Skillsoft Corp. granted 150,000 restricted stock units (RSUs) to Ronald Kisling as a material inducement for his appointment as Chief Financial Officer on May 19, 2026. The Talent and Compensation Committee of Skillsoft's Board of Directors approved the grant on June 12, 2026, under the company's 2024 Employment Inducement Incentive Award Plan. This award was issued in reliance on the employment inducement exemption under NYSE Listed Company Manual Rule 303A.08.

The vesting schedule for the RSUs is divided into two distinct categories. Half of the granted RSUs, totaling 75,000 units, will vest ratably over a four-year period. The remaining 50% are performance-based RSUs, with vesting outcomes ranging from 0% to 200% of the target amount granted, contingent upon the achievement of specified annual bookings growth targets.

Vesting Structure

The performance-based portion of the grant is subject to certification by the Talent and Compensation Committee and depends on Ronald Kisling's continued employment with the company through the vesting date. The potential maximum vesting for this portion is up to 150,000 shares, representing a 200% achievement of the target.

Skillsoft Corp. is a global leader in skills management for the human + AI era, providing an AI-native platform to build workforce capability. The company's platform is designed to close skill gaps and demonstrate the impact of skills on business outcomes.

Skillsoft Corporation reported a net loss of $18.7 million for the first quarter of fiscal 2027 ended April 30, 2026, an improvement of 37% compared to a net loss of $29.6 million in the prior year. The company's revenue for the quarter declined 5% to $94.5 million from $99.1 million year-over-year. Adjusted EBITDA remained flat at $26.6 million, while adjusted earnings per share rose to $1.16 from $1.15 in the same period last year. The decline in sales was primarily attributed to softness in government bookings and anticipated declines in the consumer business.

Financial Performance

The company's top-line performance contracted during the quarter, while profitability metrics showed signs of improvement. The following table details the key financial metrics for the reported period compared to the prior year.

The reduction in net loss and slight uptick in adjusted EPS suggest improvements in operational efficiency or cost management during the quarter. Adjusted total operating expenses were $67.9 million, down $4.5 million or 6.2% year over year.

Business Highlights

Skillsoft announced an agreement in May 2026 to sell its Global Knowledge business to an affiliate of Enduring Ventures, a move intended to center the company around its AI-native skills management platform. The company reported that new customer agreements for its next-generation Skillsoft Percipio Platform grew 67% quarter-over-quarter. Additionally, the Dollar Retention Rate (DRR) for the first quarter of 2027 was 105%, up significantly from 91% in the year-ago period.

Outlook

Skillsoft reaffirmed its financial outlook for the full fiscal year 2027. The company projects revenue to be between $388 million and $406 million, with Adjusted EBITDA expected to range from $108 million to $116 million. TDS Free Cash Flow is anticipated to be between $14 million and $22 million.