05:32 AM EST, 12/11/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Skillsoft ( SKIL ) shares were up almost 13% in premarket activity on Wednesday after the company overnight reported a narrower fiscal Q3 loss and lifted its sales guidance for the full financial year.

The company reported a fiscal Q3 adjusted net loss late Tuesday of $1.82 a share, compared with a $2.82 loss a year earlier.

Three analysts surveyed by FactSet expected a normalized loss of $3.00.

Revenue in the three months ended Oct. 31 fell to $137.2 million from $138.9 million a year earlier.

One analyst polled by FactSet expected $137.2 million.

For the full year, the company raised its revenue forecast to between $520 million and $530 million compared with the previous outlook of $510 million to $525 million. Three analysts surveyed by FactSet expect $517.1 million.