BNED swings to $13.4M profit on 9% revenue growth; new federal policy risks disclosed

Filed March 10, 2026 · Period ending January 31, 2026 · Compared to 10-Q Mar 10, 2025 · ~1 min read

Key Changes

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  Revenue grew 9.0% year-to-date to $1.45B, driven by 30% growth in BNC First Day® affordable-access programs and net new locations. Net income swung from $(42.8)M loss to $13.4M profit, a $56.2M improvement.

  MD&A: Financial Results verify on EDGAR →
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  New regulatory risk disclosed: 2025 federal actions including visa restrictions, deportation of foreign students, reduced college funding, student loan cuts, and potential elimination of the U.S. Department of Education could reduce enrollment and college budgets.

  MD&A: Regulatory Trends verify on EDGAR →
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  Investigation-related costs totaled $6.7M year-to-date, including $1.0M in waiver fees paid to lenders. Nature of investigation not disclosed. Costs reduced operating income and required lender waivers.

  MD&A: Other Expense verify on EDGAR →