The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Rajiv Sharma - B. Riley Securities, Inc., Research Division - Analyst
: Could we please dig into the guidance and the decline? There's a substantial reduction in bookings guidance. I know you've said bookings for the
digital platform are looking good. Could you break that down between Percipio and Global Knowledge? How much of the $70 million decline in
revenues is because of Global Knowledge?
Question: Rajiv Sharma - B. Riley Securities, Inc., Research Division - Analyst
: Okay. And then was the EBITDA impact for SumTotal worse than you had originally listed out when the deal was done? Has that gotten worse?
Question: Rajiv Sharma - B. Riley Securities, Inc., Research Division - Analyst
: Right. It was $37 million before allocations -- corporate allocations. So not -- it was $25 million after the allocations. So I was just wondering and
wanted some clarity on that. And Codecademy -- right. Sorry. Go ahead.
Question: Rajiv Sharma - B. Riley Securities, Inc., Research Division - Analyst
: Right. And then the -- there's a sizable impairment charge. Is that all Global Knowledge-related?
Question: Rajiv Sharma - B. Riley Securities, Inc., Research Division - Analyst
: Right. And do you -- how do you expect that -- are you still kind of seeing it recover at some point? Or has the business materially disintegrated
since you purchased it?
Question: Rajiv Sharma - B. Riley Securities, Inc., Research Division - Analyst
: Got it. So right -- and then the Codecademy business you mentioned was doing really well. Is it still -- what is the expected growth in the Codecademy
business this year that's built into this guidance?
Question: Rajiv Sharma - B. Riley Securities, Inc., Research Division - Analyst
:
Question: Rajiv Sharma - B. Riley Securities, Inc., Research Division - Analyst
: Got it. And then you had also mentioned earlier when you had done the acquisition that there was a $25 million EBITDA loss on Codecademy that
you were expecting to turn around to a breakeven in 12 months or so. Correct me if I'm wrong on that. Is that still the understanding you are able
to cut the expenses to take it to breakeven?
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