Franklin Covey Co. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>Franklin Covey Co. has filed its Q2 2024 10-Q report, detailing financial positions and segment activities.</b>

AI Summary

FRANKLIN COVEY CO (FC) filed a Quarterly Report (10-Q) with the SEC on April 5, 2024. Franklin Covey Co. filed a 10-Q for the period ending February 29, 2024. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on August 31st. The filing includes data related to common stock, retained earnings, and additional paid-in capital as of various dates in 2022, 2023, and 2024. Specific segments like Subscriptions and Services & Products within the Enterprise Division are mentioned in relation to the period of December 1, 2023, to February 29, 2024.

Why It Matters

For investors and stakeholders tracking FRANKLIN COVEY CO, this filing contains several important signals. This 10-Q filing provides an updated view of Franklin Covey's financial health and operational segments for the second quarter of fiscal year 2024. The detailed breakdown of equity accounts and segment reporting offers insights into the company's financial structure and revenue streams.

Risk Assessment

Risk Level: low — FRANKLIN COVEY CO shows low risk based on this filing. The filing is a routine 10-Q, indicating standard financial reporting without immediate red flags.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand the company's current operational and financial standing.

Key Numbers

• 2024-02-29 — Period End Date (Conformed period of report)
• 2024-04-05 — Filing Date (Filed as of date)
• 0831 — Fiscal Year End (Fiscal year end)
• Q2 2024 — Quarter (Reporting quarter)

Key Players & Entities

• FRANKLIN COVEY CO (company) — Filer name
• 2024-02-29 (date) — Conformed period of report
• 2024-04-05 (date) — Filed as of date
• 8741 (other) — Standard Industrial Classification
• UT (location) — State of incorporation
• 8018175030 (phone) — Business phone
• 19940218 (date) — Date of name change
• FC (ticker) — Ticker symbol

FAQ

Industry Context

Franklin Covey Co. operates in the management services industry, providing training and solutions to organizations and individuals.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly reports (10-Q).

What Investors Should Do

1. Analyze the balance sheet details for changes in equity accounts.
2. Examine any disclosures related to share-based compensation plans.
3. Review the segment information for performance trends in Subscriptions and Services & Products.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 10-K annual report.

Key Financial Figures

• $0.05 — nge on which registered Common Stock, $0.05 Par Value FC New York Stock Exchang

Filing Documents

• fc-20240229x10q.htm (10-Q) — 3419KB
• fc-20240229xex31_1.htm (EX-31.1) — 12KB
• fc-20240229xex31_2.htm (EX-31.2) — 13KB
• fc-20240229xex32.htm (EX-32) — 9KB
• fc-20240229x10qg001.jpg (GRAPHIC) — 19KB
• 0000886206-24-000028.txt (&nbsp;) — 11298KB
• fc-20240229.xsd (EX-101.SCH) — 27KB
• fc-20240229_cal.xml (EX-101.CAL) — 49KB
• fc-20240229_def.xml (EX-101.DEF) — 87KB
• fc-20240229_lab.xml (EX-101.LAB) — 237KB
• fc-20240229_pre.xml (EX-101.PRE) — 220KB
• fc-20240229x10q_htm.xml (XML) — 2978KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS FRANKLIN COVEY CO. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per-share amounts) February 29, August 31, 2024 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 40,904 $ 38,230 Accounts receivable, less allowance for doubtful accounts of $ 3,392 and $ 3,790 57,153 81,935 Inventories 4,196 4,213 Prepaid expenses and other current assets 20,182 20,639 Total current assets 122,435 145,017 Property and equipment, net 8,708 10,039 Intangible assets, net 38,371 40,511 Goodwill 31,220 31,220 Deferred income tax assets 1,655 1,661 Other long-term assets 19,544 17,471 $ 221,933 $ 245,919 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Current portion of notes payable $ 3,335 $ 5,835 Current portion of financing obligation 3,718 3,538 Accounts payable 7,734 6,501 Deferred subscription revenue 82,365 95,386 Other deferred revenue 22,012 12,137 Accrued liabilities 19,301 28,252 Total current liabilities 138,465 151,649 Notes payable, less current portion 1,577 1,535 Financing obligation, less current portion 2,515 4,424 Other liabilities 7,492 7,617 Deferred income tax liabilities 1,057 2,040 Total liabilities 151,106 167,265 Shareholders' equity: Common stock, $ 0.05 par value; 40,000 shares authorized, 27,056 shares issued 1,353 1,353 Additional paid-in capital 225,776 232,373 Retained earnings 105,527 99,802 Accumulated other comprehensive loss ( 1,075 ) ( 987 ) Treasury stock at cost, 13,801 shares and 13,974 shares ( 260,754 ) ( 253,887 ) Total shareholders' equity 70,827 78,654 $ 221,933 $ 245,919 See notes to condensed consolidated financial statements 2 FRANKLIN COVEY CO. CONDENSED CONSOLIDATED INCOME STATEMENTS AND STATEMENTS OF COMPREHENSIVE INCOME (in thousands, except

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View this 10-Q filing on SEC EDGAR