Barnes & Noble Education (BNED) 10-K Summary — Year Ended May 3, 2025
Barnes & Noble Education, Inc. operates college bookstores and related services. The company reported a decline in revenue and a net loss for the annual period.
Key takeaway
Year ended May 3, 2025 · FY2026 10-K
Barnes & Noble Education, Inc. operates college bookstores and related services. The company reported a decline in revenue and a net loss for the annual period.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$1.5B
Revenue reported for the fiscal year.
Operating income
$15.9M
Income from operations reported for the year.
Net income
-$65.8M
Net income reported for the year.
Operating cash flow
-$85.4M
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 27, 2024 | $250.9M | n/a |
| Oct 26, 2024 | $810.6M | +223.0% |
| Jan 25, 2025 | $1.2B | +51.8% |
| May 3, 2025 | $1.5B | +18.9% |
Business overview
The company provides physical, digital, and rental textbooks, general merchandise, and operational services to college campuses. It also operates its own branded retail stores and online platforms to serve students and faculty.
Financial performance
Total revenue declined compared to the prior year, while operating income remained positive. Net income was a loss, and cash used in operations exceeded cash generated.
Material risks
The company faces risks from declining enrollment and changes in student purchasing behavior. It also relies on relationships with college partners and may be affected by digital disruption in the textbook market.
Liquidity and capital
The company's liquidity position is supported by revolving credit facilities and other financing arrangements. Capital expenditures are directed toward maintaining its retail network and digital infrastructure.
What to watch
Monitor whether the company can generate positive operating cash flow in the next reporting period.