Franklin Covey Co. (NYSE:FC) Q3 2023 Earnings Call Transcript

It’s kind of a just-in-time, right now, it’s text-based. We push information to people just in time to be supportive of the learning journeys they’re on, but also to play the role of performance support coaching kind of in the moment. What AI could do for that would be tremendous. And I think one of the questions around AI is going to be, can you trust the source? And Franklin Covey being the most, if not one of the most trusted leadership companies out there, you can definitely trust where that information is coming from. And so, as we kind of turn AI on, so to speak, across different solutions, as it plays a bigger role in our impact platform in helping people monitor, measure, track, behavior change, feeding analytics back to our customers.

There’s a big opportunity there. We’re actually quite excited to buy it. And think it will be a great accelerant for us in a couple of important ways.

Nehal Chokshi: Do you have any actual developed, you know generative AI development programs that have been kicked off at this point in time or is this more of a discussion of where might you want to make such investments?

Paul Walker : Yes, great question. So, we don’t have anything that we have released to our clients yet. But – and we are working on things like what I just described. But we have not released – we have not officially put any of that into our offering for our clients yet. Expect to do so in the future, near future.

Nehal Chokshi: Near future. Okay. Great. Thank you.

Operator: Thank you. And I’m not showing any further questions in the queue. I’d like to turn the call back over to Paul for closing remarks.

Paul Walker: Okay. Wonderful. Thank you, Victor. Before we go, we had Bob on. And Bob was – we are going to turn to – just a minute to Bob to share a couple of thoughts. And he’s dropped. And so what we’re going to do, if it’s okay, Bob has prepared his remarks, we’re going to be happy to have them here. I’m going to ask Steve if he’d be willing to share what Bob wanted to say, so pretend for a minute that you’re listening to Bob. [Indiscernible] by the end of this, Steve, and he can share a thought or two as well.

Steve Young: Maybe I’ll try to talk in Bob’s voice. So, I’m really – what he was going to say, and it’s in his words. So, obviously, I, Bob, I’m delighted to be here with you all and share a couple of things. Okay. First, I would like to express to you our shareholders how much we appreciate and have appreciated your trust, support, and guidance. You are great advisers and supporters and our executive team wakes up every day determined to continue to earn your confidence, trust, and commitment. Second, I’d like to express to Paul, Steve, Jen, Sean and to the entire executive team, the Board, and I know you as shareholders, our appreciation and admiration for their great leadership and vision and for the remarkable way in which they lead and execute each day.

The strength of our combined ongoing leadership has and is significantly expanding the strength of our strategic moat, building an incredible future and creating significant value for our shareholders. And third, on behalf of myself and our remarkable Board of Directors, I would like to express to Paul, how much we admire him as a person, as a leader and as our CEO. Paul has done and is doing just an incredible job, and he has my full confidence out of the Board of the executive team on Franklin Covey’s employees and of our clients and customers, and I know of each of you. Given this, I am pleased to announce that Paul has been appointed to serve as a member of the company’s Board of Directors starting immediately, and that he will formally stand for election to the Board at this year’s Annual Shareholder Meeting.