On this page of StockholderLetter.com we present the latest annual shareholder letter from EDUCATIONAL DEVELOPMENT CORP — ticker symbol EDUC. Reading current and past EDUC letters to shareholders can bring important insights into the investment thesis.
2026
Dear Shareholders, At Educational Development Corporation, our work has always been about more than books, products, or quarterly performance. We believe education is a catalyst for wonderment, kindness, and connection, and that belief continues to guide every decision we make. Through our people, our purpose, and our products, we are committed to creating the story of tomorrow by helping children discover curiosity, con dence, and a lifelong love of learning. Even in a challenging environment, our mission remains constant and continues to serve as both our foundation and our motivation for the future. This past year presented continued challenges, re ecting broader trends across the publishing industry. While the results were not where we want them to be, we made meaningful progress on several fronts that position our company for greater stability and future growth The most signi cant milestone of the year was the successful completion of the sale-leaseback of our headquarters. This transaction allowed us to fully eliminate our debt, strengthening our balance sheet and providing a level of nancial exibility we have not had in many years. Entering the coming year debt-free fundamentally changes our strategic options and reduces risk as we navigate a stilluncertain market. In parallel, we continued the process of establishing a new banking relationship and are now into what has been a smooth and successful transition. This partnership better aligns not only with our current needs, but also with our goals for the future, supporting the disciplined approach we are taking toward capital management. Operationally, we have begun implementing Phase I of our strategic turnaround plan. This initial phase focuses on a measured and conservative investment in new titles, alongside reprints of proven bestsellers. Early feedback from our sales force has been encouraging. Their positive reception reinforces our belief that a more intentional, solution-driven publishing strategy will resonate in the market and support improved performance over time. Another important component of our strategic turnaround plan is growing our Brand Partner base. This remains one of the most signi cant opportunities for long-term success. It does require us to adapt to changing consumer expectations and behaviors. Like many companies in the direct selling industry, we recognize that connecting with the Gen Z demographic has been a challenge across the sector. This generation approaches both business opportunities and purchasing decisions differently than prior generations, and we are committed to evolving alongside them. Our approach is multi-pronged and will enable us to deliver the type of experience younger consumers are seeking from the companies they choose to engage with. That includes positioning PaperPie as a trusted source of solutions for modern parenting challenges, while also making it easier and more intuitive to do business with us through continued improvements to the overall user experience. As such, we have continued to invest in technology to better support our independent sales force. During the year, we launched a revamped fundraising program, Gathered Goods, with its own online platform for start to nish fundraising management. This new offering is designed to simplify the customer experience and expand opportunities for our sellers. In addition, we implemented the rst phase of our account credits initiative. This capability gives us greater exibility in how we reward, incentivize, and support our customers and our Brand Partners with product-based programs. These program changes and site updates are important steps in our strategy to continue to reduce friction in the selling process. At the same time, we maintained a strong emphasis on cost discipline. Within our distribution operations, we continued to consolidate activities and streamline processes, resulting in meaningful expense reductions. These efforts are critical as we align our cost structure with current demand levels while preserving our ability to scale efficiently as sales increase. We recognize that children s books are often a discretionary purchase, and our core customers continue to feel pressure from broader economic factors. That reality makes our path forward more challenging, but it also underscores the importance of the actions we are taking. A stronger balance sheet, a more focused product strategy, improved tools for our sales force, and continued cost control are all essential components of returning to sustainable growth. I remain con dent in the strength, resilience, and dedication of our employees, leadership team, retail sales reps, and independent sales force. Their commitment to both our customers and our mission continues to be a de ning strength of this company. While the publishing and direct selling landscapes continue to evolve, our purpose remains clear. We are not simply building a stronger company; we are building a company that continues to make a meaningful difference in the lives of children, families, educators, and communities. I remain deeply con dent in the resilience, creativity, and commitment of our employees, Brand Partners, and leadership team. Together, we will continue advancing our mission of creating the story of tomorrow through people, purpose, and products, while inspiring the next generation through the powerful intersection of education and play. Thank you for your continued support and trust. Sincerely, Craig White Chief Executive Officer Educational Development Corporation
 • shareholder letter icon 5/28/2026 Letter Continued (Full PDF)
 • stockholder letter icon 5/17/2023 EDUC Stockholder Letter
 • stockholder letter icon 5/28/2024 EDUC Stockholder Letter
 • stockholder letter icon 5/22/2025 EDUC Stockholder Letter
 • stockholder letter icon More "Publishing & Printing" Category Stockholder Letters
 • Benford's Law Stocks icon EDUC Benford's Law Stock Score = 85


EDUC Shareholder/Stockholder Letter Transcript:

2026

Dear Shareholders,
At Educational Development Corporation, our work has always been about more than books, products, or quarterly performance.
We believe education is a catalyst for wonderment, kindness, and connection, and that belief continues to guide every decision we
make. Through our people, our purpose, and our products, we are committed to creating the story of tomorrow by helping children
discover curiosity, con   dence, and a lifelong love of learning. Even in a challenging environment, our mission remains constant and
continues to serve as both our foundation and our motivation for the future.
This past year presented continued challenges, re   ecting broader trends across the publishing industry. While the results were not
where we want them to be, we made meaningful progress on several fronts that position our company for greater stability and future
growth 
The most signi   cant milestone of the year was the successful completion of the sale-leaseback of our headquarters. This transaction
allowed us to fully eliminate our debt, strengthening our balance sheet and providing a level of    nancial    exibility we have not had in
many years. Entering the coming year debt-free fundamentally changes our strategic options and reduces risk as we navigate a stilluncertain market.
In parallel, we continued the process of establishing a new banking relationship and are now into what has been a smooth and
successful transition. This partnership better aligns not only with our current needs, but also with our goals for the future, supporting
the disciplined approach we are taking toward capital management.
Operationally, we have begun implementing Phase I of our strategic turnaround plan. This initial phase focuses on a measured
and conservative investment in new titles, alongside reprints of proven bestsellers. Early feedback from our sales force has been
encouraging. Their positive reception reinforces our belief that a more intentional, solution-driven publishing strategy will resonate
in the market and support improved performance over time.
Another important component of our strategic turnaround plan is growing our Brand Partner base. This remains one of the most
signi   cant opportunities for long-term success. It does require us to adapt to changing consumer expectations and behaviors. Like
many companies in the direct selling industry, we recognize that connecting with the Gen Z demographic has been a challenge across
the sector. This generation approaches both business opportunities and purchasing decisions differently than prior generations, and
we are committed to evolving alongside them. Our approach is multi-pronged and will enable us to deliver the type of experience
younger consumers are seeking from the companies they choose to engage with. That includes positioning PaperPie as a trusted
source of solutions for modern parenting challenges, while also making it easier and more intuitive to do business with us through
continued improvements to the overall user experience.
As such, we have continued to invest in technology to better support our independent sales force. During the year, we launched a
revamped fundraising program, Gathered Goods, with its    own online platform for start to    nish fundraising management. This new
offering is designed to simplify the customer experience and expand opportunities for our sellers. In addition, we implemented the
   rst phase of our account credits initiative. This capability gives us greater    exibility in how we reward, incentivize, and support our
customers and our Brand Partners with product-based programs. These program changes and site updates are important steps in our
strategy to continue to reduce friction in the selling process.
At the same time, we maintained a strong emphasis on cost discipline. Within our distribution operations, we continued to
consolidate activities and streamline processes, resulting in meaningful expense reductions. These efforts are critical as we align our
cost structure with current demand levels while preserving our ability to scale efficiently as sales increase.
We recognize that children   s books are often a discretionary purchase, and our core customers continue to feel pressure from broader
economic factors. That reality makes our path forward more challenging, but it also underscores the importance of the actions we are
taking. A stronger balance sheet, a more focused product strategy, improved tools for our sales force, and continued cost control are all
essential components of returning to sustainable growth.
I remain con   dent in the strength, resilience, and dedication of our employees, leadership team, retail sales reps, and independent
sales force. Their commitment to both our customers and our mission continues to be a de   ning strength of this company.
While the publishing and direct selling landscapes continue to evolve, our purpose remains clear. We are not simply building a
stronger company; we are building a company that continues to make a meaningful difference in the lives of children, families,
educators, and communities. I remain deeply con   dent in the resilience, creativity, and commitment of our employees, Brand
Partners, and leadership team. Together, we will continue advancing our mission of creating the story of tomorrow through people,
purpose, and products, while inspiring the next generation through the powerful intersection of education and play.
Thank you for your continued support and trust.
Sincerely,
Craig White
Chief Executive Officer
Educational Development Corporation


shareholder letter icon 5/28/2026 Letter Continued (Full PDF)
 

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