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Barnes & Noble Education (BNED) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Dec 23, 2025
Barnes & Noble Education (BNED) reported revenue of $282M for the fourth quarter fiscal 2025 (Q4 FY25), +19% from a year earlier and -39% from the quarter before. Operating margin was -4.1%, net loss $23.0M (8.2% of revenue).
Barnes & Noble Education, Q4 FY25: revenue $282M (+19% year over year), operating margin -4.1%, net loss $23.0M, operating cash flow $52.6M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $282M | -39% | +19% |
| Operating profit | −$11.4M | -150% | — |
| Net earnings | −$23.0M | -423% | — |
| Operating cash flow | $52.6M | — | -36% |
| Free cash flow | $49.5M | — | -37% |
What changed
Revenue was $281.8M in Q4 FY25, up 19% year over year and down 39% from the previous quarter.
Gross margin was 25.0%, up 1.6 points from a year earlier. Operating costs exceeded revenue by $11.4M, an operating margin of -4.1%. Operating expenses fell 6% while revenue rose 19%. The quarter ended with a net loss of $23.0M, after a profit of $17.9M the previous quarter.
Operating cash flow was $52.6M (down 36% year over year). Non-cash charges added back $8.5M of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $64.7M. Capital expenditures of $3.1M left free cash flow of $49.5M.
Questions
What was Barnes & Noble Education's revenue in the fourth quarter fiscal 2025?
Barnes & Noble Education (BNED) reported revenue of $282M for the fourth quarter fiscal 2025 (Q4 FY25), +19% from a year earlier and -39% from the quarter before.
Was Barnes & Noble Education profitable in the fourth quarter fiscal 2025?
Operating loss was $11.4M (-4.1% of revenue) and net loss $23.0M.