Financial Performance - Revenue for the three months ended July 31, 2023, decreased by $36.6 million, or 7%, compared to the prior year, with Adjusted Revenue of $367.1 million, down 8% on a constant currency basis [157][158]. - Operating loss for the same period was $16.4 million, compared to a loss of $17.0 million in the prior year, primarily due to lower operating and administrative expenses [160][172]. - Adjusted EBITDA for the three months ended July 31, 2023, was $59.7 million, down 10% compared to the prior year [160][177]. - Adjusted EBITDA decreased by 18% on a constant currency basis compared to the prior year, primarily due to revenue performance, while excluding Hindawi, it increased by 1% [194]. - Adjusted contribution to profit for the Learning segment increased significantly, with Adjusted EBITDA margin rising to 19.4% from 14.9% [195]. - Adjusted EPS for the three months ended July 31, 2023, was $0.27, down from $0.46 in the prior year, reflecting a decrease of 37% on a constant currency basis [190]. Expenses and Cost Management - Operating and administrative expenses decreased by $27.0 million, or 10%, compared to the prior year, reflecting lower employee costs from restructuring actions [161]. - Corporate expenses decreased by $15.3 million, or 24%, compared to the prior year, with a 15% decrease on a constant currency basis, mainly due to lower employee and occupancy costs [203]. - The company anticipates $10 million in in-year savings from restructuring actions taken in the first quarter, with annualized savings expected to reach approximately $12 million [168]. Impairments and Charges - The company recorded a goodwill impairment of $26.7 million, with $11.4 million attributed to University Services and $15.3 million to CrossKnowledge [162][164]. - A pretax impairment charge of $73.9 million was recorded for assets held-for-sale, including $40.6 million for University Services and $33.3 million for CrossKnowledge [181]. Revenue Breakdown - Over 80% of Wiley's revenue for fiscal year 2023 was generated by digital products, with 50% of revenue being recurring [151]. - Research revenue decreased by $17.1 million, or 6%, for the three months ended July 31, 2023, with a constant currency decrease of 7% primarily due to the Hindawi publishing disruption [192]. - Learning revenue decreased by $10.3 million, or 9%, for the three months ended July 31, 2023, with a constant currency decrease of 9% attributed to lower Academic print sales [196]. - Revenue for Held for Sale or Sold decreased by $9.1 million, or 10%, compared to the prior year, attributed to business dispositions and declines in placement revenues [200]. Cash Flow and Financing - Net cash used in operating activities for the three months ended July 31, 2023, was $(82.3) million, an improvement from $(89.9) million in the prior year [214]. - Net cash used in investing activities increased to $25.7 million from $21.8 million in the prior year, primarily due to higher technology and equipment additions [222]. - Net cash provided by financing activities was $105.8 million for the three months ended July 31, 2023, compared to $118.0 million in the prior year, mainly due to decreased long-term debt borrowings [223]. - The company had cash and cash equivalents of $107.2 million as of July 31, 2023, with approximately $104.8 million, or 98%, located outside the US [210]. Debt and Interest - As of July 31, 2023, the company had approximately $895.9 million of debt outstanding, with $600.6 million of unused borrowing capacity under its credit facilities [212]. - Interest expense increased to $11.3 million for the three months ended July 31, 2023, compared to $6.3 million in the prior year, due to a higher weighted average effective interest rate [178]. - As of July 31, 2023, the company has $395.9 million of unhedged variable rate debt, with a hypothetical one percent change in interest rates affecting net income and cash flow by approximately $3.0 million [228]. Foreign Exchange and Risk Management - Foreign exchange transaction losses amounted to $1.6 million for the three months ended July 31, 2023, primarily due to changes in average foreign exchange rates compared to the US dollar [179]. - During the three months ended July 31, 2023, the company recorded foreign currency translation gains of approximately $11.2 million, primarily due to fluctuations of the US dollar relative to the British pound sterling [230]. - The company is primarily exposed to fluctuations in the British pound sterling, euros, Canadian and Australian dollars, and certain currencies in Asia [229]. - The company may use derivative financial instruments to hedge against specific transactions, including foreign currency forward contracts [231]. Future Outlook - The company is divesting non-core businesses, including University Services, Wiley Edge, and CrossKnowledge, with completion expected during fiscal year 2024 [152]. - For fiscal year 2024, the company projects Adjusted Revenue to be between $1,580 million and $1,630 million, with Adjusted EBITDA expected to be between $305 million and $330 million [205]. - The company expects Hindawi revenue to decline to $20 million in fiscal year 2024, with recovery anticipated by fiscal year 2026 [192]. Shareholder Returns - The company increased its quarterly dividend to shareholders to $1.40 per share annualized, up from $1.39 per share in the prior year [224].

Revenue Breakdown - Research revenue accounted for approximately 54% of consolidated revenue for the year ended April 30, 2023, with a 34.9% Adjusted EBITDA margin[26] - Academic segment accounted for approximately 34% of consolidated revenue for the year ended April 30, 2023, with a 21.4% Adjusted EBITDA margin[46] - The company generated approximately $393 million in revenue from the disposed education businesses, representing about 19% of consolidated revenue for fiscal year 2023[70] - The Company generated revenue of $926.7 million from Research Publishing Products and $481.8 million from Academic Publishing Products for the year ended April 30, 2023[350] Digital Products and Services - Approximately 95% of Research revenue is generated by digital and online products and services[26] - Approximately 65% of Academic revenue is from digital and online products and services[46] - The company continues to implement strategies to manage print revenue declines while driving growth in digital lines of business[49] - The zyBooks platform enhances learner engagement and retention through interactive learning experiences, becoming a key component of the company's digital learning strategy[61] - The company’s digital content strategy includes delivering online articles, mobile apps, and promotional collateral, improving margins and meeting evolving customer needs[59] Strategic Initiatives - Key growth strategies for the Research segment include developing new licensing models and focusing on high-growth markets[29] - Transformational agreements provide full read access and open access publishing for a single fee, involving recurring revenue under multiyear contracts[40] - The company is exploring the sale of certain non-core education businesses, which may introduce significant risks and uncertainties[95] - The company is conducting a strategic review of its operations, which may lead to divestitures that could affect its consolidated financial position[94] Financial Performance - Net revenue for the year ended April 30, 2023, was $2,019.9 million, a decrease of 3.0% from $2,082.9 million in 2022[371] - Operating income significantly declined to $55.9 million in 2023 from $219.3 million in 2022, representing a decrease of 74.5%[371] - Net income for 2023 was $17.2 million, down 88.4% compared to $148.3 million in 2022[374] - Basic earnings per share dropped to $0.31 in 2023 from $2.66 in 2022, a decline of 88.4%[371] - Total costs and expenses increased to $1,964.0 million in 2023, up 5.4% from $1,863.7 million in 2022[371] Assets and Liabilities - Total assets decreased from $3,361.7 million in 2022 to $3,108.8 million in 2023, reflecting a decline of approximately 7.5%[368] - Total liabilities decreased from $2,219.4 million in 2022 to $2,063.8 million in 2023, a reduction of about 7.0%[368] - Shareholders' equity decreased from $1,142.3 million in 2022 to $1,045.0 million in 2023, representing a decline of approximately 8.5%[368] Operational Challenges - The company is highly dependent on retaining key talent, as loss of such talent could significantly impact performance[100] - Cybersecurity risks, including potential cyberattacks, could materially adversely affect the company's business and financial condition[111] - The company faces competitive pressures in retaining business relationships with authors and professional societies, which are critical for success[103] - A reduction in enrollment at colleges and universities could adversely affect demand for the company's higher education products[99] Cost Management - The company plans to implement additional restructuring actions in fiscal year 2024 to rightsize expenses following the planned business dispositions[70] - The company faces challenges in achieving anticipated cost savings from its Business Optimization Program and Fiscal Year 2023 Restructuring Program due to various operational risks[117] - The company has outsourced certain business functions to achieve cost savings, but risks include potential business disruptions if third-party providers do not perform effectively[118] International Operations - As of April 30, 2023, the University Services business had 64 university partners under contract, contributing to the company's growth in online education offerings[65] - The company has operations primarily located in the US, UK, India, Sri Lanka, and Germany, indicating a broad international presence[384] Compliance and Regulations - The company is subject to various laws and regulations that could adversely affect its consolidated financial position and results of operations, particularly regarding open access publishing mandates[134] - The company is subject to potential taxes in jurisdictions where it has sales, which could materially impact its consolidated financial position and results of operations[141] Market Risks - The company is exposed to market risks related to interest rates, foreign exchange, and credit risk, and uses derivative financial instruments to manage these exposures[331] - Changes in global economic conditions could impact the company's ability to borrow funds and meet future financing needs, although current liquidity remains stable[128] Environmental Commitment - The company is committed to being net zero by 2040, aligning with the Science Based Targets Initiative (SBTi) for corporate climate action[87] - The company achieved CarbonNeutral® certification for the fourth consecutive year, utilizing 100% renewable energy across its global operations[86]

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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: April 30, 2022 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 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 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2022 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 specified in its charter) New York 13-5593032 (State or other jurisdic ...

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 October 31, 2021 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 111 River Street, Hoboken, New Jersey 07030 (Address of principal executive offices) Zip Code (201) 748-6000 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE A ...

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, 2021 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 specified in its charter) New York 13-5593032 (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: April 30, 2021 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 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 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2021 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 New York 13-5593032 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 111 ...