{"success":true,"data":{"pressRelease":{"id":"134969","rtpr_id":"nBw8v33CNa","ticker":"WLY","exchange":"NYSE","all_tickers":["WLY"],"title":"Wiley Reports First Quarter 2027 Results; Q1 in Line With Expectations and Full Year Outlook Reaffirmed","author":"Business Wire","published_at":"2026-09-03T11:30:00.402Z","article_body":"Wiley Reports First Quarter 2027 Results; Q1 in Line With Expectations and\nFull Year Outlook Reaffirmed\n\nStrength in Research and AI offset by prior year comparison and softness in\nLearning – Emerald integration ahead of schedule\n\nWiley (NYSE: WLY), a global leader in authoritative content and research\nintelligence for the advancement of scientific discovery, innovation, and\nlearning, today reported results for the first quarter ended July 31, 2026.\n\nFirst Quarter Summary\n\n\n * GAAP performance vs. prior year: Revenue of $386 million vs. $397 million\n(-3%); Operating Income of $3 million vs. $31 million and Diluted Earnings Per\nShare (EPS) of $(0.23) vs. $0.22 largely due to restructuring charges and\nacquisition and integration related costs.\n\n * Adjusted Results at constant currency: Revenue of $386 million vs. $397\nmillion (-3%), with growth in Research and contributions from the Emerald\nacquisition offset by prior year AI licensing revenue of $29 million and\nmarket-related softness in Learning. Adjusted Operating Income of $31 million\n(-9%), Adjusted EBITDA of $68 million (-4%), and Adjusted EPS of $0.44 (-10%)\nprimarily due to revenue performance, with Adjusted EPS further impacted by\nhigher net interest expense related to the acquisition.\n\n * Research growth: Strong demand to publish and output trends continue. Revenue\ngrew 4%, with Research Publishing up 12% (including two months from Emerald)\noffsetting a prior-year AI licensing comparison in Research Solutions.\nAdjusted EBITDA margin rose 130 basis points.\n\n * AI and data analytics momentum: AI licensing revenue totaled $14 million for\nthe quarter. The pipeline continues to expand across model training,\ncommercial licensing, and subscription knowledge feeds. Wiley became the only\nscientific publisher in the U.S. Department of Energy’s Genesis Mission and\na founding data partner in CuspAI’s materials foundry. Wiley also launched\nits breakthrough Spectral Analysis API portfolio in the quarter, delivering\n\"gold standard\" chemical reference data directly into automated laboratory\nsoftware pipelines.\n\n * Cost savings: Wiley’s continued focus on efficiency drove a 19% improvement\n($8 million) in corporate expenses on an Adjusted EBITDA basis through\ntechnology transformation and restructuring.\n\n * Returns to shareholders: The Company increased its dividend for the 33rd\nconsecutive year and allocated $33 million to dividends and share repurchases\nthis quarter.\n\nManagement Commentary\n\n“We delivered the quarter we planned for, and the momentum between Research\nand AI keeps building: Research is fueling the trusted content that\naccelerates AI, and AI is driving the productivity that accelerates\nResearch,” said Matthew Kissner, President and CEO. “You can see it in our\nResearch and AI pipelines, and in our selection as the only scientific\npublisher in the U.S. Department of Energy’s Genesis Mission and as founding\ndata partner in CuspAI’s global materials foundry—choices that reflect not\njust our scale, but the quality and trust we’ve built over two centuries.\nPrior year AI licensing comparisons affected both segments this quarter,\nparticularly Learning, and we expect improvement over the balance of the year\nas comparisons normalize and demand in that segment stabilizes.”\n\nFinancial Summary\n\nPlease see accompanying financial tables for more detail.\n\nResearch Segment\n\n\n * Research revenue of $293 million was up 4% as reported and at constant\ncurrency, with Research Publishing up 12% (CC) largely driven by the addition\nof Emerald ($13 million in two months) and strong growth in gold open access\nand AI licensing. This was partially offset by a 30% decline (CC) in Research\nSolutions largely due to prior year AI licensing comparison ($16 million vs.\n$4 million this quarter).\n\n * Research Adjusted EBITDA of $87 million was up 9% (CC) including a $5 million\ncontribution from Emerald. Adjusted EBITDA margin for the quarter rose 130\nbasis points to 29.6%.\n\n * During the quarter, Wiley acquired Emerald Publishing for approximately $450\nmillion in cash, net of cash acquired, or roughly 7 times Adjusted EBITDA on a\nsynergized basis including $30 million of targeted cost synergies. Emerald\nbrings nearly 500 journals, thousands of book titles and case studies, and\n500,000 backfile assets. The acquisition expands Wiley's portfolio to roughly\n2,500 journals and establishes a top-one-or-two position across key areas of\neconomics, business, and finance.\n\nLearning Segment\n\n\n * Learning revenue of $93 million was down 19% as reported and 20% (CC)\nreflecting prior year AI licensing comparison in Academic and Professional ($8\nmillion and $5 million, respectively) and softness in consumer and corporate\nspending. Q1 is Wiley’s seasonally lightest quarter in Academic.\n\n * Learning Adjusted EBITDA of $14 million was down 56% (CC) primarily reflecting\nrevenue performance and mix.\n\nCorporate Expenses\n\n“Corporate Expenses” are the portion of shared services costs not\nallocated to segments.\n\n\n * Corporate Expenses on an Adjusted EBITDA basis improved 19% ($8 million) as\nreported and at constant currency driven by technology transformation and\ncontinued restructuring savings.\n\nBalance Sheet, Cash Flow, and Capital Allocation\n\n\n * Net Debt-to-EBITDA ratio (TTM) at quarter end was 2.7x compared to 1.9x in the\nyear-ago period, reflecting higher net debt of $1,185 million vs. $746 million\ndue to the June 1 acquisition of Emerald. Wiley’s proforma leverage is 2.1x\nincluding Emerald synergies.\n\n * Net Cash Used in Operating Activities was $55 million compared to $85 million\nin the prior year, reflecting the anticipated recovery in cash collection\nrelated to late Q4 renewal signings. Note, Wiley’s regular use of cash in\nthe first half of the fiscal year is driven by the timing of cash collections\nfor annual journal renewals, which are concentrated in Q3 and Q4.\n\n * Free Cash Flow was a use of $70 million compared to a use of $100 million in\nthe prior year. Capex was $14 million, down $1 million.\n\n * Returns to Shareholders: Wiley allocated $33 million toward dividends and\nshare repurchases. $15 million was allocated to share repurchases, up from $14\nmillion in the prior-year period, and the dividend was raised for the 33rd\nconsecutive year.\n\nFiscal 2027 Outlook\n\nWiley is reaffirming its full year outlook based on key leading indicators,\nincluding strong pipelines in publishing and AI licensing, and anticipated\ncost savings.\n Metric Fiscal 2025 Fiscal 2026 Fiscal 2027 Outlook \n Organic Revenue Growth*     Low-to-mid single digit growth \n \n \n \n(Research: mid-single digit growth) \n Adjusted EBITDA Margin 24.0% 26.2% 26.5% to 27.5% \n Adjusted EPS $3.64 $4.19 $4.60 to $5.05 \n Free Cash Flow $126M $195M $205M \n   \n *Organic Revenue Growth” excludes the effects of the Emerald acquisition and \n currency movements. All other metrics include the addition of Emerald. Emerald \n is projected to add $78 million to Revenue (11 months of Fiscal Year) and be \n accretive to Adjusted EPS by approximately $0.10 and dilutive to Free Cash \n Flow by $15 million (the Emerald acquisition is expected to turn Free Cash \n Flow accretive in Fiscal 2028) \n\n\n\n * Organic Revenue Growth - driven by expected core growth in Research and\nanother strong year for AI and data analytics growth initiatives.\n\n * Adjusted EBITDA Margin – reflecting anticipated cost savings and ongoing\nefficiency gains balanced with high-return, sustainable growth investment.\n\n * Adjusted EPS – growth expectation driven by higher expected Adjusted\nOperating Income\n\n * Free Cash Flow – driven by expected cash earnings growth partially offset by\nyear 1 dilution from Emerald ($15M), higher capex ($80M vs. $65M in FY26),\nexpected restructuring costs, and higher cash taxes.\n\nEarnings Conference Call\n\nScheduled for today, September 3 at 10:00 am (ET). Access webcast at Investor\nRelations at investors.wiley.com, or directly at\nhttp://events.q4inc.com/attendee/638218988\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fevents.q4inc.com%2Fattendee%2F638218988&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=http%3A%2F%2Fevents.q4inc.com%2Fattendee%2F638218988&index=1&md5=2da504637aff72c6e43522614d225b73)\n. North American callers, please dial (833) 461-5787 and enter the meeting ID:\n638 218 988. International callers, please dial (585) 542-9983 and enter the\nmeeting ID: 638 218 988.\n\nAbout Wiley\n\nWiley (NYSE: WLY) is a global leader in authoritative content and research\nintelligence for the advancement of scientific discovery, innovation, and\nlearning. With more than 200 years at the center of the scholarly ecosystem,\nWiley combines trusted publishing heritage with AI-powered platforms to\ntransform how knowledge is discovered, accessed, and applied. From individual\nresearchers and students to Fortune 500 R&D teams, Wiley enables the\ntransformation of scientific breakthroughs into real-world impact. From\nknowledge to impact—Wiley is redefining what's possible in science and\nlearning. Visit us at Wiley.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.wiley.com%2Fen-us&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=Wiley.com&index=2&md5=45bff053ca5e78ce4cd51dcf35ea3ac7)\nand Investors.Wiley.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Finvestors.wiley.com%2Foverview%2Fdefault.aspx&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=Investors.Wiley.com&index=3&md5=10997a9da6294af965515327053d59ac)\n. Follow us on Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FJohnWileySons%2F&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=Facebook&index=4&md5=04ca533f3152f2fc8787a690320adda2)\n, X\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fx.com%2FWileyGlobal&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=X&index=5&md5=7dcfb2b291483de1604ca722e949df2f)\n, LinkedIn\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fjohn-wiley-and-sons%2F&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=LinkedIn&index=6&md5=0ea90d038e51971dfd8553dbc312e1d4)\nand Instagram\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Fwiley_global%2F&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=Instagram&index=7&md5=93db14c9d1cacfb375c648b82d40eb18)\n\nNon-GAAP Financial Measures\n\nWiley provides non-GAAP financial measures and performance results such as\n“Adjusted EPS,” “Adjusted Operating Income,” “Adjusted EBITDA,”\n“Adjusted Income before Taxes,” “Adjusted Income Tax Provision,”\n“Adjusted Effective Income Tax Rate,” “Free Cash Flow less Product\nDevelopment Spending,” “organic revenue,” and results on a Constant\nCurrency basis to assess underlying business performance and trends.\nManagement believes non-GAAP financial measures, which exclude the impact of\nrestructuring charges and credits and certain other items, and the impact of\ndivestitures and acquisitions provide a useful comparable basis to analyze\noperating results and earnings. See the reconciliations of non-GAAP financial\nmeasures and explanations of the uses of non-GAAP measures in the\nsupplementary information. We have not provided our 2027 outlook for the most\ndirectly comparable U.S. GAAP financial measures, as they are not available\nwithout unreasonable effort due to the high variability, complexity, and low\nvisibility with respect to certain items, including restructuring charges and\ncredits, acquisition and integration related costs, gains and losses on\nforeign currency, and other gains and losses. These items are uncertain,\ndepend on various factors, and could be material to our consolidated results\ncomputed in accordance with U.S. GAAP.\n\nForward-Looking Statements\n\nThis release contains certain forward-looking statements concerning the\nCompany's operations, performance, and financial condition. Reliance should\nnot be placed on forward-looking statements, as actual results may differ\nmaterially from those in any forward-looking statements. Any such\nforward-looking statements are based upon a number of assumptions and\nestimates that are inherently subject to uncertainties and contingencies, many\nof which are beyond the control of the Company and are subject to change based\non many important factors. Such factors include, but are not limited to: (i)\nthe level of investment in new technologies and products; (ii) subscriber\nrenewal rates for the Company's journals; (iii) the financial stability and\nliquidity of journal subscription agents; (iv) the consolidation of book\nwholesalers and retail accounts; (v) the market position and financial\nstability of key online retailers; (vi) the seasonal nature of the Company's\neducational business and the impact of the used book market; (vii) worldwide\neconomic and political conditions; (viii) the Company's ability to protect its\ncopyrights and other intellectual property worldwide (ix) the ability of the\nCompany to successfully integrate acquired operations and realize expected\nsynergies and opportunities; (x) the ability to realize operating savings over\ntime and in fiscal year 2027 in connection with our multiyear Global\nRestructuring Program and completed dispositions; (xi) cyber risk and the\nfailure to maintain the integrity of our operational or security systems or\ninfrastructure, or those of third parties with which we do business; (xii) as\na result of acquisitions, we have and may record a significant amount of\ngoodwill and other identifiable intangible assets and we may never realize the\nfull carrying value of these assets; and (xiii) other factors detailed from\ntime to time in the Company's filings with the Securities and Exchange\nCommission. The Company undertakes no obligation to update or revise\nforward-looking statements to reflect subsequent events.\n\nCategory: Corporate News/ Earnings Releases\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION( (1)(2)) \n CONDENSED CONSOLIDATED STATEMENTS OF NET (LOSS) INCOME \n (in USD thousands, except per share information) \n (unaudited) \n   \n Three Months Ended \n July 31, \n   2026     2025   \n Revenue, net  $ 386,361    $ 396,800   \n Costs and expenses: \n Cost of sales   100,871     109,259 \n Operating and administrative expenses   238,534     240,330   \n Acquisition and integration related costs((3))   11,039     -   \n Restructuring and related charges   16,525     3,038   \n Amortization of intangible assets   16,455     13,210   \n Total costs and expenses   383,424     365,837   \n   \n Operating income   2,937     30,963   \n As a % of revenue   0.8 %   7.8 % \n   \n Interest expense   (13,926 )   (11,042 ) \n Net foreign exchange transaction losses   (397 )   (971 ) \n Net gain (loss) on sale of businesses and assets   1,113     (1,116 ) \n Other expense, net   (2,304 )   (127 ) \n   \n (Loss) income before taxes   (12,577 )   17,707   \n   \n (Benefit) provision for income taxes   (850 )   6,007   \n Effective tax rate   6.8 %   33.9 % \n Net (loss) income  $ (11,727 )  $ 11,700   \n As a % of revenue   -3.0 %   2.9 % \n   \n (Loss) earnings per share \n Basic  $ (0.23 )  $ 0.22   \n Diluted((4))  $ (0.23 )  $ 0.22   \n   \n Weighted average number of common shares outstanding \n Basic   50,752     53,377   \n Diluted((4))   50,752     53,966   \n   \n   \n Notes:          \n (1) The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. \n   \n (2) All amounts are approximate due to rounding. \n   \n (3) In connection with the acquisition of Emerald Publishing on June 1, 2026, we incurred acquisition and integration related costs that are expensed when incurred. Acquisition-related costs consist of advisory, legal, consulting, and due diligence fees directly related to evaluating, negotiating, and completing the transaction. Integration-related costs consist of costs incurred to combine, migrate, or consolidate systems, operations, facilities, and processes between Wiley and Emerald Publishing, and \n severance related charges. \n   \n (4) In calculating diluted net loss per common share for the three months ended July 31, 2026, our diluted weighted average number of common shares outstanding excludes the effect of unvested restricted stock units and other stock awards as the effect was antidilutive. This occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive. \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION ((1) (2)) \n RECONCILIATION OF US GAAP MEASURES to NON-GAAP MEASURES \n (in USD thousands, except per share information) \n (unaudited) \n   \n Reconciliation of US GAAP (Loss) Earnings per Share to Non-GAAP Adjusted EPS          \n Three Months Ended \n July 31, \n   2026     2025   \n US GAAP (Loss) Earnings Per Share - Diluted   $ (0.23 )  $ 0.22   \n Adjustments:  \n Acquisition and integration related costs   0.20     -   \n Restructuring and related charges   0.26     0.05   \n Amortization of acquired intangible assets   0.24     0.20   \n Net (gain) loss on sale of businesses and assets   (0.02 )   0.02   \n EPS impact of using weighted-average dilutive shares for adjusted EPS calculation((3))   (0.01 )   -   \n Non-GAAP Adjusted Earnings Per Share - Diluted   $ 0.44    $ 0.49   \n   \n Reconciliation of US GAAP (Loss) Income Before Taxes to Non-GAAP Adjusted Income Before Taxes   \n Three Months Ended \n July 31, \n   2026     2025 \n US GAAP (Loss) Income Before Taxes   $ (12,577 )  $ 17,707 \n Pretax Impact of Adjustments: \n Acquisition and integration related costs   11,039     -   \n Restructuring and related charges   16,525     3,038   \n Foreign exchange losses (gains) on intercompany transactions   16     (440 ) \n Amortization of acquired intangible assets   16,455     13,210   \n Net (gain) loss on sale of businesses and assets   (1,113 )   1,116 \n Non-GAAP Adjusted Income Before Taxes   $ 30,345    $ 34,631   \n   \n Reconciliation of US GAAP Income Tax (Benefit) Provision to Non-GAAP Adjusted Income Tax Provision, including our US GAAP Effective Tax Rate and our Non-GAAP Adjusted Effective Tax Rate  \n   \n US GAAP Income Tax (Benefit) Provision   $ (850 )  $ 6,007   \n Income Tax Impact of Adjustments ((4)) \n Acquisition and integration related costs   936     -   \n Restructuring and related charges   3,313     519   \n Foreign exchange losses (gains) on intercompany transactions   10     (750 ) \n Amortization of acquired intangible assets   4,327     2,068   \n Net (gain) loss on sale of businesses and assets   (259 )   54   \n Income Tax Adjustments \n Impact of valuation allowance on the US GAAP effective tax rate   -     166   \n Non-GAAP Adjusted Income Tax Provision   $ 7,477    $ 8,064   \n   \n US GAAP Effective Tax Rate    6.8 %   33.9 % \n Non-GAAP Adjusted Effective Tax Rate    24.6 %   23.3 % \n   \n Notes:          \n (1) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.  \n   \n (2) All amounts are approximate due to rounding. \n   \n (3) Represents the impact of using diluted weighted-average number of common shares outstanding (51.5 million for the three months ended July 31, 2026) included in the Non-GAAP Adjusted EPS calculation in order to apply the dilutive impact on adjusted net income due to the effect of unvested restricted stock units and other stock awards. This impact occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive. \n   \n (4) For the three months ended July 31, 2026, the tax impact was $4.0 million of current taxes and $4.3 million of deferred taxes. For the three months ended July 31, 2025, substantially all of the tax impact was from deferred taxes. \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION ((1)(2)) \n RECONCILIATION OF US GAAP NET (LOSS) INCOME TO NON-GAAP EBITDA AND ADJUSTED EBITDA \n (in USD thousands) \n (unaudited) \n   \n Three Months Ended \n July 31, \n   2026     2025   \n Net (Loss) Income   $ (11,727 )  $ 11,700   \n Interest expense   13,926     11,042   \n (Benefit) provision for income taxes   (850 )   6,007   \n Depreciation and amortization   37,321     36,446   \n Non-GAAP EBITDA    38,670     65,195   \n Acquisition and integration related costs   11,039     -   \n Restructuring and related charges   16,525     3,038   \n Net foreign exchange transaction losses   397     971   \n Net (gain) loss on sale of businesses and assets   (1,113 )   1,116   \n Other expense, net   2,304     127   \n Non-GAAP Adjusted EBITDA   $ 67,822    $ 70,447   \n Adjusted EBITDA Margin    17.6 %   17.8 % \n   \n Notes:          \n (1) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.  \n   \n (2) All amounts are approximate due to rounding. \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION( (1) (2)) ((3)) \n SEGMENT RESULTS \n (in USD thousands) \n (unaudited) \n   \n % Change \n Three Months Ended July 31, Favorable (Unfavorable) \n   2026     2025   Reported Constant Currency \n Research: \n Revenue, net \n Research Publishing  $ 258,886    $ 231,827   12 % 12 % \n Research Solutions   34,604     49,865   -31 % -30 % \n Total Revenue, net  $ 293,490    $ 281,692   4 % 4 % \n   \n Non-GAAP Adjusted Operating Income   $ 60,977    $ 56,248   8 % 8 % \n Depreciation and amortization   25,919     23,385   -11 % -11 % \n Non-GAAP Adjusted EBITDA  $ 86,896    $ 79,633   9 % 9 % \n Adjusted EBITDA margin   29.6 %   28.3 % \n   \n Learning: \n Revenue, net \n Academic  $ 44,741    $ 55,472   -19 % -20 % \n Professional   48,130     59,636   -19 % -20 % \n Total Revenue, net  $ 92,871    $ 115,108   -19 % -20 % \n   \n Non-GAAP Adjusted Operating Income  $ 4,894    $ 21,655   -77 % -78 % \n Depreciation and amortization   9,136     9,844   7 % 8 % \n Non-GAAP Adjusted EBITDA  $ 14,030    $ 31,499   -55 % -56 % \n Adjusted EBITDA margin   15.1 %   27.4 % \n   \n Corporate Expenses: \n Non-GAAP Adjusted Corporate Expenses  $ (34,966 )  $ (43,902 ) 20 % 20 % \n Depreciation and amortization   1,862     3,217   42 % 42 % \n Non-GAAP Adjusted EBITDA  $ (33,104 )  $ (40,685 ) 19 % 19 % \n                 \n Consolidated Results: \n Revenue, net  $ 386,361    $ 396,800   -3 % -3 % \n   \n Operating Income   $ 2,937    $ 30,963   -91 % -91 % \n Adjustments: \n Acquisition and integration related costs   11,039     -   # # \n Accelerated amortization of an intangible asset   404     -   # # \n Restructuring and related charges   16,525     3,038   # # \n Non-GAAP Adjusted Operating Income  $ 30,905    $ 34,001   -9 % -9 % \n Adjusted Operating Income margin   8.0 %   8.6 % \n Depreciation and amortization   36,917     36,446   -1 % -1 % \n Non-GAAP Adjusted EBITDA  $ 67,822    $ 70,447   -4 % -4 % \n Adjusted EBITDA margin   17.6 %   17.8 % \n   \n Notes:                \n (1) The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. \n   \n (2) All amounts are approximate due to rounding. \n   \n (3) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. \n   \n #   Variance greater than 100% \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION ((1)) ((2)) \n CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION \n (in USD thousands) \n (unaudited) \n   \n July 31, April 30, \n 2026 2026 \n Assets: \n Current assets \n Cash and cash equivalents  $ 106,426  $ 75,622 \n Accounts receivable, net( )   210,729   244,164 \n Inventories, net   18,472   19,265 \n Prepaid expenses and other current assets   102,595   80,614 \n Total current assets   438,222   419,665 \n   \n Technology, property and equipment, net   131,564   136,260 \n Intangible assets, net   853,303   578,959 \n Goodwill   1,390,757   1,132,392 \n Operating lease right-of-use assets   56,478   57,128 \n Other non-current assets   262,075   267,414 \n Total assets  $ 3,132,399  $ 2,591,818 \n   \n Liabilities and shareholders' equity: \n Current liabilities \n Accounts payable  $ 44,935  $ 67,199 \n Accrued royalties   101,948   97,791 \n Short-term portion of long-term debt   13,750   12,500 \n Contract liabilities   384,278   451,423 \n Accrued employment costs   56,129   71,068 \n Short-term portion of operating lease liabilities   16,111   15,954 \n Other accrued liabilities   71,671   63,012 \n Total current liabilities   688,822   778,947 \n Long-term debt   1,277,516   670,897 \n Accrued pension liability   58,740   59,527 \n Deferred income tax liabilities   165,492   98,972 \n Operating lease liabilities   67,493   69,544 \n Other long-term liabilities   77,297   65,689 \n Total liabilities   2,335,360   1,743,576 \n Shareholders' equity   797,039   848,242 \n Total liabilities and shareholders' equity  $ 3,132,399  $ 2,591,818 \n     \n Notes:          \n (1) The supplementary information included in this press release for July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. \n   \n (2) All amounts are approximate due to rounding. \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION ((1) (2)) \n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS \n (in USD thousands) \n (unaudited) \n   \n Three Months Ended \n July 31, \n   2026     2025   \n Operating activities: \n Net (loss) income  $ (11,727 )  $ 11,700   \n Net (gain) loss on sale of businesses and assets   (1,113 )   1,116   \n Amortization of intangible assets   16,455     13,210   \n Amortization of product development assets   3,652     3,792   \n Depreciation and amortization of technology, property, and equipment   17,214     19,444   \n Other noncash charges   49,089     19,274   \n Net change in operating assets and liabilities   (128,842 )   (153,541 ) \n Net cash used in operating activities   (55,272 )   (85,005 ) \n   \n Investing activities: \n Additions to technology, property, and equipment   (11,197 )   (12,005 ) \n Product development spending   (3,180 )   (2,890 ) \n Businesses acquired in purchase transactions, net of cash acquired   (450,351 )   -   \n Net cash (transferred) proceeds related to the sale of businesses and assets   (27 )   115,168   \n Acquisitions of publication rights and other   (625 )   (1,417 ) \n Net cash (used in) provided by investing activities   (465,380 )   98,856   \n   \n Financing activities: \n Net debt borrowings   609,066     30,591   \n Cash dividends   (18,167 )   (18,985 ) \n Purchases of treasury shares   (15,229 )   (13,500 ) \n Other   (22,792 )   (15,030 ) \n Net cash provided by (used in) financing activities   552,878     (16,924 ) \n   \n Effects of exchange rate changes on cash, cash equivalents and restricted cash   (1,422 )     (959 ) \n   \n Change in cash, cash equivalents and restricted cash for period   30,804     (4,032 ) \n   \n Cash, cash equivalents and restricted cash - beginning   75,672     85,932   \n Cash, cash equivalents and restricted cash - ending  $ 106,476    $ 81,900   \n   \n CALCULATION OF NON-GAAP FREE CASH FLOW LESS PRODUCT DEVELOPMENT SPENDING ((3)) \n   \n  Three Months Ended  \n  July 31,  \n   2026     2025   \n Net cash used in operating activities  $ (55,272 )  $ (85,005 ) \n Less: Additions to technology, property, and equipment   (11,197 )   (12,005 ) \n Less: Product development spending   (3,180 )   (2,890 ) \n Free cash flow less product development spending  $ (69,649 )  $ (99,900 ) \n   \n Notes:          \n (1) The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. \n   \n (2)  All amounts are approximate due to rounding. \n   \n (3) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. \n\n JOHN WILEY & SONS, INC. \n EXPLANATION OF USAGE OF NON-GAAP PERFORMANCE MEASURES \n   \n In this earnings release and supplemental information, management may present the following non-GAAP performance measures: \n · Adjusted Earnings Per Share (Adjusted EPS); \n · Free Cash Flow less Product Development Spending; \n · Adjusted Operating Income and margin; \n · Adjusted Income Before Taxes; \n · Adjusted Income Tax Provision; \n · Adjusted Effective Tax Rate; \n · EBITDA, Adjusted EBITDA and margin; \n · Organic revenue and growth; and \n · Results on a constant currency basis. \n   \n Management uses these non-GAAP performance measures as supplemental indicators of our operating performance and financial position as well as for internal reporting and forecasting purposes, when publicly providing our outlook, to evaluate our performance and calculate incentive compensation.  \n   \n We present these non-GAAP performance measures in addition to US GAAP financial results because we believe that these non-GAAP performance measures provide useful information to certain investors and financial analysts for operational trends and comparisons over time. The use of these non-GAAP performance measures may also provide a consistent basis to evaluate operating profitability and performance trends by excluding items that we do not consider to be controllable activities for this purpose.  \n   \n The performance metric used by our chief operating decision maker to evaluate performance of our reportable segments is Adjusted Operating Income. We present both Adjusted Operating Income and Adjusted EBITDA for each of our reportable segments as we believe Adjusted EBITDA provides additional useful information to certain investors and financial analysts for operational trends and comparisons over time. It removes the impact of depreciation and amortization expense, as well as presents a consistent basis \n to evaluate operating profitability and compare our financial performance to that of our peer companies and competitors.  \n   \n For example: \n   \n · Adjusted EPS, Adjusted Operating Income and margin, Adjusted Income Before Taxes, Adjusted Income Tax Provision, Adjusted Effective Tax Rate, EBITDA, Adjusted EBITDA and margin, and Organic revenue (excluding acquisitions) and growth provide a more comparable basis to analyze operating results and earnings and are measures commonly used by shareholders to measure our performance. \n   \n · Free Cash Flow less Product Development Spending helps assess our ability, over the long term, to create value for our shareholders as it represents cash available to repay debt, pay common stock dividends, and fund share repurchases and acquisitions. \n   \n · Results on a constant currency basis remove distortion from the effects of foreign currency movements to provide better comparability of our business trends from period to period. We measure our performance excluding the impact of foreign currency (or at constant currency), which means that we apply the same foreign currency exchange rates for the current and equivalent prior period. \n   \n In addition, we have historically provided these or similar non-GAAP performance measures and understand that some investors and financial analysts find this information helpful in analyzing our operating margins and net income, and in comparing our financial performance to that of our peer companies and competitors. Based on interactions with investors, we also believe that our non-GAAP performance measures are regarded as useful to our investors as supplemental to our US GAAP financial results, and that \n there is no confusion regarding the adjustments or our operating performance to our investors due to the comprehensive nature of our disclosures. \n   \n We have not provided our 2027 outlook for the most directly comparable US GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity, and low visibility with respect to certain items, including restructuring charges and credits, gains and losses on foreign currency, and other gains and losses. These items are uncertain, depend on various factors, and could be material to our consolidated results computed in accordance with US GAAP. \n   \n Non-GAAP performance measures do not have standardized meanings prescribed by US GAAP and therefore may not be comparable to the calculation of similar measures used by other companies and should not be viewed as alternatives to measures of financial results under US GAAP. The adjusted metrics have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, US GAAP information. It does not purport to represent any similarly titled US GAAP information and is not \n an indicator of our performance under US GAAP. Non-GAAP financial metrics that we present may not be comparable with similarly titled measures used by others. Investors are cautioned against placing undue reliance on these non-GAAP measures. \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260903256667/en/\n(https://www.businesswire.com/news/home/20260903256667/en/)\n\nBrian Campbell\n\nInvestor Relations\n\nbrian.campbell@wiley.com \n(mailto:brian.campbell@wiley.com) \n+201 748 6874\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw8v33CNa","title":"Wiley Reports First Quarter 2027 Results; Q1 in Line With Expectations and Full Year Outlook Reaffirmed","author":"Business Wire","ticker":"WLY","created":"2026-09-03T11:30:00.402Z","tickers":["WLY"],"exchange":"NYSE","article_body":"Wiley Reports First Quarter 2027 Results; Q1 in Line With Expectations and\nFull Year Outlook Reaffirmed\n\nStrength in Research and AI offset by prior year comparison and softness in\nLearning – Emerald integration ahead of schedule\n\nWiley (NYSE: WLY), a global leader in authoritative content and research\nintelligence for the advancement of scientific discovery, innovation, and\nlearning, today reported results for the first quarter ended July 31, 2026.\n\nFirst Quarter Summary\n\n\n * GAAP performance vs. prior year: Revenue of $386 million vs. $397 million\n(-3%); Operating Income of $3 million vs. $31 million and Diluted Earnings Per\nShare (EPS) of $(0.23) vs. $0.22 largely due to restructuring charges and\nacquisition and integration related costs.\n\n * Adjusted Results at constant currency: Revenue of $386 million vs. $397\nmillion (-3%), with growth in Research and contributions from the Emerald\nacquisition offset by prior year AI licensing revenue of $29 million and\nmarket-related softness in Learning. Adjusted Operating Income of $31 million\n(-9%), Adjusted EBITDA of $68 million (-4%), and Adjusted EPS of $0.44 (-10%)\nprimarily due to revenue performance, with Adjusted EPS further impacted by\nhigher net interest expense related to the acquisition.\n\n * Research growth: Strong demand to publish and output trends continue. Revenue\ngrew 4%, with Research Publishing up 12% (including two months from Emerald)\noffsetting a prior-year AI licensing comparison in Research Solutions.\nAdjusted EBITDA margin rose 130 basis points.\n\n * AI and data analytics momentum: AI licensing revenue totaled $14 million for\nthe quarter. The pipeline continues to expand across model training,\ncommercial licensing, and subscription knowledge feeds. Wiley became the only\nscientific publisher in the U.S. Department of Energy’s Genesis Mission and\na founding data partner in CuspAI’s materials foundry. Wiley also launched\nits breakthrough Spectral Analysis API portfolio in the quarter, delivering\n\"gold standard\" chemical reference data directly into automated laboratory\nsoftware pipelines.\n\n * Cost savings: Wiley’s continued focus on efficiency drove a 19% improvement\n($8 million) in corporate expenses on an Adjusted EBITDA basis through\ntechnology transformation and restructuring.\n\n * Returns to shareholders: The Company increased its dividend for the 33rd\nconsecutive year and allocated $33 million to dividends and share repurchases\nthis quarter.\n\nManagement Commentary\n\n“We delivered the quarter we planned for, and the momentum between Research\nand AI keeps building: Research is fueling the trusted content that\naccelerates AI, and AI is driving the productivity that accelerates\nResearch,” said Matthew Kissner, President and CEO. “You can see it in our\nResearch and AI pipelines, and in our selection as the only scientific\npublisher in the U.S. Department of Energy’s Genesis Mission and as founding\ndata partner in CuspAI’s global materials foundry—choices that reflect not\njust our scale, but the quality and trust we’ve built over two centuries.\nPrior year AI licensing comparisons affected both segments this quarter,\nparticularly Learning, and we expect improvement over the balance of the year\nas comparisons normalize and demand in that segment stabilizes.”\n\nFinancial Summary\n\nPlease see accompanying financial tables for more detail.\n\nResearch Segment\n\n\n * Research revenue of $293 million was up 4% as reported and at constant\ncurrency, with Research Publishing up 12% (CC) largely driven by the addition\nof Emerald ($13 million in two months) and strong growth in gold open access\nand AI licensing. This was partially offset by a 30% decline (CC) in Research\nSolutions largely due to prior year AI licensing comparison ($16 million vs.\n$4 million this quarter).\n\n * Research Adjusted EBITDA of $87 million was up 9% (CC) including a $5 million\ncontribution from Emerald. Adjusted EBITDA margin for the quarter rose 130\nbasis points to 29.6%.\n\n * During the quarter, Wiley acquired Emerald Publishing for approximately $450\nmillion in cash, net of cash acquired, or roughly 7 times Adjusted EBITDA on a\nsynergized basis including $30 million of targeted cost synergies. Emerald\nbrings nearly 500 journals, thousands of book titles and case studies, and\n500,000 backfile assets. The acquisition expands Wiley's portfolio to roughly\n2,500 journals and establishes a top-one-or-two position across key areas of\neconomics, business, and finance.\n\nLearning Segment\n\n\n * Learning revenue of $93 million was down 19% as reported and 20% (CC)\nreflecting prior year AI licensing comparison in Academic and Professional ($8\nmillion and $5 million, respectively) and softness in consumer and corporate\nspending. Q1 is Wiley’s seasonally lightest quarter in Academic.\n\n * Learning Adjusted EBITDA of $14 million was down 56% (CC) primarily reflecting\nrevenue performance and mix.\n\nCorporate Expenses\n\n“Corporate Expenses” are the portion of shared services costs not\nallocated to segments.\n\n\n * Corporate Expenses on an Adjusted EBITDA basis improved 19% ($8 million) as\nreported and at constant currency driven by technology transformation and\ncontinued restructuring savings.\n\nBalance Sheet, Cash Flow, and Capital Allocation\n\n\n * Net Debt-to-EBITDA ratio (TTM) at quarter end was 2.7x compared to 1.9x in the\nyear-ago period, reflecting higher net debt of $1,185 million vs. $746 million\ndue to the June 1 acquisition of Emerald. Wiley’s proforma leverage is 2.1x\nincluding Emerald synergies.\n\n * Net Cash Used in Operating Activities was $55 million compared to $85 million\nin the prior year, reflecting the anticipated recovery in cash collection\nrelated to late Q4 renewal signings. Note, Wiley’s regular use of cash in\nthe first half of the fiscal year is driven by the timing of cash collections\nfor annual journal renewals, which are concentrated in Q3 and Q4.\n\n * Free Cash Flow was a use of $70 million compared to a use of $100 million in\nthe prior year. Capex was $14 million, down $1 million.\n\n * Returns to Shareholders: Wiley allocated $33 million toward dividends and\nshare repurchases. $15 million was allocated to share repurchases, up from $14\nmillion in the prior-year period, and the dividend was raised for the 33rd\nconsecutive year.\n\nFiscal 2027 Outlook\n\nWiley is reaffirming its full year outlook based on key leading indicators,\nincluding strong pipelines in publishing and AI licensing, and anticipated\ncost savings.\n Metric Fiscal 2025 Fiscal 2026 Fiscal 2027 Outlook \n Organic Revenue Growth*     Low-to-mid single digit growth \n \n \n \n(Research: mid-single digit growth) \n Adjusted EBITDA Margin 24.0% 26.2% 26.5% to 27.5% \n Adjusted EPS $3.64 $4.19 $4.60 to $5.05 \n Free Cash Flow $126M $195M $205M \n   \n *Organic Revenue Growth” excludes the effects of the Emerald acquisition and \n currency movements. All other metrics include the addition of Emerald. Emerald \n is projected to add $78 million to Revenue (11 months of Fiscal Year) and be \n accretive to Adjusted EPS by approximately $0.10 and dilutive to Free Cash \n Flow by $15 million (the Emerald acquisition is expected to turn Free Cash \n Flow accretive in Fiscal 2028) \n\n\n\n * Organic Revenue Growth - driven by expected core growth in Research and\nanother strong year for AI and data analytics growth initiatives.\n\n * Adjusted EBITDA Margin – reflecting anticipated cost savings and ongoing\nefficiency gains balanced with high-return, sustainable growth investment.\n\n * Adjusted EPS – growth expectation driven by higher expected Adjusted\nOperating Income\n\n * Free Cash Flow – driven by expected cash earnings growth partially offset by\nyear 1 dilution from Emerald ($15M), higher capex ($80M vs. $65M in FY26),\nexpected restructuring costs, and higher cash taxes.\n\nEarnings Conference Call\n\nScheduled for today, September 3 at 10:00 am (ET). Access webcast at Investor\nRelations at investors.wiley.com, or directly at\nhttp://events.q4inc.com/attendee/638218988\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fevents.q4inc.com%2Fattendee%2F638218988&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=http%3A%2F%2Fevents.q4inc.com%2Fattendee%2F638218988&index=1&md5=2da504637aff72c6e43522614d225b73)\n. North American callers, please dial (833) 461-5787 and enter the meeting ID:\n638 218 988. International callers, please dial (585) 542-9983 and enter the\nmeeting ID: 638 218 988.\n\nAbout Wiley\n\nWiley (NYSE: WLY) is a global leader in authoritative content and research\nintelligence for the advancement of scientific discovery, innovation, and\nlearning. With more than 200 years at the center of the scholarly ecosystem,\nWiley combines trusted publishing heritage with AI-powered platforms to\ntransform how knowledge is discovered, accessed, and applied. From individual\nresearchers and students to Fortune 500 R&D teams, Wiley enables the\ntransformation of scientific breakthroughs into real-world impact. From\nknowledge to impact—Wiley is redefining what's possible in science and\nlearning. Visit us at Wiley.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.wiley.com%2Fen-us&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=Wiley.com&index=2&md5=45bff053ca5e78ce4cd51dcf35ea3ac7)\nand Investors.Wiley.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Finvestors.wiley.com%2Foverview%2Fdefault.aspx&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=Investors.Wiley.com&index=3&md5=10997a9da6294af965515327053d59ac)\n. Follow us on Facebook\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FJohnWileySons%2F&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=Facebook&index=4&md5=04ca533f3152f2fc8787a690320adda2)\n, X\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fx.com%2FWileyGlobal&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=X&index=5&md5=7dcfb2b291483de1604ca722e949df2f)\n, LinkedIn\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fjohn-wiley-and-sons%2F&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=LinkedIn&index=6&md5=0ea90d038e51971dfd8553dbc312e1d4)\nand Instagram\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Fwiley_global%2F&esheet=54598306&newsitemid=20260903256667&lan=en-US&anchor=Instagram&index=7&md5=93db14c9d1cacfb375c648b82d40eb18)\n\nNon-GAAP Financial Measures\n\nWiley provides non-GAAP financial measures and performance results such as\n“Adjusted EPS,” “Adjusted Operating Income,” “Adjusted EBITDA,”\n“Adjusted Income before Taxes,” “Adjusted Income Tax Provision,”\n“Adjusted Effective Income Tax Rate,” “Free Cash Flow less Product\nDevelopment Spending,” “organic revenue,” and results on a Constant\nCurrency basis to assess underlying business performance and trends.\nManagement believes non-GAAP financial measures, which exclude the impact of\nrestructuring charges and credits and certain other items, and the impact of\ndivestitures and acquisitions provide a useful comparable basis to analyze\noperating results and earnings. See the reconciliations of non-GAAP financial\nmeasures and explanations of the uses of non-GAAP measures in the\nsupplementary information. We have not provided our 2027 outlook for the most\ndirectly comparable U.S. GAAP financial measures, as they are not available\nwithout unreasonable effort due to the high variability, complexity, and low\nvisibility with respect to certain items, including restructuring charges and\ncredits, acquisition and integration related costs, gains and losses on\nforeign currency, and other gains and losses. These items are uncertain,\ndepend on various factors, and could be material to our consolidated results\ncomputed in accordance with U.S. GAAP.\n\nForward-Looking Statements\n\nThis release contains certain forward-looking statements concerning the\nCompany's operations, performance, and financial condition. Reliance should\nnot be placed on forward-looking statements, as actual results may differ\nmaterially from those in any forward-looking statements. Any such\nforward-looking statements are based upon a number of assumptions and\nestimates that are inherently subject to uncertainties and contingencies, many\nof which are beyond the control of the Company and are subject to change based\non many important factors. Such factors include, but are not limited to: (i)\nthe level of investment in new technologies and products; (ii) subscriber\nrenewal rates for the Company's journals; (iii) the financial stability and\nliquidity of journal subscription agents; (iv) the consolidation of book\nwholesalers and retail accounts; (v) the market position and financial\nstability of key online retailers; (vi) the seasonal nature of the Company's\neducational business and the impact of the used book market; (vii) worldwide\neconomic and political conditions; (viii) the Company's ability to protect its\ncopyrights and other intellectual property worldwide (ix) the ability of the\nCompany to successfully integrate acquired operations and realize expected\nsynergies and opportunities; (x) the ability to realize operating savings over\ntime and in fiscal year 2027 in connection with our multiyear Global\nRestructuring Program and completed dispositions; (xi) cyber risk and the\nfailure to maintain the integrity of our operational or security systems or\ninfrastructure, or those of third parties with which we do business; (xii) as\na result of acquisitions, we have and may record a significant amount of\ngoodwill and other identifiable intangible assets and we may never realize the\nfull carrying value of these assets; and (xiii) other factors detailed from\ntime to time in the Company's filings with the Securities and Exchange\nCommission. The Company undertakes no obligation to update or revise\nforward-looking statements to reflect subsequent events.\n\nCategory: Corporate News/ Earnings Releases\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION( (1)(2)) \n CONDENSED CONSOLIDATED STATEMENTS OF NET (LOSS) INCOME \n (in USD thousands, except per share information) \n (unaudited) \n   \n Three Months Ended \n July 31, \n   2026     2025   \n Revenue, net  $ 386,361    $ 396,800   \n Costs and expenses: \n Cost of sales   100,871     109,259 \n Operating and administrative expenses   238,534     240,330   \n Acquisition and integration related costs((3))   11,039     -   \n Restructuring and related charges   16,525     3,038   \n Amortization of intangible assets   16,455     13,210   \n Total costs and expenses   383,424     365,837   \n   \n Operating income   2,937     30,963   \n As a % of revenue   0.8 %   7.8 % \n   \n Interest expense   (13,926 )   (11,042 ) \n Net foreign exchange transaction losses   (397 )   (971 ) \n Net gain (loss) on sale of businesses and assets   1,113     (1,116 ) \n Other expense, net   (2,304 )   (127 ) \n   \n (Loss) income before taxes   (12,577 )   17,707   \n   \n (Benefit) provision for income taxes   (850 )   6,007   \n Effective tax rate   6.8 %   33.9 % \n Net (loss) income  $ (11,727 )  $ 11,700   \n As a % of revenue   -3.0 %   2.9 % \n   \n (Loss) earnings per share \n Basic  $ (0.23 )  $ 0.22   \n Diluted((4))  $ (0.23 )  $ 0.22   \n   \n Weighted average number of common shares outstanding \n Basic   50,752     53,377   \n Diluted((4))   50,752     53,966   \n   \n   \n Notes:          \n (1) The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. \n   \n (2) All amounts are approximate due to rounding. \n   \n (3) In connection with the acquisition of Emerald Publishing on June 1, 2026, we incurred acquisition and integration related costs that are expensed when incurred. Acquisition-related costs consist of advisory, legal, consulting, and due diligence fees directly related to evaluating, negotiating, and completing the transaction. Integration-related costs consist of costs incurred to combine, migrate, or consolidate systems, operations, facilities, and processes between Wiley and Emerald Publishing, and \n severance related charges. \n   \n (4) In calculating diluted net loss per common share for the three months ended July 31, 2026, our diluted weighted average number of common shares outstanding excludes the effect of unvested restricted stock units and other stock awards as the effect was antidilutive. This occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive. \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION ((1) (2)) \n RECONCILIATION OF US GAAP MEASURES to NON-GAAP MEASURES \n (in USD thousands, except per share information) \n (unaudited) \n   \n Reconciliation of US GAAP (Loss) Earnings per Share to Non-GAAP Adjusted EPS          \n Three Months Ended \n July 31, \n   2026     2025   \n US GAAP (Loss) Earnings Per Share - Diluted   $ (0.23 )  $ 0.22   \n Adjustments:  \n Acquisition and integration related costs   0.20     -   \n Restructuring and related charges   0.26     0.05   \n Amortization of acquired intangible assets   0.24     0.20   \n Net (gain) loss on sale of businesses and assets   (0.02 )   0.02   \n EPS impact of using weighted-average dilutive shares for adjusted EPS calculation((3))   (0.01 )   -   \n Non-GAAP Adjusted Earnings Per Share - Diluted   $ 0.44    $ 0.49   \n   \n Reconciliation of US GAAP (Loss) Income Before Taxes to Non-GAAP Adjusted Income Before Taxes   \n Three Months Ended \n July 31, \n   2026     2025 \n US GAAP (Loss) Income Before Taxes   $ (12,577 )  $ 17,707 \n Pretax Impact of Adjustments: \n Acquisition and integration related costs   11,039     -   \n Restructuring and related charges   16,525     3,038   \n Foreign exchange losses (gains) on intercompany transactions   16     (440 ) \n Amortization of acquired intangible assets   16,455     13,210   \n Net (gain) loss on sale of businesses and assets   (1,113 )   1,116 \n Non-GAAP Adjusted Income Before Taxes   $ 30,345    $ 34,631   \n   \n Reconciliation of US GAAP Income Tax (Benefit) Provision to Non-GAAP Adjusted Income Tax Provision, including our US GAAP Effective Tax Rate and our Non-GAAP Adjusted Effective Tax Rate  \n   \n US GAAP Income Tax (Benefit) Provision   $ (850 )  $ 6,007   \n Income Tax Impact of Adjustments ((4)) \n Acquisition and integration related costs   936     -   \n Restructuring and related charges   3,313     519   \n Foreign exchange losses (gains) on intercompany transactions   10     (750 ) \n Amortization of acquired intangible assets   4,327     2,068   \n Net (gain) loss on sale of businesses and assets   (259 )   54   \n Income Tax Adjustments \n Impact of valuation allowance on the US GAAP effective tax rate   -     166   \n Non-GAAP Adjusted Income Tax Provision   $ 7,477    $ 8,064   \n   \n US GAAP Effective Tax Rate    6.8 %   33.9 % \n Non-GAAP Adjusted Effective Tax Rate    24.6 %   23.3 % \n   \n Notes:          \n (1) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.  \n   \n (2) All amounts are approximate due to rounding. \n   \n (3) Represents the impact of using diluted weighted-average number of common shares outstanding (51.5 million for the three months ended July 31, 2026) included in the Non-GAAP Adjusted EPS calculation in order to apply the dilutive impact on adjusted net income due to the effect of unvested restricted stock units and other stock awards. This impact occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive. \n   \n (4) For the three months ended July 31, 2026, the tax impact was $4.0 million of current taxes and $4.3 million of deferred taxes. For the three months ended July 31, 2025, substantially all of the tax impact was from deferred taxes. \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION ((1)(2)) \n RECONCILIATION OF US GAAP NET (LOSS) INCOME TO NON-GAAP EBITDA AND ADJUSTED EBITDA \n (in USD thousands) \n (unaudited) \n   \n Three Months Ended \n July 31, \n   2026     2025   \n Net (Loss) Income   $ (11,727 )  $ 11,700   \n Interest expense   13,926     11,042   \n (Benefit) provision for income taxes   (850 )   6,007   \n Depreciation and amortization   37,321     36,446   \n Non-GAAP EBITDA    38,670     65,195   \n Acquisition and integration related costs   11,039     -   \n Restructuring and related charges   16,525     3,038   \n Net foreign exchange transaction losses   397     971   \n Net (gain) loss on sale of businesses and assets   (1,113 )   1,116   \n Other expense, net   2,304     127   \n Non-GAAP Adjusted EBITDA   $ 67,822    $ 70,447   \n Adjusted EBITDA Margin    17.6 %   17.8 % \n   \n Notes:          \n (1) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission.  \n   \n (2) All amounts are approximate due to rounding. \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION( (1) (2)) ((3)) \n SEGMENT RESULTS \n (in USD thousands) \n (unaudited) \n   \n % Change \n Three Months Ended July 31, Favorable (Unfavorable) \n   2026     2025   Reported Constant Currency \n Research: \n Revenue, net \n Research Publishing  $ 258,886    $ 231,827   12 % 12 % \n Research Solutions   34,604     49,865   -31 % -30 % \n Total Revenue, net  $ 293,490    $ 281,692   4 % 4 % \n   \n Non-GAAP Adjusted Operating Income   $ 60,977    $ 56,248   8 % 8 % \n Depreciation and amortization   25,919     23,385   -11 % -11 % \n Non-GAAP Adjusted EBITDA  $ 86,896    $ 79,633   9 % 9 % \n Adjusted EBITDA margin   29.6 %   28.3 % \n   \n Learning: \n Revenue, net \n Academic  $ 44,741    $ 55,472   -19 % -20 % \n Professional   48,130     59,636   -19 % -20 % \n Total Revenue, net  $ 92,871    $ 115,108   -19 % -20 % \n   \n Non-GAAP Adjusted Operating Income  $ 4,894    $ 21,655   -77 % -78 % \n Depreciation and amortization   9,136     9,844   7 % 8 % \n Non-GAAP Adjusted EBITDA  $ 14,030    $ 31,499   -55 % -56 % \n Adjusted EBITDA margin   15.1 %   27.4 % \n   \n Corporate Expenses: \n Non-GAAP Adjusted Corporate Expenses  $ (34,966 )  $ (43,902 ) 20 % 20 % \n Depreciation and amortization   1,862     3,217   42 % 42 % \n Non-GAAP Adjusted EBITDA  $ (33,104 )  $ (40,685 ) 19 % 19 % \n                 \n Consolidated Results: \n Revenue, net  $ 386,361    $ 396,800   -3 % -3 % \n   \n Operating Income   $ 2,937    $ 30,963   -91 % -91 % \n Adjustments: \n Acquisition and integration related costs   11,039     -   # # \n Accelerated amortization of an intangible asset   404     -   # # \n Restructuring and related charges   16,525     3,038   # # \n Non-GAAP Adjusted Operating Income  $ 30,905    $ 34,001   -9 % -9 % \n Adjusted Operating Income margin   8.0 %   8.6 % \n Depreciation and amortization   36,917     36,446   -1 % -1 % \n Non-GAAP Adjusted EBITDA  $ 67,822    $ 70,447   -4 % -4 % \n Adjusted EBITDA margin   17.6 %   17.8 % \n   \n Notes:                \n (1) The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. \n   \n (2) All amounts are approximate due to rounding. \n   \n (3) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. \n   \n #   Variance greater than 100% \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION ((1)) ((2)) \n CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION \n (in USD thousands) \n (unaudited) \n   \n July 31, April 30, \n 2026 2026 \n Assets: \n Current assets \n Cash and cash equivalents  $ 106,426  $ 75,622 \n Accounts receivable, net( )   210,729   244,164 \n Inventories, net   18,472   19,265 \n Prepaid expenses and other current assets   102,595   80,614 \n Total current assets   438,222   419,665 \n   \n Technology, property and equipment, net   131,564   136,260 \n Intangible assets, net   853,303   578,959 \n Goodwill   1,390,757   1,132,392 \n Operating lease right-of-use assets   56,478   57,128 \n Other non-current assets   262,075   267,414 \n Total assets  $ 3,132,399  $ 2,591,818 \n   \n Liabilities and shareholders' equity: \n Current liabilities \n Accounts payable  $ 44,935  $ 67,199 \n Accrued royalties   101,948   97,791 \n Short-term portion of long-term debt   13,750   12,500 \n Contract liabilities   384,278   451,423 \n Accrued employment costs   56,129   71,068 \n Short-term portion of operating lease liabilities   16,111   15,954 \n Other accrued liabilities   71,671   63,012 \n Total current liabilities   688,822   778,947 \n Long-term debt   1,277,516   670,897 \n Accrued pension liability   58,740   59,527 \n Deferred income tax liabilities   165,492   98,972 \n Operating lease liabilities   67,493   69,544 \n Other long-term liabilities   77,297   65,689 \n Total liabilities   2,335,360   1,743,576 \n Shareholders' equity   797,039   848,242 \n Total liabilities and shareholders' equity  $ 3,132,399  $ 2,591,818 \n     \n Notes:          \n (1) The supplementary information included in this press release for July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. \n   \n (2) All amounts are approximate due to rounding. \n\n JOHN WILEY & SONS, INC. \n SUPPLEMENTARY INFORMATION ((1) (2)) \n CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS \n (in USD thousands) \n (unaudited) \n   \n Three Months Ended \n July 31, \n   2026     2025   \n Operating activities: \n Net (loss) income  $ (11,727 )  $ 11,700   \n Net (gain) loss on sale of businesses and assets   (1,113 )   1,116   \n Amortization of intangible assets   16,455     13,210   \n Amortization of product development assets   3,652     3,792   \n Depreciation and amortization of technology, property, and equipment   17,214     19,444   \n Other noncash charges   49,089     19,274   \n Net change in operating assets and liabilities   (128,842 )   (153,541 ) \n Net cash used in operating activities   (55,272 )   (85,005 ) \n   \n Investing activities: \n Additions to technology, property, and equipment   (11,197 )   (12,005 ) \n Product development spending   (3,180 )   (2,890 ) \n Businesses acquired in purchase transactions, net of cash acquired   (450,351 )   -   \n Net cash (transferred) proceeds related to the sale of businesses and assets   (27 )   115,168   \n Acquisitions of publication rights and other   (625 )   (1,417 ) \n Net cash (used in) provided by investing activities   (465,380 )   98,856   \n   \n Financing activities: \n Net debt borrowings   609,066     30,591   \n Cash dividends   (18,167 )   (18,985 ) \n Purchases of treasury shares   (15,229 )   (13,500 ) \n Other   (22,792 )   (15,030 ) \n Net cash provided by (used in) financing activities   552,878     (16,924 ) \n   \n Effects of exchange rate changes on cash, cash equivalents and restricted cash   (1,422 )     (959 ) \n   \n Change in cash, cash equivalents and restricted cash for period   30,804     (4,032 ) \n   \n Cash, cash equivalents and restricted cash - beginning   75,672     85,932   \n Cash, cash equivalents and restricted cash - ending  $ 106,476    $ 81,900   \n   \n CALCULATION OF NON-GAAP FREE CASH FLOW LESS PRODUCT DEVELOPMENT SPENDING ((3)) \n   \n  Three Months Ended  \n  July 31,  \n   2026     2025   \n Net cash used in operating activities  $ (55,272 )  $ (85,005 ) \n Less: Additions to technology, property, and equipment   (11,197 )   (12,005 ) \n Less: Product development spending   (3,180 )   (2,890 ) \n Free cash flow less product development spending  $ (69,649 )  $ (99,900 ) \n   \n Notes:          \n (1) The supplementary information included in this press release for the three months ended July 31, 2026 is preliminary and subject to change prior to the filing of our upcoming Quarterly Report on Form 10-Q with the Securities and Exchange Commission. \n   \n (2)  All amounts are approximate due to rounding. \n   \n (3) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of each non-GAAP performance measure provides useful information to investors. \n\n JOHN WILEY & SONS, INC. \n EXPLANATION OF USAGE OF NON-GAAP PERFORMANCE MEASURES \n   \n In this earnings release and supplemental information, management may present the following non-GAAP performance measures: \n · Adjusted Earnings Per Share (Adjusted EPS); \n · Free Cash Flow less Product Development Spending; \n · Adjusted Operating Income and margin; \n · Adjusted Income Before Taxes; \n · Adjusted Income Tax Provision; \n · Adjusted Effective Tax Rate; \n · EBITDA, Adjusted EBITDA and margin; \n · Organic revenue and growth; and \n · Results on a constant currency basis. \n   \n Management uses these non-GAAP performance measures as supplemental indicators of our operating performance and financial position as well as for internal reporting and forecasting purposes, when publicly providing our outlook, to evaluate our performance and calculate incentive compensation.  \n   \n We present these non-GAAP performance measures in addition to US GAAP financial results because we believe that these non-GAAP performance measures provide useful information to certain investors and financial analysts for operational trends and comparisons over time. The use of these non-GAAP performance measures may also provide a consistent basis to evaluate operating profitability and performance trends by excluding items that we do not consider to be controllable activities for this purpose.  \n   \n The performance metric used by our chief operating decision maker to evaluate performance of our reportable segments is Adjusted Operating Income. We present both Adjusted Operating Income and Adjusted EBITDA for each of our reportable segments as we believe Adjusted EBITDA provides additional useful information to certain investors and financial analysts for operational trends and comparisons over time. It removes the impact of depreciation and amortization expense, as well as presents a consistent basis \n to evaluate operating profitability and compare our financial performance to that of our peer companies and competitors.  \n   \n For example: \n   \n · Adjusted EPS, Adjusted Operating Income and margin, Adjusted Income Before Taxes, Adjusted Income Tax Provision, Adjusted Effective Tax Rate, EBITDA, Adjusted EBITDA and margin, and Organic revenue (excluding acquisitions) and growth provide a more comparable basis to analyze operating results and earnings and are measures commonly used by shareholders to measure our performance. \n   \n · Free Cash Flow less Product Development Spending helps assess our ability, over the long term, to create value for our shareholders as it represents cash available to repay debt, pay common stock dividends, and fund share repurchases and acquisitions. \n   \n · Results on a constant currency basis remove distortion from the effects of foreign currency movements to provide better comparability of our business trends from period to period. We measure our performance excluding the impact of foreign currency (or at constant currency), which means that we apply the same foreign currency exchange rates for the current and equivalent prior period. \n   \n In addition, we have historically provided these or similar non-GAAP performance measures and understand that some investors and financial analysts find this information helpful in analyzing our operating margins and net income, and in comparing our financial performance to that of our peer companies and competitors. Based on interactions with investors, we also believe that our non-GAAP performance measures are regarded as useful to our investors as supplemental to our US GAAP financial results, and that \n there is no confusion regarding the adjustments or our operating performance to our investors due to the comprehensive nature of our disclosures. \n   \n We have not provided our 2027 outlook for the most directly comparable US GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity, and low visibility with respect to certain items, including restructuring charges and credits, gains and losses on foreign currency, and other gains and losses. These items are uncertain, depend on various factors, and could be material to our consolidated results computed in accordance with US GAAP. \n   \n Non-GAAP performance measures do not have standardized meanings prescribed by US GAAP and therefore may not be comparable to the calculation of similar measures used by other companies and should not be viewed as alternatives to measures of financial results under US GAAP. The adjusted metrics have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, US GAAP information. It does not purport to represent any similarly titled US GAAP information and is not \n an indicator of our performance under US GAAP. Non-GAAP financial metrics that we present may not be comparable with similarly titled measures used by others. Investors are cautioned against placing undue reliance on these non-GAAP measures. \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20260903256667/en/\n(https://www.businesswire.com/news/home/20260903256667/en/)\n\nBrian Campbell\n\nInvestor Relations\n\nbrian.campbell@wiley.com \n(mailto:brian.campbell@wiley.com) \n+201 748 6874\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-09-03T11:30:00.481582656Z","server_sent_at_ms":1788435000481},"received_at":"2026-09-03T11:30:00.580Z","source_url":"https://www.businesswire.com/news/home/20260903256667/en/"},"analysis":{"id":"123863","press_release_id":"134969","analysis_json":{"industry":{"label":"Publishing","sector":"Communication Services"},"redFlags":["GAAP net loss of $11.7 million with operating income down 91%, driven by $16.5 million restructuring charges and $11.0 million acquisition/integration costs","Learning segment revenue fell 19% (20% CC) with Adjusted EBITDA down roughly 56%","Research Solutions revenue dropped 30% (CC) against a tough prior-year AI licensing comparison ($16 million vs. $4 million)","Leverage jumped to 2.7x TTM EBITDA from 1.9x a year ago after the $450 million Emerald acquisition","FY27 free cash flow faces $15 million Emerald dilution and capex rising to $80 million from $65 million in FY26"],"eventType":"earnings","narrative":"Wiley's fiscal first quarter ended July 31, 2026 produced revenue of $386 million, down 3% year over year, with a GAAP diluted loss per share of $0.23 versus EPS of $0.22 a year ago; management characterized the quarter as in line with expectations.\n\nOn an adjusted basis, EPS of $0.44 fell 10% and Adjusted EBITDA of $68 million slipped 4%, as Research grew 4% (Research Publishing up 12% with help from Emerald) against a 19% Learning decline tied to prior-year AI licensing comparisons; AI licensing revenue totaled $14 million for the quarter.\n\nWiley closed its approximately $450 million all-cash acquisition of Emerald Publishing on June 1 and says integration is ahead of schedule, though net debt rose to $1,185 million, lifting TTM leverage to 2.7x from 1.9x a year ago.\n\nFull-year fiscal 2027 guidance was reaffirmed: Adjusted EPS of $4.60 to $5.05 and free cash flow of roughly $205 million, with the dividend raised for the 33rd consecutive year and $33 million returned to shareholders in the quarter.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"In-line Q1 with reaffirmed FY27 outlook — Research/AI momentum is masking a steep Learning decline, and post-Emerald leverage at 2.7x is the number to watch."},"keyFigures":{"revenue":386361000,"guidance":"FY27 reaffirmed: organic revenue low-to-mid single digit growth (Research mid-single digit); Adjusted EBITDA margin 26.5%-27.5%; Adjusted EPS $4.60-$5.05; Free Cash Flow ~$205M","revenueYoy":"-3%","customDimensions":{"capex":14000000,"net_debt":1185000000,"adjusted_eps":0.44,"adjusted_ebitda":67822000,"adjusted_eps_yoy":"-10%","learning_revenue":92871000,"research_revenue":293490000,"proforma_leverage":"2.1x","share_repurchases":15000000,"ai_licensing_revenue":14000000,"learning_revenue_yoy":"-19%","gaap_operating_income":2937000,"restructuring_charges":16525000,"adjusted_ebitda_margin":"17.6%","dividends_and_buybacks":33000000,"emerald_purchase_price":"approximately $450 million in cash","net_debt_to_ebitda_ttm":"2.7x","research_revenue_growth":"+4%","learning_adjusted_ebitda":14030000,"research_adjusted_ebitda":86896000,"adjusted_operating_income":30905000,"emerald_fy27_fcf_dilution":"$15 million","emerald_fy27_eps_accretion":"$0.10","research_publishing_growth":"+12%","acquisition_integration_costs":11039000,"emerald_fy27_revenue_contribution":"$78 million","research_solutions_revenue_change_cc":"-30%"}},"quotedText":"We delivered the quarter we planned for, and the momentum between Research\nand AI keeps building: Research is fueling the trusted content that\naccelerates AI, and AI is driving the productivity that accelerates\nResearch","namedEntities":{"people":[{"name":"Matthew Kissner","role":"President and CEO"}],"products":["Spectral Analysis API portfolio"],"companies":[{"name":"Wiley (John Wiley & Sons, Inc.)","ticker":"WLY","relationship":"filer"},{"name":"Emerald Publishing","relationship":"acquired company (closed June 1, 2026)"},{"name":"CuspAI","relationship":"partner (founding data partner in materials foundry)"},{"name":"U.S. Department of Energy","relationship":"government partner (Genesis Mission)"}],"dollarAmounts":[{"amount":"$386 million","context":"Q1 FY27 revenue (vs. $397 million prior year, -3%)"},{"amount":"$0.44","context":"Q1 Adjusted EPS (down 10% YoY)"},{"amount":"$68 million","context":"Q1 Adjusted EBITDA (-4%)"},{"amount":"$31 million","context":"Q1 Adjusted Operating Income (-9%)"},{"amount":"$14 million","context":"Q1 AI licensing revenue"},{"amount":"$29 million","context":"prior-year Q1 AI licensing revenue creating tough comparison"},{"amount":"$293 million","context":"Research segment revenue (+4%)"},{"amount":"$93 million","context":"Learning segment revenue (-19%)"},{"amount":"$450 million","context":"Emerald Publishing acquisition, cash net of cash acquired"},{"amount":"$30 million","context":"targeted Emerald cost synergies"},{"amount":"$13 million","context":"Emerald revenue contribution in two months"},{"amount":"$1,185 million","context":"net debt at quarter end (vs. $746 million prior year)"},{"amount":"$70 million","context":"free cash flow use in the quarter"},{"amount":"$33 million","context":"allocated to dividends and share repurchases"},{"amount":"$4.60 to $5.05","context":"FY27 Adjusted EPS outlook (reaffirmed)"},{"amount":"$205M","context":"FY27 Free Cash Flow outlook (reaffirmed)"},{"amount":"$78 million","context":"projected Emerald revenue contribution to FY27 (11 months)"}]},"materialImpact":{"score":3,"reasoning":"Full quarterly earnings report that landed in line with expectations and a reaffirmed FY27 outlook, so no surprise in either direction. GAAP results swung to a loss on restructuring/Emerald deal costs and Learning fell sharply, but these declines were flagged as anticipated, keeping this at moderate materiality rather than a 4-5."},"tickerRelevance":{"others":[],"primary":"WLY"},"globalImportance":32,"audienceRelevance":28,"eventTypeSecondary":["guidance_update","dividend"],"importanceComponents":{"maContext":"Emerald integration update; deal closed June 1, 2026 (not a new M&A event)","tickerTier":"mid-cap, S&P MidCap 400-class","eventGravity":"in-line quarterly earnings with reaffirmed guidance","sectorWeight":"publishing/media — steady, low-beta sector","householdBrandBoost":"200-year-old academic brand, limited retail following","resultVsExpectations":"in line, no beat/miss surprise"}},"event_type":"earnings","event_type_secondary":["guidance_update","dividend"],"sentiment":"mixed","material_impact_score":3,"narrative":"Wiley's fiscal first quarter ended July 31, 2026 produced revenue of $386 million, down 3% year over year, with a GAAP diluted loss per share of $0.23 versus EPS of $0.22 a year ago; management characterized the quarter as in line with expectations.\n\nOn an adjusted basis, EPS of $0.44 fell 10% and Adjusted EBITDA of $68 million slipped 4%, as Research grew 4% (Research Publishing up 12% with help from Emerald) against a 19% Learning decline tied to prior-year AI licensing comparisons; AI licensing revenue totaled $14 million for the quarter.\n\nWiley closed its approximately $450 million all-cash acquisition of Emerald Publishing on June 1 and says integration is ahead of schedule, though net debt rose to $1,185 million, lifting TTM leverage to 2.7x from 1.9x a year ago.\n\nFull-year fiscal 2027 guidance was reaffirmed: Adjusted EPS of $4.60 to $5.05 and free cash flow of roughly $205 million, with the dividend raised for the 33rd consecutive year and $33 million returned to shareholders in the quarter.","key_figures":{"revenue":386361000,"guidance":"FY27 reaffirmed: organic revenue low-to-mid single digit growth (Research mid-single digit); Adjusted EBITDA margin 26.5%-27.5%; 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deal closed June 1, 2026 (not a new M&A event)","tickerTier":"mid-cap, S&P MidCap 400-class","eventGravity":"in-line quarterly earnings with reaffirmed guidance","sectorWeight":"publishing/media — steady, low-beta sector","householdBrandBoost":"200-year-old academic brand, limited retail following","resultVsExpectations":"in line, no beat/miss surprise"}},"durationMs":215212,"modelName":"glm-4.7"}}