Here are the 10-K annual reports from Educational Development Corp (EDUC) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow EDUC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full EDUC filings page.
Educational Development Corporation reports fiscal 2026 results marked by weaker sales but a return to profitability driven by a major real estate transaction and debt repayment. Net revenues fell to $22.9 million from $34.2 million, reflecting softer demand across both its PaperPie direct-selling division and Publishing wholesale channel.
The company generated net earnings of $2.3 million versus a prior-year loss of $5.3 million, largely due to a $12.2 million gain on the sale of its Tulsa “Hilti Complex” for $32.2 million. Proceeds were used to repay $26.7 million of term loans and a $4.2 million line of credit, eliminating its prior credit agreement and sharply reducing interest expense.
Underlying operations weakened: PaperPie net revenues declined 35.5% to $19.3 million, with average active Brand Partners dropping to 5,800 from 12,300, while Publishing revenues fell 16.3% to $3.6 million. The company remains heavily exposed to Usborne-sourced products and did not meet minimum purchase volumes in fiscal 2025 and 2026, though no termination notice has been received. Management emphasizes using positive operating cash flow of $2.0 million and sizable inventories to support liquidity, and auditors issued a clean opinion with no critical audit matters.