Financial Data and Key Metrics Changes - For fiscal year 2025, the company achieved annual revenue of $2.3 billion, with an adjusted operating margin of 36.3% and adjusted EPS of $16.98, all within guidance ranges [15][24] - Fourth quarter revenues increased by 6.2% year-over-year, reaching $597 million, contributing to a 5.4% overall revenue growth for fiscal 2025 [24][25] - The company reported organic ASV growth of $127 million for FY25, with Q4 organic ASV of $81.8 million, marking the largest quarter in the company's history [14][15] Business Line Data and Key Metrics Changes - Wealth management delivered strong Q4 performance with organic growth exceeding 10%, driven by significant seven-figure deals and competitive displacements [17][18] - The banking segment saw a 4% year-over-year organic ASV growth, with strong quarterly results attributed to confidence in the AI roadmap [18][20] - Off-platform ASV with wealth clients grew over 50% year-over-year, indicating successful expansion beyond traditional offerings [17] Market Data and Key Metrics Changes - In the Americas, organic ASV growth accelerated to 6%, with asset managers increasing technology investments [16] - EMEA region saw organic ASV growth improve to 4%, with strategic wins despite ongoing challenges for mid-sized asset managers [16] - Asia-Pacific experienced a 7% increase in organic ASV growth, driven by strong demand for middle office solutions and AI-ready data [16][21] Company Strategy and Development Direction - The company aims to become the leading AI-powered financial intelligence platform, focusing on integrating AI into client workflows and enhancing product offerings [10][11] - Strategic investments in AI and data expansion are prioritized to maintain market leadership and drive future growth [28][30] - The company plans to deepen integration with client workflows and expand offerings in data feeds and analytics solutions [29][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current environment of tight client budgets and longer sales cycles but remains confident in the company's competitive positioning [22][23] - The outlook for fiscal 2026 anticipates organic ASV growth of $100 million to $150 million, reflecting a conservative approach due to market dynamics [32][33] - The company expects continued strong demand for solutions, particularly in wealth management and banking, supported by a robust sales pipeline [31][32] Other Important Information - The company returned over $460 million to shareholders in fiscal 2025 through dividends and share repurchases, demonstrating a commitment to shareholder value [27] - The company divested RMS Partners to focus on core growth areas, which led to a one-time gain recognized in GAAP results [27][28] Q&A Session Summary Question: Margin decline breakdown and future outlook - Management indicated that margin decline is primarily due to increased investments in growth and structural changes, with expectations for operating leverage in the future [36][37][38] Question: AI strategy and competitive dynamics - The CEO emphasized the significant opportunity in AI, with ongoing efforts to understand client priorities and enhance product offerings [41][42][43] Question: Strength in wealth management - Management highlighted strong momentum in wealth management, with opportunities for seven-figure deals and improved client engagement [45][46][48] Question: Trends in bank hiring - Management noted improved hiring trends in banking, with a focus on productivity tools and AI-related offerings [70][71] Question: Internal productivity initiatives - Management discussed the importance of internal productivity improvements and the potential for AI to enhance efficiency and output [72][76][77]

Financial Data and Key Metrics Changes - For FY25, the company added $127 million of organic ASV, near the top end of guidance range [12] - Annual revenue increased to $2.3 billion, with an adjusted operating margin of 36.3% and adjusted EPS growing to $16.98 [13] - Q4 organic ASV reached $81.8 million, the largest quarter in company history, representing a sequential growth acceleration of 5.7% [13][22] - Q4 revenues increased 6.2% year over year, reaching $597 million, with FY25 delivering 5.4% overall revenue growth [22] Business Line Data and Key Metrics Changes - Wealth management delivered strong Q4 performance with organic growth exceeding 10%, driven by seven-figure deals [15] - Off-platform ASV with wealth clients grew more than 50% year-over-year [15] - Dealmaker's organic ASV grew 4% year-over-year, with strong quarterly results in banking [16] - The integration of Irwin and FactSet is driving growth in corporate IR needs [17] Market Data and Key Metrics Changes - In the Americas, organic ASV growth accelerated to 6%, with asset managers increasing technology investments [14] - EMEA organic ASV growth improved to 4%, with strategic wins including competitor displacement [14] - Asia-Pacific organic ASV growth increased 7%, driven by strong demand for middle office solutions and AI-ready data [14] Company Strategy and Development Direction - The company aims to become the leading AI-powered financial intelligence platform, focusing on client engagement and product innovation [5][10] - Strategic investments in AI and data solutions are expected to drive top-line growth and enhance client workflows [10][28] - The company plans to expand its offerings in data feeds and analytics solutions to meet the growing needs of advisors [28] Management's Comments on Operating Environment and Future Outlook - Management acknowledges tight client budgets and evolving market dynamics, leading to longer sales cycles [19] - The company is positioned at an inflection point with strategic investments beginning to translate into competitive advantages [32] - Guidance for FY26 anticipates organic ASV growth of $100 million to $150 million, reflecting a conservative approach due to current market conditions [30][31] Other Important Information - The company repurchased approximately 260,000 shares for $107 million during the quarter, concluding a $300 million share repurchase program [24] - A quarterly dividend of $1.10 per share was paid, marking the 26th consecutive year of dividend increases [25] - The company divested RMS Partners to concentrate resources on core growth areas [25][26] Q&A Session Summary Question: Margin decline breakdown and future outlook - Management indicated that margin decline is due to bonus normalization and additional hiring for investments, with expectations for operating leverage in the future [36][38] Question: AI strategy and competitive dynamics - The focus will be on understanding client priorities and enhancing product offerings, with AI seen as a significant opportunity for growth [41][42] Question: Strength in wealth management and future growth - The company sees ongoing demand for analytics and AI in wealth management, with opportunities for seven-figure deals and geographic expansion [46][48] Question: AI strategy and competitive moat - AI investments are expected to enhance internal efficiencies and client engagement, with a strong focus on implementation quality [52][56] Question: Trends in bank hiring - Improved hiring trends were noted in Q4, with expectations for continued momentum in the banking sector [73] Question: Accelerating organic revenue growth - The company believes that increased use of analytics and AI will drive demand for services, with a focus on executing existing opportunities [81][82]

Financial Data and Key Metrics Changes - In the second quarter, organic ASV grew by 4.1% year over year, with adjusted operating margin at 37.3% and adjusted diluted EPS at $4.28 [9][24] - GAAP revenues increased by 4.5% year over year to $571 million, while organic revenues grew by 4% to $568 million [25] - GAAP operating margin decreased by approximately 80 basis points to 32.5% compared to the previous year, while adjusted operating margin decreased by 100 basis points to 37.3% [25][26] - Free cash flow was $150 million in the second quarter, up 23% over the same period last year [29] Business Line Data and Key Metrics Changes - Wealth management saw double-digit growth, with significant market share gains, particularly with UBS selecting FactSet for their advisor desktops [12][13] - The banking segment faced challenges, but renewal activity increased notably, with over a dozen large banking renewals signed [14][15] - Private equity and venture capital (PEVC) experienced accelerated double-digit growth, while corporates also contributed to growth due to the Erwin acquisition [15][16] Market Data and Key Metrics Changes - In the Americas, organic ASV grew by 4%, with mixed results in asset management and banking [11] - EMEA saw organic ASV growth of 3%, with momentum in hedge funds and PEVC firms offset by headwinds in asset management [11] - Asia Pacific maintained 7% organic ASV growth, driven by strong sales of data solutions among wealth, corporates, hedge funds, and PEVC firms [11] Company Strategy and Development Direction - The company aims to drive top-line growth, focusing on wealth management as a key growth engine and expanding its product offerings [18][19] - Recent acquisitions, including Erwin and Liquidity Book, are expected to enhance cross-selling opportunities and accelerate growth [19][32] - The company is prioritizing investments in technology and generative AI to support growth and improve operational efficiency [34] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in reaching an inflection point in ASV growth, despite a challenging market environment [9][10] - There is optimism regarding the strength of the sales pipeline and product-led innovation, with expectations for growth acceleration in the second half of the year [10][20] - Management acknowledged ongoing market uncertainties but highlighted positive client dialogues and a robust pipeline [10][20] Other Important Information - The company repurchased nearly 137,000 shares for approximately $64 million and paid a quarterly dividend of $1.04 per share [31] - The gross leverage ratio was 1.7 times, consistent with maintaining investment-grade ratings [32] - The guidance for organic ASV growth was narrowed to a range of approximately 4.4% to 5.8% [33] Q&A Session Summary Question: Can you provide more details on the traction with clients regarding Pitch Creator and other Gen AI products? - Management noted strong momentum with Pitch Creator and other products, with positive reception from banks and ongoing trials with large clients [36][37] Question: Is the environment improving, or is the company performing better in a challenging environment? - Management indicated that while the environment remains tough, they have de-risked major challenges and are seeing strength across all markets [44][46] Question: How does the company view the impact of banking on guidance? - Management stated that they are not relying on banking for their numbers, with conservative estimates baked into guidance [52][54] Question: Is the UBS Vault deal included in ASV this quarter? - Management confirmed that the UBS deal was signed in the quarter, but the ASV impact will be realized in future quarters as implementation occurs [57][62] Question: What is the outlook for pricing in the context of lower CPI? - Management explained that lower CPI impacts annual price increases, but they are capturing additional ASV through higher pricing and increased volume in new business [64][68]