Core Insights - Altus Group Limited is entering a new growth phase with strategic initiatives aimed at enhancing its position as a pure-play commercial real estate intelligence provider [3] Mid-term Financial Target - The company aims to exit 2027 as a Rule of 40 company, defined by the sum of its revenue growth and Adjusted EBITDA margin [4] Portfolio Optimization - Altus Group plans to streamline its portfolio around core businesses, specifically ARGUS and Valuation Management Solutions (VMS), to focus on higher growth and margin assets [7] - The company has initiated a sale process to divest its Appraisals and Development Advisory (A&DA) segment, which is expected to unlock more value for employees and clients [7] - Other non-core Analytics products and services that dilute growth and retention rates are also under evaluation for divestment or optimization [7] Capital Return Plans - The Board of Directors has authorized up to C$500 million for shareholder returns through a combination of a Substantial Issuer Bid (SIB) and a Normal Course Issuer Bid (NCIB) [7] - The SIB will offer to purchase up to C$350 million of common shares, expected to commence on November 26, 2025, and expire on January 8, 2026 [7] - The SIB will proceed via a modified Dutch auction, allowing shareholders to select a price within a range of C$50 to C$57 per share [7] New Financial Disclosures - The company will introduce new financial disclosures on a quarterly basis starting with Q4 FY25, including revenue lines for Analytics segments and operating metrics like Annual Recurring Revenue (ARR) [13] - Adjusted EBITDA and Adjusted Earnings definitions will be updated to align better with reporting peers [13] U.S. Dual-Listing - Altus Group plans to pursue a secondary dual-listing of its common shares in the U.S. market, expected to occur in 2027, to enhance visibility and create more opportunities for investors [13]