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Barnes & Noble Education (BNED) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jan 20, 2026
Barnes & Noble Education (BNED) reported revenue of $644M for the second quarter fiscal 2026 (Q2 FY26), +7% from a year earlier and +124% from the quarter before. Operating margin was 6.3%, net earnings $25.0M (3.9% of revenue).
Barnes & Noble Education, Q2 FY26: revenue $644M (+7% year over year), operating margin 6.3%, net earnings $25.0M, operating cash flow $66.2M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $644M | +124% | +7% |
| Gross profit | $130M | +134% | +1% |
| Operating profit | $40.8M | — | -13% |
| Net earnings | $25.0M | — | -42% |
| Operating cash flow | $66.2M | — | +40% |
| Free cash flow | $61.9M | — | +40% |
What changed
Revenue was $644.4M in Q2 FY26, up 7% year over year and up 124% from the previous quarter.
Gross margin was 20.1%, down 1.2 points from a year earlier. Operating profit was $40.8M, a 6.3% margin (down 1.5 points year over year). Operating profit fell $6.3M even though revenue rose $42.3M versus a year earlier, so costs grew faster than sales. Operating expenses grew 9% against revenue growth of 7%. The fastest-growing cost line was Other operating costs (+40%). Net earnings were $25.0M, down 42% year over year. The effective tax rate was 32.3%.
Operating cash flow was $66.2M (up 40% year over year), 265% of net earnings. Non-cash charges added back $7.6M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $31.8M. Capital expenditures of $4.3M left free cash flow of $61.9M.
Questions
What was Barnes & Noble Education's revenue in the second quarter fiscal 2026?
Barnes & Noble Education (BNED) reported revenue of $644M for the second quarter fiscal 2026 (Q2 FY26), +7% from a year earlier and +124% from the quarter before.
Was Barnes & Noble Education profitable in the second quarter fiscal 2026?
Operating profit was $40.8M (6.3% of revenue) and net earnings $25.0M.