Franklin Covey Files Annual 10-K Report

TL;DR

FC's 10-K is in: FY24 results are out, check the financials.

AI Summary

Franklin Covey Co. filed its 10-K for the fiscal year ending August 31, 2024. The company, headquartered in Salt Lake City, UT, reported on its financial performance and business operations. Key financial data and operational details are disclosed in this annual report, which is a standard requirement for publicly traded companies.

Why It Matters

This filing provides investors and the public with a comprehensive overview of Franklin Covey's financial health and strategic direction for the past fiscal year, influencing investment decisions and market perception.

Risk Assessment

Risk Level: medium — This is a standard annual filing providing historical financial data and business overview, without immediate new material risks or opportunities.

Key Numbers

• 2024-08-31 — Fiscal Year End (The end date of the reporting period for the 10-K.)
• 2024-11-12 — Filing Date (The date the 10-K was officially submitted to the SEC.)
• 8018175030 — Business Phone (Contact number for Franklin Covey Co.)

Key Players & Entities

• FRANKLIN COVEY CO (company) — Filer of the 10-K
• 20240831 (date) — Fiscal year end date
• 20241112 (date) — Filing date
• SALT LAKE CITY, UT (location) — Company headquarters and mailing address
• 8741 (number) — Standard Industrial Classification code for Services-Management Services

FAQ

Key Financial Figures

• $38.18 — ich was based upon the closing price of $38.18 per share as reported by the New York S
• $287.2 million — scal year ended August 31, 2024 totaled $287.2 million and our shares of common stock are trad
• $98 b — ing expenditures are estimated to total $98 billion, which is a slight decrease from
• $102 billion — slight decrease from 2023's estimate of $102 billion. As such, we believe there is ample roo

Filing Documents

• fc-20240831x10k.htm (10-K) — 5710KB
• fc-20240831xex19.htm (EX-19) — 116KB
• fc-20240831xex21.htm (EX-21) — 6KB
• fc-20240831xex23.htm (EX-23) — 3KB
• fc-20240831xex31_1.htm (EX-31.1) — 16KB
• fc-20240831xex31_2.htm (EX-31.2) — 18KB
• fc-20240831xex32.htm (EX-32) — 13KB
• fc-20240831xex97.htm (EX-97) — 50KB
• fc-20240831x10kg001.jpg (GRAPHIC) — 24KB
• 0000886206-24-000060.txt ( ) — 22665KB
• fc-20240831.xsd (EX-101.SCH) — 81KB
• fc-20240831_cal.xml (EX-101.CAL) — 99KB
• fc-20240831_def.xml (EX-101.DEF) — 271KB
• fc-20240831_lab.xml (EX-101.LAB) — 610KB
• fc-20240831_pre.xml (EX-101.PRE) — 572KB
• fc-20240831x10k_htm.xml (XML) — 6017KB

Business

Business 4 Item 1A

Risk Factors

Risk Factors 12 Item 1B Unresolved Staff Comments 23 Item 1C Cybersecurity 23 Item 2

Properties

Properties 25 Item 3

Legal Proceedings

Legal Proceedings 25 Item 4 Mine Safety Disclosures 25 PART II 26 Item 5 Market for the Registrant's Common Equity, Related Shareholder Maters, and Issuer Purchases of Equity Securities 26 Item 6 Reserved 27 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 45 Report of Independent Registered Public Accounting Firm PCAOB ID No. 34 45 Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 82 Item 9A

Controls and Procedures

Controls and Procedures 82 Item 9B Other Information 83 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 83 PART III 83 Item 10 Directors, Executive Officers and Corporate Governance 83 Item 11

Executive Compensation

Executive Compensation 84 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 84 Item 13 Certain Relationships and Related Transactions, and Director Independence 84 Item 14 Principal Accountant Fees and Services 85 PART IV 85 Item 15 Exhibits and Financial Statement Schedules 85 Item 16 Form 10-K Summary 87

Signatures

Signatures 88 3 Table of Contents PART I Disclosure Regarding Forward-Looking Statements This Annual Report on Form 10-K contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the Securities Act), and Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), and such forward-looking statements involve risks and uncertainties. Statements about future sales, costs, margins, cost savings, foreign currency exchange rates, earnings, cash flows, initiatives, strategy, objectives, targets, expectations, growth, or profitability are forward-looking statements based on management's estimates, assumptions, and projections. Words such as "could," "may," "will," "should," "likely," "anticipates," "expects," "intends," "plans," "projects," "believes," "estimates," and variations on such words, including similar expressions, are used to identify these forward-looking statements. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed in this, and other reports, filed by us with the Securities and Exchange Commission (SEC) and elsewhere. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Risks, uncertainties, and other factors that might cause such differences, some of which could be material, include, but are not limited to, the factors discussed under the section of this report entitled "Risk Factors." Forward-looking statements in this report are based on management's current views and assumptions regarding future events and speak only as of the date when made. Franklin Covey Co. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by federal securities laws. In this

. BUSINESS

ITEM 1 . BUSINESS General Information Franklin Covey is a global company focused on organizational performance improvement. Our mission is to "enable greatness in people and organizations everywhere," and our global structure is designed to help individuals and organizations achieve results that require collective behavior change. From the foundational work of Dr. Stephen R. Covey in leadership and personal effectiveness, and Hyrum W. Smith in productivity and time management, we have developed deep expertise that extends to helping organizations and individuals achieve desired results through lasting behavioral change. We believe that our clients are able to utilize our content and offerings to create cultures which include high-performing, collaborative individuals, led by effective, trust building leaders who execute with excellence and deliver measurably improved results for all of their key stakeholders. The Company was incorporated in 1983 under the laws of the state of Utah, and we merged with the Covey Leadership Center in 1997 to form Franklin Covey Co. Our consolidated net sales for the fiscal year ended August 31, 2024 totaled $287.2 million and our shares of common stock are traded on the New York Stock Exchange (NYSE) under the ticker symbol "FC." Our fiscal year ends on August 31 of each year. Unless otherwise noted, references to fiscal years apply to the 12 months ended August 31 of the specified year. The Company's principal executive offices are located at 2200 West Parkway Boulevard, Salt Lake City, Utah 84119-2331, and our telephone number is (801) 817 - 1776. Our website is www.franklincovey.com . 4 Table of Contents Franklin Covey Services and Offerings Our mission is to "enable greatness in people and organizations everywhere," and we believe that we are experts at solving certain pervasive, intractable problems, each of which requires a change in human behavior. Our services and products are designed to help our clients succ

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View this 10-K filing on SEC EDGAR