BNED reports FY24 revenue up 1.6% to $1.57B, net loss narrows; June refinancing injects $80M

Barnes & Noble Education, Inc.

FY24 revenue $1.57B (+1.6%); net loss from continuing ops $(62.5)M vs $(90.1)M prior year.
Adjusted EBITDA improved to $45.2M from $(8.1)M in prior year.
First Day Complete revenue +48%; 160 stores (805K students), up 39% YoY.
June 2024 refinancing: ~$80M cash, $34M debt-to-equity, $325M credit facility due 2028.
1-for-100 reverse stock split completed June 11; outstanding shares ~26.2M.

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