Skillsoft Corp. (SKIL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución del aprendizaje digital, Skillsoft Corp. (SKIL) se ha convertido en una fuerza transformadora, reinventando cómo los profesionales y las organizaciones adquieren conocimiento. Al aprovechar estratégicamente un lienzo de modelo de negocio sofisticado que abarca la creación innovadora de contenido, la tecnología de vanguardia y las soluciones integrales de aprendizaje, Skillesoft se ha posicionado como un jugador fundamental en el ecosistema de capacitación corporativa global. Esta profunda inmersión en su modelo de negocio revela un enfoque meticulosamente elaborado que conecta la tecnología, la educación y las necesidades empresariales con precisión y adaptabilidad sin precedentes.

Skillsoft Corp. (Skil) - Modelo de negocio: asociaciones clave

Alianzas estratégicas con departamentos de capacitación corporativa

SkillSoft mantiene asociaciones con más de 5,000 clientes empresariales en múltiples industrias a partir de 2023. Las asociaciones clave de capacitación corporativa incluyen:

Industria	Número de asociaciones	Inversión de capacitación anual
Tecnología	1,200	$ 45.6 millones
Servicios financieros	850	$ 38.2 millones
Cuidado de la salud	650	$ 29.7 millones

Socios de tecnología para plataformas de aprendizaje digital

Skillsoft se integra con las plataformas tecnológicas líderes:

• Microsoft Azure - Asociación de infraestructura en la nube
• Salesforce - Plataforma de integración de aprendizaje
• SAP SuccessFactors: colaboración del sistema de gestión de aprendizaje

Instituciones académicas para el desarrollo de contenido

Skillsoft colabora con 127 instituciones académicas a nivel mundial para la creación de contenido y el desarrollo del plan de estudios.

Región	Número de asociaciones académicas
América del norte	72
Europa	35
Asia-Pacífico	20

Proveedores de servicios en la nube

Las asociaciones de infraestructura en la nube de Skillsoft incluyen:

• Amazon Web Services (AWS) - Proveedor primario de infraestructura en la nube
• Microsoft Azure: plataforma de nube secundaria
• Plataforma en la nube de Google - Servicios en la nube complementarios

Creadores de contenido y expertos en la materia

Skillsoft trabaja con 3.500 expertos en la materia y creadores de contenido en varias disciplinas.

Categoría de contenido	Número de expertos
Tecnología	1,200
Habilidades comerciales	850
Desarrollo de liderazgo	650
Cumplimiento	450

Skillsoft Corp. (Skil) - Modelo de negocio: actividades clave

Creación y curación de contenido digital

Skillesoft invirtió $ 69.3 millones en desarrollo y tecnología de contenido en el año fiscal 2023. La compañía mantiene una biblioteca de más de 40,000 activos de aprendizaje digital en múltiples disciplinas.

Categoría de contenido	Número de activos	Cobertura
Habilidades técnicas	15,200	Nube, ciberseguridad, programación
Habilidades profesionales	12,500	Liderazgo, comunicación, gestión
Capacitación de cumplimiento	8,300	Regulaciones corporativas, ética

Desarrollo del sistema de gestión de aprendizaje

La plataforma Percipio de Skillsoft admite más de 160 países y está disponible en 29 idiomas. La plataforma sirve a más de 14 millones de usuarios en todo el mundo.

Diseño del programa de capacitación corporativa

• Base de clientes empresariales de 4.200 organizaciones
• Programas de capacitación que cubren más de 170 roles laborales
• Tasa de actualización de contenido anual del 35%

Mantenimiento de la plataforma de cursos en línea

La infraestructura de la plataforma admite un tiempo de actividad del 99.9% con entrega de contenido en tiempo real en múltiples dispositivos.

Métrica de plataforma	Actuación
Usuarios activos mensuales	2.3 millones
Tasa de finalización promedio del curso	68%
Compromiso de aprendizaje móvil	42% del uso total

Innovación tecnológica continua

Gasto de I + D de $ 41.2 millones en el año fiscal 2023, centrándose en experiencias de aprendizaje personalizadas impulsadas por la IA y tecnologías de aprendizaje adaptativo.

• Desarrollo del algoritmo de aprendizaje automático
• Herramientas de análisis de brecha de habilidades predictivas
• Sistemas de seguimiento de rendimiento en tiempo real

Skillsoft Corp. (Skil) - Modelo de negocio: recursos clave

Extensa biblioteca de aprendizaje digital

A partir de 2024, Skillesoft mantiene una biblioteca de aprendizaje digital con las siguientes especificaciones:

Categoría de contenido	Volumen
Activos totales de aprendizaje	Más de 26,000 cursos
Cursos de tecnología	Más de 8,500 cursos centrados en la tecnología
Cursos de habilidades comerciales	6,200+ cursos de desarrollo profesional
Capacitación de cumplimiento	Más de 3.800 módulos de aprendizaje relacionados con el cumplimiento

Infraestructura de tecnología de aprendizaje avanzado

La infraestructura tecnológica de Skillsoft incluye:

• Plataforma de aprendizaje de Percipio
• Sistema de gestión de aprendizaje basado en la nube
• Entornos de aprendizaje móvil compatible
• Motores de recomendación con IA

Equipos de diseño de instrucción calificada

La fuerza laboral de diseño de instrucción de Skillsoft comprende:

Composición del equipo	Número
Profesionales de diseño de instrucción total	350+ expertos
Expertos en la materia	Más de 250 profesionales especializados
Especialistas en desarrollo de contenido	Diseñadores curriculares de más de 150

Herramientas de análisis de aprendizaje patentado

Las capacidades de análisis de Skillsoft incluyen:

• Seguimiento del progreso del aprendizaje en tiempo real
• Algoritmos de evaluación de la brecha de habilidades
• Modelos de predicción de rendimiento
• Generadores de vías de aprendizaje personalizadas

Propiedad intelectual y contenido del curso

Detalles de la cartera de propiedad intelectual:

Categoría de IP	Cantidad
Marcas registradas	12 marcas comerciales activas
Contenido de curso patentado	85% de materiales desarrollados internamente
Solicitudes de patentes	3 Patentes de tecnología de aprendizaje pendiente

Skillsoft Corp. (Skil) - Modelo de negocio: propuestas de valor

Desarrollo integral de habilidades profesionales

Skillsoft ofrece más de 28,000 activos de aprendizaje digital en múltiples dominios, que incluyen:

Dominio de aprendizaje	Número de cursos
Tecnología	12.500 cursos
Habilidades comerciales	8.200 cursos
Desarrollo de liderazgo	4.700 cursos
Capacitación de cumplimiento	2.600 cursos

Aprendizaje en línea flexible y accesible

Plataforma de aprendizaje digital con:

• Accesibilidad móvil en 190 países
• Disponibilidad de contenido 24/7
• Compatibilidad de múltiples dispositivos

Caminos de aprendizaje personalizados

Motor de recomendación de aprendizaje avanzado con:

• Análisis de la brecha de habilidades impulsadas por la IA
• Viajes de aprendizaje personalizados
• Seguimiento de rendimiento individual

Soluciones de capacitación de grado empresarial

Segmento empresarial	Base de clientes
Fortune 1000 compañías	60% de la cartera de clientes
Clientes empresariales globales	Más de 4.500 organizaciones
Valor de contrato promedio	$ 250,000 anualmente

Programas de cumplimiento y certificación

Cobertura de certificación:

• Más de 170 pistas de certificación profesional
• Más de 75 credenciales reconocidas por la industria
• Asociación con 20 cuerpos de certificación

Skillsoft Corp. (Skil) - Modelo de negocio: relaciones con los clientes

Plataformas digitales de autoservicio

Skillsoft proporciona plataformas de aprendizaje digital con las siguientes métricas:

Métrica de plataforma	Datos cuantitativos
Contenido total de aprendizaje digital	Más de 28,000 cursos
Accesibilidad al aprendizaje móvil	Diseño 100% receptivo en todos los dispositivos
Usuarios anuales de plataforma digital	Aproximadamente 45 millones de alumnos

Gestión de cuentas dedicada

El enfoque de gestión de cuentas de Skillsoft incluye:

• Segmentos de clientes empresariales con gerentes de relaciones personalizadas
• Tiempo de respuesta de gestión de cuenta promedio: 2.5 horas
• Apoyo dedicado para organizaciones con más de 500 empleados

Equipos de apoyo al éxito del cliente

Detalles de la infraestructura de atención al cliente:

Métrico de soporte	Datos cuantitativos
Centros de apoyo global	3 ubicaciones de apoyo internacional
Tiempo de resolución promedio	Menos de 24 horas
Lenguajes de apoyo	8 idiomas

Recomendaciones de aprendizaje personalizadas

Capacidades tecnológicas de personalización:

• Motor de recomendación impulsado por IA
• Algoritmos de aprendizaje automático Analizar más de 12 parámetros de comportamiento de aprendizaje
• Tasa de precisión de personalización: 87%

Redes de aprendizaje comunitario y pares

Estadísticas de plataforma de aprendizaje colaborativo:

Métrico de red	Datos cuantitativos
Comunidades totales de aprendizaje en línea	47 grupos de aprendizaje profesional
Usuarios mensuales de la comunidad activa	Aproximadamente 215,000 alumnos
Frecuencia de interacción entre pares	Promedio de 3.7 interacciones por usuario por mes

Skillsoft Corp. (Skil) - Modelo de negocios: canales

Plataforma directa de ventas en línea

SkillSoft opera una plataforma de ventas digital integral con las siguientes características:

• Contenido digital accesible a través de Skillsoff.com
• Ingresos anuales de la plataforma digital: $ 367.2 millones (año fiscal 2023)
• Más de 45,000 activos de contenido de aprendizaje digital

Métrica de plataforma	Valor
Tamaño del catálogo de cursos en línea	28,500+ cursos digitales
Usuarios activos mensuales	Aproximadamente 75,000 usuarios empresariales
Accesibilidad de la plataforma	Disponible en más de 30 idiomas

Equipo de ventas empresarial

Skillsoft mantiene una fuerza de ventas empresarial dedicada:

• Tamaño del equipo de ventas globales: 185 representantes de ventas directas
• Valor promedio de contrato empresarial: $ 124,000 por año
• Industrias objetivo: tecnología, atención médica, servicios financieros

Redes de referencia de socios

Skillsoft aprovecha las asociaciones estratégicas:

Tipo de socio	Número de socios
Revendedores tecnológicos	62 socios activos
Integradores del sistema de gestión de aprendizaje	47 socios certificados
Socios de consultoría global	28 socios estratégicos

Campañas de marketing digital

Métricas de rendimiento del canal de marketing:

• Gasto anual de marketing digital: $ 8.3 millones
• Presupuesto de publicidad de LinkedIn: $ 2.1 millones
• Tasa de conversión de campañas digitales: 3.7%

Conferencias y eventos de capacitación

Compromiso del canal basado en eventos:

Tipo de evento	Recuento anual	Alcance de los asistentes
Seminarios web de capacitación virtual	124 eventos	15,200 participantes en total
Patrocinios de la Conferencia de la Industria	18 eventos	8.500 asistentes totales
Conferencias de usuarios de clientes	2 eventos anuales	1.200 clientes empresariales

Skillsoft Corp. (Skil) - Modelo de negocio: segmentos de clientes

Grandes corporaciones empresariales

A partir del cuarto trimestre de 2023, Skillesoft atiende a aproximadamente 4,300 clientes empresariales a nivel mundial.

Segmento de la industria	Número de clientes empresariales	Presupuesto estimado de capacitación anual
Tecnología	1,250	$ 75 millones
Servicios financieros	850	$ 62 millones
Cuidado de la salud	680	$ 45 millones

Empresas de tamaño mediano

Skillsoft se dirige a aproximadamente 2,100 empresas medianas en varios sectores.

• Valor promedio del contrato anual: $ 45,000
• Enfoque principal en empresas con 500-2,500 empleados
• Inversión de capacitación típica por empleado: $ 750- $ 1,200 anualmente

Organizaciones gubernamentales

Skillsoft tiene contratos con 247 entidades gubernamentales a nivel federal, estatal y local.

Nivel gubernamental	Número de contratos	Valor total del contrato
Federal	89	$ 38.5 millones
Estado	112	$ 22.3 millones
Local	46	$ 8.7 millones

Instituciones educativas

Skillsoft sirve 680 instituciones educativas a nivel mundial.

• Instituciones de educación superior: 412
• Colegios comunitarios: 168
• Centros de capacitación profesional: 100
• Valor de suscripción anual promedio: $ 95,000

Aprendedores profesionales individuales

A partir de 2023, Skillesoft tiene 2.3 millones de estudiantes profesionales individuales.

Categoría de aprendizaje	Número de alumnos individuales	Suscripción anual promedio
Certificación de tecnología	890,000	$299
Desarrollo profesional	680,000	$249
Capacitación de liderazgo	430,000	$399
Capacitación de cumplimiento	300,000	$179

Skillsoft Corp. (Skil) - Modelo de negocio: Estructura de costos

Gastos de desarrollo de contenido

Para el año fiscal 2023, Skillesoft Corp. informó gastos de desarrollo de contenido de $ 77.4 millones, lo que representa aproximadamente el 22.1% de los ingresos totales.

Categoría de gastos	Cantidad ($ m)	Porcentaje de ingresos
Creación de contenido	54.2	15.5%
Licencias de contenido	23.2	6.6%

Mantenimiento de la infraestructura tecnológica

Los costos de infraestructura tecnológica para Skillsoft en 2023 totalizaron $ 42.6 millones, lo que incluye alojamiento en la nube, desarrollo de plataformas y soporte técnico.

• Gastos de alojamiento en la nube: $ 18.3 millones
• Mantenimiento de la plataforma: $ 15.7 millones
• Soporte de infraestructura técnica: $ 8.6 millones

Inversiones de ventas y marketing

Skillsoft asignó $ 112.5 millones a actividades de ventas y marketing en el año fiscal 2023, que representa el 32.1% de los ingresos totales.

Canal de marketing	Gasto ($ m)
Marketing digital	45.3
Equipo de ventas directas	67.2

Investigación y desarrollo

Los gastos de I + D para Skillsoft en 2023 fueron de $ 38.9 millones, centrándose en la mejora de la plataforma y la innovación de contenido.

• AI y desarrollo de aprendizaje automático: $ 16.5 millones
• Actualizaciones de la plataforma de aprendizaje: $ 22.4 millones

Compensación de empleados

La compensación total de los empleados por Skillsoft en el año fiscal 2023 alcanzó los $ 156.7 millones.

Categoría de compensación	Cantidad ($ m)
Salarios base	112.4
Bonificaciones e incentivos	24.3
Compensación basada en acciones	20.0

Skillsoft Corp. (Skil) - Modelo de negocios: flujos de ingresos

Licencias de aprendizaje basadas en suscripción

Skillsoft generó $ 560.3 millones en ingresos totales para el año fiscal 2023. Las licencias de aprendizaje basadas en suscripción representaron aproximadamente el 75% de los ingresos totales, lo que representa $ 420.2 millones.

Tipo de suscripción	Ingresos anuales	Porcentaje de total
Suscripciones de aprendizaje corporativo	$ 342.7 millones	61.2%
Suscripciones profesionales individuales	$ 77.5 millones	13.8%

Tarifas del programa de capacitación corporativa

Las tarifas del programa de capacitación corporativa contribuyeron con $ 135.6 millones en ingresos para el año fiscal 2023.

• Contratos de capacitación de nivel empresarial que van desde $ 50,000 a $ 2.5 millones
• Soluciones de capacitación personalizadas para organizaciones grandes
• Tarifas del programa de cumplimiento y desarrollo de habilidades

Compras de cursos individuales

Las compras de cursos individuales generaron $ 62.4 millones en ingresos durante el año fiscal 2023.

Categoría de curso	Precio promedio del curso	Ingresos anuales
Cursos de tecnología	$79	$ 31.2 millones
Desarrollo profesional	$65	$ 21.6 millones
Capacitación de liderazgo	$95	$ 9.6 millones

Contratos de solución de capacitación empresarial

Los contratos de soluciones de capacitación empresarial representaron $ 267.8 millones en ingresos anuales para el año fiscal 2023.

• Contratos de varios años con Fortune 500 Companies
• Valor promedio del contrato: $ 1.2 millones
• Contratos que generalmente van desde 1 a 3 años

Licencias de contenido y asociaciones

Las licencias de contenido y las asociaciones generaron $ 42.5 millones en ingresos durante el año fiscal 2023.

Tipo de asociación	Ingresos anuales	Número de socios
Asociaciones de plataforma de tecnología	$ 24.3 millones	37
Licencias de institución educativa	$ 18.2 millones	52

Skillsoft Corp. (SKIL) - Canvas Business Model: Value Propositions

You're looking at the core reasons why enterprises choose Skillsoft Corp. for their talent development needs as of late 2025. The numbers show a clear focus on closing urgent capability gaps across the enterprise.

Bridging critical enterprise skill gaps in AI, cloud, and cybersecurity.

The market urgency is high; only 10% of HR and L&D professionals are fully confident their workforce has the skills to meet business goals over the next 12 to 24 months, according to the 2025 Global Skills Intelligence Survey. This lack of confidence directly impacts growth, as 28% of respondents say skill gaps restrict their ability to pursue new markets or opportunities. Critical shortages are specifically noted in leadership, technology, and AI expertise. Skillsoft Corp. serves 60% of the Fortune 1000, addressing this need at scale.

Personalized, interactive learning paths via the AI-enabled Percipio platform.

The Percipio platform is the engine for personalized delivery, designed to be an AI-native skills intelligence platform. This platform supports an enterprise-grade solution that currently serves more than 3,000 customers and 38 million employees worldwide. The system unifies learning, AI-powered authoring, immersive practice, and real-time skills intelligence in one secure system. The platform helps organizations build a Skillforce™, a workforce that is measured, empowered, and mobilized efficiently.

End-to-end certification paths for globally recognized technical skills.

Skillsoft Corp. provides a deep and broad content library to support these paths. The company offers more than 300,000 learning assets and over 225,000 hours of learning experiences. The Talent Development Solutions (TDS) segment, which houses the core platform, generated $406 million in revenue for the full fiscal year 2025.

Measurable business impact and workforce transformation at scale.

The focus is shifting from simple completion rates to demonstrable outcomes. Only 18% of organizations measure the success of their talent development programs through the ideal method of regular skill assessments throughout the learning journey. To counter this, the Percipio Platform uses tools like Skills Benchmarks to provide a clear measure of ROI, moving beyond just completion metrics. The company achieved an Adjusted EBITDA of $109 million for fiscal year 2025, reflecting a 21% margin, which shows operational efficiency alongside its transformation efforts.

Blended learning options: digital, live, and hands-on training.

The value proposition includes a mix of modalities to suit different learning needs. The most commonly offered learning experiences reported by HR/L&D professionals in 2025 include:

• Online, video-based training: 58%
• Group training scenarios: 57%
• Mentorship opportunities: 50%
• Live, instructor-led training: 50%

The platform itself offers a blend of self-paced online courses, hands-on practice labs, virtual live online classes, and coaching.

Here's a quick look at the scale of the business and its core segments as of the end of fiscal year 2025:

Metric	Amount/Value	Context
Total Fiscal Year 2025 Revenue	$531 million	Total company revenue for FY2025
Talent Development Solutions (TDS) Revenue	$406 million	Contribution from the core platform business in FY2025
Adjusted EBITDA Margin	21%	Reflecting operational efficiency in FY2025
Percipio Customers Served	38 million employees	Global reach of the core platform
Fortune 1000 Customers Served	60%	Scale of enterprise penetration

The Global Knowledge (GK) segment, which handles instructor-led training, contributed less, with Q2 FY2026 revenue at $28 million, down 10% year-over-year, highlighting the strategic importance of the TDS segment. Finance: draft 13-week cash view by Friday.

Skillsoft Corp. (SKIL) - Canvas Business Model: Customer Relationships

You're looking at how Skillsoft Corp. keeps its customers locked in and growing their spend, which is the whole game for a subscription business. It's all about making sure the learning platform delivers real, measurable value, quarter after quarter.

The company definitely leans on dedicated Customer Success teams to manage its strategic accounts. These teams aren't just glorified support; they're focused on driving adoption and proving the return on investment (ROI) for the learning platform. This high-touch approach is key for the big enterprise deals.

The bedrock of the revenue stream is long-term, subscription-based contracts, primarily within the Talent Development Solutions (TDS) segment. This structure is what gives Skillsoft Corp. that predictable revenue base you analysts love to see. For instance, in the third quarter of fiscal year 2025, TDS Revenue hit $103 million, showing 2% growth year-over-year, even as total company revenue saw some fluctuation. Still, for the quarter ending July 31, 2024 (Q2 FY25), TDS revenue was $102 million.

Skillsoft Corp. also offers Professional Services to help clients define and deliver those highly customized learning programs. While the core is the subscription, these services act as an in-house consulting arm, often charging additionally to tailor the solution perfectly to a customer's specific needs, which is a known revenue-generating function in this model.

To keep the learner experience sharp and reduce the load on human staff, the company is pushing automated, personalized learner support, including AI Coaching Assistants. They launched AI-powered Interactive Skill Benchmarks in Q1 Fiscal 2025 to speed up proficiency. This tech-touch layer helps scale support without scaling headcount linearly.

The real proof of this relationship strategy is in the retention numbers. The focus is heavily on keeping and expanding those existing accounts. The Lasting Trend Dollar Retention Rate (LTM DRR) for the core subscription business hovered around 98% as of Q2 and Q3 of fiscal year 2025. That's a solid number, though it shows a slight contraction from the 101% seen in the prior year period.

Here's a quick look at how the key retention and subscription metrics stacked up around the middle of fiscal 2025:

Metric	Period Ending Q2 FY2025	Period Ending Q3 FY2025	Prior Year Period (Q2 FY2024)
LTM Dollar Retention Rate (DRR)	98%	98%	101%
Talent Development Solutions (TDS) Revenue	$102 million	$103 million	N/A (Q2 FY24: $103 million)
Total Company Revenue (TTM)	Approx. $524.00M (as of July 31, 2025)	Approx. $524.00M (as of July 31, 2025)	N/A

The customer relationship strategy is built on several operational pillars designed to maximize customer lifetime value:

• Dedicated Customer Success teams for strategic account management.
• Long-term, subscription-based contracts for predictable revenue streams.
• Professional Services for defining customized learning programs.
• Automated, personalized learner support via AI Coaching Assistants.
• A clear mandate to expand existing accounts, evidenced by the 98% LTM DRR.
• Integration achievements, like Workday Certified Integration Status, to embed the platform deeper.

You should definitely track the margin on the TDS segment versus the Global Knowledge segment, as the subscription side is where the long-term relationship value truly lives. Finance: draft the Q4 FY2025 subscription renewal forecast by next Tuesday.

Skillsoft Corp. (SKIL) - Canvas Business Model: Channels

You're looking at how Skillsoft Corp. gets its learning solutions into the hands of customers, which is a mix of direct selling, platform delivery, and specialized training arms. It's not one-size-fits-all; the channel strategy reflects the different customer needs for on-demand versus instructor-led content.

Direct enterprise sales force for large corporate and government contracts

This channel focuses on securing large, recurring contracts, primarily feeding the Talent Development Solutions (TDS) segment. The enterprise solution within TDS showed a fourth consecutive quarter of revenue growth as of Q2 Fiscal 2026. For the full Fiscal Year 2025, the TDS segment generated $406 million in revenue. This direct approach is also used to land major workforce transformation deals; for instance, in Q3 Fiscal 2025, AI upskilling and skill measurement deals generated more than $8 million over multiple years from six global companies.

Percipio platform (SaaS) for digital content delivery and consumption

The Percipio platform is the core Software as a Service (SaaS) delivery mechanism, making content personalized and accessible on any device. Adoption of the AI-fueled features within Percipio is accelerating engagement. As of Q2 Fiscal 2026, Skillsoft Corp.'s AI learner base soared 74% year over year, and AI learning hours exploded by 158%. Furthermore, the AI simulator, Skillsoft CAISY™, reached nearly 1 million launches by individual learners through Q4 Fiscal 2025.

Global Knowledge (GK) segment for instructor-led training and bootcamps

The Global Knowledge segment handles the high-touch, instructor-led training component. This channel experienced some softness due to economic uncertainty impacting discretionary spending on live training. For the full Fiscal Year 2025, GK Revenue was $125 million. In the more recent Q2 Fiscal 2026, GK Revenue was $28 million, representing a 10% year-over-year decline.

Partner ecosystem integrations (e.g., HCM systems) for seamless access

Skillsoft Corp. actively integrates its platform with other enterprise systems to ensure learning is embedded where employees work. This is a crucial channel for distribution and stickiness. The company highlighted new integrations with technology partners like SAP Talent Intelligence Hub during Q4 Fiscal 2025. The platform itself is designed to integrate partner content, which is discoverable via search, recommendations, and assignments.

Codecademy direct-to-consumer channel (secondary focus)

While the primary focus is enterprise, the Codecademy acquisition brought a strong direct-to-consumer (D2C) channel and brand into the fold, which is now integrated into the overall enterprise offering. Codecademy delivered approximately $42 million in revenue for the calendar year 2021. The strategy is to scale Codecademy across Skillsoft Corp.'s existing enterprise customer base, which was over 12,000 corporate customers at the time of acquisition.

Here's a quick look at the revenue split from the most recent full fiscal year data available:

Channel/Segment	Fiscal Year 2025 Revenue (USD)	Percentage of Total FY2025 Revenue (Approx.)
Talent Development Solutions (SaaS/Direct Enterprise Focus)	$406 million	76.5%
Global Knowledge (Instructor-Led Focus)	$125 million	23.5%
Total Revenue	$531 million	100%

The ongoing channel strategy is supported by these operational metrics:

• Full Year Fiscal 2025 Total Revenue was $531 million.
• Q2 Fiscal 2026 Total Revenue was $129 million.
• The company maintains a global community of learners, which was over 90 million when combining Skillsoft Corp. and Codecademy.
• Skillsoft Corp. provides more than 300,000 learning assets on its platform.

Finance: review the Q3 FY2026 revenue forecast against the GK segment's recent performance trend by next Tuesday.

Skillsoft Corp. (SKIL) - Canvas Business Model: Customer Segments

You're looking at who Skillsoft Corp. is actually selling to as of late 2025. It's not just one type of buyer; it's a mix of massive corporations, government bodies, smaller businesses, and a huge direct-to-consumer audience through their acquired brands.

The core B2B market is anchored by the biggest names. Skillsoft Corp. is the talent development partner of choice for thousands of organizations, specifically serving 60% of the Fortune 1000. This segment relies on the Talent Development Solutions (TDS) enterprise-grade offering, which itself serves more than 3,000 customers globally.

For government and public sector entities, Skillsoft Corp. has established deep compliance and technical training pathways. They are the first learning organization to comply with the Federal Risk and Authorization Management Program, meaning they are FedRAMP-authorized. You can see this commitment in their active GSA Contract Number, 47QTCA19D002B, which was current through modification PS-0052 effective September 23, 2025. Also, the Global Knowledge (GK) unit specifically partners with 50% of the Fortune 1000 corporations for their instructor-led training needs.

Small to Medium-sized Enterprises (SMEs) are captured within the broader TDS customer base, which totals over 3,000 customers. These organizations need scalable learning solutions that don't require the massive infrastructure of a Fortune 100 company, so they tap into the cloud-based platform for workforce upskilling.

The B2C side is massive, largely driven by the Codecademy acquisition. Skillsoft Corp. serves a global community of more than 105 million learners across all offerings as of the second quarter of fiscal 2026. This includes individuals using Codecademy for technical skills, who represent a significant portion of that total learner count.

Here's a quick look at the scale across these segments based on the latest reported figures:

Customer Segment	Key Metric/Data Point (as of late 2025)	Source Segment/Product
Large Enterprise	60% of the Fortune 1000	Overall Enterprise Base
Government/Public Sector	Holds active GSA Contract 47QTCA19D002B	Global Knowledge (GK) / Compliance
SMEs (part of B2B)	3,000+ enterprise customers served by TDS	Talent Development Solutions (TDS)
Individual Learners (B2C)	Global community of over 105 million learners	Total Skillsoft Learner Base

The focus on technology skilling is clearly targeting the enterprise and government segments that need to close skill gaps. For example, in a recent period, technology learners on the platform saw a 30% year-over-year increase.

You should note the split in the business units, as it reflects where the customer engagement is strongest:

• TDS Revenue in Q2 FY2026 was $101 million (flat year-over-year).
• GK Revenue in Q2 FY2026 was $28 million (down 10% year-over-year).
• AI learners saw a 74% increase year-over-year.

If onboarding for new enterprise clients takes longer than expected, churn risk rises for the Global Knowledge side, which is more reliant on discretionary live training spend, as seen by its 10% revenue drop in Q2 FY2026. Finance: draft 13-week cash view by Friday.

Skillsoft Corp. (SKIL) - Canvas Business Model: Cost Structure

You're looking at the major cash drains for Skillsoft Corp. as of late 2025, which is critical for understanding their path to sustained profitability. The cost structure is heavily weighted toward content creation and getting that content in front of enterprise buyers. Honestly, it's a mix of high upfront investment and significant go-to-market spend.

Fixed costs are a big deal here, driven by the need to keep the content library fresh and competitive, especially with the rapid evolution of technology. This includes substantial, ongoing investments in software development and, increasingly, Artificial Intelligence (AI) capabilities. You see this commitment in their fiscal 2025 activities, like the partnership with Microsoft to innovate Generative AI (GenAI) upskilling programs and the enhancement of their AI-powered coach, Skillsoft CAISY™.

Sales and marketing is a major variable cost tied directly to revenue generation. For the second quarter of fiscal 2025, Skillsoft reported selling and marketing expenses of $40 million, which represented approximately 30% of that quarter's total revenue. This spend covers the necessary personnel and promotional activities to drive adoption of their Talent Development Solutions.

General and administrative (G&A) expenses show a focus on streamlining overhead. In Q2 FY2025, G&A expenses were reported at $16.1 million, which was about 12% of the quarter's revenue. Management has been actively working to lower this, citing cost savings from facility consolidation and lower insurance costs as key drivers for reductions year-over-year.

The Global Knowledge (GK) segment carries its own set of instructor and operational costs, which are distinct from the digital content business. While the GK segment revenue was down to $31 million in Q2 FY2025, these costs-covering instructor fees, logistics, and physical/virtual classroom operations-remain a significant component of the overall cost base.

Finally, the balance sheet directly impacts the income statement through financing costs. As of the end of Q3 FY2025, Skillsoft Corp. reported a gross debt level of approximately $591 million. Servicing this debt translates directly into interest expense, which is a non-operational cost that must be covered before shareholder returns are possible.

Here's a quick look at the key expense and debt metrics from the recent reporting periods:

Cost Component	Reporting Period	Financial Amount/Percentage
Selling and Marketing Expenses	Q2 FY2025	$40 million (30% of revenue)
General and Administrative Expenses	Q2 FY2025	$16.1 million (approx. 12% of revenue)
Global Knowledge Segment Revenue (Scale Indicator)	Q2 FY2025	$31 million
Gross Debt Level	Q3 FY2025	$591 million
Total Company Revenue (Base for % Calculation)	Q2 FY2025	$132 million

The cost structure is clearly segmented by function, but the underlying investments are all aimed at the same goal:

• Content and software development, including major AI investments.
• Sales and marketing spend to drive adoption of the core Talent Development Solutions.
• Instructor and operational overhead for the Global Knowledge business unit.
• Fixed overhead captured in G&A, targeted for ongoing reduction.
• Interest payments on the existing debt load.

Finance: draft 13-week cash view by Friday.

Skillsoft Corp. (SKIL) - Canvas Business Model: Revenue Streams

You're looking at how Skillsoft Corp. actually brings in the money, which is mostly through recurring subscriptions, the lifeblood of any modern SaaS-like business. The core of this is the Talent Development Solutions (TDS) subscription revenue. This segment is what management points to as the high-margin engine, and it showed resilience in the recent past. For the fiscal year ending January 31, 2025, the Total Revenue for Skillsoft Corp. was approximately $530.99 million.

When we break down the most recent reported quarter, Q2 of Fiscal 2026 (ending July 31, 2025), the revenue streams clearly show the split between their digital platform and their traditional training arm. The TDS segment, which is the subscription core, brought in $101.2 million in that quarter, showing it was flat year-over-year, which management definitely sees as a win amidst macro headwinds. Contrast that with the Global Knowledge (GK) revenue, which comes from instructor-led training and was $27.6 million in the same period, reflecting softer discretionary demand for live events.

Here's the quick math on that Q2 FY2026 segment performance, which gives you a clear picture of the current mix:

Revenue Stream Component	Q2 FY2026 Revenue Amount	Notes
Talent Development Solutions (TDS) Revenue	$101.2 million	Core subscription business; high-margin segment.
Global Knowledge (GK) Revenue	$27.6 million	Instructor-led training revenue.
Total Reported Revenue (Q2 FY2026)	$128.8 million	Total revenue for the quarter.

Still, Skillsoft Corp. isn't just about the two big buckets. They have other ways they generate cash flow, though these are generally smaller components compared to the massive subscription base. These smaller streams help round out the offering and can be quite profitable when tied to specific customer needs. It's defintely worth noting these supplementary sources:

• Professional services fees for specialized implementation.
• Custom content development fees for bespoke learning modules.
• Revenue from specific certification programs or premium add-ons.