Skillsoft (US:SKIL)2024-06-10 21:22Financial Performance - Total Revenue declined by 6% year-over-year[7] - Content & Platform segment Revenue was comparably flat year-over-year[7] - Instructor-Led Training segment Revenue declined by 20% year-over-year, including a ~2% impact from exiting an apprenticeship business[15] - Adjusted EBITDA was $19 million, representing 14.8% of Revenue, down $3 million and 120bps year-over-year[16] - Non-GAAP Operating Expenses were $109 million, down 4% year-over-year[28] - Free Cash Flow was $10 million[28] Segment Performance & Metrics - Content & Platform segment Revenue was $98.1 million, declining less than 1% year-over-year[25] - Content & Platform segment now accounts for 77% of total Revenue, up from 68% two years ago[26] - The company delivered a first quarter LTM Content & Platform Dollar Retention Rate of approximately 99%, compared to approximately 101% in the prior year[24] Liquidity - The company ended the quarter with $142 million in cash & cash equivalents and $8 million of restricted cash[16]