学乐教育 2025年季度报告

FORM10-Q Quarterly Reportpursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No.000-19860 For the quarterly period endedAugust31, 2025 SCHOLASTIC CORPORATION 13-3385513(IRS EmployerIdentification No.) Delaware(State or other jurisdiction ofincorporation or organization)557 Broadway,New York,New York(Address of principal executive offices) 10012(Zip Code) Registrant’s telephone number, including area code (212)343-6100 Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was requiredto file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (229.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) ofthe Exchange Act.☐ Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of Common Stock, as of the latest practicabledate: FORM 10-Q FOR THE QUARTERLY PERIOD ENDED August31, 2025 Page Part I - Financial InformationItem 1.Financial StatementsCondensed Consolidated Statements of Operations (Unaudited)3Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited)4Condensed Consolidated Balance Sheets (Unaudited)5Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited)6Condensed Consolidated Statements of Cash Flows (Unaudited)7Notes to Condensed Consolidated Financial Statements (Unaudited)8Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations22Item 3.Quantitative and Qualitative Disclosures about Market Risk29Item 4.Controls and Procedures30Part II - Other InformationItem 2.Unregistered Sales of Equity Securities and Use of Proceeds31Item 5.Other Information32Item 6.Exhibits37Signatures35 SCHOLASTIC CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS – UNAUDITED(Dollar amounts in millions, except per share data) 1.BASIS OF PRESENTATION Principles of consolidation The accompanying condensed consolidated interim financial statements (referred to as the “FinancialStatements” herein) include the accounts of Scholastic Corporation (the “Corporation”) and all wholly-ownedand majority-owned subsidiaries (collectively, “Scholastic” or the “Company”). The Company reviews itsrelationships with other entities to identify whether it is the primary beneficiary of a variable interest entity(“VIE”). If the determination is made that the Company is the primary beneficiary, then the entity isconsolidated. Intercompany transactions are eliminated in consolidation. The Company’s fiscal year is not a calendar year. Accordingly, references in this document to fiscal 2026 relateto the twelve-month period ending May31, 2026. Certain prior period amounts have been reclassified toconform with the current year presentation. Interim Financial Statements The accompanying Financial Statements have been prepared in accordance with U.S. generally acceptedaccounting principles (“U.S. GAAP”) and Article 10 of Regulation S-X of the U.S. Securities and ExchangeCommission (“SEC”) for interim financial information, and should be read in conjunction with the Company’sAnnual Report on Form 10-K for the fiscal year endedMay31, 2025. TheFinancial Statementspresented in thisQuarterly Report on Form 10-Q are unaudited; however, in the opinion of management, theFinancialStatementsreflect all adjustments, consisting solely of normal, recurring adjustments, necessary for the fairpresentation of the Financial Statements for the periods presented. Seasonality The Company’sChildren’s Book Publishing and Distributionschool-based book club and book fair channelsand most of itsEducation Solutionsbusinesses operate on a school-year basis; therefore, the Company’sbusiness is highly seasonal. As a result, the Company’s revenues in