Barnes & Noble Education Inc
bned.comWhat Do They Do?
Sells print and digital course materials through bookstores serving colleges, universities and schools, and wholesales textbooks.
10-K for FY2026, filed Jul 9, 2026
How Do They Make Money?
Students buy course materials and bookstore products directly, with payment generally collected at checkout or within a few days of a purchase; institutions generally pay for First Day materials after drop/add dates. Textbook rental revenue is earned over the rental period.
10-K for FY2026, filed Jul 9, 2026Given the growth of BNC First Day® affordable access course material programs, the timing of cash collection from our school partners may…View ↗
Revenue recognized for our BNC First Day® offerings is consistent with our policies outlined above for product, digital and rental sales…View ↗
Revenue from the rental of physical textbooks is deferred and recognized over the rental period based on the passage of time commencing at…View ↗
-
10-K for FY2026, filed Jul 9, 2026
FY2026 revenue by product or service (Product sales and other) ↗
$1.7B
-
10-K for FY2026, filed Jul 9, 2026
$1.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Course Materials Product Sales
Sold outright
10-K for FY2026, filed Jul 9, 2026 |
72% |
Course Materials Product Sales, FY2026
$1.1B Sources
|
Sold outright |
|
General Merchandise Product Sales
Sold outright
10-K for FY2026, filed Jul 9, 2026 |
23% |
General Merchandise Product Sales, FY2026
$358.1M Sources
|
Sold outright |
|
Service and Other Revenue
|
5.0% |
Service and Other Revenue, FY2026
$77.4M Sources
|
Who Are Their Customers?
Colleges, universities and K–12 institutions contract for official physical or virtual bookstores. Students, faculty, parents, alumni and fans shop through campus stores, school-branded websites and online bookstores; faculty and administrators use school-linked tools to select course materials.
10-K for FY2026, filed Jul 9, 2026As of May 2, 2026, we operated 647 physical campus bookstores. Our physical bookstores are typically operated under management agreements…View ↗
As of May 2, 2026, we operated 469 virtual campus bookstores. Our virtual bookstores generally operate under a contract as the…View ↗
As of May 2, 2026, we operated 647 physical college and university bookstore locations and 469 virtual bookstores (286 K-12 virtual stores…View ↗
Our campus relationships and contractual agreements allow us to seamlessly integrate into the college and university community. With direct…View ↗
Our customizable technology delivers a seamless experience providing students and faculty with the ability to research, locate and purchase…View ↗
Faculty and School AdministratorsView ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2026 and turned 2 cents into free cash flow.
10-K for FY2026, filed Jul 9, 2026
$36.5MView ↗
10-K for FY2026, filed Jul 9, 2026
$16.9MView ↗
10-K for FY2026, filed Jul 9, 2026
$33.9MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q1 FY2027, filed Sep 8, 2026
−$12.9MView ↗
- ▼ −29% (Loss)
- vs −$18.3M in Q1 FY2026
10-Q for Q1 FY2027, filed Sep 8, 2026
Open tableView ↗
Growing. Revenue grew 15% in 4 years, from $1.5B in FY2022 to $1.7B in FY2026, about 3% a year.
Digital education solutions
The older report described digital education solutions and said the Digital Student Solutions assets were sold; the latest describes campus bookstore operations and textbook wholesaling.
10-K for FY2023, filed Jul 31, 2023 10-K for FY2026, filed Jul 9, 2026Barnes & Noble Education, Inc. (“BNED”) is one of the largest contract operators of physical and virtual bookstores for college and…View ↗
Who Do They Compete With?
Competes with Follett, eCampus, University Gear Shop, BibliU, Valore Campus, Textbook Brokers, Slingshot, Akademos, Ambassador Educational Solutions, Amazon, Chegg.com, Cengage Learning, Pearson Education, McGraw-Hill Education, VitalSource Technologies, Sodexo, Aramark, GoTextbooks, Valore Books, and Texas Book
10-K for FY2026, filed Jul 9, 2026We operate within a competitive and rapidly changing business environment, and each of our lines of business face competition for the…View ↗
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