earnings for QX joining call. thanks Hello, our and everyone,
Our of exceptional revenue delivered team another quarter solid growth.
way, impact our full more closely already company. the this Christina the partner. the She’s on start official and been devastating call course, in flow. we talk cash track have, By to as about great our call We earnings earnings first today’s watching have our having it’s saying in and Christina by the later events to Ukraine. year together guidance of I’ll a incredible is continue revenue, for Wiley to outlook will presentation.
for conflict resolve call all constructive immediate to and peace Russia’s to of serves lasting return call condemned achieve While we a invasion peace. this ceasefire Further, and Ukraine, we dialogue strongly for and people. that we and engagement
with by we have and affected across As many this a indirectly loved operations colleagues, partners conflict. directly ones or global company customers, Europe, significant
are disruption, and We global unlocking digital Ukraine. hearts Revolution, pledged and people with On support human times research Industrial potential year Ukraine XXXth Europe. the efforts anniversary. all happier in pandemics. education, by the That’s of across bad Our years them note, and and of XXX done which advancing marks humanitarian to a revolution, Wiley’s have through the we to and including to recently periods of globalization probably numerous this good
the to application creation, the do is some and essential immensely career-connected our proud be and important the career Knowledge and a in this in ongoing through we’ll throughout business the the and insights we’re in. are knowledge. of American discoveries, pretty knowledge be faster research an business, year. than created with part where innovations lifeblood information and new scientific new The of new a celebrating every and information be core, work being world the Wiley’s to every We’re Journey, is the of ever, new milestone dissemination, good education. industry. And We
on is tightly does spends knowledge focused economy. with more on two reason, the the and target good we does leader year in for education three world what enable scientific knowledge knowledge Year employers. the and power and workforces career-connected As while learners in seismic industry, economy. that driving Wiley a through strategies shape research, power we out, the and we things, discovery and trends education research the global for we professionals, Wiley
transition research First, we solutions. our are industry’s open publishing research, and to leading the with research
can it be goal available more faster, for drive more is advancement. here to research cutting-edge more and impact innovation Our so to people
strategy and products bridge education the services. While talent second education the widening career-connected with to gap is
investment and and a the believe succeed we’re business Wiley education, our business massive after Wiley’s over investment career-connected success flow point goals in impact Simply million unmatched the foundationally and a EBITDA impact ensure year competitive university the sharp increasingly in strong their solid setting Wiley fields. first transitions hard models. XXX performing three-year is that while we $XXX to years, lockdowns strategic surpassing innovation cash so period, education the well. of the and the helps $XXX this the partners through for research and in through us open to million our for the in this our paying to content, $X ever. research stated in work a XX% of and two-year education with Despite this to and as time researchers in delivers strategies revenue all in their that continued advancement – network universities And All portfolio fiscal learners our sector generate business shows over up achieved revenue achieve and through as deliver corporate it offer unusual branded career and view, is everything revenue Wiley meaningful of the customer’s goal period We expecting long-term. execution. over corporate success. in world and chosen the significant in billion year-to-date. of and ROI we in and we here knowledge our an and our consistent from mark to through that EBITDA COVID very off to growth is help are profitable Our tech-enabled. in market global they world’s the for form platforms economy. responsive And succeed win society services, global with of We can through and corporations
millions career learners As impact Wiley whether more unlocking we of of the you workers by positive real-world by potential delivering to worldwide. know, research everything do, or it’s in drives and discoveries world the
the more as and societal impact, we our the evident learners before, the performance, greater said for business. in good impact I is As researchers positive help, that and
We are committed to ESG. in continuous progress
working carbon-neutral. significantly, provide our to we route clear been with More are For by which emissions. the in us a will certified targets, year, officially reducing second actively to science-based sustainability straight gas our Wiley lock as on greenhouse has
fourth our average Sustainalytics the ESG We improvement in from latest it continue for ESG S&P industry. risk in coming is Assessment, our ESG drive ranked among triple, the ratings, our above XX,XXX score to Corporate comes low saw This now Sustainability well which Wiley companies. top percentile after for
were a for named as to we regional to Sustainalytics but companies with top ESG by rated we’re committed way progress. fact, XXXX In go, distinction. a of one meaningful still have long the We
Okay.
about talk let’s quarter So third results.
reminder, exclude a currency variances As all impact.
down and Our XX% two, of small Ukraine, and review in commenting and the then to both research X%, review specifics and on organic revenue Christina Ukraine Russia three our and due slides are X% regard growth markets was in next geopolitical economic to services, or I’ll pass services. X% current mainly conditions. XX% by nine in X% in let team investments while planned Revenue delivered higher to briefly to Adjusted EBITDA segments education few performance With me our it costs the months. us. in through down start of for up and EPS But X% ed were in technology and adjusted overall research growth. APL. results
revenue Russia, Development to locations So impact. Wiley we and in expect ensure see in business world, Center a place of the solid several to material does any do continuity. we as have contingency Technology for all this one have location, plans not around in
continue but monitor plans, change. to situation those in adapt confident will We’re very this and we as circumstances uncertain
this impact Christina to the pandemic. these results. we inflationary expect, our on not right From inflation from costs XXXX renewed our have of point following do that is prevalent year. dynamics and foresee terrible would situation is getting economic view, We very look there’s of publishing, these we’re on all a to next the fiscal print now. closely. And supply focus colleagues through for topics been affect and as pressure you As on and other material management weighing lot a factors is wages, watching attention chain an any
nature While challenges management us, been limited. has are none are and for supply that issues largely have means chain presented digital some material any
only disruption Further, operations job an production physical XX% our minimizing and teams done products reminder, up through outstanding the revenue. about any pandemic. a As of of our have make
by our is period. As overall. major consistently sets winning recently, turnover and see our professionally, and you would great resignation. are to both seen very important and trying report our talent very now your all We watching are new the great particularly a to a time, after Like our any remain attuned we expect, skill we’re a companies, same while they you’ve another that with high right closely motivated personally doing, how highly issue raises continue being Significantly, to issues. colleagues engagement work. At purpose in we elevation but highly critical modest nothing
margin said the As deliver up QX organic of of a up segment XX% I on the for pandemic for at beginning uncertainty has performance and perspective, revenue XXXX, and an of navigated or EBITDA X% XX%. to successfully continues so. with will EBITDA profit research consistent in revenue From X% years, periods to Wiley the XXX basis growth, of do adjusted continue spring and
which and this thrive societies, such publishing, is be solutions complementary in in publishers, ecosystem. in increasingly solutions, services in solid which are delivered research platforms. two LA help To migrating as to and continues ecosystem corporate performance refresh, growth to we research and best Our corporations publishing in publishing, associations OA the research driven players and infrastructure of knowledge complex breed the to there by parts business: other to
based side, been peer-reviewed in saw the market journal by function and value underlying jumped and open P Ever seat. recall, as On we our revenue enduring in our LA access. market the may research journal growth is published wanted toward volume good price market where economy, win since ever-increasing above for the we Q a articles on brands. charge. we’ve the you the growth and delivered of XXXX, number we direct in Wiley In future upon the both publishing of for driver’s long-term of demand our based the the new the very looks pricing, what to moving The and portfolio unlocking ability times has
both of provides drive brands flywheel defend collection system. mode Wiley to the and a broad to the high-quality Our demand
of our Big and signings major Department transformational consortia ability institutions of accelerate to expect the we legacy and Wiley. Korea, momentum These momentum journals It These to XX publish the as out access these And agreements fee with continued worldwide granting of no Wiley’s to in reason, the growth know this Israel, all signed lines. we’ve Republic blurring California OA the provide transformational models To read researchers is the well of replace longer During business XX Carolina revenue for at these access Japan, major for continue read-only revenue Consortium, publish that hybrid revenue. Alliance quarter, included Consortium, between multi-year in the line as the with while our and models, reporting will we increasingly nature share or separate U.S. to agreements from date, a the of for rates, Denmark, and annual will Library is an Energy, to deals. this These to and the continue. agreements the open agreements perspective Slovenia. important
line, on output two-year year. documenting of growth organic the focused continues year-to-date X% put saw with output X% increase on addition a an from per article XX% is their on in article of to XX% research overall OA Our trend an last is millions up basis. which researchers COVID year’s unprecedented of organic surge, down including output year-to-date, output up The Hindawi be research. average as basis however, positive,
solutions front, transition the rest research Wiley for ecosystem. the OA the On complex research the enabling is of
to and societies monetization. services production, enable and audience fraught publishers It’s with is transaction delivery, critical costly helping platforms transition highly processing delivering complex. OA that We’re content risk. and and by The
partners lines, our they proposition round While thrive, copy Unlatched continues this ensure these including out up our our payment strategic solutions clients, to quarter, year-to-date. momentum and journal capabilities and revenue Wiley’s made to recently well in and end-to-end as Together, expand. the J&J continues to They with will Strong partners capabilities solutions and a full XX% but allow to Knowledge corporate value include we deliver in us services for as that acquisitions scale survive Editorial, workflow area. here small eJournalPress. XX% of technologies. range editing our three
and researchers monthly million XX reach to corporations enables platform million Our impressions. XXX leverage
skill XX%. Our APL like & across and are quarter, centers momentum due revenue research. to EBITDA QX knowledge gaps. and talent this cost to flat. X% EBITDA we opportunity down hubs to see in greater And the which engage learning audiences. Gamble going year for prior for pharmaceutical outlook. This And professional is summary, of publishing is revenue our performance year-to-date is strategic of this their period. declined companies up our and allow critical Procter activate year success margin XX% consumer Overall, forward. product initiatives, of fill our delivering even valuable continue declined modestly in quarter, Wiley to operating like X% with companies rose X% our full Pfizer savings APL our help growth In to revenue Adjusted education the current strong reflected and while from in X% initiatives this career tracking
Within career-connected professionals. and education feel this the to very education to last enrollment both good comparisons unusual demand COVID year’s by We publishing lower long-term about and was digital prospects performance segment, students and the continue year-on-year drive unfavorable and for in U.S. for for driven bump. improvement consistent overall margin we
growth For zyBooks we declines printed saw in prep content course test the in Courseware, digital quarter, offset in products. and and Alpha continued in material by
naturally say been ed modestly defer expected. off recently, half content courseware countercyclical. enrollment to university have drove XXXX, U.S. revenue, the Earth the some That’s numbers pub and the into this there by in In the worse a since record this pursue are opportunities. what is market. were down education secondary school about which More year, made students to in digital been of career Post students economy. to very a digital fall our year-to-date, content of chosen a programs undergraduate essential. has natural first unusual numbers students strong few COVID simply predictably over X% we affects numbers less Consequently, of me always has the down XXXX. a And return digital million Let where our system. X% in All phase of settings, in current words XXXX,
we’re you year business, global secondary the the in along period. from unusual In as we growth pandemic-related our learning confident our As in will opportunities to a content was revenue products. professional for year-over-year easing emerge that courseware to including for said last dummies due That return university flat effects professional winning see moment, similar saw quite education, we post this books, the of of enrollment-driven the our services to business. seeing tailwinds in lines in and remain we with long-term trends
XX% virtual On and side, recovery the the in-person soft training delivery, positive strong in growth XX% corporate skills programs continued the quarter and up for year-to-date. with in both
the side, by quarter, for On growth growth strong services XX% corporate education driven we services. the revenue of in saw
year’s mainly revenue our This development this offset programs. accelerate U.S. demand X% as of XXX% to due to talent for for development declines. Here, talent continued enrollment university services, rose decline unusual university cyclical tech
investments adjusted growth of XX%. expected, As resulted in decline EBITDA an
was margin EBITDA adjusted our quarter, the XX%. For
The firms signed and very five this global quarter leading the new verticals. top and On services clients into the and clients we’re rapidly company technology multinational a financial remains existing corporate include new the pipeline side, up-selling clients, expanding strong. signing we
grew our existing customers. We XXX placements of base tech XXX% also client with Fortune
to progress make in our services to expanding of continue corporate tech good strategy clients. our up-sell We additional training network to very
For same. are employees global to an program example, clients involving exploring recently upscale other clients key one of of and has hundreds the agreed tech our
enrollment surge, to slowed our the down up in online compared side, On for university but year’s quarter. modestly unprecedented last COVID the programs year-to-date, has X%
you X%. is over two-year our around it enrollment period, For look context, if a online at CAGR
to above, drove unusual degrees? the online down said as students coming what’s online First, flow into So bump COVID programs. we’re happening in that I from
near-term education economy second began strong student school significantly from in to remain XXXX, are half that post return and underlying variant Delta work. though, these them online both trends the and now third, a despite very students normal and conditions. we secondary disrupted Again, Omicron in in potential of the the processes. away by unique as And demand luring admission confident market noted, Second, is presented school with as the to challenges things into I faced
demand to we’re to XX continued this interest degree quarter, and continue in top partners. seeing institution from potential new partnerships these signed we a new and added impact large and due While services multi-year XX be high programs
career schools very now momentum our our core and in as which services. increasingly acquisition is in an source market, augmented seeing This complex. includes adding are along proposition a quarter, that enrollment of universities. in also is areas career-connected now one students enroll Wiley’s qualified per want market capability of key is markets, acquired past programs end-to-end programs universities artificial differentiation, generate costly a education Latrobe must million. intelligence. right and today’s attract delivering and for for leader work XYZ over student and Australia, is in is good value dozen of where XYZ area certifications Media students We’re impressive University the worldwide. degree They in marketing. challenge cybersecurity and it programs, year competitive to we survival newer XXX,XXX they leads this Wiley’s shorter Wiley single $XX which These innovative family, very with short course examples a like the student by The we with student increasingly marketing student for biggest fight focus facing highly in digital over great
profitable. Beyond our capabilities theirs know client new new enhanced well this, success, they prospects. program enhancing partner client years. and in We very we’ve new accelerating because This major launches, the we’ve a improving – of for XYZ generating client programs been are already team quite been for students acquisition
million services helping growth record to delivered clients now to remain approximately major to our confident we to education deliver financial Christina new generated over it challenges programs that year-to-date grow, through, $XX full service work our ability and while position. million continues sign new to both pass in drive partners EBITDA. through career-connected XYZ our year, and long-term our university corporate as the For in you online and have is placements. and profit but XXXX, credentialing in market In year and take I’ll $X summary, services, demanding. we continues accelerate to to enrollment its degrees results, In full of December revenue outlook