JOHN WILEY SONS INC
For the period ended Jul 31, 2024. Filed Sep 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jul 31, 2024 · Filed Sep 6, 2024
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Learning revenue increased $15.0 million, or 14%, as compared with the prior year on a reported basis. On a constant currency basis, revenue increased 14% as compared with the prior year. This increase was primarily due to approximately $16 million related to an executed $21 million content rights project for training GenAI large language models in both Academic and Professional and, to a lesser extent, continued growth in Academic courseware, partially offset by a decrease in print book sales. On a constant currency basis excluding the GenAI project, Learning revenue decreased 1% as compared with the prior year.
On a constant currency basis, Adjusted EBITDA increased 60% as compared with the prior year. This increase was primarily due to revenue performanceand, to a lesser extent, a decrease in employee costs after recent restructuring actions and technology costs, partially offset by higher royalty costs, bad debt and marketing expenses.
INDEX
| Three Months EndedJuly 31, · % ChangeFavorable(Unfavorable) · Constant Currency % ChangeFavorable(Unfavorable) | ||||
|---|---|---|---|---|
| HELD FOR SALE OR SOLD · 2024 · 2023 | ||||
| Total Held for Sale or Sold Revenue | $14,186 | $83,889 | (83)% | (83)% |
| Cost of Sales | 6,470 | 55,509 | 88% | 88% |
| Operating Expenses | 10,235 | 23,293 | 56% | 56% |
| Amortization of Intangible Assets | — | 2,003 | # | # |
| Adjusted Operating (Loss) Income | (2,519) | 3,084 | # | # |
| Depreciation and amortization | — | 3,437 | # | # |
| Adjusted EBITDA | $(2,519) | $6,521 | # | # |
| Adjusted EBITDA Margin | (17.8)% | 7.8% | ||
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