good everyone. Thank and our morning, update. Brian, Thank joining you third you, quarter for
We continue scientific and for increasing to the development. AI capitalize demand responsible research on
in executing on overall. our of are and growth our year margin next. to objectives We outlook material in achieving And driving on and track recovery research remain well expansion we for this
fiscal our target. are margin we XXXX fact, raising In
data-driven content who the to may authoritive Wiley and corporations, insights those researchers For be to learners. new institutions, delivers and story,
development development in use the advancement responsible of science science, machine services. supporting in future world, the the and information some as the of and and Our research content cases applications other extensive medicine. essential and catalog most and analytics high-value valuable AI of important such and learning includes technology in In
the geopolitical economic ranging from acknowledge there, uncertainty policy and unrest. confidence swings and to inflation out tariffs, Let consumer me
disruption. many Wiley periods economic reminder, a through the during the been haven safe of for We cycles resiliency As has demonstrated great and a and over this pandemic. Recession XXX years, COVID
brands prosper. must-have and and publishing to remain resources markets content continue our While services,
demand stable balance over content is a global evidenced Supporting of remains and with compelling What strong unique noted, by mode and Wiley our consistent, long directly and years increasing are in investment. deliver R&D growth even As cash recognized correlated downturns. makes term? We economic our robust, resilient dividend brands. generation essential during with that this We're time compounding remain the and authoritive increases. trusted sheet XX markets as business as markets wide over consecutive consistent
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We corporate are sector, long-term early research and emerging the beneficiary in AI opportunities development. in with particularly in
with margins Wiley leadership finally, financial continuous aligned committed and at Our to liquidity. characteristics and healthy strong team low cash ample creation. the And and and improvement value leverage are generation, is
Let's talk we're about some of the seeing. favorable underlying trends
spend the output, primary as X%. research strong of R&D Global in XXXX First, continues growth remaining with driver of
Growth similar. projections XXXX for are
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development and multiple offers strategic application advantages. Wiley's Finally, AI in position
serves for bringing to and market vertical-specific large content our a training discussed, LLMs. models foundation previously As as language
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was and existing gears go me research our down further licensing segment growth Learning including with focus for comparisons expanded as softness an was growth an due to mid-single-digit books. Let customer. challenging AI on in call some project last quarter. to headlines our will driven the into shift technology by Revenue Chris academic detail in on our prior performance. discussed year in earnings and
expanded from our rapid growth the nearly Key trends. we takeaways to demonstrate Access and portfolio. calendar quarter complete, 'XX seeing growth season Subscription our Journal general renewal encouraging Open and XX% continues is include: We TA considerable a research opportunities. across seeing and very corporate a to build market, continue AI from but this this early vertical-specific It's pipeline of corporations. in leading intensive development of quarter licensing vertical-specific interest days we're agreement the are
a improvement and remains points year. margin improvement focus adjusted of I'm to operating pleased over expansion multiyear basis XX and prior of strategic margin XXX Margin points EBITDA basis report
As and trending guidance, later, continued end towards fiscal outlook next high 'XX year's and we to the EPS margin we margin for opportunities but significant will of will improvement. see we're we Chris target. discuss EBITDA our see fiscal our and margin talk raising targets, 'XX
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rose reflecting investments basis partially grew in margin X%, productivity points XX.X%. revenue initiatives. EBITDA offset operating to Adjusted by growth XXX and growth Our
adjusted for Our the from was XX.X%, margin XX.X%. quarter EBITDA up
Let's on talk objectives executing this we're about how year. our core
great in we of favorable. such our has of expand X% advanced AI Journal titles, to high-impact course, disciplines, life areas, portfolio areas this sciences, XX learning. our journal access publishing models, and encompasses This segment Leading a revenue open been franchise in growth continue success machine critical as be in recurring including program, solutions. story. and across with and over indicators The continue licensing growth to recovery key all driving Year-to-date, up is First, expansion research
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our XX.X%, operating XXX Through XX.X%. Third, adjusted driving basis to increased XXX points by margin to continued basis improvement. months, adjusted has and EBITDA improved points X margin
government funding. any and We impact environment. impact current me near-term our Let words don't on funding in U.S. We're on of close a recurring actions a with research anticipate U.S. say pipeline, the the the eye our given about lead publishing research on keeping programs, the exception our few associated potential volume impact times any multiyear agreements. of nature the of article potential
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shows diversification. and Let's R&D examine similar publication funding, geographic which
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deeply corporate the providing research analytics value there to more as believe and significant process. in research enablement and content we sustained model the is support process, into data integrating However, data such our and AI
continued recurring indicators both program. favorable position visibility. these strong see in Renewals we and and growth resilient together, are poised and summarize, models give Taken for research leading this To year us all our factors and to continue Open as expansion. Access
research quality will elements and for the gains. and essential remain long retaining term, scale authors Over our driving and market share attracting
corporate particularly Let's AI opportunity now long-term mentioned growth, I earlier. turn to the
developments years. we AI content vertical-specific the as research agreement for learning incorporates published seeing builds market. training agreement content on X large an expanded language backlist executed The for material defined the involving This QX broader announced previously expansion and backlisted than model project in we're quarter, purposes older promising This models. QX, in training
revenue to million $XX this total agreement brings last year The AI $XX million realized following million, year. our $X
licensing a agreements As a core important for reminder, reemphasize nonrecurring. activity It's Wiley. trading business X to Phase are these that represents
company. guiding take as of we Wiley's authors our knowledge content initiatives, deliver remain while and training require engage secure and with embrace accuracy authoritive AI such as models untrusted we optimal to new responsibility scientific on other our These rights straightforward. fundamental a As copyright learning the We outcomes. recognize AI-specific principles to protecting developers responsibility holders, a
training large-scale speed corporations we're AI-powered these from chemistry. content across health care, our sectors, tools and using training to LLM reduce critical R&D-centric times. cycle are encouraging up internal demand and Beyond companies R&D including from agreements, biopharmaceuticals development, agreements, seeing breakthroughs product identify and industrial multinational intensive Distinct these
are fully function collaborations learning demand although would research market, our content impact develop, a of licensing research materially recurring. market larger much highly its smaller represent AI many outcomes. as about a corporate applications new by disciplines support The we individual set likely be generating will revenue to and initiatives licensing streams to improving types And These are represents seeing. strategy across mutual to in development strategic Phase we're we but enabling the extend partnerships, with the the broad for is application on early the take of size, revenue they opportunities support. of addressable and Enhanced encouraged time X beyond
segment take results, I'll and you through to our now to year-to-date pass financial performance, the position. call Chris outlook
