{"schema_version":"secwatch.filing_event.v1","accession":"0001185185-23-000472","form_type":"8-K","ticker":"EDUC","cik":"0000031667","company_name":"EDUCATIONAL DEVELOPMENT CORP","filed_at":"2023-05-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.738777+00:00","generated_at":"2026-06-15T05:03:23.536501+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"EDC reports Q4 net loss of $1.9M; full-year loss $2.5M, revenue down 38%","bullets":["Q4 net revenues $15.0M, down 35.6% YoY from $23.3M; full-year revenues $87.8M, down 38.3%.","Q4 net loss of $1.9M ($0.24 loss per share) vs prior year profit $0.3M ($0.04 EPS).","Full-year net loss $2.5M ($0.31 loss per share) vs prior year profit $8.3M ($0.98 EPS).","Average active PaperPie Brand Partners fell to 26,100 in Q4 (37,500 prior year); FY avg 28,000 (44,900).","No dividends paid in fiscal 2023 vs $0.40 per share in fiscal 2022; inflationary and rebranding headwinds cited."],"urls":{"canonical":"https://secwatch.observer/filing/0001185185-23-000472","json":"https://secwatch.observer/filing/0001185185-23-000472.json","markdown":"https://secwatch.observer/filing/0001185185-23-000472.md","text":"https://secwatch.observer/filing/0001185185-23-000472.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/31667/000118518523000472/0001185185-23-000472-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/31667/000118518523000472/edc20230511_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T05:03:23.536501+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":"0fe71003233785ac512ddccb6ecd2f1a58530a47","claim":"EDUCATIONAL DEVELOPMENT CORP reported the fiscal year ended February 28, 2023 results: revenue $87.8 million, net income $(2.5) million, EPS $(0.31).","evidence_excerpt":"Net revenues of $87.8 million, a decrease of $54.4 million, or 38.3%, compared to $142.2 million. ● Average active PaperPie Brand Partners totaled 28,000 compared to 44,900. ● Earnings (loss) before income taxes were $(3.4) million, a decrease of $14.6 million, compared to $11.2 million. ● Net earnings (loss) totaled $(2.5) million, compared to $8.3 million, a decrease of $10.8 million, or 130.1%. ● Earnings (loss) per share totaled $(0.31), compared to $0.98, down 131.6% on a fully diluted basis.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/31667/000118518523000472/0001185185-23-000472-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal year ended February 28, 2023"},{"label":"Revenue","value":"$87.8 million"},{"label":"Net income","value":"$(2.5) million"},{"label":"EPS","value":"$(0.31)"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"672e21e43ac6724b09f438aff0df18a007da2eaa","claim":"EDUCATIONAL DEVELOPMENT CORP reported the fiscal fourth quarter ended February 28, 2023 results: revenue $15.0 million, net income $(1.9) million, EPS $(0.24).","evidence_excerpt":"Net revenues were $15.0 million, a decrease of $8.3 million, or 35.6%, compared to $23.3 million. ● Average active PaperPie Brand Partners totaled 26,100 compared to 37,500. ● Earnings (loss) before income taxes were $(2.6) million, a decrease of $2.9 million, compared to $0.3 million. ● Net earnings (loss) totaled $(1.9) million, compared to $0.3 million, a decrease of $2.2 million, or 733.3%. ● Earnings (loss) share totaled $(0.24), compared to $0.04, on a fully diluted basis.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/31667/000118518523000472/0001185185-23-000472-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the fiscal fourth quarter ended February 28, 2023"},{"label":"Revenue","value":"$15.0 million"},{"label":"Net income","value":"$(1.9) million"},{"label":"EPS","value":"$(0.24)"},{"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"}