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Barnes & Noble Education (BNED) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 8, 2026 · Barnes & Noble Education (BNED) Q1 FY27 earnings results →

Q1 FY27 Revenue up 1% year over year to $291M · 4¢ of every $1 of revenue lost · operating margin -5.9%

Barnes & Noble Education made $291M in Q1 FY27 (+0.8% Y/Y). Operating margin -5.9%, net loss $12.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 8, 2026.

Revenue$291M
Year over year+0.8%
Operating margin-5.9%
Net earnings−$12.9M
Operating cash flow−$52.9M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $290.6M in Q1 FY27, up 1% year over year and up 9% from the previous quarter.

Gross margin was 19.6%, up 0.4 points from Q1 FY26. Operating costs exceeded revenue by $17.3M, an operating margin of -5.9%. Operating expenses fell 5% while revenue rose 1%. The quarter ended with a net loss of $12.9M, after a profit of $3.5M the previous quarter.

Operating cash flow was −$52.9M. Non-cash charges added back $8.2M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items used $49.2M. Capital expenditures of $3.5M exceeded it, leaving free cash flow of −$56.4M.

Quarterly history

Barnes & Noble Education revenue by quarterBarnes & Noble Education revenue by quarter$463MQ3 FY25$282MQ4 FY25$288MQ1 FY26$644MQ2 FY26$515MQ3 FY26$267MQ4 FY26$291MQ1 FY27
Barnes & Noble Education net earnings by quarterBarnes & Noble Education net earnings by quarter$7.1MQ3 FY25−$23.0MQ4 FY25−$18.3MQ1 FY26$25.0MQ2 FY26$6.7MQ3 FY26$3.5MQ4 FY26−$12.9MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 8, 2026$291M+0.8%-5.9%−$12.9M−$52.9M
Q4 FY2610-KJul 9, 2026$267M-5%1.6%$3.5M$80.8M
Q3 FY2610-QMar 10, 2026$515M+11%2.8%$6.7M−$29.4M
Q2 FY2610-QJan 20, 2026$644M+7%6.3%$25.0M$66.2M
Q1 FY2610-QJan 20, 2026$288M+9%-8.0%−$18.3M−$67.6M
Q4 FY2510-KDec 23, 2025$282M+19%-4.1%−$23.0M$52.6M
Q3 FY2510-QMar 10, 2025$463M+1%4.9%$7.1M−$41.9M

Charts

Barnes & Noble Education: revenue growth, year over year and quarter over quarterBarnes & Noble Education: revenue growth, year over year and quarter over quarterY/YQ/Q+1%Q3 FY25+19%-39%Q4 FY25+9%+2%Q1 FY26+7%+124%Q2 FY26+11%-20%Q3 FY26-5%-48%Q4 FY26+1%+9%Q1 FY27
Latest (Q1 FY27): Y/Y +1%, Q/Q +9%.
Barnes & Noble Education: where the cash came from (+) and went (−), TTM to Q1 FY27Barnes & Noble Education: where the cash came from (+) and went (−), TTM to Q1 FY27Operating cash flow$64.8MNet borrowing (+) / repaid (−)−$46.5MCapital spending−$16.0MOther financing−$3.1MCash drawn (+) / kept (−)$838K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Barnes & Noble Education: profit against cash, quarter by quarterBarnes & Noble Education: profit against cash, quarter by quarterNet incomeOperating cash flow$43.2M$47.4MQ2 FY25$17.9M−$41.9MQ3 FY25−$23.0M$52.6MQ4 FY25−$18.3M−$67.6MQ1 FY26$25.0M$66.2MQ2 FY26$6.7M−$29.4MQ3 FY26$3.5M$80.8MQ4 FY26−$12.9M−$52.9MQ1 FY27
Latest (Q1 FY27): Net income −$12.9M, Operating cash flow −$52.9M.
Barnes & Noble Education: diluted shares by fiscal year (split-adjusted)Barnes & Noble Education: diluted shares by fiscal year (split-adjusted)497MFY21518MFY2226MFY2327MFY2426MFY2535MFY26
-93.0% since FY21: buybacks shrank the count; earlier years scaled for the 10-for-1 split before FY25.
Barnes & Noble Education in its industry: growth against margin (6 companies, SIC 5940)Barnes & Noble Education in its industry: growth against margin (6 companies, SIC 5940)revenue growth, year over year →↑ operating marginmedian +3%median 0%DKSASOSPWHPEWKCRDBNED (+1%, -6%)
Retail-Miscellaneous Shopping Goods Stores; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

Buys from

About Barnes & Noble Education

Unless the context otherwise indicates, references to “we,” “us,” “our” and “the Company” refer to Barnes & Noble Education, Inc. or “BNED”, a Delaware corporation. References to “Barnes & Noble College” or “BNC” refer to our subsidiary Barnes & Noble College Booksellers, LLC. References to “MBS” refer to our subsidiary MBS Textbook Exchange, LLC. Our fiscal year is comprised of 52 or 53 weeks, ending on the Saturday closest to the last day of April. “Fiscal 2026” means the 52 weeks ended May 2, 2026, and “Fiscal 2025” means the 53 weeks ended May 3, 2025. "Fiscal 2027" means the 52 weeks ended May 1, 2027.

In its own words, from its 10-K, filed Jul 9, 2026.

Barnes & Noble Education against its Retail-Miscellaneous Shopping Goods Stores peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.8% against the peers' median +3%. Operating margin: -5.9% against the peers' median -0.4%.

CompanyQuarterRevenueY/YOp. margin
BNED Barnes & Noble EducationQ1 FY27$291M+0.8%-5.9%
DKS Dick's Sporting GoodsQ2 FY27$5.6B+53%7.9%
ASO Academy Sports & OutdoorsQ2 FY27$1.6B+3%15.0%
SPWH Sportsman's Warehouse HoldingsQ2 FY27$296M+0.6%-0.4%
PEW GrabAGun Digital HoldingsQ2 2026$23.2M+9%-11.1%
KCRD KindcardQ2 FY27$73K-20%-74.5%

Source: Barnes & Noble Education 10-Q on SEC EDGAR · CIK 1634117 · Retail-Miscellaneous Shopping Goods Stores

13F: who owns BNED and who is buying

Largest holders of BNED (13F)Largest holders of BNED (13F)Immersion$141MKanen Wealth Management LLC$42.9MWindward Management LP$20.8MBlackRock$14.8MMorgan Stanley$13.3MPrescott Group Capital Management…$11.0MVanguard Capital Management LLC$10.1MVanguard Group$9.8MGeode Capital Management, LLC$6.2MState Street$4.6M
Funds' net buying of BNED by quarter (13F)Funds' net buying of BNED by quarter (13F)$16.9M2024-09$382K2024-12$20.8M2025-03−$31.0M2025-06−$15.7M2025-09$12.4M2025-12$2.3M2026-03$20.3M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BNED

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：Barnes & Noble Education（BNED）财报

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