Analogy 1: Like Dale Carnegie Training, but with highly recognized proprietary methodologies (e.g., 'The 7 Habits') at the core of its leadership and productivity solutions for businesses.

Analogy 2: Imagine Harvard Business Publishing if it also delivered hands-on corporate training and personal productivity systems based on its principles.

• Leadership & Productivity Training: Provides workshops, coaching, and consulting engagements to organizations and individuals focusing on leadership development, personal productivity, and cultural transformation.
• All Access Pass: Offers a comprehensive subscription service providing unlimited access to FranklinCovey's full range of digital content, courses, tools, and learning experiences.
• Planners & Productivity Tools: Develops and sells physical and digital planners, journals, and other organizational accessories designed to help individuals manage their time and tasks effectively.
• Assessments: Delivers diagnostic tools and surveys to measure leadership effectiveness, team dynamics, trust levels, and individual productivity within organizations.

Franklin Covey (symbol: FC) primarily sells its offerings to other companies and organizations globally (Business-to-Business, or B2B).

The company serves a highly diversified client base, and as such, does not publicly disclose specific names of individual "major customers" as no single client accounts for 10% or more of its total consolidated net sales (as stated in its SEC filings, such as the latest 10-K). Therefore, a list of specific customer company names with their symbols cannot be provided.

However, Franklin Covey broadly categorizes its primary customers by the types of organizations it serves:

• Large Corporations: This segment includes a significant portion of the Fortune 100 and Fortune 500 companies across various industries, utilizing Franklin Covey for leadership development, training, and performance improvement.
• Small and Mid-Sized Businesses (SMBs): Thousands of smaller and growing organizations also leverage Franklin Covey's content and solutions to enhance employee effectiveness and productivity.
• Government Entities: Various federal, state, and local government agencies are clients, seeking to improve leadership and operational efficiency within public sector organizations.
• Educational Institutions: Colleges, universities, and other educational organizations partner with Franklin Covey for leadership development programs, student success initiatives, and faculty training.

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Paul Walker, Chief Executive Officer

Paul Walker's career at FranklinCovey began in 2000 as a sales development associate. He quickly advanced through various roles, including client partner, area director, and general manager of the North America Central Region. In 2014, he took on responsibility for FranklinCovey's United Kingdom business. Walker relocated to the company's Utah headquarters in 2016, where he served as executive vice president of global sales and delivery, president of the Enterprise division, and then president and chief operating officer. He has been closely involved with three major acquisitions and has led numerous digital transformation projects, including the transition to the FranklinCovey All Access Pass. He has been the CEO of FranklinCovey since 2018.

Jessica G. Betjemann, Executive Vice President and Chief Financial Officer

Jessica G. Betjemann was appointed as FranklinCovey's Chief Financial Officer, effective May 1, 2025. She brings over 30 years of financial leadership experience. Most recently, she served as Executive Vice President and Chief Financial Officer of Gogo, Inc., a provider of inflight connectivity services. During her tenure at Gogo, Betjemann played a key role in the acquisition of Satcom Direct in 2024 and led the sale of Gogo's Commercial Aviation division in 2020. Prior to Gogo, she held senior leadership roles in strategy and business operations at Nokia, Alcatel-Lucent, Lucent Technologies, and AT&T.

Jennifer Colosimo, President, Enterprise Division

Jennifer Colosimo serves as president of FranklinCovey's enterprise division, overseeing global profitable growth. She previously held positions as senior vice president of sales and operations in the United States and Canada. Her career also includes leadership roles in IT, learning and development, and corporate social responsibility at Accenture, DaVita, FranklinCovey, and several private equity-backed organizations. Colosimo co-authored the book "Great Work, Great Career" with Dr. Stephen R. Covey.

Adam Merrill, Executive Vice President, Market & Customer Intelligence

Adam Merrill has over 30 years of experience in the learning industry and serves as FranklinCovey's executive vice president, market & customer intelligence. He has guided innovative product development teams and created award-winning solutions, playing a leading role in developing many of FranklinCovey's products, which have received over 150 awards. Merrill has also been deeply involved in the digital transformation of FranklinCovey's business. He is co-author of "The 5 Choices: The Path to Extraordinary Productivity".

Stephen M. R. Covey, Global Practice Leader

Stephen M. R. Covey is a New York Times and #1 Wall Street Journal bestselling author. He is the former CEO of Covey Leadership Center, which, under his leadership, became the largest leadership development company globally. He nearly doubled revenues and increased profits by 12 times at Covey Leadership Center, expanding the company into over 40 countries. He orchestrated a merger with Franklin Quest to form FranklinCovey, growing shareholder value to $160 million. Stephen also co-founded CoveyLink, a consulting practice, which recently merged with FranklinCovey to form the Global Speed of Trust Practice, where he now serves as Global Practice Leader.

• The rapid advancement and adoption of Artificial Intelligence (AI) in personalized learning, coaching, and skill development platforms, offering scalable and potentially more cost-effective alternatives to traditional human-led training and consulting.
• The continued proliferation of specialized, on-demand, and often lower-cost learning content and platforms within the "creator economy" and corporate e-learning space, enabling individuals and organizations to access targeted development programs outside of traditional training providers.

Addressable Markets for Franklin Covey's Products and Services:

Franklin Covey (FC) is anticipating several key drivers to fuel its revenue growth over the next 2-3 years, as outlined in recent earnings reports and conference calls:

1. Go-to-Market Transformation and Sales Force Realignment in Enterprise North America: The company is undergoing a significant transformation of its sales structure in Enterprise North America, which is expected to accelerate sales growth in future periods. This initiative aims for a more focused approach that has already shown strong momentum in invoiced amounts and new logo sales.
2. Continued Expansion and Performance of the Education Division: The Education Division, particularly the "Leader in Me" program, has demonstrated strong growth in subscription revenue and an increased number of contracted schools. This division's growing deferred revenue balance indicates a robust foundation for sustained revenue expansion.
3. Strategic Investments in Technology and AI Integration: Franklin Covey is leveraging strategic investments, including the integration of artificial intelligence, to enhance its product offerings, improve client engagement, and drive operational efficiencies. These technological advancements are expected to contribute to better client outcomes and overall revenue growth.
4. Growth in All Access Pass (AAP) Subscriptions and Multi-Year Contracts: The company's All Access Pass (AAP) subscription model, characterized by a high percentage of multi-year contracts, provides a stable and recurring revenue stream. The strategy of increasing contract renewal rates and expanding content investments is leading to higher average revenue per client and strengthening future margins.
5. Increased Services Bookings and New Client Acquisition in Enterprise North America: Beyond sales force realignment, specific growth in services bookings and the acquisition of new logos within the Enterprise North America segment are expected to be significant contributors to revenue. Double-digit increases in services bookings compared to the previous year highlight a positive trajectory for this segment.

Share Repurchases

• Franklin Covey's Board of Directors approved replenishing its authorization to repurchase up to $50 million of outstanding common stock on August 13, 2025. This new authorization includes any amounts remaining under the prior program.
• As of May 31, 2025, the company had repurchased approximately $17 million of common stock in fiscal year 2025, with about $28 million remaining under the prior $50 million authorization.
• Since 2021, Franklin Covey has invested approximately $96 million in stock repurchases.

Share Issuance

• On January 24, 2025, shareholders approved an amendment to the 2022 Omnibus Incentive Plan, increasing the number of shares available for issuance by 575,000, bringing the total authorized to 1,575,000 shares of common stock.

Outbound Investments

• In the third quarter of fiscal 2021, Franklin Covey invested $10.6 million related to the acquisition of Strive Talent, Inc.
• The company plans to continue investing in strategic opportunities such as product innovation, business transformation initiatives, and opportunistic acquisitions.

Capital Expenditures

• Capital expenditures reported were approximately $1.72 million in fiscal year 2025, $1.43 million in fiscal year 2024, $0.95 million in fiscal year 2023, and $1.67 million in fiscal year 2022.
• Fiscal year 2025 saw a $5 million increase in capital expenditures for building construction costs.
• The primary focus of capital expenditures includes continued spending in product innovation and business transformation initiatives.