McGraw Hill, Inc. Q3 2026 Earnings Call Summary

Core Insights - The Higher Education segment outperformed due to a record 30% market share and the success of the Evergreen platform, which now constitutes 70% of segment revenue [1] - Digital revenue has reached 84% of the total mix, indicating a structural shift towards high-margin, recurring subscription models that offer multi-year visibility [1] - The company's competitive advantage is supported by proprietary first-party data from billions of learning interactions, enabling evidence-based AI applications [1] Market Performance - The Evergreen model enhances sales productivity by automating content updates, allowing representatives to focus on acquiring new market share instead of managing legacy editions [1] - K-12 resilience is attributed to ranking first or second in 10 of the top 11 adoption opportunities, despite operating in a seasonally smaller market cycle [1] Operational Efficiency - Operational leverage has improved through the integration of technology in internal processes, including a new offer management system that reduces deal closing times [1]