Franklin Covey Co - FC STOCK NEWS

Franklin Covey Co. (NYSE: FC) reported robust financial results for Q3 of fiscal 2021, concluding May 31, 2021. Consolidated sales reached a record $58.7 million, up from $37.1 million in 2020, driven by a 17% increase in All Access Pass (AAP) sales. Gross profit surged to $45.9 million, reflecting a 587 basis point improvement in gross margin. Adjusted EBITDA rose to $8.6 million, a substantial gain from a loss of $(3.6) million in 2020. The company's liquidity remained strong with $35.8 million in cash, and deferred subscription revenue increased by 25% to $96.6 million.

Franklin Covey Co. (NYSE: FC) announced a conference call for its third quarter fiscal 2021 financial results, scheduled for June 30, 2021, at 5:00 p.m. ET. The company will release its financial results after market close on the same day. Participants can join by calling 800-708-4539 or via webcast. A replay will be available from 7:30 p.m. ET on June 30 through July 14, 2021. Franklin Covey specializes in organizational performance improvement and serves numerous global clients across various sectors.

FranklinCovey (FC) has launched Jhana® for Individuals, a new training solution designed to enhance performance support for employees. This innovative program offers bite-size learning opportunities that fit into the workflow, promoting essential skills like emotional intelligence and resilience. Paul Walker, President and COO, highlighted the necessity for organizations to develop next-level skills to achieve objectives. Jhana is accessible via the FranklinCovey All Access Pass®, which has helped grow annual subscription revenue to nearly $100 million.

FranklinCovey Education has launched three new educational podcasts aimed at providing inspiration and life-changing content for educators, students, and administrators. The podcasts include Change Starts Here, The Empowering Teacher, and Realiteen Talks. Each podcast offers valuable discussions and interviews with industry experts, focusing on leadership, empowerment, and personal growth. The Change Starts Here podcast, hosted by Managing Director Dustin Odham, emphasizes unlocking human potential. New episodes are released weekly on platforms such as YouTube, Spotify, and Apple Podcasts.

FranklinCovey (FC), a leader in organizational performance improvement, has acquired Strive, an innovative EdTech startup based in San Francisco. This acquisition enhances FranklinCovey's capabilities to facilitate employee behavior change through its All Access Pass® platform. With Strive's advanced social learning platform and FranklinCovey's extensive content and services, the combined offerings aim to deliver highly engaging learning experiences. The All Access Pass has seen significant growth, reaching nearly $100 million in annual subscription revenue since its launch. The acquisition was finalized on April 26, 2021.

Franklin Covey Co. (NYSE: FC) announces the release of the revised 2nd edition of The 4 Disciplines of Execution, a guide focusing on strategic goal execution. This edition includes 30% new content, providing updated principles, practices, and case studies. It addresses challenges organizations face in executing their strategic goals, emphasizing the need for leaders to inspire behavior change. With over 500,000 copies sold, the book aims to help organizations overcome execution failures, which affect 80% of strategies, by utilizing the proven disciplines of focus, accountability, and progress tracking.

The Larry H. Miller Group of Companies (LHM Group) has announced a partnership with FranklinCovey (NYSE: FC) to implement a leadership development program called Unconscious Bias: Understanding Bias to Unleash Potential. This initiative aims to foster a culture of diversity and inclusion across the LHM Group, which operates over 80 companies in various sectors. The program will be accessible to nearly 10,000 employees annually for the next three years, with nearly 5,000 having already completed training since its launch in October 2020.

Franklin Covey Co. (NYSE: FC) reported strong second quarter results for fiscal 2021, ending February 28, with net sales of $48.2 million despite a decrease from $53.7 million in the same quarter of the previous year. The All Access Pass sales grew 13%, while related services exceeded prior year sales. Operating income improved to $0.8 million from a loss of $(0.4) million, supported by reduced operating expenses and enhanced gross margins at 77.5%. The net loss was $(46,000), compared to net income of $1.1 million last year. The company maintains a strong liquidity position with $40.3 million in cash.