Cloud-based education software provider PowerSchool Holdings has reported a second quarter 2021 net loss of $2.5 million, compared to a net loss of $12.4 million reported for Q2 2020.

Revenue for the second quarter was $121.8 million, up from $88.5 million reported for the second quarter last year.

The Folsom, California-based company also reported its results for the first six months of 2021. Its net loss for the period was $2.1 million, compared to a net loss of $29.3 million reported for the first six months of 2020. Revenue for the period was $224.9, up from $176.3 reported for the first six months last year.

PowerSchool’s chief executive Hardeep Gulati said: “The demand for our unified solutions that help accelerate learning outcomes and improve school operations is demonstrated by continued business momentum driving strong and balanced results in the second quarter. We believe our unified solutions are filling that need for our customers and are helping to drive real impact within their communities. The funding environment for K12 education remains robust and has resulted in continued investments in technology from our school and district customers, and the momentum we are seeing gives us confidence in our ability to deliver on our 2021 and 2022 plans.”

Date published: 10 September 2021

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