Skillsoft Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

Revenue (Tables)

6 Months Ended

Jul. 31, 2021

The following is a summary of revenues by type for the period from June 12, 2021 to July 31, 2021 (Successor), the period from May 1, 2021 to July 31, 2021 (Predecessor (SLH)), the period from February 1, 2021 to July 31, 2021 (Predecessor(SLH)), and the three months and six months ended July 31, 2021 (Predecessor (PL)), (in thousands):


	Successor		Predecessor (SLH)		Predecessor (PL)
	From		From	From
	June 12,		May 1, 2021	February 1,	Three months	Six months
	2021 to July		to June 11,	2021 to June	ended July 31,	ended July 31,
	31, 2021		2021	11, 2021	2020	2020
SaaS and subscription services	$	34,534	40,577	119,233	100,398	201,492
Software maintenance		1,637	1,938	5,984	5,119	10,378
Professional services		3,060	5,384	13,495	10,247	21,189
Perpetual software licenses		34	36	924	1,053	2,084
Hardware and other		8	—	—	18	21
Virtual, on-demand and classroom		18,639	—	—	—	—
Total net revenues ⁽¹⁾	$	57,912	47,935	139,636	116,835	235,164

The following table sets forth our revenues by geographic region for the period from June 12, 2021 to July 31, 2021 (Successor), the period from May 1, 2021 to July 31, 2021 (Predecessor (SLH)), the period from February 1, 2021 to July 31, 2021 (Predecessor (SLH) and the three months and six months ended July 31, 2021 (Predecessor (PL)), (in thousands):


	Successor		Predecessor (SLH)		Predecessor (PL)
	From		From	From
	June 12,		May 1, 2021	February 1,	Three months	Six months
	2021 to July		to June 11,	2021 to June	ended July 31,	ended July 31,
	31, 2021		2021	11, 2021	2020	2020
Revenue:
United States	$	36,572	34,913	101,884	90,565	181,242
Other Americas		4,495	3,042	8,724	4,762	11,238
Europe, Middle East and Africa		14,281	6,799	19,729	14,360	28,583
Asia-Pacific		2,564	3,181	9,299	7,148	14,101
Total net revenues ⁽¹⁾	$	57,912	47,935	139,636	116,835	235,164

Schedule of deferred revenue

Deferred revenue activity for the periods through July 31, 2021 was as follows (in thousands):


Deferred revenue at January 31, 2021 (Predecessor (SLH))	$	260,584
Billings deferred		109,450
Recognition of prior deferred revenue		(139,636)
Deferred revenue at June 11, 2021 (Predecessor (SLH))	$	230,398

Acquisition of Skillsoft and GK		146,318
Billings deferred		74,395
Recognition of prior deferred revenue		(57,912)
Acquisition of Pluma		4,848
Deferred revenue at July 31, 2021 (Successor)	$	167,649

Schedule of deferred contract acquisition costs

Deferred Contract Acquisition Costs

Deferred contract acquisition cost activity for the periods through July 31, 2021 was as follows (in thousands):


Deferred contract acquisition costs at January 31, 2021 (Predecessor (SLH))	$	7,584
Contract acquisition costs		6,931
Recognition of contract acquisition costs		(5,828)
Deferred contract acquisition costs at June 11, 2021 (Predecessor (SLH))		8,687

Deferred contract acquisition costs at June 12, 2021 (Successor)		—
Contract acquisition costs		7,355
Recognition of contract acquisition costs		(2,243)
Deferred contract acquisition costs at July 31, 2021 (Successor)	$	5,112