Gartner, Inc. · NYSE:IT
Gartner — Q2 2026 Earnings Presentation
35 slides from Gartner's earnings presentation, Aug 4, 2026
Slide 1: Second Quarter 2026 Results
Second Quarter 2026 Results August 4, 2026 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. or its affiliates. This presentation, including all supporting materials, is proprietary to Gartner, Inc. and/or its affiliates and is for th
Slide 2: Forward Looking Statement and Explanatory Note
Forward Looking Statement and Explanatory Note Statements contained in this presentation regarding the growth and prospects of the business, the Company’s projected 2026 financial results, long-term objectives and all other statements in this presentation other than recitation of historical facts ar
Slide 3: Contents
Contents Consolidated Financials and Guidance 2Q 2026 Financial Results Page 4 2026 Guidance Page 5 Segment Results Insights Page 6 - 8 Conferences Page 9 Consulting Page 10 Capital Allocation Capital Structure and Allocation Page 11 Free Cash Flow Page 12 GAAP Financial Statements 2Q 2026 GAAP Fina
Slide 4: 2Q 2026 Growth and Financial Results
2Q 2026 Growth and Financial Results Global Contract Value (CV) Global Technology Sales CV Global Business Sales CV Y/Y: 1.7% $5.3B Y/Y: 1.1% $4.0B Y/Y: 3.3% $1.3B CV % increases are FX Neutral at 2026 rates; Sequential Growth: 0.3% Sequential Growth: ~flat Sequential Growth: 1.2% Global CV growth e
Slide 5: Guidance
Guidance 2026 Guidance • Insights revenues are nearly 100% subscription-based. $ millions, except per share amounts; shares in millions They reflect Q2 2026 contract value and CV growth accelerating over the course of 2026. Guidance as Updated Guidance as of of May 5, 2026 Incremental Business Augus
Slide 6: Insights Metrics
Insights Metrics Global Technology Sales 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 CV Y/Y Growth 5.5 % 3.6 % 1.7 % -0.0 % 0.4 % 1.1 % CV Sequential Growth -1.5 % -0.8 % -0.1 % 2.4 % -1.2 % -0.0 % Quota Bearing Head Count 3,707 3,695 3,715 3,704 3,584 3,581 Y/Y Growth 2.9 % 3.4 % 1.3 % -2.6 % -3.3 % -3.1 % Produ
Slide 7: Insights Metrics
Insights Metrics Global Sales 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 CV Y/Y Growth 6.7 % 4.9 % 3.0 % 0.8 % 1.0 % 1.7 % CV Sequential Growth -1.2 % -0.3 % 0.3 % 2.2 % -1.1 % 0.3 % Quota Bearing Head Count 5,038 5,034 5,018 4,984 4,866 4,874 Y/Y Growth 4.4 % 5.1 % 2.2 % -2.3 % -3.4 % -3.2 % Productivity ($ tho
Slide 8: Insights Segment
Insights Segment Revenues $ millions Contribution Margin 1,294 1,290 78.2% 1,283 77.5% 1,271 76.9% 77.1% 1,264 76.7% 1,256 76.0% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 1,256 1,264 1,271 1,283 1,294 1,290 5,073 Y/Y Growth 6.1
Slide 9: Conferences Segment
Conferences Segment Revenues $ millions Contribution Margin 286 59.5% 57.4% 244 51.3% 211 37.7% 38.8% 78 36.6% 73 75 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 73 211 75 286 78 244 645 Y/Y Growth 3.6% 13.6% -1.6% 13.9% 7.9% 15.5
Slide 10: Consulting Segment
Consulting Segment Revenues $ millions Contribution Margin 156 38.2% 39.6% 37.9% 140 142 134 124 30.9% 119 28.5% 27.1% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 140 156 124 134 119 142 552 Y/Y Growth 3.7% 8.8% -3.2% -12.8% -14.
Slide 11: Capital Structure and Allocation
Capital Structure and Allocation $ billions June 30, 2026 Rate Maturity Capital Structure Cash 1.5 nm nm • Optimizes financial leverage benefits and financial flexibility • Target 2.0-2.5x leverage1 2028 Bonds 0.8 4.50% 2028 • ~$500M cash is needed to run the business 2029 Bonds 0.6 3.63% 2029 2030
Slide 12: Free Cash Flow Conversion (LTM)
Free Cash Flow Conversion (LTM) % of Revenue - LTM 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Our typical Adjusted EBITDA margin to Free Cash Adjusted EBITDA 24.6 24.7 24.7 24.8 25.1 25.5 Flow margin conversion is about 4-6 percentage Cash interest, net (0.5) (0.4) (0.4) (0.5) (0.7) (0.9) points. Cash taxes (4.9
Slide 13: 2Q 2026 GAAP Financial Statements
2Q 2026 GAAP Financial Statements 13 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 14: Condensed Consolidated Statements of Operations
Three Months Ended Condensed 2026 June 30, 2025 Consolidated Revenues: Insights $ 1,289.8 $ 1,263.6 Conferences 244.2 211.4 Statements of Consulting Other 141.9 — 155.6 55.9 Total revenues 1,675.9 1,686.5 Operations Costs and expenses: Cost of services and product development 487.0 531.7 Unaudited;
Slide 15: Condensed Consolidated Balance Sheets
June 30, December 31, Condensed Assets Current assets: 2026 2025 Consolidated Cash and cash equivalents $ 1,488.7 $ 1,722.5 Fees receivable 1,202.2 1,684.5 Deferred commissions 352.2 400.7 Balance Prepaid expenses and other current assets Assets held-for-sale 181.2 — 152.2 106.4 Sheets Total current
Slide 16: Condensed Consolidated Statement of Cash Flows
Three Months Ended Condensed June 30, Operating activities: 2026 2025 Net income $ 275.5 $ 240.8 Consolidated Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization Stock-based compensation expense 45.2 41.0 50.7 43.0 Statement of Deferred tax
Slide 17: Appendix
Appendix 17 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 18: Consolidated Financial Summary
Consolidated Financial Summary $ and shares in millions except per share amounts 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 1,534 1,686 1,524 1,753 1,511 1,676 6,497 Y/Y Growth 4.2% 5.7% 2.7% 2.2% -1.5% -0.6% 3.7% Y/Y FX Neutral Growth 5.7% 4.6% 1.2% 0.3% -4.3% -1.6% 2.9% Contribution 1,059 1,155 1
Slide 19: Quarterly Financial Summary Charts
Quarterly Financial Summary Charts Contract Value $ millions @ '26 rates Quarterly Net Contract Value Increase (NCVI) $ millions 5,324 @ '26 rates 113 5,283 5,268 5,214 5,211 14 14 5,197 (17) (64) (56) 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Adj. Revenues $ millions Adj. EBITDA E
Slide 20: Contract Value Metrics (at 2026 FX Rates)
Contract Value Metrics (at 2026 FX Rates) Global Technology Sales CV dollars and CV growth rates have always been and will continue to $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 be presented on an FX Neutral basis. We are now also providing the sequential FX Neutral CV growth rates in addition to the
Slide 21: Contract Value Historical Growth Metrics - Y/Y
Contract Value Historical Growth Metrics -Y/Y Global Technology Sales Global Business Sales Global Sales 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2026 0.4% 1.1% 2026 3.2% 3.3% 2026 1.0% 1.7% 2025 5.5% 3.6% 1.7% -0.0% 2025 10.8% 9.2% 7.1% 3.5% 2025 6.7% 4.9% 3.0% 0.8% 2024 5.4% 6.1% 6.1% 6.6% 2024 12.3% 1
Slide 22: Contract Value Historical Growth Metrics - Sequential
Contract Value Historical Growth Metrics -Sequential There is notable seasonality in the business, improving through the year. Q4 is the largest sequential quarter. Global Technology Sales Global Business Sales Global Sales 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2026 -1.2% 0.0% 2026 -0.7% 1.2% 2026 -1.
Slide 23: Selected Results Excluding Divested Operation
Selected Results Excluding Divested Operation $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Consolidated - excluding divested operation Adjusted revenues 1,468 1,631 1,469 1,703 1,492 1,676 6,270 Adjusted EBITDA excluding divested operation 374 438 339 429 395 466 1,579 Adjusted EBITDA margin exclud
Slide 24: Non-GAAP P&L
Non-GAAP P&L $ millions except per share amounts 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 1,534 1,686 1,524 1,753 1,511 1,676 6,497 Less Cost of Services 475 532 474 573 429 487 2,054 Contribution 1,059 1,155 1,050 1,180 1,082 1,189 4,444 Less SG&A 730 777 763 798 726 765 3,068 Plus Equity Comp 5
Slide 25: Definitions
Definitions Adjusted Revenues: Represents GAAP revenues less revenues from our Digital Markets divested operation. We believe Adjusted Revenues is an important measure of our recurring operations as it provides a more accurate period-over period comparison of trends in revenues. Adjusted EBITDA and
Slide 26: Definitions
Definitions Return on Invested Capital: Represents NOPAT divided by Total Capital (Total Debt + Total Stockholders' Equity). We believe that ROIC is an important measure of the invested capital as it measures how effectively we deploy our capital base. ROIC is a profitability measure, not a measure
Slide 27: Definitions of Key Metrics/Calculations
Definitions of Key Metrics/Calculations Segment Business Measurements Insights Contract value represents the dollar value attributable to all of our subscription-related contracts. It is calculated as the annualized value of all contracts in effect at a specific point in time, without regard to the
Slide 28: Adjusted Working Capital and Non-Recurring Items
Adjusted Working Capital and Non-Recurring Items Adjusted working capital = Free Cash Flow - Adjusted EBITDA + Cash Taxes + Cash Interest Net of Interest income + Capex $ millions Non-Recurring Items Included in Free Cash Flow: 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Insurance Proceeds — —
Slide 29: Non-GAAP Reconciliations
Non-GAAP Reconciliations 29 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved.
Slide 30: Non-GAAP Reconciliations
Non-GAAP Reconciliations $ millions Reconciliation - GAAP Revenues to Adjusted Revenues 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2025 Total revenues 1,534.1 1,686.5 1,524.1 1,752.6 1,511.0 1,675.9 6,497.2 Less: Divested operation revenues (66.3) (55.9) (55.2) (50.0) (19.4) — (227.4) Adjusted revenues 1,467.8 1
Slide 31: Non-GAAP Reconciliations
Non-GAAP Reconciliations In millions except per share amounts Reconciliations - GAAP Net Income to Adjusted Net Income: 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 GAAP net income 210.9 240.8 35.4 242.2 222.3 275.5 (a) Consists of non-cash amortization charges from acquired intangibles. Adjustments: (b) Consists
Slide 32: Non-GAAP Reconciliations
Non-GAAP Reconciliations $ millions Reconciliation - Cash Provided by Operating Activities to Free Cash Flow: 2020 2021 2022 2023 2024 Cash provided by operating activities (1) 903.2 1,312.5 1,101.4 1,155.7 1,484.9 Less: cash paid for capital expenditures (83.8) (59.8) (108.1) (103.2) (101.7) Free C
Slide 33: Non-GAAP Reconciliations
Non-GAAP Reconciliations $ millions Reconciliations - Return on Invested Capital (ROIC) 4Q25 1Q26 2Q26 LTM Operating Income 1,026 1,064 1,115 Effective tax rate 22 % 22 % 22 % NOPAT 800 830 870 Debt 3,005 3,005 3,000 Stockholders' Equity (Deficit) 320 63 (167) Total Capital 3,325 3,068 2,833 Return
Slide 34: Non-GAAP Reconciliations - 2026 Guidance
Non-GAAP Reconciliations - 2026 Guidance Financial Outlook Reconciliation: GAAP Revenues to Adjusted Revenues ($ in millions) 2026 Guidance Total revenues ≥$ 6,394 Less: Divested operation revenues ~ (19) Adjusted revenues ≥$ 6,375 Financial Outlook Reconciliation: GAAP Net Income to Adjusted EBITDA
Slide 35: Non-GAAP Reconciliations - 2026 Guidance
Non-GAAP Reconciliations - 2026 Guidance 2026 Financial Outlook Reconciliation: GAAP Diluted EPS to Adjusted EPS Guidance GAAP Diluted EPS (a) ≥$ 13.14 Adjustments (after-tax): Amortization of acquired intangibles ~ 0.86 Workforce reduction expenses and other non-recurring items (b) ~ 0.06 Gain from