a described Code without to call year and contribution detail. results. this on is our of lot reflective will go-forward like full The

the more Now Codecademy that importantly, our into we're and lapping integrating and results. it operations our

Jeff Tarr

business, in is Maybe seeing rate. is that the line. at at top in peers BXC on growing The growing is -- high BXC emphasize, segment. I on BXB we're And a growing BXC mid The business single-digit double-digit -- faster the the double-digit than growing rate. a business is to

taking believe share. we So we're

Raj Sharma

when of I from side, Codecademy you it the Right. were say on fair would that it been it it, drag it flat EBITDA on to million -- half $XX of synergies you to the counting classify or is or the on of side. some it? have? know the commented narrowed Has and what those cost all the synergies you Is acquired now, you

Rich Walker

integrations. progress it's are all BXC But some the Yes, shared the tough business It's as and services because enterprise But primarily offering. marketing legal of dev we into well operates. executed to HR on assumptions measurement you finance different the by a as some to tech we've made autonomy and and make in two those the have is allocations. think integrated entire business. our accounting, has it support & supported I BXB business on a model and The a expected as

meaningful seeing So not I we're the more top with for line on and alluded the top is on it think business, to that the pleased drag and line. Jeff we're growth what the operating

Raj Sharma

Great.

and I Okay, of on ILT Can business business, fair you cadence the revenue to for the part to doing? is as on that knowledge. want the through year, expectation global that the guidance just the how and business your comment sort enough. move of

Jeff Tarr

the environment first lapping tracking on of giving the...? Rich, we it all, that feeling say that year. have in we you of more Well, to about sort corner saw that comfortable believe what the are we we the on issues close in and we're the as we're expected post COVID that I'll we've quarter, first some of that good are business effectively, and color operating turned that

Rich Walker

Yes.

the tends ILT QX bookings. of of kind seasonally high -- historically the the a a be for think to quarterly progression I quarter on business,

from we a or a smaller consumption lose You use always impact revenue, generally seasonally. recognize and is classroom where approach it. a it QX

the plan When quarters when and logical and the to in put but prior I business more for the think place, has the to the importantly, enjoyed year, how really about something widen half second three the tough that's the business, now, business executing we we in and compare been important. lap executing and is about compares we've which aperture a the in be it's there'll

Raj Sharma

you. Yes, offline. congratulations through of line. take bottom Thank free on my just the Thank flow it it. flowing Got sort And down you. the to all cash that's I'll questions. then

Jeff Tarr

Thanks Raj.

Operator

of the Our next your comes proceed line question. Davidson. question with from Please D.A. Simmons Robert with

Robert Simmons

my could give like wondering sales taking questions. saw maybe us was on Principally but if for color the expected. better in than weaker kind looking strength at some productivity. newer I also of you Thanks where reps, then your you of like force Hi. the ramp

Jeff Tarr

seeing We're us that No. about salespeople full on last takes good It progress to joined productivity productivity. months year. get who XX

assumed for this productivity have and seeing we're as our develop in expected. we guidance We year, improved had that

development to regards a where team continue is That's we really forward, to a as process made. where on we're good sales Going winning, the with levels senior feel progress more viewed help our people in the Kyndryl is engage more strategic That's imperative. focus serve. and winning sales force in our organizations our we at and is and big a like the and workforce transformation to skills - sales that to engage where accounts others, consultative about we're

Robert Simmons

for this far And How is could it. talk then I up if the going environment. you was about been year? Got that so pricing wondering you

Jeff Tarr

weighted. takes price to all, We're about, again, a it fourth bookings, while to have that revenue. bookings for the through we increase, as heavily because a returned of flow company-wide First have quarter implemented we we've talked

is alluded in it little we there the regard see my we every quite bifurcated. a I pricing the year. to this implement we environment, to see So price remarks. With year, it increase, of in

learning of a is see what The as sensitive sees strategic. a us We see segment see what that activity online for segment customer, that highly see and market shrinking, both check-the-box that overall. of former that learning highly customers of and experiences a as and customers deliver we we as sort learning category of are price online transformational the beyond we

and that more as those The we are of latter see where share. strategic, we growing taking market customers, are category growing,

the feel own. reflected to market transformation time believe we're be over in that's how stronger believe in a about performance. is we its of and So going a We good positioned, we

Robert Simmons

ago? the just you Got or final of those it. of kind stable? in is getting And conversations you characterize you versus of talk Are from And me could about see would one how three kind longer, getting sales your shorter, then months terms customer where cycles? six

Jeff Tarr

I of a are think Keep lengthening some business, some out others have commentary mind, calls cycles cycles. there. other our not lengthening Yes, business upsell probably business in where is we citing in of renewal are we building a seeing of most sales on we're and an

lengthening than business, depending like that are, on We others, the growth seeing and our drive hit cycles less to we new industry. in of numbers others a on but are

Robert Simmons

Got Thank it. much. very you

Operator

Lenschow next Barclays. comes Our line with Please proceed with from question Raimo the of your question.

Sheldon McMeans

this I for announced Hi, want on for features. Plus of our seeing Codecademy. upgrade with Pro and the of you the And recently Raimo. reception the on Codecademy suite start enhancements taking to questions. the how Sheldon is to are Thanks

reaction In it color kind Is of this reduce friction Any leading of for here, land enterprise is the sizes? sale? higher here? to leading to terms the

Jeff Tarr

both side. you believe share tell can't is BXB Codecademy consumer on we is taking the I and Well, -

and good we're we'll traction to tell launch. on is I and Where about believe our generative area. feel you, to to continue early the invest we in that, AI So new deliver that can in on new expect that results area we days offerings, continue seeing also

Sheldon McMeans

me? call wondering terms anything could from Great. verticals in all that's you. if regions and of there's or across And demand Thank out that you

Jeff Tarr

we Look, less more growth regions we're see in penetrated. where

performing Overall, the and markets, Asia company total our drive we're markets. parts quarter. result. to America do less North our those of still stronger, and in and both first So Pacific business both big the growth of is are MDI example, small for EMEA, But some expectations to the in

the about verticals, sorry. asked also You

Those where in areas really in been seeing professional more been have services, some see of like we've terms in - been and us, have growth. results financial So retail. good services for growth good, technology, more we seeing verticals opportunity good in healthy in verticals,

is really the we see talent, we where most they're where with where differentiates a imperative. that's where strategic transformation to workforce growth we in customers see what But investing less reskilling see as versus opportunity. growth And see

Sheldon McMeans

Excellent, thank you.

Operator

Our with question. comes Citi. proceed your with Please Singlehurst next question of Tom from line the

Thomas Singlehurst

Good here evening it's Tom Citi. from Yes.

me Forgive if generative you've interested missed of the reskilling on if so the mean the you AI. I call, some of sort you've rehashing that stuff sort covered, I'm beginning I area? talk these we're of about apologize in already already but comments created in addresses I content of the that

whether opportunity interested the is reskilling on you Thank conversations guys and much. and/or as sort in, cost just starting And give and what of an more sort well I'm and there either personalization? a on very upskilling. then of push topic it's course about creation specifically, your saying you learner the could customers flesh But side more for of of really about sort support whether you for bone broader on sort this are

Jeff Tarr

question. the So love

teach, generative it impact are teach already what We in every conversation. comes we Codecademy customer AI. suite in terms teach on eight what introduction the and of generative AI on seeing we segments we've to we up to up and how the coming teach, work. comes it When it almost announced we we teach course of how of is And how what we

on we'll cuts impacts AI. of debt series a into added three the AI has multi-mobile expect that learner it an comprehensive and tech skills, learner it hours, over first of have and our leadership across every if all journeys it's - and Generative business major are learning We our that impacts generative to impacts IoT journeys, in an you categories. a area compliance. generative new we time It content. of launching where should And and integrating course AI that impact, be portfolio, of

number that's one. So

and workforce will given What we to and transformation generative that create AI imperative the it continue reskilling. evolve to changing, teach, it's

as unlock. teach, business. AI Secondly, simulator on mentioned on I response how with enterprise that's from with in call, long we AI coach huge generative than alpha a rather large an been AI is We're - dozen that in the customers. we we've more using have seeing are two alpha an we beta customers our tremendous

within we industry are field. We're that and we moving the in leading this data. And particular are very weeks believe into excited of

In cost are that in cost terms that how generative is to continue. already it's having driving structure. business of expect seeing areas out, we an where on and area, our AI the work, We're we third impact there

to and how the a an Now We what I'll tell our us is and teach. that enterprise-wide of this AI company It to everything do lead critically we line we imperative bottom we're see our business. as future we expect area. can - the more that extending to important three to on top dropping for to generative sustain teach lead in the you now not focused frees using invest in right that the on up less we focused resources that and

Thomas Singlehurst

clear. Thank you very That's very much.

Operator

questions hand I'd queue. There further back remarks. closing to are the the to no call for like management in

Jeff Tarr

look year. started, year still call. We very second Thank forward for about after you We're We're appreciate quarter. very you joining good our how we to the and updating us early this the much. you has greatly in feel

Operator

does today's your this and Thank teleconference. Ladies participation. gentlemen, for conclude you

at your this time, and a You lines have may wonderful disconnect day.

Skillsoft (SKIL) 6 Jun 232024 Q1 Earnings call transcript