DALLAS - The Mark Cuban Foundation, known for its free AI bootcamps for high school students, has teamed up with Skillsoft's Codecademy to offer free Codecademy Pro subscriptions. This collaboration aims to enhance coding and AI education for underserved high schoolers. The initiative will allow students completing the foundation's AI bootcamps in November 2024 to continue their education with Codecademy's comprehensive technology courses.
Mark Cuban highlighted the importance of this partnership, stating that it creates a "pipeline ready for future innovations" by preparing today's youth for technology careers. The Codecademy Pro subscriptions will provide interactive learning experiences in AI, data science, and various coding disciplines, supporting students in their pursuit of in-demand career paths.
Skillsoft's GM of Talent Development Solutions, Apratim Purakayastha, emphasized the critical need to equip the next generation with essential tech skills amidst the industry's rapid evolution. The partnership is a step towards democratizing high-quality AI and coding education, fostering a well-prepared and innovative workforce.
The Mark Cuban Foundation's AI Bootcamps Program targets 9th to 12th graders from underserved communities, offering insights into AI's role in daily life and its ethical implications. Skillsoft, listed on the NYSE as SKIL, provides transformative learning experiences through Codecademy, which serves over 60 million learners globally with its extensive tech-focused curriculum.
The free Codecademy Pro subscriptions will grant students access to over 600 courses, skill paths, and career guides. Features include personalized practice, projects to gain real-world experience, AI assistance, certifications, and a global community of learners. This initiative is based on a press release statement from the Mark Cuban Foundation.
In other recent news, Skillsoft Corp. has announced a series of significant developments. The company reported a year-over-year decrease in its Q1 fiscal 2025 revenue, landing at $128 million. Despite this downturn, Skillsoft remains steadfast in its full-year revenue guidance, projected between $530 million and $550 million. Additionally, Skillsoft has approved a plan to expand its stock incentive program and has agreed to a $200,000 retention payment to a key executive, Apratim Purakayastha, as part of a strategic retention strategy.
Skillsoft has also made changes to its board, appointing tech and finance veterans Jim Frankola and Fahd Beg, and has partnered with Microsoft (NASDAQ:MSFT) to launch a generative AI skilling program. Analysts from Oppenheimer maintained a Perform rating on Skillsoft, acknowledging the company's future financial targets and resource reallocation strategy aimed at supporting growth initiatives. These recent developments reflect Skillsoft's ongoing efforts to enhance its competitive positioning and foster growth.
InvestingPro Insights
As Skillsoft (NYSE: SKIL) collaborates with the Mark Cuban Foundation to offer free Codecademy Pro subscriptions to underserved high schoolers, it's crucial to understand the company's current financial health. Skillsoft operates with a significant debt burden and may have trouble making interest payments on its debt, as highlighted by two InvestingPro Tips.
From a financial perspective, Skillsoft's market capitalization stands at $99.26 million, illustrating the company's size in the competitive e-learning industry. Despite a challenging financial landscape, Skillsoft boasts an impressive gross profit margin of 72.54% for the last twelve months as of Q1 2023, indicating strong operational efficiency in generating revenue from its services. However, the company's Price / Book ratio of 0.54 suggests that the stock is trading at a relatively low valuation compared to the company's book value, which may attract value investors looking for potential growth opportunities.
InvestingPro Data also shows that Skillsoft has experienced a revenue decline of 1.86% over the last twelve months as of Q1 2023, reflecting the hurdles the company faces in expanding its top-line growth. Additionally, the stock has seen a significant price drop of 53.84% over the last year, indicating that the market has had concerns about the company's performance and future prospects.
For investors and stakeholders considering Skillsoft's stock, it's worth noting that the company has 3 analysts who have revised their earnings upwards for the upcoming period, suggesting a potential improvement in the company's financial outlook. Moreover, Skillsoft's commitment to social initiatives, such as the partnership with the Mark Cuban Foundation, may enhance its brand value and attract a socially conscious investor base.
For a deeper analysis and more InvestingPro Tips, interested parties can explore Skillsoft's financials and expert insights on InvestingPro. Currently, there are over 10 additional InvestingPro Tips available for Skillsoft, offering a comprehensive view of the company's financial health and stock performance.
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