Announces mid-term financial target, portfolio optimization plans, capital return plans with authorization to initiate a substantial issuer bid, new financial disclosures, and intention to dual-list in the U.S.TORONTO, Nov. 20, 2025 (GLOBE NEWSWIRE) -- Altus Group Limited (ʺAltus Group”, “Altus” or “the Company”) (TSX: AIF), a leading provider of commercial real estate (“CRE”) intelligence, is hosting an Investor Day today. Altus’ Executive Chair and incoming CEO Mike Gordon, along with other members of the ...

Financial Performance - YTD Q3 2025 Revenue reached €5542 million, a 77% increase at constant currency[11] - YTD Q3 2025 Adjusted EBITDA grew to €1358 million, an 112% increase at constant currency[11] - YTD Q3 2025 Free Cash Flow (pre-M&A) was €188 million, an increase of €257 million[11] - The company's leverage ratio decreased to 42x compared to the previous year[11] - Q3 2025 Net Revenue was €18654 million, a 40% increase[75] - YTD Group Profit reached €304 million, a 2454% increase[40] Business Segment Performance - Biopharma revenue increased by 91% YTD at constant currency, and 109% in Q3[45, 17] - IG (Immunoglobulin) franchise is a key driver of Biopharma growth, with overall growth ahead of the market[17] - Alpha-1 and specialty proteins also contributed to the growth of Biopharma[45] - Diagnostic revenue increased by 14% YTD at constant currency[45] Future Outlook - The company improved its revenue guidance for FY25 to €7600+ million at guidance FX rate[63] - The company improved its FCF pre-M&A pre-dividends guidance for FY25 to €400-425 million[63]

Core Insights - Clarivate Plc reported a slight increase in total revenues for Q3 2025, reaching $623.1 million, compared to $622.2 million in Q3 2024, indicating a growth of 0.1% [2][7] - The company experienced a net loss of $28.3 million in Q3 2025, an improvement from a net loss of $65.6 million in Q3 2024 [3][7] - Adjusted net income for Q3 2025 was $119.3 million, down from $134.1 million in Q3 2024, reflecting a decrease of 11.0% [3][7] Financial Performance - Total revenues for the first nine months of 2025 were $1,838.2 million, a decrease of 2.9% from $1,893.7 million in the same period of 2024 [4][7] - Organic revenues for the first nine months of 2025 increased by 0.2%, driven by a 0.6% rise in organic recurring revenues [4][7] - The company generated $468.6 million in operating cash flow and $276.1 million in free cash flow through the first nine months of 2025 [6][11] Shareholder Returns and Debt Management - Clarivate repurchased 11.7 million ordinary shares and allocated approximately $150 million for share repurchases in 2025 [2][6] - The company repaid $100 million of debt in Q3 2025, reducing total debt outstanding to $4,470.2 million [10][12] - The updated revenue outlook for 2025 was raised to between $2.42 billion and $2.45 billion, reflecting increased transactional book sales [12][13] Revenue Breakdown - Subscription revenues decreased by $5.7 million, or 1.4%, to $405.4 million in Q3 2025, while organic subscription revenues increased by 1.2% [8][26] - Transactional revenues increased by $8.0 million, or 7.7%, to $112.4 million, primarily due to higher transactional book sales [9][26] - The mix of organic recurring revenue to total revenue improved by 800 basis points to 88% for the first nine months of 2025, compared to 80% for the prior year [2][4] Outlook and Strategic Focus - The company remains committed to increasing its core subscription and recurring revenue mix while optimizing its business model [2][12] - Clarivate's strategic priorities include investing in innovation, driving operational efficiencies, and maximizing long-term value for shareholders [12][13] - The full-year 2025 outlook assumes no further acquisitions or divestitures, indicating a focus on organic growth [12][13]

Group 1 - Clarivate Plc is a diversified information services company with a share price of $4.15 and a forward P/E of 6.01 as of September 3rd [1][2] - The company operates across three core segments: Academia & Government (52% of FY24 revenue), Intellectual Property (32% of revenue), and Life Sciences & Healthcare (16% of revenue) [2][3] - The company has historically underperformed due to poorly integrated acquisitions and reliance on one-time transactional revenues, which account for approximately 19% of FY24 revenue [3] Group 2 - Under CEO Matti Shem Tov, Clarivate launched a Value Creation Plan (VCP) aimed at recurring revenue growth and operational improvements, resulting in stabilizing organic growth and strong recurring revenue retention of about 92% [4][5] - A formal review of strategic alternatives was initiated in February 2025, with private equity interest in the IP segment valued at around $4 billion, implying a 12x FY25E EBITDA [4] - The company's sum-of-the-parts (SOTP) analysis suggests a potential upside of approximately 45%, with divestitures expected to unlock value and reduce net leverage from its current level of about 4.3x [4][5] Group 3 - Clarivate benefits from mission-critical datasets and workflow solutions, with 64% of revenue derived from subscriptions and 17% from recurring patent maintenance [5] - The VCP, supported by activist and private equity investors, is expected to enhance margins and generate sustainable free cash flow estimated between $300 million and $380 million for FY25 [5] - The company presents an attractive entry point even in a standalone scenario, with potential catalysts including business unit sales and accelerating organic growth [5]

Company Overview - Grifols, S.A. is a global healthcare company headquartered in Barcelona, specializing in plasma-derived therapies, diagnostics, and hospital supplies, with a strong presence in over 100 countries [2]. Business Units and Focus Areas - The company's main business units include Bioscience, Diagnostics, and Hospital, focusing on immunotherapy, transfusion medicine, and critical care, addressing treatments for bleeding disorders, immunodeficiencies, and neurological conditions [2]. Expansion Plans - In mid-2025, Grifols announced plans to build a new manufacturing site in Spain, aimed at doubling its plasma fractionation capacity in Europe, reflecting a strategic commitment to meet rising demand for plasma-based therapies [3]. Financial Performance - Grifols reported a 7% increase in revenue to EUR 3,677 million in H1 2025, supported by its Value Creation Plan [3]. Market Positioning - The new facility in Spain is expected to strengthen Grifols' supply chain resilience and enhance its competitive position in the growing plasma therapeutics market, aiming to improve market share while addressing critical clinical needs [4].

Financial Data and Key Metrics Changes - The company reported Q2 revenue of $621 million, bringing the first half total to $1.2 billion, with changes attributed to the ScholarOne divestiture and business disposals, partially offset by organic growth and foreign exchange [23] - The second quarter net loss was $72 million, an improvement over the previous year due to the absence of a non-cash impairment charge recorded last year [24] - Adjusted diluted EPS was $0.18, with changes attributed to divestitures and disposals [24] - Free cash flow was strong at $50 million for Q2 and $161 million for the first half, driven by adjusted EBITDA despite higher one-time costs associated with the value creation plan [28][29] - The mix of organic recurring revenue to total revenue for the first half improved to 88%, an increase of 800 basis points compared to last year [21] Business Line Data and Key Metrics Changes - The A and G business delivered 2% organic ACV and subscription revenue growth, with a 96% renewal rate achieved [7][11] - The IP segment returned to organic growth in patent annuities, with recurring revenue rising by about 1.5% in the first half of 2025 [15] - Life Science and Healthcare segment saw a return to organic ACV growth, supported by investments in the Cortellis suite of products [18][70] Market Data and Key Metrics Changes - The company noted a market-wide surge in AI innovation, which is expected to drive growth in the patent renewal business [15] - The U.S. dollar weakened against foreign currencies, providing a foreign exchange translation tailwind on revenue and adjusted EBITDA [26][28] Company Strategy and Development Direction - The value creation plan (VCP) is on track, with measurable progress across key initiatives and KPIs, including AI-led product innovation and operational efficiency [5][8] - The company is transitioning away from transactional sales to increase recurring revenue, with A and G subscription revenue now constituting 93% of total segment revenue [10][11] - A strategic review is underway to assess alternatives across the business, with results expected to be communicated in February 2026 [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the renewal rates and subscription uptake despite macroeconomic challenges, highlighting the mission-critical nature of their products [61] - The company anticipates continued organic growth in the second half of the year, driven by improvements in the A and G and Life Sciences segments [39] - Management noted that the strategic disposals are expected to lower revenue by approximately $125 million this year, but are part of optimizing the business model [35] Other Important Information - The company announced the appointment of Maroon Murad as President of the IP segment, effective September 8, 2025 [17] - The company has completed refinancing $500 million of its 2026 bonds, extending the maturity by five years [30] Q&A Session Summary Question: Rebound in the IP business and AI opportunities - Management noted that new patent filings take a few years to impact renewals, but the trend of increased AI-related patents is expected to benefit the business globally over the next few years [44][46] Question: Potential changes to the U.S. patent fee structure - Management stated that they are well-positioned to support any changes in the IP ecosystem due to their long-standing presence and collaboration with patent offices and law firms [51][52] Question: University funding cuts and renewal outlook - Management reported strong renewal rates and emphasized the critical nature of their products to universities, indicating confidence in continued renewals [61] Question: Sales momentum and new sales incentive plan - Management highlighted the focus on subscription and recurring revenue, noting positive sales momentum and excitement within the sales organization [66] Question: Market dynamics in Life Sciences and Healthcare - Management indicated stable R&D spending and improvements in the subscription business, attributing growth to investments in the Cortellis suite [71] Question: Delays in disposals - Management explained that one disposal is taking longer due to customer requests for more time to adjust to alternative offerings [76]

Core Insights - Clarivate Plc reported total revenues of $621.4 million for Q2 2025, a decrease of 4.4% from $650.3 million in Q2 2024, primarily due to inorganic divestitures and disposals [2][8] - Organic revenues increased by 0.5% year-over-year, driven by a 0.8% rise in organic recurring revenues, although this was partially offset by lower organic transactional revenues [2][4] - The company experienced a net loss of $72.0 million in Q2 2025, an improvement from a net loss of $304.3 million in Q2 2024 [3][8] Financial Performance - Total revenues for the first half of 2025 were $1,215.1 million, down from $1,271.5 million in the first half of 2024, reflecting similar trends as Q2 [4][8] - Adjusted net income for Q2 2025 was $123.3 million, or $0.18 per diluted share, compared to $142.2 million, or $0.20 per diluted share in Q2 2024 [3][8] - Adjusted EBITDA for Q2 2025 was $261.6 million, down from $274.4 million in Q2 2024 [3][8] Cash Flow and Share Repurchase - Clarivate generated $287.5 million in operating cash flow and $160.6 million in free cash flow during the first half of 2025 [6][12] - The company repurchased approximately $100 million worth of shares, totaling 23.2 million ordinary shares at an average price of $4.29 per share [6][13] Outlook and Strategic Initiatives - The company reaffirmed its 2025 outlook, projecting organic ACV growth of 1.0% to 2.0% and total revenues between $2.28 billion and $2.40 billion [14][15] - Clarivate's CEO highlighted the positive momentum from the Value Creation Plan, which is expected to enhance profitability and value creation [7][14] - The company anticipates that improvements in its sales operating model and AI advancements will support future growth [7][14] Segment Performance - Subscription revenues for Q2 2025 were $405.7 million, essentially flat compared to Q2 2024, with organic subscription revenues increasing by 1.7% [9][10] - Transactional revenues decreased significantly by 21.5% to $106.8 million, primarily due to product group wind-downs [10][28] - The organic recurring revenue mix improved, with recurring revenues increasing by 0.8% organically [10][25]

Financial Performance - H1 2025 revenue reached €3677 million, a 70% increase at constant currency (cc)[14] - H1 2025 adjusted EBITDA was €876 million, up 127% cc[14] - Free cash flow pre-M&A for H1 2025 was -€14 million, an improvement of €182 million compared to H1 2024[-196 million][14] - The leverage ratio decreased to 42x in H1 2025, compared to 46x at the end of FY24[14] Business Segment Performance - Biopharma revenue grew by 82% cc in H1 2025[17] - Diagnostic revenue increased by 28% cc in H1 2025[23] Margin Expansion - Adjusted EBITDA margin increased by 80 bps in H1 2025, despite the IRA impact[17] - Like-for-like adjusted EBITDA margin increased by 171 bps in H1 2025[17] Capital Allocation - An interim dividend of €015 per share was reinstated[14] - Liquidity stands at €14 billion[43] Future Outlook - The company reaffirmed its 2025 guidance and improved its free cash flow pre-M&A guidance to €375 - €425 million[47]

Q1 2025 Earnings Call Apr 29, 2025 Safe Harbor Statement and Non-GAAP Financial Measures Forward-Looking Statements This communication includes statements that express our opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements" within the meaning of the "safe harbor provisions" of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can g ...

Core Insights - Clarivate Plc reported a total revenue of $593.7 million for Q1 2025, a decrease of 4.4% from $621.2 million in Q1 2024, primarily due to inorganic divestitures and foreign currency translation impacts [2][7] - The company experienced a net loss of $103.9 million, compared to a net loss of $75.0 million in the same quarter of the previous year [3][6] - Adjusted net income for Q1 2025 was $95.8 million, unchanged on a per share basis at $0.14 compared to Q1 2024 [3][32] Financial Performance - Organic revenues increased by 0.3% in Q1 2025, driven by a 0.6% increase in organic recurring revenues, while organic transactional revenues decreased [2][8] - Subscription revenues fell by 3.6% to $388.6 million, largely due to the divestiture of the ScholarOne product group [7][27] - Operating cash flow was $171.2 million, down from $176.2 million in the prior year, while free cash flow decreased slightly to $110.3 million [4][10] Strategic Initiatives - The CEO highlighted improved sequential organic Annual Contract Value (ACV) growth due to higher renewals and new business wins, emphasizing the effectiveness of the Value Creation Plan [5][11] - The company reaffirmed its full-year 2025 outlook, projecting organic ACV growth of 1.0% to 2.0% and total revenues between $2.28 billion and $2.40 billion [12][14] Balance Sheet and Cash Flow - As of March 31, 2025, cash and cash equivalents increased to $354.0 million, while total debt remained stable at $4,570.8 million [9][10] - The company repurchased $50 million of ordinary shares as part of its capital allocation strategy [4][11] Revenue Breakdown - Recurring revenues, which include subscription and re-occurring revenues, saw a slight organic increase of 0.6%, while transactional revenues dropped by 14.2% [8][27] - The decline in total ACV was primarily attributed to the divestiture of the ScholarOne product group and the wind-down of certain product lines [25][27]