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Note 10 - Revenue | 3 Months Ended
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Apr. 30, 2025
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | (10) Revenue Revenue Components and Performance Obligations Subscription Services Skillsoft offers subscriptions that provide customers access to a broad spectrum of learning options including access to cloud-based Software as a Service (“SaaS”) learning content and individualized coaching. Our cloud-based subscription solutions normally do not provide customers with the right to take possession of the software supporting the platform or to download course content without continuing to incur fees for hosting services and, as a result, are accounted for as service arrangements. Access to the platform and course content represents a series of distinct services as we continually provide access to, and fulfills its obligation to, the customer over the subscription term. The series of distinct services represents a single performance obligation that is satisfied over time. Accordingly, the fixed consideration related to subscription revenue is usually recognized on a straight-line basis over the contract term, beginning on the date that the service is made available to the customer. Our subscription contracts typically vary from one year to three years. Our cloud-based solutions arrangements are mostly non-cancellable, non-refundable, and are invoiced in advance of the subscription services being provided. Virtual, On-Demand and Classroom Revenue from classroom training and individual coaching is recognized in the period in which the services are rendered. Revenue from virtual and on-demand training for time-based access to unlimited sessions is recognized on a straight-line basis over the period these services are available to the customers. Billing is in advance of the services being provided or immediately after the services have been provided. Professional Services Skillsoft also sells professional services related to its cloud solutions which are typically considered distinct performance obligations and are recognized over time as services are performed. For fixed-price contracts, revenue is recognized based on the actual service provided to the end of the reporting period as a proportion of the total services to be provided (proportional performance method). These services usually consist of implementation, integration, and general consulting. Skillsoft’s professional service engagements are mostly short in duration. Billing is commonly in advance of the services being provided. Disaggregated Revenue and Geography Information The following is a summary of revenues by segment and type for the periods presented (in thousands):
|  | Three Months Ended April 30, |
|  | 2025 |  |  | 2024 |
TDS: |  |  |  |  |  |  |  |
SaaS and subscription services |  | $ | 93,655 |  |  | $ | 93,162 |
Professional services |  |  | 5,493 |  |  |  | 4,913 |
|  | 99,148 |  |  | 98,075 |
GK: |  |  |  |  |  |  |  |
Virtual, on-demand and classroom |  |  | 25,053 |  |  |  | 29,718 |
Total net revenues |  | $ | 124,201 |  |  | $ | 127,793 |
Generally, SaaS and subscription services revenues are recognized over the service period, while virtual, on demand, classroom and professional services revenues are recognized at the point they are delivered. The following sets forth our revenues by geographic region for the periods presented (in thousands):
|  | Three Months Ended April 30, |
|  | 2025 |  |  | 2024 |
Revenue: |  |  |  |  |  |  |  |
United States |  | $ | 81,832 |  |  | $ | 84,948 |
Europe, Middle East and Africa |  |  | 30,727 |  |  |  | 31,345 |
Other Americas |  |  | 6,067 |  |  |  | 6,351 |
Asia-Pacific |  |  | 5,575 |  |  |  | 5,149 |
Total net revenues |  | $ | 124,201 |  |  | $ | 127,793 |
Other than the United States, no single country accounted for more than 10% of revenue for all periods presented. Deferred Revenue Deferred revenue activity for the three months ended April 30, 2025 was as follows (in thousands):
Deferred revenue as of January 31, 2025 |  | $ | 283,951 |
Billings deferred |  |  | (163,194 | )
Recognition of deferred revenue attributable: |  |  |  |
Prior year deferred revenue |  |  | 95,303 |
Current year deferred revenue |  |  | 28,898 |
Deferred revenue as of April 30, 2025 |  | $ | 244,958 |
Deferred revenue performance obligations relate predominantly 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 three months ended April 30, 2025 was as follows (in thousands):
Deferred contract acquisition costs as of January 31, 2025 |  | $ | 38,338 |
Contract acquisition costs |  |  | 4,819 |
Recognition of contract acquisition costs |  |  | (7,432 | )
Deferred contract acquisition costs as of April 30, 2025 |  | $ | 35,725 |

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