Barnes & Noble Education, Inc · NYSE:BNED

Barnes & Noble Education — FY2022 Earnings Presentation

13 slides from Barnes & Noble Education's earnings presentation, Jun 29, 2022

  1. Slide 1: Fiscal Year 2022 Financial Information

    Fiscal Year 2022 Financial Information June 2022

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements This presentation contains statements that may be characterized as forward‐looking statements under the Private Securities Litigation Reform Act of 1995. Those statements represent the current beliefs of management with respect to future events, financial performance and i

  3. Slide 3: Fiscal 2022 Fourth Quarter Review

    Fiscal 2022 Fourth Quarter Review $ in millions Metrics FY 2022 FY 2021 Inc./Dec. Sales $260.8 $222.8 $38.0 Retail Gross Comparable Store Sales 32.6% (6.9)% Textbook Comparable Store Sales 4.0% (17.9)% General Merchandise Gross Comp Store Sales 63.2% 9.6% Gross Profit $80.2 $35.9 $44.3 Selling & Adm

  4. Slide 4: Fiscal Year 2022 Review

    Fiscal Year 2022 Review $ in millions Metrics FY 2022 FY 2021 Inc./Dec. Sales $1,531.4 $1,433.9 $97.5 Retail Gross Comparable Store Sales 19.6% (26.1)% Textbook Comparable Store Sales 2.3% (15.2)% General Merchandise Gross Comp Store Sales 76.1% (45.9)% Gross Profit $372.8 $252.7 $120.1 Selling & Ad

  5. Slide 5: Non-GAAP Adjusted EBITDA Outlook

    Non-GAAP Adjusted EBITDA Outlook $ in millions $105 $42 $30 - $40 -$5 -$66 FY 19 FY 20 FY 21 FY 22 FY 23E NYSE: BNED 5

  6. Slide 6: Course Materials are Increasingly Moving towards a Digital Product Accelerated by Remote Learning

    Course Materials are Increasingly Moving towards a Digital Product that Has Been Accelerated by Remote Learning $ in millions FY19 FY20 FY21 FY22 Course Material Revenue $1,019 $932 $791 $844 Physical Materials 89% 84% 71% 65% Digital Materials 11% 16% 29% 35% Represents course material revenue at p

  7. Slide 7: First Day Complete Significantly Increases Course Material Sell-Through Rates

    First Day Complete Significantly Increases Course Material Sell-Through Rates Traditional Model First Day by Course First Day Complete 30% 98% 80% NYSE: BNED 7

  8. Slide 8: First Day by Course and First Day Complete Offerings are Helping Offset the Decline in Traditional Course Material Sales

    BNED’s First Day by Course and First Day Complete Offerings are Helping Offset the Decline in Traditional Course Material Sales $ in millions FY19 FY20 FY21 FY22 Course Material Revenue $1,019 $932 $791 $844 Traditional 97% 93% 86% 72% First Day Complete 0% 1% 2% 13% First Day by Course 3% 6% 12% 15

  9. Slide 9: And, First Day Complete is Scaling Rapidly

    And, First Day Complete is Scaling Rapidly $ in millions # of FDC Stores FDC Course Material Revenue 76 $106 65 12 14 $19 Fall '21 Spring '21 Fall '22 Spring '22 Fiscal Year 21 Fiscal Year 22 NYSE: BNED 9

  10. Slide 10: Schools that Implement First Day Complete Are Significantly Outperforming Schools Utilizing the Traditional Model

    Schools that Implement First Day Complete Are Significantly Outperforming Schools Utilizing the Traditional Model FY22 Course Material Revenue and Gross Profit Growth 83.2% 67.2% • Course Material Revenue Increased 67.2% at FDC schools vs. 0.5% at non-FDC Schools during FY22 • Course Material Gross

  11. Slide 11: Stores Experience Significant Revenue and Gross Profit Growth After Implementing First Day Complete

    Stores Experience Significant Revenue and Gross Profit Growth After Implementing First Day Complete $ in millions First Day Complete Cohorts* $116 90% Revenue Increase $61 131% Gross Profit $37 $16 Increase Revenue Gross Profit FY21 FY22 *Represents the 62 stores that adopted First Day Complete duri

  12. Slide 12: Strategic Initiatives Drive Business Model

    Strategic Initiatives Drive Business Model Inclusive Access Fanatics and Lids Partnership Growth of High Increase Model to Grow Accelerates General Margin Digital Number of Textbook Sales Merchandise Business Subscription Business Schools Served NYSE: BNED 12

  13. Slide 13: Q&A

    e ee eee @@@ © ELEVATING EDUCATION Q&RA

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