FactSet(US:FDS)2025-12-18 11:57Financial Performance - Q1 GAAP revenues were $607.6 million, up 6.9% from Q1 2025, driven by institutional buy-side and dealmakers clients [4] - Q1 GAAP diluted EPS increased 4.4% to $4.06, while adjusted diluted EPS rose 3.2% to $4.51 compared to the prior year [4] - Revenues for the three months ended November 30, 2025, increased to $607,621,000, a 6.9% rise from $568,667,000 in the same period of 2024 [26] - Net income for the same period was $152,580,000, reflecting a 1.7% increase compared to $150,022,000 in 2024 [26] - Basic earnings per share rose to $4.08, up from $3.95, marking a 3.3% increase [26] - Organic revenues, excluding the impact of acquisitions and currency changes, were $600,029,000, a 6.0% increase from $566,017,000 [30] - Adjusted operating income for the quarter was $220,094,000, a 3.0% increase from $213,750,000 in the previous year [33] - EBITDA for the three months ended November 30, 2025, was $247,646,000, representing a 7.7% increase from $229,856,000 in 2024 [33] Cash Flow and Operating Activities - Net cash provided by operating activities was $121.3 million, a 40.4% increase year-over-year, with free cash flow rising 49.5% to $90.4 million [4] - The company reported a net cash provided by operating activities of $121,284,000, compared to $86,372,000 in the same period last year [29] - Free cash flow for the three months ended November 30, 2025, increased by 49.5% to $90,437 thousand compared to $60,498 thousand in the prior year [36] - Net cash provided for operating activities rose by 40.4% to $121,284 thousand from $86,372 thousand year-over-year [36] Annual Subscription Value (ASV) - Organic ASV was $2,389.6 million at November 30, 2025, reflecting a year-over-year increase of 5.9% or $132.9 million [4] - Annual ASV retention was greater than 95%, with a client count of 9,003 as of November 30, 2025 [11] - ASV from the Americas was $1,575.8 million, with organic ASV increasing 6.4% to $1,556.5 million [8] - Organic Annual Subscription Value (ASV) as of November 30, 2025, is reported at $2,389.6 million, reflecting an organic ASV annual growth rate of 5.9% [39] Guidance and Projections - Fiscal 2026 expectations include GAAP revenues projected between $2,423 million and $2,448 million [17] - Organic ASV is expected to grow between $100 million and $150 million during fiscal 2026 [17] - Fiscal 2026 revenue guidance ranges from $2,423 million to $2,448 million [34] - Adjusted operating income is projected between $832 million and $860 million, with an adjusted operating margin of 34.0% to 35.5% [34] - Net income guidance is set between $550 million and $577 million, with adjusted net income ranging from $640 million to $665 million [34] - Diluted earnings per share are expected to be between $14.55 and $15.25, with adjusted diluted EPS ranging from $16.90 to $17.60 [34] Costs and Margins - GAAP operating margin decreased to 31.6%, down approximately 200 bps year-over-year, primarily due to higher costs [4] - The adjusted tax rates for calculating adjusted net income and adjusted diluted EPS were 19.6% for the three months ended November 30, 2025, and 25.2% for the same period in 2024 [37] - The company reported intangible asset amortization of $75 million for fiscal 2026 guidance [34] Balance Sheet - Total assets decreased to $4,220,784,000 from $4,304,272,000 since August 31, 2025 [28] - Total liabilities decreased to $2,052,900,000 from $2,117,859,000 since August 31, 2025 [28] - Cash and cash equivalents at the end of the period were $275,448,000, down from $337,651,000 [28] Share Repurchase - FactSet's Board approved an increase in share repurchase authorization from $400 million to $1 billion [4] Foreign Currency and Acquisitions - The impact from foreign currency movements on ASV was $2.4 million, while acquisition ASV decreased by $23.9 million [39]