Slide 1: Earnings Supplement Q1 FY2026
Earnings Supplement Q1 FY2026 June 9, 2025 1
Slide 2: Cautionary Notes Regarding Forward Looking Statements
Cautionary Notes Regarding Forward Looking Statements This document includes statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For
Slide 3: Today's Call
Today’s Ron Hovsepian EXECUTIVE CHAIRMAN Call AND CHIEF EXECUTIVE OFFICER John Frederick • Opening Remarks Chief Financial Officer • Business Update • Q1 FY2026 Financial Results • FY2026 Outlook Stephen Poe INVESTOR RELATIONS • Q&A • Closing Remarks Webcast Details Webcast Link: https://event.choru
Slide 4: Ron Hovsepian Executive Chairman and Chief Executive Officer
“ We are pleased to have delivered first quarter results in line with expectations despite a challenging economic environment, particularly a softening of discretionary spending which disproportionately impacts our Global Knowledge business segment. This performance reflects the strength of our stra
Slide 5: Recent Business Highlights
Recent Business Highlights • Our TDS segment has now achieved three consecutive quarters of revenue growth. • GK has seen growth in the non-U.S. public sector and also has a strong pipeline. • Skillsoft CAISY , our award-winning AI-powered coach, is now available for learners in over 40 languages. •
Slide 6: Executing Our Transformation Plan
Executing Our Transformation Plan FY25-FY26 FY27+ FINANCIAL TARGET OUTCOMES FINANCIAL TARGET OUTCOMES $45M1+ annualized expense reduction in FY25 At or above-market growth Margin expansion in FY25 & FY26 Industry-leading financial profile Return to topline growth in FY26 FCF generation in FY26 KEY A
Slide 7: Customers Are Shifting Towards A Talent Development Lifecycle Approach
Customers Are Shifting Towards A Talent Development Lifecycle Approach Creating A $400B Market Opportunity Lifecycle Talent Champions Talent Development Approach Discrete, Silo’d Buyers of Online Learning Video-based, Interactive, Workforce Transformation Utilization Metrics Outcomes Learning Style
Slide 8: Investment Thesis
Investment Thesis Leveraging a unique and powerful Making immediate changes to “Fix The Executing a compelling “Invest To asset portfolio Basics” Grow” strategy positioned to win in the talent development and achieve profitable growth to capitalize on a significant and growing market industry opport
Slide 9: Q1 FY2026 Financial Highlights
Q1 FY2026 Financial Highlights Continued TDS revenue growth and strong Adjusted EBITDA profitability Q1 FY26 Talent Q1 FY26 Adjusted LTM Dollar EBITDA1 Development Retention Rate1 Solutions Revenue % of Revenue $99.1M ~99% $22.1M 18% ▲1% vs. Prior Year1 ~flat vs. Prior Year1 ▲~300bps vs. Prior Year1
Slide 10: Revenue
Revenue Revenue performed in line with our expectations despite macroeconomic uncertainty; Solid Talent Development Solutions execution with three consecutive quarters of YoY growth • Talent Development Solutions $141.2 $137.2 $139.0 $137.5 $132.2 ▼6% YoY $133.8 Revenue grew 1% in Q1 ’26 $38.0 $37.8
Slide 11: Profitability and Cash Flow
Profitability Transformation initiatives and disciplined expense management help drive continued YoY improvements in and Cash profitability, with free cash flow generation further aided by working capital timing Flow 1 Adjusted EBITDA ($Ms) Free Cash Flow ($Ms) • Q1 ‘26 Adjusted EBITDA of $22.1M was
Slide 12: Appendix
skillsoft® Appendix
Slide 13: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures We track the non-GAAP financial measures and key performance metrics that we believe are key financial measures of our success. Non-GAAP measures and key performance metrics are frequently used by securities analysts, investors, and other interested part
Slide 14: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures • Adjusted EBITDA is defined as net income (loss) excluding (when applicable to the periods presented) the same exclusions set forth above for the determination of adjusted net income (loss) plus the additional exclusions set forth below. Management beli
Slide 15: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 15
Slide 16: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 16