BNED’s QQ2 2026 results depict a challenging quarter with material revenue and earnings headwinds alongside an aggressive cost structure. The available data indicate a YoY revenue decline of approximately 297.66% and a QoQ decline of around 200.00%, accompanied by a net income of -$7.11 million and an EPS of -$0.23 for the quarter. While the reported gross margin appears to be around 20.7%, the gross profit is negative, signaling potential data inconsistencies in the filings that require a close validation against the 10-Q. The consolidated EBITDA is negative at approximately -$10.76 million, and operating income is shown as a severe negative figure in the dataset, creating ambiguity around the true operating trajectory for the quarter. Management commentary (from the earnings call) is not represented in the provided transcript data, limiting the ability to extract precise quotes. Investors should treat the headline figures as indicative of deteriorating near-term profitability and cash flow stress, while awaiting the formal 10-Q/earnings call transcripts for reliable reconciliations and management guidance. The company continues to pursue its digital and subscription initiatives (e.g., Bartleby, Textbooks.com, and digital courseware) as a path to improve mix and long-term margins, but near-term results underscore substantial operating leverage required to stabilize the business.