Franklin Covey Co
NYSE:FC
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Franklin Covey Co
Franklin Covey Co. is a global public company, which focuses on organizational performance improvement. The company is headquartered in Salt Lake City, Utah and currently employs 1,000 full-time employees. The Company’s sales primarily comprise of training and consulting services and its internal operating structure, which are organized around two divisions: Enterprise Division and Education Division. The Enterprise Division, which consists of its Direct Office and International Licensee segments and the Education Division, which is comprised of its Education practice segment. Its Direct Offices segment includes its sales personnel that serve the United States and Canada, its international sales offices located in Japan, China, the United Kingdom, Australia, Germany, Switzerland and Austria; its government services sales channel, and its book and audio sales. Its International Licensees segment consists of its international licensees. Its Education practice segment consists of its domestic and international Education practice operations. The company is also focused on leasing operations, shipping and handling.
Franklin Covey Co. is a global public company, which focuses on organizational performance improvement. The company is headquartered in Salt Lake City, Utah and currently employs 1,000 full-time employees. The Company’s sales primarily comprise of training and consulting services and its internal operating structure, which are organized around two divisions: Enterprise Division and Education Division. The Enterprise Division, which consists of its Direct Office and International Licensee segments and the Education Division, which is comprised of its Education practice segment. Its Direct Offices segment includes its sales personnel that serve the United States and Canada, its international sales offices located in Japan, China, the United Kingdom, Australia, Germany, Switzerland and Austria; its government services sales channel, and its book and audio sales. Its International Licensees segment consists of its international licensees. Its Education practice segment consists of its domestic and international Education practice operations. The company is also focused on leasing operations, shipping and handling.
Revenue: Reported revenue for Q1 was $64 million, down 7% year over year but essentially in line with expectations.
North America Momentum: Enterprise North America invoiced amounts grew 7% in Q1 and 13% excluding government, marking a significant turnaround after declines in previous quarters.
New Logos: New logo subscription invoiced amounts in North America grew a strong 25% year over year.
Education Division: Education subscription revenue rose 12% in Q1, though total revenue was down 2% due to timing of a large state contract; strong growth is expected in the back half of the year.
Deferred Revenue: Consolidated deferred revenue increased 5% year over year to $100.2 million, supporting future reported revenue growth.
Guidance Affirmed: Management reaffirmed full-year revenue guidance of $265–275 million and adjusted EBITDA of $28–33 million, with more EBITDA expected in the second half due to contract timing.
Cost Actions: $3.4 million in restructuring expenses incurred in Q1 as the company continues cost reductions; margin expansion is expected as these efforts take hold.
AI Initiatives: Continued investment in AI-enabled solutions, both developed in-house and potentially through partnerships, to support clients' digital transformations.
