Revenue Performance - Revenue for Q1 2025 was $404 million, a decrease of 10% year-over-year, while adjusted revenue at constant currency was $390 million, an increase of 6%[2] - Total net revenue for the three months ended July 31, 2024, was $403,809,000, a decrease of 10% compared to $451,013,000 for the same period in 2023[30] - Adjusted revenue, net, excluding the held-for-sale segment, increased by 6% to $389,623,000 from $367,124,000 year-over-year[30] Segment Performance - Research segment revenue was $265 million, up 3% year-over-year, driven by growth in open access and institutional licensing models[3] - Learning segment revenue increased by 14% to $124 million, primarily due to a $16 million contribution from a GenAI content rights project[4] - The Learning segment's total net revenue increased by 14% to $124,314,000, driven by a 24% increase in Academic revenue[30] - The Research Publishing segment generated $230,951,000 in revenue, reflecting a 4% increase from $223,000,000 in the previous year[30] Earnings and Profitability - Adjusted EBITDA for Q1 was $73 million, reflecting a 22% increase year-over-year, with an adjusted EBITDA margin of 18.7%[2] - Adjusted EPS rose to $0.47, a 74% increase compared to the prior year[7] - Non-GAAP Adjusted Earnings Per Share (EPS) for the three months ended July 31, 2024, was $0.47, compared to $0.27 in the same period of 2023[20] - The company reported a Non-GAAP Adjusted EBITDA of $72.615 million for the three months ended July 31, 2024, with an adjusted EBITDA margin of 18.6%, up from 16.3% in the same period of 2023[28] - The adjusted EBITDA margin for the Learning segment improved to 27.2% from 19.4% year-over-year[30] Financial Outlook - The company reaffirmed its Fiscal 2025 revenue outlook of $1,650 million to $1,690 million, with adjusted EBITDA expected to be between $385 million and $410 million[10] - Capital expenditures for Fiscal 2025 are projected to be $130 million, up from $93 million in Fiscal 2024, to support research publishing platform work and infrastructure modernization[9] Cash Flow and Debt - Net cash used in operating activities was $88,712,000, compared to $82,335,000 in the same period last year[34] - Cash and cash equivalents decreased to $82,545,000 from $83,249,000 as of April 30, 2024[32] - Total assets decreased to $2,652,058,000 from $2,725,495,000 since April 30, 2024[32] - The net debt-to-EBITDA ratio at the end of the quarter was 2.0, compared to 1.9 in the previous year[8] Impairments and Losses - The company recorded a pretax noncash goodwill impairment of $26.7 million in fiscal year 2024, including $11.4 million for University Services and $15.3 million for CrossKnowledge[18] - The company recorded a pretax impairment of $51,000,000 related to CrossKnowledge, impacting the held-for-sale assets[33] - The total pretax loss on the sale of University Services was approximately $105.6 million for the three months ended July 31, 2024[25] - The company completed the sale of Wiley Edge on May 31, 2024, resulting in a pretax loss of $19.6 million[25] Shareholder Returns - The company allocated $32 million towards dividends and share repurchases, an increase from $29 million in the prior year[8] Non-GAAP Measures - The company emphasizes the use of non-GAAP performance measures to provide supplemental indicators of operating performance and financial position[37] - Adjusted EPS, Adjusted Revenue, and Adjusted Operating Income are key non-GAAP metrics used for performance evaluation[39] - Free Cash Flow less Product Development Spending is crucial for assessing long-term shareholder value creation[40] - Non-GAAP performance measures may not be comparable to similar measures used by other companies and should not be viewed as alternatives to US GAAP measures[42]

Revenue Breakdown - Research revenue accounted for approximately 56% of consolidated revenue for the year ended April 30, 2024, with a 31.8% Adjusted EBITDA margin[28]. - Learning segment accounted for approximately 31% of consolidated revenue for the year ended April 30, 2024, with a 34.9% Adjusted EBITDA margin[46]. - The Held for Sale or Sold segment accounted for approximately 13% of consolidated revenue for the year ended April 30, 2024, with a 12.6% Adjusted EBITDA margin[64]. - Approximately 96% of Research revenue is generated by digital and online products and services for fiscal year 2024[28]. - Approximately 59% of Learning revenue is from digital and online products and services for fiscal year 2024[46]. - The company recorded $892.8 million in research publishing revenue for the year ended April 30, 2024, primarily from journal subscriptions[387]. - Revenue for the year ended April 30, 2024, was $1,872,987, a decrease of 7.3% from $2,019,900 in 2023[402]. Digital Transformation - The company continues to implement strategies to efficiently manage print revenue declines while driving growth in digital lines of business[49]. - The transformation from a traditional publishing model to a digital content provider may disrupt business activities and affect financial performance[120]. - The company offers two Open Access publishing models, including Hybrid Open Access and fully open access journals, to meet the needs of researchers[39]. Financial Performance - Net loss for the year was $200,319 compared to a net income of $17,233 in 2023, representing a significant decline[405]. - Operating income decreased to $52,261 in 2024 from $55,890 in 2023, reflecting a decline of 3%[402]. - Total costs and expenses for 2024 were $1,820,726, down from $1,964,010 in 2023, indicating a reduction of 7.3%[402]. - The company reported an impairment of goodwill amounting to $108,449 in 2024, compared to $99,800 in 2023[402]. - Basic loss per share for 2024 was $(3.65), compared to earnings per share of $0.31 in 2023[402]. Assets and Liabilities - As of April 30, 2024, total assets decreased to $2,725.5 million from $3,108.8 million in 2023, reflecting a decline of approximately 12.3%[400]. - The company’s total liabilities decreased to $1,985.8 million in 2024 from $2,063.8 million in 2023, a decrease of about 3.8%[400]. - The company reported a total shareholders' equity of $739.7 million as of April 30, 2024, down from $1,045.0 million in 2023, indicating a decrease of approximately 29.2%[400]. Operational Changes - The company reorganized its segments into Research, Learning, and Held for Sale or Sold, with no changes to consolidated financial results[416]. - The company completed the sale of University Services on January 1, 2024, which previously provided education technology and support services[65]. - The sale of Wiley Edge, excluding its India operation, was completed on May 31, 2024, with the India operation expected to finalize later in 2024[66]. Employee and Diversity Initiatives - As of April 30, 2024, the company employed approximately 6,400 colleagues worldwide, with 870 placement candidates in the Wiley Edge product offering[68]. - Global gender representation shows 57% of colleagues are female, with 43% of senior leaders being female (Vice President and above)[70]. - The company is focused on four diversity, equity, and inclusion (DEI) strategic pillars to foster an inclusive culture and support underrepresented communities[75]. Environmental and Social Responsibility - The company aims to achieve net-zero emissions by 2040, having been CarbonNeutral® certified for three consecutive years starting February 2021[81]. - The company is actively engaging with suppliers to ensure they meet high standards for environmental sustainability and responsible energy consumption[82]. Risks and Challenges - The company faces emerging legal and ethical issues related to generative AI, which could adversely affect its business and financial condition[92]. - Cybersecurity risks remain a significant concern, with potential impacts on business operations and financial results due to cyberattacks[114]. - The company has invested heavily in cybersecurity tools and resources to protect its systems, but vulnerabilities still exist[115]. - The company is highly dependent on retaining key talent, as loss of such talent could significantly impact performance and financial results[103]. - A reduction in college enrollment could negatively impact demand for the company's higher education products, affecting financial results[102]. Market and Economic Conditions - The shift towards digital content has led to increased customer expectations for lower-priced products, which may reduce the company's revenue[99]. - The company has experienced cost increases due to inflation, which may adversely impact its consolidated financial position and results of operations[135]. - The company is exposed to significant risks from global economic, public health, and geopolitical conditions, which could negatively impact its consolidated financial positions and results of operations[150]. Tax and Compliance - Changes in global and local tax laws could materially impact the company's consolidated financial position and results of operations[141]. - The company may face severe penalties of up to 4% of worldwide revenue or €20 million for non-compliance with GDPR regulations[146]. - The company is subject to potential taxes in jurisdictions where it has sales, which could impact its consolidated financial position[144].

Financial Performance - Fiscal Year 2024 GAAP revenue was $1,873 million, a decrease of 7% year-over-year, while adjusted revenue at constant currency was $1,617 million, down 1%[7] - Fourth Quarter Adjusted EBITDA was $94 million, down 11% year-over-year, with an adjusted EBITDA margin of 34.6%[7] - Full Year Adjusted EPS was $2.78, a decrease of 19% compared to the previous year, while Fourth Quarter Adjusted EPS was $1.21, up 2% at constant currency[15] - Net Income for the three months ended April 30, 2024, was $25.3 million, a decrease of 63.1% compared to $68.3 million in the same period of 2023[50] - Non-GAAP Adjusted EBITDA for the year ended April 30, 2024, was $368.6 million, down 2.0% from $379.3 million in 2023[61] - Total Revenue for the three months ended April 30, 2024, was $468.5 million, a decline of 11% from $526.1 million in the same period of 2023[54] - Net loss for the year ended April 30, 2024, was $200,319 thousand, compared to a net income of $17,233 thousand in the previous year[67] Cost Management and Savings - The company achieved $90 million of $130 million run-rate cost savings actions in FY24, with a focus on margin expansion and strong cash generation[6] - The company reported a restructuring charge of $11.0 million for the three months ended April 30, 2024, compared to $4.2 million in the same period of 2023[54] Revenue Segmentation - Fourth Quarter Learning revenue was $170 million, an increase of 18% year-over-year, primarily due to a $23 million GenAI content rights project[14] - Research Publishing revenue decreased by 3% to $233.5 million for the three months ended April 30, 2024, compared to $240.9 million in 2023[54] - Academic revenue increased by 22% to $98.9 million for the three months ended April 30, 2024, compared to $80.8 million in 2023[54] - Non-GAAP Adjusted Operating Income for the Learning segment increased by 75% to $57.7 million for the three months ended April 30, 2024, compared to $32.9 million in 2023[54] - Held for Sale or Sold segment revenue decreased by 73% to $27.3 million for the three months ended April 30, 2024, compared to $101.8 million in 2023[54] Debt and Cash Flow - The net debt-to-EBITDA ratio at the end of the quarter was 1.7, compared to 1.5 in the prior year[15] - The company expects Free Cash Flow to grow to approximately $125 million in FY25, up from $114 million in FY24[12] - Free cash flow less product development spending decreased from $172,958 thousand in 2023 to $114,296 thousand in 2024, a decline of approximately 33.9%[68] - The company reported a net cash provided by operating activities of $207,638 thousand for the year ended April 30, 2024, down from $277,071 thousand in 2023, a decline of about 25.1%[67] Impairments and Losses - The company recorded a pretax noncash goodwill impairment of $11.4 million for University Services and $15.3 million for CrossKnowledge in the year ended April 30, 2024[28] - A pretax noncash goodwill impairment of $81.7 million was recognized for the Wiley Edge reporting unit in the year ended April 30, 2024[29] - The total pretax loss on the sale of University Services was $107.0 million for the year ended April 30, 2024[30] - The company recorded a held-for-sale pretax impairment charge of $74.8 million related to Wiley Edge and CrossKnowledge for the year ended April 30, 2024[31] - The total impairment charge for Wiley Edge in the year ended April 30, 2024, was $19.4 million, while for CrossKnowledge it was $55.4 million[31] - The company completed the sale of University Services on January 1, 2024, resulting in an increase in the pretax loss on the sale of approximately $5.6 million[44] Future Outlook - The outlook for FY25 includes adjusted revenue guidance of $1,650 million to $1,690 million, with growth driven by Research and Learning momentum[12] - The company expects to complete the sale of CrossKnowledge in the second quarter of fiscal year 2025[27] - The company plans to continue focusing on divesting non-core businesses to streamline operations and improve financial performance[65] - The company anticipates continued focus on market expansion and new product development in the upcoming fiscal year[51] Tax and Valuation - The adjusted effective tax rate for the company was 53.2% for the year ended April 30, 2024, compared to 20.2% for the previous year[48] - The company increased the valuation allowance by $30.2 million due to the likelihood that all or a portion of its deferred tax asset may not be realized[49] Asset Management - Total assets decreased from $3,108,810 thousand in April 2023 to $2,725,495 thousand in April 2024, a decline of approximately 12.3%[63] - Current assets fell from $541,279 thousand in April 2023 to $454,042 thousand in April 2024, representing a decrease of about 16.1%[63] - Total liabilities decreased from $2,063,783 thousand in April 2023 to $1,985,779 thousand in April 2024, a reduction of about 3.8%[63] - Long-term debt increased from $743,292 thousand in April 2023 to $767,096 thousand in April 2024, an increase of approximately 3.2%[63] - Cash and cash equivalents at the end of the period were $99,543 thousand, down from $107,262 thousand in the previous year, a decrease of approximately 7.9%[67]

Revenue Performance - For the three months ended January 31, 2024, consolidated revenue decreased by $30.7 million, or 6%, compared to the prior year, with adjusted revenue increasing by 1% on a constant currency basis [197]. - Consolidated Revenue for the nine months ended January 31, 2024 decreased by $89.2 million, or 6%, compared to the prior year [251]. - Adjusted Revenue for the nine months ended January 31, 2024 was $1,176.3 million, a decrease of 3% compared to the prior year [252]. - Research Publishing revenue for the three months ended January 31, 2024, was $216.6 million, a 1% increase from $213.7 million in the prior year [237]. - Research revenue for the three months ended January 31, 2024 increased by $2.6 million, or 1%, compared to the prior year on a reported basis [238]. - Total Learning Revenue increased by $3.1 million, or 2%, compared to the prior year, driven by growth in digital courseware and content [243]. - Total Learning Revenue for the nine months ended January 31, 2024 increased by $2.1 million, or 1%, compared to the prior year [293]. - Research Publishing revenue declined by 4% to $659.3 million for the nine months ended January 31, 2024 [289]. - Research revenue for the nine months ended January 31, 2024 decreased by $28.2 million, or 4%, compared to the prior year, primarily due to the Hindawi publishing disruption [290]. Operating Performance - Operating loss for the three months ended January 31, 2024, was $46.4 million, an improvement of $20.6 million compared to the prior year [197]. - Adjusted EBITDA for the three months ended January 31, 2024, was $91.5 million, an increase of 1% compared to the prior year [197]. - Adjusted EBITDA for the Research segment was $79.1 million for the three months ended January 31, 2024, a decrease of 1% from $80.3 million in the prior year [237]. - Adjusted EBITDA for Learning increased by 15% on a constant currency basis, attributed to revenue performance and product mix [244]. - Adjusted Operating Income (OI) decreased by 14% year-over-year, primarily due to lower revenues, partially offset by reduced costs [269]. - Adjusted EBITDA decreased by 7% year-over-year, mainly attributed to the decline in Adjusted OI [270]. - Adjusted EBITDA on a constant currency basis decreased by 13% compared to the prior year, with a decrease of $31.9 million attributed to Hindawi [291]. Financial Position - As of January 31, 2024, the company had cash and cash equivalents of $108.8 million, with approximately $107.1 million, or 98%, located outside the US [301]. - The company had approximately $906.8 million of debt outstanding as of January 31, 2024, with $587.4 million of unused borrowing capacity [303]. - Net cash provided by operating activities for the nine months ended January 31, 2024 was $24.4 million, a decrease of $29.3 million compared to the prior year [308]. - Free cash flow less product development spending for the nine months ended January 31, 2024 was $(45.2) million, compared to $(21.7) million in the prior year [307]. - Net cash provided by financing activities was $55.4 million for the nine months ended January 31, 2024, a slight increase from $55.3 million in the prior year [314]. Losses and Impairments - The company recorded a net loss of $113.9 million for the three months ended January 31, 2024, compared to a net loss of $71.5 million in the same period of 2023 [219]. - The company incurred pretax losses on sale of businesses and impairment charges related to assets held-for-sale amounting to $52.4 million for the three months ended January 31, 2024 [223]. - The company recorded a pretax loss on sale of businesses and impairment charges of $179.7 million for the nine months ended January 31, 2024 [277]. - Non-GAAP Adjusted EPS decreased by 30% to $1.59 for the nine months ended January 31, 2024, from $2.29 in the prior year [287]. Tax and Interest - The US GAAP effective tax rate for the three months ended January 31, 2024, was (1.4)%, compared to 7.7% for the same period in 2023 [232]. - The US GAAP effective tax rate for the nine months ended January 31, 2024, was 6.4%, up from 2.7% in the prior year [283]. - Interest expense increased to $37.6 million for the nine months ended January 31, 2024, compared to $27.2 million in the prior year [274]. Business Sales and Restructuring - The sale of University Services was completed on January 1, 2024, for a total consideration of $122.6 million, including a $92.9 million promissory note and $17.8 million in contingent consideration [194]. - The company expects to complete the sale of Wiley Edge and CrossKnowledge by the first quarter of fiscal year 2025, with total consideration for Wiley Edge up to $62.2 million [195]. - The company anticipates annualized cost savings of approximately $65 million from its Global Restructuring Program, with $35 million expected to be realized in the current fiscal year [209]. Shareholder Returns - Quarterly dividend increased to $1.40 per share annualized compared to $1.39 per share in the previous year [315]. - Shares repurchased for Class A increased to 870,000 shares in the nine months ended January 31, 2024, from 539,000 shares in the prior year [315]. Miscellaneous - Foreign currency translation gains of approximately $25.1 million were recorded during the three months ended January 31, 2024, primarily due to fluctuations in the US dollar against the British pound sterling [321]. - Subscription agents account for approximately 15% of total annual consolidated revenue, with no single group exceeding 10% [327]. - The top 10 book customers account for approximately 12% of total consolidated revenue and 36% of accounts receivable as of January 31, 2024 [328]. - Increase in inventories, net was $7.718 million as of January 31, 2024, compared to $6.923 million in April 2023 [326]. - Print book sales return reserve net liability balance increased to $(14.971) million as of January 31, 2024, from $(14.419) million in April 2023 [326].

Financial Performance - Wiley reported third quarter revenue of $461 million, a decrease of 6% year-over-year, with an operating loss of $46 million and an EPS loss of $2.08[6]. - Adjusted revenue, excluding held for sale segments, was $403 million, reflecting a 1% increase, while adjusted EBITDA was $92 million, also up by 1%[6]. - The company raised its full-year adjusted revenue outlook to the mid-to-high end of the range of $1,580 to $1,630 million, with adjusted EBITDA guidance increased to $335 to $355 million[10]. - For the three months ended January 31, 2024, John Wiley & Sons, Inc. reported a net loss of $113.875 million, compared to a net loss of $71.469 million in the same period of 2023[39]. - The company reported a US GAAP loss before taxes of $(112.3) million for the three months ended January 31, 2024[29]. - Total revenue for the three months ended January 31, 2024, was $460.705 million, down 6% from $491.368 million in the same period of 2023[44]. - For the nine months ended January 31, 2024, total revenue was $771.673 million, a decrease of 4% compared to $799.872 million in the same period of 2023[49]. - Total revenue for the nine months ended January 31, 2024, was $1,404,526, a decrease of 6% compared to $1,493,773 for the same period in 2023[50]. Segment Performance - Research segment revenue was $256 million, up 1% as reported, driven by modest growth in Research Publishing, while adjusted EBITDA for this segment was $79 million, down 1%[7]. - Learning segment revenue reached $146 million, up 2% as reported, with adjusted EBITDA increasing by 16% to $51 million, reflecting strong performance in digital courseware and content[7]. - Research Publishing revenue for the three months ended January 31, 2024, was $216.586 million, a 1% increase from $213.720 million in the same period of 2023[43]. - Learning segment revenue for the three months ended January 31, 2024, increased by 2% to $146.334 million, compared to $143.243 million in the prior year[43]. - The Held for Sale or Sold segment reported a revenue decline of 38%, down to $58.172 million from $94.525 million in the same period of 2023[43]. - Non-GAAP adjusted contribution to profit for the learning segment was $85,051, an increase of 27% compared to $67,185 in the previous year[50]. Impairment and Losses - The company recorded impairment charges of $82 million related to goodwill and a loss of $26 million on a completed divestiture, impacting GAAP results significantly[12]. - A pretax noncash goodwill impairment of $81.7 million was recorded for Wiley Edge in the three and nine months ended January 31, 2024[23]. - The company recorded a held-for-sale pretax impairment charge of $20.6 million for Wiley Edge and $56.2 million for CrossKnowledge in the nine months ended January 31, 2024[25]. - The company incurred restructuring charges of $14.808 million for the three months ended January 31, 2024, compared to $8.807 million in the same period of 2023, representing a 68% increase[44]. - Impairment of goodwill for the three months ended January 31, 2024, was $81.754 million, an 18% decrease from $99.800 million in the same period of 2023[44]. - The company recorded a pretax impairment of $76.8 million related to non-core businesses divested during the nine months ended January 31, 2024[54]. Cash Flow and Debt - Free cash flow less product development spending was a use of $45 million year-to-date, compared to a use of $22 million in the prior year[12]. - Free cash flow less product development spending was $(45,247) for the nine months ended January 31, 2024, compared to $(21,661) in the same period of 2023[57]. - Net debt-to-EBITDA ratio improved to 1.9 from 2.1 in the prior year, indicating better leverage[12]. - Cash and cash equivalents as of January 31, 2024, were $93,100, down from $106,714 as of April 30, 2023[52]. - Total assets decreased to $2,707,288 as of January 31, 2024, from $3,108,810 as of April 30, 2023[52]. Future Outlook - The company anticipates a strong fourth quarter driven by recovery in Research and continued outperformance in Learning, alongside accelerated in-year cost savings[3]. - The company expects to complete the sale of Wiley Edge and CrossKnowledge by the first quarter of fiscal year 2025[21]. Non-GAAP Measures - Adjusted Earnings Per Share (Adjusted EPS) and Adjusted Revenue are key metrics used to analyze operating results and earnings[67]. - Free Cash Flow less Product Development Spending indicates the cash available for debt repayment, dividends, and share repurchases[68]. - Adjusted Operating Income and margin provide insights into the company's profitability excluding certain expenses[68]. - Results on a constant currency basis enhance comparability of business trends by removing foreign currency effects[68]. - Adjusted Contribution to Profit and margin reflect the profitability of core operations[68]. - Adjusted Income Before Taxes and Adjusted Income Tax Provision are critical for understanding pre-tax earnings and tax obligations[68]. - Adjusted Effective Tax Rate offers a clearer view of the company's tax efficiency[68]. - EBITDA and Adjusted EBITDA are commonly used metrics to assess operational performance[67]. - Organic revenue growth, excluding acquisitions, is essential for evaluating the company's core business performance[68]. - Non-GAAP measures should not be viewed as alternatives to US GAAP financial results and may not be comparable with similar measures used by other companies[66].

Revenue Performance - Revenue for the three months ended October 31, 2023, decreased by $22.0 million, or 4%, compared to the prior year, with Adjusted Revenue decreasing by 2% on a constant currency basis [181]. - Revenue for the three months ended October 31, 2023, decreased by $17.6 million, or 17%, compared to the prior year, with placements declining by 40% and enrollments by 3% [220]. - For the six months ended October 31, 2023, consolidated revenue decreased by $58.6 million, or 6%, with Adjusted Revenue down 5% on a constant currency basis [225]. - Research revenue decreased by $13.7 million, or 5%, for the three months ended October 31, 2023, primarily due to the impact of the Hindawi publishing disruption [214]. - Research revenue decreased by $30.8 million, or 6%, for the six months ended October 31, 2023, compared to the prior year, with a constant currency decrease of 7% [258][259]. - Learning revenue increased by $9.3 million, or 7%, for the three months ended October 31, 2023, driven by growth in digital courseware and improved channel environment [217]. - Learning revenue was flat at $258.3 million for the six months ended October 31, 2023, compared to $259.3 million in 2022, with a constant currency decrease of 1% [261][262]. Operating Income and Expenses - Consolidated US GAAP Operating Income was $46.2 million, a decrease of 19% compared to the prior year, impacted by impairment charges of $51.9 million and restructuring charges totaling $25.1 million [185]. - Operating income for the six months ended October 31, 2023, decreased by $10.6 million, or 26%, primarily due to a decrease in revenue and goodwill impairment [239]. - Operating and administrative expenses were flat compared to the prior year, with a 2% decrease on a constant currency basis [186]. - Corporate expenses for the three months ended October 31, 2023, increased by $6.7 million, or 13%, primarily due to higher employee incentive compensation [223]. Impairment and Restructuring - The company recorded a pretax impairment charge of $51.9 million for assets held-for-sale, including $34.8 million for University Services and $17.1 million for CrossKnowledge, during the three months ended October 31, 2023 [200]. - The company recorded a pretax impairment of goodwill of $26.7 million for the six months ended October 31, 2023, due to adverse market conditions [231]. - The restructuring program aims to streamline operations and focus on profitable businesses, with a reduction in real estate square footage occupancy by approximately 28% overall [188]. - The company anticipates ongoing restructuring charges related to its Global Restructuring Program, which recorded pretax charges of $36.5 million for the six months ended October 31, 2023 [235]. Earnings and Tax Rates - US GAAP (Loss) Income Before Taxes for the three months ended October 31, 2023 was $(22,030) compared to $48,330 for the same period in 2022 [202]. - Non-GAAP Adjusted Income Before Taxes decreased to $52,913 for the three months ended October 31, 2023, down from $72,895 in the prior year [202]. - The US GAAP effective tax rate for the three months ended October 31, 2023 was 11.7%, down from 21.0% in the prior year, primarily due to held-for-sale impairments and US tax incentives [205]. - For the six months ended October 31, 2023, the US GAAP (Loss) Income Before Taxes was $(128.8) million, compared to $24.9 million in 2022, reflecting a significant decline [249]. - Non-GAAP Adjusted Income Before Taxes for the same period was $72.6 million, down from $106.6 million in 2022, indicating a decrease of approximately 32% [249]. - The US GAAP Effective Tax Rate decreased to 13.2% for the six months ended October 31, 2023, from 18.4% in 2022, primarily due to tax benefits from goodwill impairment [250][252]. Cash Flow and Debt - As of October 31, 2023, the company had cash and cash equivalents of $99.5 million, with approximately $97.3 million, or 98%, located outside the US [274]. - The company had approximately $942.6 million of debt outstanding and $552.7 million of unused borrowing capacity under its credit facilities as of October 31, 2023 [276]. - Net cash used in operating activities for the six months ended October 31, 2023 was $83.5 million, compared to $76.2 million in the prior year [278]. - Net cash used in investing activities increased to $51.9 million, primarily due to acquisitions of publication rights and technology [286]. - Net cash provided by financing activities was $129.7 million, a decrease from $151.6 million in the prior year, mainly due to reduced long-term debt borrowings [287]. Foreign Exchange and Inventory - The company reported foreign exchange transaction losses of $(2.4) million for the three months ended October 31, 2023, primarily due to losses on intercompany accounts [198]. - Foreign currency translation losses for the three and six months ended October 31, 2023, were approximately $(33.9) million and $(22.7) million, respectively, primarily due to fluctuations in the US dollar against the British pound sterling and euro [294]. - As of October 31, 2023, the company reported an increase in inventories to $7,603 million from $6,923 million as of April 30, 2023 [298]. Outlook and Projections - The company reaffirms its Fiscal Year 2024 outlook for Adjusted Revenue between $1,580 million to $1,630 million and Adjusted EBITDA between $305 million to $330 million [269]. - Adjusted EPS is projected to be between $2.05 to $2.40, reflecting lower adjusted operating income and higher interest expense [272]. - The company expects Hindawi revenue to decline by $35 million to $40 million for fiscal year 2024, with recovery anticipated in fiscal year 2025 [259].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File No. 001-11507 JOHN WILEY & SONS, INC. (Exact name of Registrant as specified in its charter) | New York | 13-5593032 | | --- | --- | | (Stat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: April 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 001-11507 JOHN WILEY & SONS, INC. (Exact name of Registrant as specified in its charter) | New York | 13-5593032 | | --- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File No. 001-11507 JOHN WILEY & SONS, INC. (Exact name of Registrant as specified in its charter) | New York | 13-5593032 | | --- | --- | | (S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2022 (Address of principal executive offices) Zip Code (201) 748-6000 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File No. 001-11507 JOHN WILEY & SONS, INC. (Exact name of Registrant as specifie ...