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Nov 30, 2020
FranklinCovey Q1 2021 Earnings Report
Net income and Adjusted EBITDA exceeded expectations due to the company’s subscription business and quick pivot to delivering content live-online and through other digital modalities.
Key Takeaways
Franklin Covey reported strong Q1 fiscal 2021 results, driven by the All Access Pass and Leader in Me membership. Gross margins increased and operating expenses decreased, allowing income from operations to remain effectively even with the prior year despite the pandemic. Cash flows from operating activities increased 59% to $10.9 million.
All Access Pass sales grew 16% compared with the prior year, and annual AAP revenue retention remained strong at greater than 90%.
Leader in Me membership revenues increased 14% over the first quarter of the prior year.
The company’s loss from operations for the quarter ended November 30, 2020 was $0.2 million, which was essentially even compared with the first quarter of the prior year.
Cash flows from operating activities for the first quarter of fiscal 2021 increased 59%, to $10900000.
Revenue by Segment
Forward Guidance
The Company affirms its previously announced guidance and continues to expect Adjusted EBITDA to total between $20 million to $22 million in fiscal 2021.
Positive Outlook
- Strength of the All Access Pass and Leader in Me membership will drive accelerated growth in fiscal 2021 and in the future.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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