FC - Franklin Covey Co. (FC) Q2 2024 Earnings Call Transcript
2024-03-27 22:43:07 ET
Franklin Covey Co. (FC)
Q2 2024 Earnings Conference Call
March 27, 2024 05:00 PM ET
Company Participants
Derek Hatch - Corporate Controller
Paul Walker - President & Chief Executive Officer
Steve Young - Chief Financial Officer
Conference Call Participants
Dave Storms - Stonegate
Jeff Martin - ROTH
Samir Patel - Askeladden Capital
Nehal Chokshi - Northland Capital
Presentation
Operator
Good day, and thank you for standing by. Welcome to the Second Quarter 2024 Franklin Covey Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.
I would now like to turn the conference over to your speaker for today, Derek Hatch. Please go ahead.
Derek Hatch
Thank you. Hello, everyone. On behalf of Franklin Covey it’s my pleasure to welcome you to our conference call to discuss our second quarter fiscal 2024 financial results. We hope that you're enjoying good weather wherever you are in the world this spring or fall if you're in the Southern Hemisphere.
Before we begin this presentation, we’d like to remind everybody that the presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon management's current expectations and are subject to various risks and uncertainties, including but not limited to the ability of the company to grow revenues, the acceptance of and renewal rates for our subscription offerings, including the All Access Pass and Leader In Me memberships, the ability of the company to hire productive sales and other client-facing professionals, general economic conditions, competition in the company's targeted marketplace, market acceptance of new offerings or services and marketing strategies, changes in the company's market share, changes in the size of the overall market for the company's products, changes in the training and spending policies of the company's clients and other factors identified and discussed in the company's most recent Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission.
Many of these conditions are beyond our control or influence, any one of which may cause future results to differ materially from the company's current expectations and there can be no assurance the company's actual future performance will meet management's expectations. These forward-looking statements are based on management's current expectations and we undertake no obligation to update or revise these forward-looking statements to reflect events or circumstances after the date of today's presentation except as required by law.
With that out of the way, we'd like to turn the time over to Mr. Paul Walker, our President and Chief Executive Officer. Paul?
Paul Walker
Thank you, Derek. Hello, everyone. Thanks so much for joining us today. We're glad to have the opportunity to talk with you. Joining me today are Steve Young, our CFO; Jennifer Colosimo, the President of the Enterprise Division [ph]; Sean Covey, the President of the Enterprise Division and other members of our executive team.
Our results for the second quarter came in right in line with our expectations with revenue of $61.3 million and adjusted EBITDA of $7.4 million, which was slightly stronger than expected. And our free cash flow was stronger than expected, $24.7 million in the first two quarters of this fiscal year....
Franklin Covey Co. (FC) Q2 2024 Earnings Call Transcript