Financial Performance - Adjusted Revenue reached $1.66 billion, with 48% being recurring revenue[11] - Adjusted EPS increased by 31% from $2.78 to $3.64[16] - Adjusted EBITDA grew by 8% from $369 million to $398 million[16] - Free Cash Flow increased by 10% to $126 million, with a Fiscal Year 2026 target of $200 million reaffirmed[13] - Adjusted Operating Margin increased by 300 bps to 15.1%, and Adjusted EBITDA Margin increased by 120 bps to 24.0%[13] Business Segments - Research revenue grew by 3%, driven by a 19% increase in article submissions and an 8% increase in article output[19] - Learning revenue grew by 2%, with Inclusive Access showing a 22% increase and Professional Title Signings up by 16%[22] - AI licensing revenue reached $40 million in Fiscal Year 2025, up from $23 million in Fiscal Year 2024[13,31] Corporate Strategy and Outlook - The company is focused on continuous margin expansion beyond Fiscal Year 2026[39] - The company reaffirms Fiscal Year 2026 Free Cash Flow target of approximately $200 million[26,59] - The company expects low-to-mid single digit growth in Adjusted Revenue for Fiscal Year 2026[59] - The company anticipates Adjusted EBITDA Margin between 25.5% and 26.5% and Adjusted EPS between $3.90 and $4.35 for Fiscal Year 2026[59]