BNED reports FY2025 revenue $1.61B, net loss $65.8M, Adjusted EBITDA $59.4M; files Super 10-K

Barnes & Noble Education, Inc.

2026-Q2 EPS reported $0.19 revenue$932,574,000

FY2025 revenue up 2.7% to $1.61B; First Day program revenue up 25% to $119.9M.
Net loss from continuing ops $65.8M (EPS -$2.50) vs restated $75.0M loss in prior year.
Adjusted EBITDA from continuing ops $59.4M, up $22.7M from $36.7M in FY2024.
Total net debt reduced to $94M from $186M YoY; net working capital improved to $186.2M.
Reiterates FY2026 Adjusted EBITDA guidance of $65-$75M; sees FY2027 EBITDA growth 15-20%.

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