Franklin Covey reported 4Q26 revenue of $70.0M, down 2% y/y, while adjusted EBITDA increased 9% to $12.8M and adjusted EBITDA margin expanded to 18.3% from 16.4%. Enterprise North America continued to show improving commercial momentum, with FY26 invoiced amounts increasing 4% to $151.4M and deferred revenue rising 17% to $59.2M, supported by higher sales productivity, larger new-client engagements, and continued expansion within retained accounts. For FY27, management guided to $263M–$273M of revenue and $29M–$34M of adjusted EBITDA, with North America expected to drive most of the growth and adjusted EBITDA growing faster than revenue. The planned transition of China to a locally owned licensee is expected to reduce FY27 reported revenue by approximately $2M without a material adjusted EBITDA impact, while continued conversion of deferred revenue and improved sales-force productivity support the Company’s earnings recovery.