FC - Franklin Covey Company

[alexmiddle]

I could not find an existing thread on FC so I started this one.  I've noticed a few funds holding FC in their portfolio and was wondering if anyone has looked into this company and if they have any insight into the potential upside?  I understand they are trying to move to a subscription model for their business so their reported earnings look like a disaster. But even when you look at their FCF the stock does't look overly under priced. The business itself does not seem that great either.  They are no where close to peak revenue achieved in the late 90's and I can't really get around the belief that FC's curriculum/offerings are quite dated.