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Nov 30, 2022
FranklinCovey Q1 2023 Earnings Report
Franklin Covey's first quarter results for fiscal year 2023 were strong, with consolidated sales increasing by 13% and net income increasing by 22%.
Key Takeaways
Franklin Covey reported strong Q1 2023 results, with a 13% increase in consolidated sales to $69.4 million and a 22% increase in net income to $4.7 million. The company's All Access Pass subscription and Education Division revenues drove growth, and the company reaffirmed its fiscal 2023 earnings guidance.
Consolidated sales increased 13% to $69.4 million compared to fiscal 2022.
All Access Pass subscription and subscription services sales grew 20% to $39.6 million.
Education Division revenues grew 23% over fiscal 2022.
Net income increased 22% to $4.7 million.
FranklinCovey
FranklinCovey
FranklinCovey Revenue by Segment
Revenue by Segment
Enterprise Division Revenue
CapyFin.comEducation Division Revenue
CapyFin.com Forward Guidance
The Company affirms its previous guidance that Adjusted EBITDA for fiscal 2023 will increase to between $47 million and $49 million in constant currency.
Positive Outlook
- Continued strength and strategic durability of All Access Pass subscriptions.
- Continuing strong performance through the first quarter of fiscal 2023.
- Increased investments to add new client partners and personnel.
- Investments in the Company’s delivery portals and content.
- Confidence in the strength of the All Access Pass and Leader in Me membership subscriptions.
Challenges Ahead
- Potentially challenging macroeconomic circumstances.
- Potential for ongoing disruptions in China resulting from the COVID-19 pandemic.
- Potential for ongoing disruptions in Japan resulting from economic conditions.
- Impact of unfavorable foreign exchange.
- Operating challenges in China and Japan
Revenue & Expenses
Visualization of income flow from segment revenue to net income