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Franklin Covey (NYSE:FC) stock has added 16.2% to $44.20 in Thursday morning trading, after the coaching solutions provider reported Q3 2022 earnings that beat on both top and bottom line.
FC after hours on Wednesday said its Q3 GAAP EPS was $0.51, which handily beat estimates by $0.33. Q3 revenue came in at $66.18M, which beat by $1.91M.
FC also increased its guidance for 2022 and said it now expects adj. EBITDA to come in between $40M to $41.5M.
Salt Lake City, Utah-based FC provides companies and organizations tools, methodology, training and leadership coaching solutions.
FC said its Q3 revenue of $66.18M was a record for the company. The revenue jumped 12.7% Y/Y on the back of a 32% Y/Y growth in its All Access Pass subscription and subscription services sales.
FC’s quarterly sum of billed and unbilled deferred subscription revenue increased 21% Y/Y to $116.5M.
“Our average revenue per client increased to $47,000. Revenue retention continued to be well above 90%, and our services attach rate increased to 66% for the latest 12 months,” FC CEO Paul Walker said on the earnings conference call.
Up to Wednesday’s close, FC stock +70.8% YTD.
Also read an analysis on FC after its earnings beat: Franklin Covey: Buy Aggressively On A Q3 Earnings Beat
