John Wiley & Sons, Inc. · NYSE:WLY
John Wiley & Sons — Q4 2025 Earnings Presentation
26 slides from John Wiley & Sons's earnings presentation, Jun 17, 2025
Slide 1: Fourth Quarter & Fiscal 2025 Earnings Review
Fourth Quarter & Fiscal 2025 Earnings Review June 17, 2025 NYSE: WLY
Slide 2: Safe Harbor Statement and Non-GAAP Measures
SAFE HARBOR STATEMENT NON-GAAP MEASURES This release contains certain forward-looking statements concerning the Company's In this presentation, Wiley provides the following non-GAAP performance operations, performance, and financial condition. Reliance should not be placed on measures: forward-looki
Slide 3: Authoritative content and data-driven insights for science, innovation and learning
Authoritative content and data-driven insights for the advancement of science, innovation and learning 3
Slide 4: Key metrics: $1.66B Adjusted Revenue
$1.66B 48% Adjusted Revenue Recurring Revenue 15% 49% Adj. Operating Margin Revenue Outside the US 24% 1.8x Adjusted EBITDA Margin Net Debt to EBITDA 8% 3.5% Free Cash Flow Margin Dividend Yield 4 *Fiscal 2025 (dividend yield as of June 16, 2025)
Slide 5: Steady demand drivers correlated with global R&D investment and career enablement
Steady demand drivers correlated with global R&D investment and career enablement Wide moat with quality and scale and must have content and brands Resilient, compounding growth in defensive markets Strong recurring revenue base geographically well distributed AI beneficiary with emerging long-term
Slide 6: Fiscal 2025 Summary
Fiscal 2025 Summary 1 Growth in both Research and Learning driven by demand to publish, read, and apply our high-quality content 2 Steady growth in recurring revenue models with strong research submissions and output growth continuing Third major AI model training customer secured in Q4; total AI li
Slide 7: Growth across key metrics
Growth across key metrics Adjusted Revenue +3% Adjusted EPS +31% $3.64 $1,660 $1,617 $2.78 FY24 FY25 FY24 FY25 Adjusted EBITDA +8% Free Cash Flow +10% $398 $126 $369 $114 FY24 FY25 FY24 FY25 *Adjusted metrics exclude divestitures 7 Q425 Earnings Presentation.pptx
Slide 8: Another year of strong execution and progress
Another year of strong execution and progress OBJECTIVE STATUS FY25 PROGRESS - Exceeded guidance for Adjusted EPS; top end of margin guidance Deliver on our financial - Achieved guidance for Revenue, Segment Revenue, and Adjusted EBITDA commitments - Reaffirmed or raised Fiscal 2026 targets initiall
Slide 9: Research recovery and growth
Research recovery and growth Article Submissions Article Output Research Revenue Growth +19% +8% +3% Fiscal 2025 Highlights - Recurring revenue models with solid growth driven by journal expansion and output - Open access with double digit growth driven by global demand to publish - Strong demand ac
Slide 10: Learning growth continuing
Learning growth continuing Inclusive Access Growth Professional Title Signings Learning Revenue Growth +22% +16% +2% Fiscal 2025 Highlights - AI licensing revenue of $29M up 27% over prior year, driven by both Academic and Professional backlists - Inclusive Access with strong double-digit growth and
Slide 11: Steadfast in our continuous multi-year improvement
Steadfast in our continuous multi-year improvement Since January 2024: ✓ Met or exceeded guidance in both Fiscal 2024 and 2025 ✓ Raised our original Fiscal 2026 Adjusted EBITDA margin target by 150 bps ✓ Reaffirmed Fiscal 2026 FCF target of $200M, up from $114M and $126M in Fiscal 2024 and 2025 ✓ Re
Slide 12: Driving momentum in the corporate market
Driving momentum in the corporate market AI Licensing AI Licensing AI Development LLM Training Vertical Specific Models Co-Innovation Partnerships - Three big tech companies signed - Three pharma companies signed for drug - Announced Amazon Web Services for for training of LLM models discovery appli
Slide 13: Demonstrating resilience in an uncertain economy
Demonstrating resilience in an uncertain economy 48% • Research content is must have for researchers and institutions worldwide; research publishing is must have for career advancement • Good geographic distribution and funding diversity Recurring Revenue • Strong demand to publish and submissions p
Slide 14: Performance Outlook Financial Position
Performance Outlook Financial Position
Slide 15: Driving continuous margin expansion
Driving continuous margin expansion • Significant progress to-date with more to come • Go-forward areas include Technology and other corporate services; Adj. Operating Margin evaluating product profitability and real estate footprint • Overall corporate expenses down 10% in Q4 and 4% in FY25; unallo
Slide 16: Fourth Quarter Performance
Fourth Quarter Performance Adj. Revenue* GAAP Diluted EPS Adj. EPS* Adj. EBITDA* ▲0.2% ▲$0.79 ▲14% ▲0.2% $443M $1.25 $1.37 $126M *Adjusted Revenue, Adjusted EPS, and Adjusted EBITDA performance excludes divested businesses. Adjusted numbers exclude impact of foreign exchange ▪ Revenue performance dr
Slide 17: Fiscal Year Performance
Fiscal Year Performance Adj. Revenue* GAAP EPS Adj. EPS* Adj. EBITDA* FCF ▲3% ▲$5.18 ▲31% ▲8% ▲10% $1,660M $1.53 $3.64 $398M $126M *Adjusted Revenue, Adjusted EPS, and Adjusted EBITDA performance excludes businesses held for sale or sold. Adjusted numbers exclude impact of FX. ▪ Adjusted Revenue gro
Slide 18: Research
Research (millions) Q4 2025 Change Change CC FY 2025 Change Change CC Research Publishing $243 4% 4% $923 3% 3% Research Solutions $38 0% 0% $152 2% 2% Total Revenue $281 4% 3% $1,075 3% 3% Adjusted EBITDA $97 4% $345 5% Adjusted EBITDA Margin 34.7% 32.1% ▪ Research Publishing growth driven by recur
Slide 19: Learning
Learning (millions) Q4 2025 Change Change CC FY 2025 Change Change CC Academic $100 1% 1% $334 3% 3% Professional $62 (13%) (14%) $251 0% 0% Total Revenue $162 (5%) (5%) $585 2% 2% Adjusted EBITDA $70 (6%) $219 9% Adjusted EBITDA Margin 43.0% 37.4% ▪ Revenue growth driven by AI licensing revenue and
Slide 20: Strong financial position and return to shareholders
Strong financial position and return to shareholders Operating Cash Flow Free Cash Flow $52M $208M $24M $203M $126M $114M FY24 FY25 FY24 FY25 Dividends and Repurchases Leverage Ratio $137M $122M 1.7 1.8 FY24 FY25 FY24 FY25 20 Q425 Earnings Presentation.pptx
Slide 21: FY26 Outlook: Growth drivers in an uncertain economy
FY26 Outlook: Growth drivers in an uncertain economy Research • Good subscription growth in CY25 renewal cycle FY26 Commitments • Strong publishing demand and output pipeline • Improved execution in Solutions and continued demand for 1. Deliver profitable revenue growth databases and services for co
Slide 22: FY26 Outlook: Material margin and cash flow expansion
FY26 Outlook: Material margin and cash flow expansion Metric Fiscal 2024 Fiscal 2025 Fiscal 2026 Outlook Adjusted Revenue $1,617M $1,660M Low-to-mid single digit growth Adjusted EBITDA Margin 22.8% 24.0% 25.5% to 26.5% Adjusted EPS $2.78 $3.64 $3.90 to $4.35 Free Cash Flow $114M $126M Approximately
Slide 23: Executive Summary
Executive Summary 1 Delivering resilient, compounding growth through must-have content, recurring business models, good geographic diversity, and strong financials AI momentum continues with execution of content licensing agreements for 2 training and inference; corporate R&D opportunity emerging Ex
Slide 24: Thank you for joining us
Thank you for joining us investors.wiley.com Contact: brian.campbell@wiley.com (201) 748.6874
Slide 25: Appendix – US GAAP to Non-GAAP EPS Reconciliation
Appendix – US GAAP to Non-GAAP EPS Reconciliation JOHN WILEY & SONS, INC. Notes: SUPPLEMENTARY INFORMATION (1) (2) (1) See Explanation of Usage of Non-GAAP Performance Measures included in this supplementary information for additional details on the reasons why management believes presentation of ea
Slide 26: Appendix – Net Income to Adjusted EBITDA
Appendix – Net Income to Adjusted EBITDA JOHN WILEY & SONS, INC. SUPPLEMENTARY INFORMATION (1) RECONCILIATION OF US GAAP NET INCOME (LOSS) TO NON-GAAP EBITDA AND ADJUSTED EBITDA (unaudited) Three Months Ended Year Ended April 30, April 30, 2025 2024 2025 2024 Net Income (Loss) $ 68,093 $ 25,265 $ 84