Barnes & Noble Education, Inc. (NYSE: BNED) released preliminary, unaudited financial results for its fiscal year ended May 2, 2026, reporting an expected net income of $15 million to $18 million, compared to a net loss of $65.8 million in the prior year.

Full-year revenue is expected to be between $1.710 billion and $1.720 billion, an increase of approximately $100 million to $110 million, or 6.2% to 6.8%, over fiscal 2025.

Revenues from the company's BNC First Day programs are expected to rise by $160.3 million to $166.3 million, or 27% to 28%, year-over-year. Adjusted EBITDA is expected in the range of $75 million to $77 million, up from $59.4 million in fiscal 2025, representing a 26% to 30% increase.

Total debt at year-end is expected to be $71.0 million, down from $103.1 million at the end of fiscal 2025. Net debt, after subtracting $8.4 million in cash, is expected to be $62.6 million, a reduction of approximately 33% year-over-year.

The prior year's net loss included a $55.2 million loss on extinguishment of debt, which did not recur in fiscal 2026.

For fiscal 2027, the company is targeting Adjusted EBITDA of $85 million to $92 million and anticipates approximately $20 million in capital expenditures.

The company's board declared a quarterly cash dividend of $0.08 per common share, payable July 30, 2026, to shareholders of record as of July 16, 2026.

Chief Executive Officer Jonathan Shar attributed the results to First Day program growth, comparable store performance, expense management, and new store partnerships. The figures are preliminary and unaudited, pending completion of audit procedures.