| Revenue |
(16) Revenue
Disaggregated Revenue and Geography Information
The following is a summary of revenues by type for the three months ended October 31, 2021 (Successor), the period from June 12, 2021 to October 31, 2021 (Successor), the period from May 1, 2021 to June 11, 2021 (Predecessor (SLH)), the period from February 1, 2021 to June 11, 2021 (Predecessor (SLH)), and the three months and nine months ended October 31, 2021 (Predecessor (PL)), (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter-to Date Results |
|
|
Fiscal 2022 |
|
Fiscal 2021 |
|
|
Successor |
|
Predecessor (SLH) |
|
|
Predecessor (PL) |
|
|
Three Months |
|
From |
|
|
From |
|
|
Ended |
|
August 28, 2020 |
|
|
August 1, 2020 |
|
|
October 31, 2021 |
|
to October 31, 2020 |
|
|
to August 27, 2020 |
SaaS and subscription services |
|
$ |
100,969 |
|
$ |
31,659 |
|
|
$ |
33,274 |
Software maintenance |
|
|
4,681 |
|
|
1,622 |
|
|
|
1,701 |
Professional services |
|
|
10,415 |
|
|
3,271 |
|
|
|
3,310 |
Perpetual software licenses |
|
|
1,288 |
|
|
415 |
|
|
|
402 |
Hardware and other |
|
|
— |
|
|
6 |
|
|
|
— |
Virtual, on-demand and classroom |
|
|
53,206 |
|
|
— |
|
|
|
— |
Total net revenues (1) |
|
$ |
170,559 |
|
$ |
36,973 |
|
|
$ |
38,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year-to Date Results |
|
|
Fiscal 2022 |
|
Fiscal 2021 |
|
|
Successor |
|
|
Predecessor (SLH) |
|
Predecessor (SLH) |
|
|
Predecessor (PL) |
|
|
From |
|
|
From |
|
From |
|
|
From |
|
|
June 12, 2021 to |
|
|
February 1, 2021 |
|
August 28, 2020 |
|
|
February 1, 2020 |
|
|
October 31, 2021 |
|
|
to June 11, 2021 |
|
to October 31, 2020 |
|
|
to August 27, 2020 |
SaaS and subscription services |
|
$ |
155,293 |
|
|
$ |
119,233 |
|
$ |
31,659 |
|
|
$ |
234,766 |
Software maintenance |
|
|
7,249 |
|
|
|
5,984 |
|
|
1,622 |
|
|
|
12,079 |
Professional services |
|
|
15,217 |
|
|
|
13,495 |
|
|
3,271 |
|
|
|
24,499 |
Perpetual software licenses |
|
|
1,341 |
|
|
|
924 |
|
|
415 |
|
|
|
2,486 |
Hardware and other |
|
|
12 |
|
|
|
— |
|
|
6 |
|
|
|
21 |
Virtual, on-demand and classroom |
|
|
82,460 |
|
|
|
— |
|
|
— |
|
|
|
— |
Total net revenues (1) |
|
$ |
261,572 |
|
|
$ |
139,636 |
|
$ |
36,973 |
|
|
$ |
273,851 |
The following table sets forth our revenues by geographic region for the three months ended October 31, 2021 (Successor), June 12, 2021 to October 31, 2021 (Successor), the period from May 1, 2021 to June 11, 2021 (Predecessor (SLH)), the period from February 1, 2021 to June 11, 2021 (Predecessor (SLH) and the three months and nine months ended October 31, 2021 (Predecessor (PL)), (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Quarter-to Date Results |
|
|
Fiscal 2022 |
|
Fiscal 2021 |
|
|
Successor |
|
Predecessor (SLH) |
|
|
Predecessor (PL) |
|
|
Three Months |
|
From |
|
|
From |
|
|
Ended |
|
August 28, 2020 |
|
|
August 1, 2020 |
|
|
October 31, 2021 |
|
to October 31, 2020 |
|
|
to August 27, 2020 |
Revenue: |
|
|
|
|
|
|
|
|
|
|
United States |
|
$ |
90,892 |
|
$ |
28,858 |
|
|
$ |
30,996 |
Other Americas |
|
|
9,857 |
|
|
1,566 |
|
|
|
597 |
Europe, Middle East and Africa |
|
|
36,671 |
|
|
4,559 |
|
|
|
4,930 |
Asia-Pacific |
|
|
33,139 |
|
|
1,990 |
|
|
|
2,164 |
Total net revenues (1) |
|
$ |
170,559 |
|
$ |
36,973 |
|
|
$ |
38,687 |
Other than the United States, no single country accounted for more than 10% of revenue for all periods presented.
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|
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|
|
Year-to Date Results |
|
|
Fiscal 2022 |
|
Fiscal 2021 |
|
|
Successor |
|
|
Predecessor (SLH) |
|
Predecessor (SLH) |
|
|
Predecessor (PL) |
|
|
From |
|
|
From |
|
From |
|
|
From |
|
|
June 12, 2021 to |
|
|
February 1, 2021 |
|
August 28, 2020 |
|
|
February 1, 2020 |
|
|
October 31, 2021 |
|
|
to June 11, 2021 |
|
to October 31, 2020 |
|
|
to August 27, 2020 |
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
$ |
167,906 |
|
|
$ |
101,884 |
|
$ |
28,858 |
|
|
$ |
217,783 |
Other Americas |
|
|
18,039 |
|
|
|
8,724 |
|
|
1,566 |
|
|
|
8,899 |
Europe, Middle East and Africa |
|
|
65,601 |
|
|
|
19,729 |
|
|
4,559 |
|
|
|
32,788 |
Asia-Pacific |
|
|
10,026 |
|
|
|
9,299 |
|
|
1,990 |
|
|
|
14,381 |
Total net revenues (1) |
|
$ |
261,572 |
|
|
$ |
139,636 |
|
$ |
36,973 |
|
|
$ |
273,851 |
Deferred Revenue
Deferred revenue activity for the periods through October 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 |
|
|
268,299 |
Billings deferred |
|
|
235,480 |
Recognition of prior deferred revenue |
|
|
(261,572) |
Acquisition of Pluma |
|
|
5,864 |
Deferred revenue at October 31, 2021 (Successor) |
|
$ |
248,071 |
Deferred revenue performance obligations relate predominately to time-based SaaS and subscription services that are billed in advance of services being rendered.
Deferred Contract Acquisition Costs
Deferred contract acquisition cost activity for the periods through October 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 |
Contract acquisition costs |
|
|
7,143 |
Recognition of contract acquisition costs |
|
|
(3,272) |
Deferred contract acquisition costs at October 31, 2021 (Successor) |
|
$ |
8,983 |
|