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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) and Skillsoft Corp. (SKIL). Click either name above to swap in a different company.
Skillsoft Corp. is the larger business by last-quarter revenue ($129.0M vs $114.9M, roughly 1.1× DULUTH HOLDINGS INC.). DULUTH HOLDINGS INC. runs the higher net margin — -8.8% vs -32.0%, a 23.2% gap on every dollar of revenue. On growth, Skillsoft Corp. posted the faster year-over-year revenue change (-6.0% vs -9.6%). DULUTH HOLDINGS INC. produced more free cash flow last quarter ($-8.9M vs $-19.3M). Over the past eight quarters, Skillsoft Corp.'s revenue compounded faster (-3.2% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
Skillsoft is an American educational technology company that produces learning management system software and content.
DLTH vs SKIL — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $129.0M |
| Net Profit | $-10.1M | $-41.3M |
| Gross Margin | 53.8% | 72.7% |
| Operating Margin | -7.7% | -26.6% |
| Net Margin | -8.8% | -32.0% |
| Revenue YoY | -9.6% | -6.0% |
| Net Profit YoY | 64.6% | -74.9% |
| EPS (diluted) | $-0.29 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $114.9M | $129.0M | ||
| Q3 25 | $131.7M | $128.8M | ||
| Q2 25 | $102.7M | $124.2M | ||
| Q1 25 | $241.3M | $133.8M | ||
| Q4 24 | $127.1M | $137.2M | ||
| Q3 24 | $141.6M | $132.2M | ||
| Q2 24 | $116.7M | $127.8M | ||
| Q1 24 | $245.6M | $137.5M |
| Q4 25 | $-10.1M | $-41.3M | ||
| Q3 25 | $1.3M | $-23.8M | ||
| Q2 25 | $-15.3M | $-38.0M | ||
| Q1 25 | $-5.6M | $-31.1M | ||
| Q4 24 | $-28.2M | $-23.6M | ||
| Q3 24 | $-2.0M | $-39.6M | ||
| Q2 24 | $-7.9M | $-27.6M | ||
| Q1 24 | $6.4M | $-245.3M |
| Q4 25 | 53.8% | 72.7% | ||
| Q3 25 | 54.7% | 74.5% | ||
| Q2 25 | 52.0% | 74.0% | ||
| Q1 25 | 44.1% | 74.9% | ||
| Q4 24 | 52.3% | 75.0% | ||
| Q3 24 | 52.3% | 75.4% | ||
| Q2 24 | 52.8% | 73.0% | ||
| Q1 24 | 48.2% | 72.0% |
| Q4 25 | -7.7% | -26.6% | ||
| Q3 25 | 1.8% | -9.2% | ||
| Q2 25 | -12.0% | -14.6% | ||
| Q1 25 | -1.8% | -12.9% | ||
| Q4 24 | -17.4% | -6.7% | ||
| Q3 24 | -1.1% | -14.6% | ||
| Q2 24 | -7.7% | -18.6% | ||
| Q1 24 | 3.6% | -165.8% |
| Q4 25 | -8.8% | -32.0% | ||
| Q3 25 | 1.0% | -18.5% | ||
| Q2 25 | -14.9% | -30.6% | ||
| Q1 25 | -2.3% | -23.3% | ||
| Q4 24 | -22.2% | -17.2% | ||
| Q3 24 | -1.4% | -29.9% | ||
| Q2 24 | -6.7% | -21.6% | ||
| Q1 24 | 2.6% | -178.4% |
| Q4 25 | $-0.29 | — | ||
| Q3 25 | $0.04 | — | ||
| Q2 25 | $-0.45 | — | ||
| Q1 25 | $-0.17 | — | ||
| Q4 24 | $-0.84 | — | ||
| Q3 24 | $-0.06 | — | ||
| Q2 24 | $-0.24 | — | ||
| Q1 24 | $0.20 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.2M | $74.6M |
| Total DebtLower is stronger | — | $570.2M |
| Stockholders' EquityBook value | $160.6M | $4.0M |
| Total Assets | $468.0M | $897.6M |
| Debt / EquityLower = less leverage | — | 142.97× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $74.6M | ||
| Q3 25 | $5.7M | $100.5M | ||
| Q2 25 | $8.6M | $127.8M | ||
| Q1 25 | $3.3M | $100.8M | ||
| Q4 24 | $9.3M | $97.9M | ||
| Q3 24 | $9.8M | $122.7M | ||
| Q2 24 | $6.8M | $142.0M | ||
| Q1 24 | $32.2M | $136.3M |
| Q4 25 | — | $570.2M | ||
| Q3 25 | — | $571.2M | ||
| Q2 25 | — | $572.2M | ||
| Q1 25 | — | $573.3M | ||
| Q4 24 | — | $574.3M | ||
| Q3 24 | — | $575.4M | ||
| Q2 24 | — | $576.4M | ||
| Q1 24 | — | $577.5M |
| Q4 25 | $160.6M | $4.0M | ||
| Q3 25 | $170.0M | $42.5M | ||
| Q2 25 | $167.9M | $62.6M | ||
| Q1 25 | $182.7M | $93.8M | ||
| Q4 24 | $188.1M | $120.5M | ||
| Q3 24 | $215.7M | $141.4M | ||
| Q2 24 | $218.4M | $182.1M | ||
| Q1 24 | $222.8M | $205.6M |
| Q4 25 | $468.0M | $897.6M | ||
| Q3 25 | $433.8M | $969.4M | ||
| Q2 25 | $463.7M | $1.0B | ||
| Q1 25 | $452.4M | $1.1B | ||
| Q4 24 | $533.1M | $1.1B | ||
| Q3 24 | $488.6M | $1.1B | ||
| Q2 24 | $471.4M | $1.2B | ||
| Q1 24 | $491.2M | $1.3B |
| Q4 25 | — | 142.97× | ||
| Q3 25 | — | 13.45× | ||
| Q2 25 | — | 9.13× | ||
| Q1 25 | — | 6.11× | ||
| Q4 24 | — | 4.77× | ||
| Q3 24 | — | 4.07× | ||
| Q2 24 | — | 3.16× | ||
| Q1 24 | — | 2.81× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-6.7M | $-18.9M |
| Free Cash FlowOCF − Capex | $-8.9M | $-19.3M |
| FCF MarginFCF / Revenue | -7.8% | -15.0% |
| Capex IntensityCapex / Revenue | 2.0% | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $10.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.7M | $-18.9M | ||
| Q3 25 | $32.0M | $-17.8M | ||
| Q2 25 | $-56.5M | $31.3M | ||
| Q1 25 | $41.2M | $17.8M | ||
| Q4 24 | $-41.1M | $8.7M | ||
| Q3 24 | $16.6M | $-11.4M | ||
| Q2 24 | $-33.7M | $14.9M | ||
| Q1 24 | $69.7M | $11.5M |
| Q4 25 | $-8.9M | $-19.3M | ||
| Q3 25 | $29.8M | $-18.5M | ||
| Q2 25 | $-57.8M | $30.8M | ||
| Q1 25 | $38.7M | $17.0M | ||
| Q4 24 | $-43.7M | $8.3M | ||
| Q3 24 | $15.0M | $-11.7M | ||
| Q2 24 | $-35.2M | $14.8M | ||
| Q1 24 | $60.6M | $11.1M |
| Q4 25 | -7.8% | -15.0% | ||
| Q3 25 | 22.6% | -14.3% | ||
| Q2 25 | -56.3% | 24.8% | ||
| Q1 25 | 16.0% | 12.7% | ||
| Q4 24 | -34.4% | 6.0% | ||
| Q3 24 | 10.6% | -8.8% | ||
| Q2 24 | -30.2% | 11.6% | ||
| Q1 24 | 24.7% | 8.0% |
| Q4 25 | 2.0% | 0.4% | ||
| Q3 25 | 1.7% | 0.5% | ||
| Q2 25 | 1.3% | 0.4% | ||
| Q1 25 | 1.0% | 0.6% | ||
| Q4 24 | 2.1% | 0.3% | ||
| Q3 24 | 1.2% | 0.2% | ||
| Q2 24 | 1.3% | 0.1% | ||
| Q1 24 | 3.7% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | 25.40× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.86× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLTH
| Sales Channel Directly To Consumer | $67.4M | 59% |
| Sales Channel Through Intermediary | $47.4M | 41% |
SKIL
| SAAS And Subscription Services | $93.5M | 73% |
| Virtual Ondemand And Classroom And Individualized Coaching | $28.2M | 22% |
| Professional Services | $7.3M | 6% |
