Founded in 2001, Train Simple was an Adobe Authorized Training Center specializing in self-paced training for creatives. Its last acquisition was in 2016 when it bought Connecticut-based Train Simple for an undisclosed sum. It may not have acquired any companies in the recent past, but it has acquired eight companies overall. Pluralsight has been growing its business both organically and through acquisitions of smaller players. With Amazon, Pluralsight is now building a B2B pipeline. It is currently developing a deeper plan for curriculum and go-to-market alignment. With Google, Pluralsight has integrated its courses with Google cloud content and is now piloting the experience for its customers.
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It is currently in the process of creating additional roles and determining how to better support Azure customers to increase Azure adoption within their respective organizations. Last quarter, it completed the build-out of multiple Azure Role IQ including solution architect, developer, and administrator. It already has strategic partnerships with the three largest cloud providers – Amazon, Alphabet, and Microsoft – and it continues to build on these relationships. To help attract more customers, Pluralsight is working on its go-to-market strategy of building partnerships with leading technology companies. During the quarter, not only did Pluralsight add more new business customers but also continued to sell more services to its existing customers. The recently reported quarter was the seventh consecutive quarter of more than 50% growth in B2B billings for the company. Pluralsight remains focused on the enterprise segment. The Street had forecast revenues of $67.4 million for the quarter with a loss of $0.09 per share and revenues of $306.3 million for the year with a loss of $0.30 per share.
It expects to end the year with revenues of $306-$314 million and a loss of $0.32-$0.26 per share. It ended the year with revenues growing 39% over the year to $232 million and a net loss of $83.7 million, or $0.65 per share.įor the current quarter, Pluralsight expects revenues of $68-$68.5 million with a loss of $0.09-$0.08 per share. On an adjusted basis, losses came in at $0.09 per share, ahead of the market’s forecast of a loss of $0.11 per share.
Despite the growing revenues, it continued to report losses and ended the quarter with a net loss of $31.9 million or $0.24 per share. The quarter’s billings also grew 42% to $100.6 million. Revenues for the quarter grew 42% over the year to $67.3 million, ahead of the Street’s forecast of $65.8 million.
Cedar Valley, Utah-based EdTech company and Billion Dollar Unicorn Pluralsight (Nasdaq: PS) recently reported its fourth quarter results that surpassed market expectations. The growth is expected to be driven by academic institutions who are providing off-campus licenses for software, repositories for courses and study materials, and online course catalogs. According to a Research and Markets report, the global education technology market is estimated to grow 15% annually during the period 2018 to 2024.
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