PCS Edventures! reported a 28.2% drop in revenue for the first quarter of fiscal year 2027, falling to $1.74 million compared to the same period a year earlier, the Meridian-based STEM education company announced Aug. 13.
At a Glance:
- PCS Edventures reports 28.2% revenue drop to $1.74 million
- Net income before taxes falls to $100,000 from $600,000
- President Mike Bledsoe expects improvement in next quarters
Net income before taxes declined to $100,000 from $600,000 in the year-ago quarter. Gross margin slipped 60 basis points to 62.8%. Cash on hand fell 1% to $2.65 million from the start of the fiscal year. The company also repurchased 32,556 shares on the open market during the quarter with the intent to cancel them.
Despite the results, President Mike Bledsoe said he expects improvement in the months ahead…