Educational Development Corp Q1 FY2024 net loss $0.9M; revenue down 37.5% to $14.5M

EDUCATIONAL DEVELOPMENT CORP

2024-Q1 EPS reported -$0.11 revenue$14,524,000

Net revenues $14.5M, down 37.5% YoY; net loss $0.9M vs prior-year net income $0.2M.
Diluted EPS loss $0.11 vs prior-year EPS of $0.03.
Average active PaperPie brand partners fell 28% to 23,200 from 32,200.
SmartLab Toys gross sales ~$1.4M in Q1; 25 new toys and 10 new Wrap-Ups planned over 12 months.
Management expects high inflation headwind to continue through fiscal 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.97

EDUCATIONAL DEVELOPMENT CORP reported first quarter for fiscal year 2024 results: revenue $14.5 million, net income $(0.9) million, EPS $(0.11).

Period: first quarter for fiscal year 2024
Revenue: $14.5 million
Net income: $(0.9) million
EPS: $(0.11)
Result: reported results

Exact text from the filing

today reports financial results for the first quarter for fiscal year 2024. First Quarter Summary Compared to the Prior Year First Quarter ● Net revenues of $14.5 million, a decrease of $8.7 million, or 37.5%, compared to $23.2 million. ● Average active PaperPie brand partners totaled 23,200 compared to 32,200. ● Earnings (loss) before income

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Source: SEC EDGAR

accession 0001185185-23-000718

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