{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-23-000005","form_type":"8-K","ticker":"EDUC","cik":"0000031667","company_name":"EDUCATIONAL DEVELOPMENT CORP","filed_at":"2023-01-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:47.596920+00:00","generated_at":"2026-06-20T19:55:48.669880+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"EDC reports Q3 net revenues down 32.8% to $30.3M; EPS $0.00 vs $0.31","bullets":["Q3 net revenues $30.3M (-32.8% YoY); net earnings $900 vs $2.6M; EPS $0.00 vs $0.31.","Average active direct-sales consultants fell to 27,100 from 41,500 YoY.","Year-to-date net loss of $585,200 vs net income of $8.0M; EPS $(0.07) vs $0.94.","Company rebranded direct sales division to PaperPie and launched SmartLab Toys product line.","Usborne distribution agreement changed; retail rights ended Nov 15 (extended to Jan 31)."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-23-000005","json":"https://secwatch.observer/filing/0001185185-23-000005.json","markdown":"https://secwatch.observer/filing/0001185185-23-000005.md","text":"https://secwatch.observer/filing/0001185185-23-000005.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/31667/000118518523000005/0001185185-23-000005-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/31667/000118518523000005/edc20230104_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T19:55:48.669880+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2cab8b841e6b3db9dbe607cd9f7b88353ed8328b","claim":"EDUCATIONAL DEVELOPMENT CORP reported nine months ended November 30, 2022 results: revenue $72.8 million, net income $(0.6) million, EPS $(0.07).","evidence_excerpt":"● Net revenues of $72.8 million, a decrease of $46.1 million, or 38.8%, compared to $118.9 million. ● Average active UBAM sales consultants totaled 28,700 compared to 47,300. ● Earnings (loss) before income taxes were $(0.8) million, a decrease of $11.7 million, or 107.3%, compared to $10.9 million. ● Net earnings (loss) totaled $(0.6) million, compared to $8.0 million, a decrease of $8.6 million, or 107.5%. ● Earnings (loss) per share totaled $(0.07), compared to $0.94, down 107.4% on a fully diluted basis.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/31667/000118518523000005/0001185185-23-000005-index.htm","confidence":1.0,"family_label":"Earnings Releases","details":[{"label":"Period","value":"nine months ended November 30, 2022"},{"label":"Revenue","value":"$72.8 million"},{"label":"Net income","value":"$(0.6) million"},{"label":"EPS","value":"$(0.07)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"fc6728cc22e2f3871eeb5dd7c2dfad9f6b4fd851","claim":"EDUCATIONAL DEVELOPMENT CORP reported third quarter ended November 30, 2022 results: revenue $30.3 million, net income $0.0 million, EPS $0.00.","evidence_excerpt":"● Net revenues were $30.3 million, a decrease of $14.8 million, or 32.8%, compared to $45.1 million. ● Average active direct-sales consultants totaled 27,100 compared to 41,500. ● Earnings before income taxes were $0.0 million, a decrease of $3.6 million, compared to $3.6 million. ● Net earnings totaled $0.0 million, compared to $2.6 million, a decrease of $2.6 million. ● Earnings per share totaled $0.00, compared to $0.31, on a fully diluted basis.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/31667/000118518523000005/0001185185-23-000005-index.htm","confidence":1.0,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter ended November 30, 2022"},{"label":"Revenue","value":"$30.3 million"},{"label":"Net income","value":"$0.0 million"},{"label":"EPS","value":"$0.00"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}