Latest news with #Hoboken
Forbes
2 days ago
- Health
- Forbes
Low Concentrations Of Air Pollution Can Still Impact Health, Study Finds
HOBOKEN, NJ - JULY 20: The sun rises on the skyline of lower Manhattan and One World Trade Center in ... More New York City as a man walks through a park on July 20, 2023, in Hoboken, New Jersey. (Photo by) Exposure to air pollution air even at low concentrations can still have significant air impacts, according to a new analysis. The report by the Royal College of Physicians (RCP) highlights the growing evidence about the health impacts linked to air pollution and calls on the U.K. government to treat it as a serious and preventable health risk. It emphasises that poor ventilation, damp and mould, and emissions from domestic heating, gas cooking and household products all contribute significantly to poor health. The study, which has been published to mark Clean Air Day (19 June), also warns air pollution could contribute towards 30,000 deaths in the U.K. this year and cost the NHS and the economy billions. It urges the U.K. government to recognise air pollution as a public health issue, rather than a solely environmental one and tackle emissions from various sources, including wood burning, agriculture, transport and indoor pollutants. And it also calls for targeted support to protect the most vulnerable and affected communities and a nationwide public health campaign on air pollution. The RCP's special adviser on air quality, Professor Sir Stephen Holgate, from the University of Southampton, said up to 700 diseases have now been linked with air pollution in an interview. Professor Holgate added air pollution itself has changed and there is growing evidence to show how smaller pollution particles can penetrate the lungs and enter the bloodstream. 'Air quality is also interacting with many other factors,' he told me. 'It only very rarely causes a single disease, but can interact with other health issues, like diet, lifestyle, inequalities, and stress to act like a catalyst and force them to accelerate disease processes than in the absence of pollution.' Professor Holgate added air pollution is traditionally regarded as an environmental issue, but now needs to be seen much more as a public health concern. 'We need to get more public health messaging out there, and better champions in local authorities, GP surgeries and hospitals to tell the story about why air pollution is bad for you, and what can be done about it. 'And we have got to integrate air pollution policies with climate change policies, because some of these air pollutants like black carbon, are up to 1,500 times more potent than carbon dioxide at global warming and therefore cleaning up our urban environment will have a big impact towards achieving net zero,' he added. Clean Air Day is a national event organised by the non-profit Global Action Plan. As part of this year's event, more than 100 healthcare professionals will meet today at Great Ormond Street Hospital for Children (GOSH) in London and march to Parliament Square to demand action on air pollution. When they arrive, they will deliver a letter to the U.K government, which calls on it to meet World Health Organization (WHO) air quality guidelines. Global Action Plan's director of policy and campaigns, Larissa Lockwood said air pollution levels in urban areas across the country currently exceed the recommended limits set by the WHO, in a statement. This Clean Air Day healthcare workers and organisations have sent a clear message to the U.K. government that it's time to bring our air quality targets in line with the overwhelming medical consensus,' added Lockwood. The charity Asthma + Lung UK has also released the details of a new poll for Clean Air Day, which highlights the impact air pollution can have on people's health. Almost one in five of people with lung conditions surveyed said air pollution had caused an asthma attack or serious flare-up, while more than half said it left them feeling breathless. The poll also found nearly one in six respondents said they avoid leaving home when air pollution levels are high, and one in 10 reported feeling low or depressed because of it. Even among those who believe they're not affected by air pollution, a third of those surveyed were unaware of the risks, suggesting a significant gap in awareness.5 Asthma + Lung UK chief executive Sarah Sleet said the U.K. urgently needs tougher air quality laws, aligned with WHO guidelines, in a statement.
Condé Nast Traveler
2 days ago
- Lifestyle
- Condé Nast Traveler
This Roomy Crossbody Bag Does It All, From Weekend Errands to Crowded Airports
There is no item I love to shop for more than a handbag. Over the years, I've tried to curate a small but well-rounded collection: One black leather shoulder bag for evenings out, one fancy clutch for special date nights, and one polished tote for day trips. But as much as I love them, I only find myself reaching for this trio every now and then. Most of the time, whatever I'm doing requires a more casual and functional day bag. Enter: Athleta's All About Small Crossbody Hobo Bag. The moment I wrapped my arms around it, I knew I'd found the one. My bag of the summer. Since picking this crossbody up a few months ago, I haven't stopped taking it with me everywhere: grocery store runs, Sunday strolls through Hoboken, day trips down the shore, shopping around town, Pilates classes, you name it. The long, easy-to-adjust strap means you can go hands-free and wear it as a practical crossbody bag, or tighten things up and use it as small shoulder bag, elevating any outfit. It also strikes that perfect balance between sporty and feminine, meaning it fits the vibe whether I'm headed to a workout class or to the airport. Here's my full review. Chevron Chevron Athleta All About Small Crossbody Hobo Bag $59 Athleta Dimensions: 11" x 9" x 5" Fully extended strap: 14.5" drop Pros: It can be worn as a crossbody or a shoulder bag, roomy interior, water-resistant material Cons: When worn as a shoulder bag, the long strap hangs down a little awkwardly Why I love it: The convertible strap is what first attracted me to the bag. It's not complicated to adjust—just pull to extend the strap as needed. After taking it on the road with me countless times, the spacious interior is what has really won me over. I'm always surprised by how much I can fit inside—even when I think I've run out of room, I haven't. And as spacious as it is, it weighs next to nothing on my arm (as long as it's not stuffed full, of course). Best of all, it's super soft and not too structured, so I can lay it completely flat in my suitcase and forget it's there. It's even compact enough that I've been able to stash it in my weekender bag for a trip to the Jersey Shore. And if you prefer a smaller personal item for flights, this is just the right size, with enough room for your passport, AirPods, chargers, and a few small snacks. How much it holds: The bag's main compartment is seriously spacious, fitting my wallet, sunscreen, portable charger, handheld fan, and bulky sunglasses case with ease. You can store a day's worth of essentials without it becoming too heavy or bulky. There are two small mesh pockets inside where I stash lip balm, headphones, and some extra hair ties, and there's a zippered exterior side pocket for items you might want easy access to on the go, like your phone or hand sanitizer. These smart pockets make it easy for me to stay organized, especially when I'm lugging around my suitcase or a bag of groceries at the same time. And I so appreciate the built-in key leash that saves me from digging around the bag to find them. How it's held up: After taking it with me through many travels, I recommend this crossbody bag to anyone with things to do and places to see, whether you're headed out on a cruise excursion or shopping for souvenirs. Even if you get hit with some unexpected rain, the bag features a water-repellent finish, so it can handle whatever you throw at it. I'll admit I've spilled a few drops of coffee on the bag, and they wiped off easily. I have it in the off-white color (bone)—which matches nearly all my outfits—and it still looks good as new after months of use. It's also available in a slew of fun colors for summer, including a bright cerulean blue and a bold reddish orange. More colors: Final verdict: This is my everyday bag and I love it! It's easy to see why it's racked up hundreds of positive reviews and a perfect five-star rating on Athleta's website. It's a must for busy travelers who want something roomy that will keep them hands-free, and at just under $60, I think it's a great price for something so versatile and durable. If you do get your hands on this cute crossbody, be prepared for fawning from friends and strangers alike. My mom can't stop complimenting it, so I may or may not have bought it in black for her birthday!
Washington Post
3 days ago
- Business
- Washington Post
John Wiley & Sons: Fiscal Q4 Earnings Snapshot
HOBOKEN, N.J. — HOBOKEN, N.J. — John Wiley & Sons Inc. (WLY) on Tuesday reported net income of $68.1 million in its fiscal fourth quarter. The Hoboken, New Jersey-based company said it had profit of $1.25 per share. Earnings, adjusted for one-time gains and costs, came to $1.37 per share. The publisher posted revenue of $442.6 million in the period.
Yahoo
3 days ago
- Business
- Yahoo
Research Growth, AI Licensing, and Cost Reduction Drive Wiley's Fiscal 2025 Results
Exceeds Adjusted EPS Guidance, Significantly Expands Profit Margins, and Reaffirms Fiscal 2026 Growth Targets HOBOKEN, N.J., June 17, 2025--(BUSINESS WIRE)--Wiley (NYSE: WLY) today reported results for the fourth quarter and fiscal year ended April 30, 2025. FISCAL 2025 HIGHLIGHTS GAAP performance vs. prior year: Operating Income of $221 million vs. $52 million and Diluted Earnings Per Share (EPS) of $1.53 vs. ($3.65) Exceeded Adjusted EPS guidance, delivered at top end of range for Adjusted EBITDA margin, and achieved Free Cash Flow outlook Delivered Revenue and Adjusted EBITDA margin growth in both Research and Learning segments Achieved Adjusted Operating Margin expansion of 300 basis points Executed AI content licensing project this quarter with a third large tech company; $40 million in total AI licensing revenue realized in Fiscal 2025 compared to $23 million in Fiscal 2024 Drove a 34% increase in share repurchases and raised dividend for 31st consecutive year MANAGEMENT COMMENTARY "We delivered another strong year of execution as we met or exceeded our financial commitments, drove profitable growth in our core, expanded margins and free cash flow, and extended further into the corporate market through AI licensing and partnership, science analytics, and knowledge services," said Matthew Kissner, President and CEO. "Our multi-year journey of continuous improvement and innovation is yielding material gains in profitable revenue growth, margin expansion, and cash generation, and we remain steadfast and confident in our continued progress." FINANCIAL SUMMARY Please see accompanying financial tables for more detail. Q4 reported revenue of $443 million vs. $468 million due to foregone revenue from divestitures; Adjusted Revenue (excluding divestitures) essentially even with prior year at constant currency as expected; Research Publishing +4% constant currency. Q4 Operating Income of $76 million vs. $69 million; Adjusted Operating Income +15% with margin up 260bps. Diluted EPS of $1.25 vs. $0.46; Adjusted EPS +14% and Adjusted EBITDA essentially even. Full year reported revenue of $1,678 million vs. $1,873 million due to foregone revenue from divested businesses; Adjusted Revenue (excluding divestitures) +3% at constant currency. Full year Operating Income of $221 million vs. $52 million; Adjusted Operating Income +29% with margin up 300 basis points. Diluted EPS of $1.53 vs. ($3.65); Adjusted EPS +31% to $3.64, Adjusted EBITDA +8% to $398 million, and Cash from Operations of $203 million vs. $208 million; Free Cash Flow +10% to $126 million. RESEARCH Q4 Research revenue of $281 million was up 4% as reported and 3% at constant currency driven by solid growth in recurring revenue publishing models (calendar year 2025 journal renewals) and open access offsetting continued softness in backfiles, archives, and other ancillary products. Q4 Adjusted EBITDA of $97 million was up 4% as reported and at constant currency due to revenue growth. Adjusted EBITDA margin for the quarter rose modestly to 34.7%. Full year Research revenue was up 3% as reported and at constant currency driven by growth in publishing and solutions. Research Adjusted EBITDA was up 4% or 5% at constant currency with margin up 30 basis points to 32.1%. Key performance indicators remained strong for the year, with submissions up 19% and output up 8%. LEARNING Q4 Learning revenue of $162 million was down 5% as reported and at constant currency as expected due to a $23 million AI licensing agreement in the prior year, partially offset by growth in Academic and additional AI licensing revenue this quarter. Academic growth excluding AI licensing was driven by strong demand for inclusive access and digital courseware. Professional performance excluding AI licensing was impacted by retail channel softness. Q4 Adjusted EBITDA of $70 million for the quarter was down 6% as reported and at constant currency due to lower revenues. Adjusted EBITDA margin was 43.0% compared to 43.5% in prior year period. Full year Learning revenue of $585 million was up 2% as reported and at constant currency driven by growth in Academic and AI licensing. Learning Adjusted EBITDA of $219 million for the year was up 9% as reported and at constant currency. Adjusted EBITDA margin rose 250 basis points to 37.4%. CORPORATE EXPENSES "Corporate Expenses" are the portion of shared services costs not allocated to segments. Q4 Corporate Expenses declined by 8% or 7% at constant currency due to lower depreciation and amortization, or 3% on an Adjusted EBITDA basis at constant currency due to restructuring savings. Full year Corporate Expenses declined by 3% as reported and at constant currency due to lower depreciation and amortization, but rose 2% on an Adjusted EBITDA basis at constant currency due to enterprise modernization. BALANCE SHEET, CASH FLOW, AND CAPITAL ALLOCATION Net Debt-to-EBITDA Ratio was 1.8 compared to 1.7 in the year-ago period. Net Cash provided by Operating Activities was $203 million compared to $208 million primarily due to spend on cloud-based solutions related to targeted enterprise modernization work. This spend is capitalized and amortized, like capex, but reported in this section of the cash flow statement. Otherwise, cash flow benefited from higher adjusted EBITDA and favorable working capital movements. Free Cash Flow was up 10% to $126 million primarily driven by lower capex. Fiscal 2025 capex was $77 million vs. $93 million in prior year, however, capitalization between the two years were comparable when capex and cloud-based solution spend are combined. Returns to Shareholders: Wiley allocated $137 million toward dividends and share repurchases, up from $122 million in the prior year. $60 million was allocated to share repurchases at an average cost basis of $44.16. This allocation is up from $45 million in the prior year period. Divestiture Proceeds: After the year closed, Wiley received $120 million in cash proceeds related to the University Services divestiture, with the total outstanding note paid in full. FISCAL 2026 OUTLOOK Metric Fiscal 2024 Results Fiscal 2025 Results Fiscal 2026 Outlook Adj. Revenue $1,617M $1,660M Low to mid-single digit growth Adj. EBITDA Margin 22.8% 24% 25.5% to 26.5% Adj. EPS $2.78 $3.64 $3.90 to $4.35 Free Cash Flow $114M $126M Approximately $200M Note, growth outlook is comprehensive and includes adverse variances, including AI revenue in Fiscal 2025. Adjusted metrics exclude impact of divestitures, which were primarily completed in Fiscal 2024 with remainder completed in first half of Fiscal 2025. Approximately $17 million of divestiture-related revenue was recorded in Fiscal 2025. Adjusted Revenue – growth expectation driven by demand to publish and Calendar Year 2025 journal renewal growth in Research Publishing, steady market trends in Academic, and continued demand for our content and data in AI development, partially offset by large AI agreements in prior year. Adjusted EBITDA Margin – initial margin target was a range of 24 to 25% (January 2024). Wiley raised the target to 25%+ in March 2025, and this quarter to a range of 25.5% to 26.5%. Outlook is driven by anticipated cost savings, efficiency gains, and revenue growth. Adjusted EPS – growth expectation driven by higher expected Adjusted Operating Income. Free Cash Flow – growth outlook driven by expected Adjusted EBITDA growth, lower restructuring payments, and favorable working capital. EARNINGS CONFERENCE CALL Scheduled for today, June 17 at 10:00 am (ET). Access webcast at Investor Relations at or directly at U.S. callers, please dial (888) 210-3346 and enter the participant code 2521217#. International callers, please dial (646) 960-0253 and enter the participant code 2521217#. ABOUT WILEY Wiley (NYSE: WLY) is one of the world's largest publishers and a trusted leader in research and learning. Our industry-leading content, services, platforms, and knowledge networks are tailored to meet the evolving needs of our customers and partners, including researchers, students, instructors, professionals, institutions, and corporations. We enable knowledge-seekers to transform today's biggest obstacles into tomorrow's brightest opportunities. For more than two centuries, Wiley has been delivering on its timeless mission to unlock human potential. Visit us at and NON-GAAP FINANCIAL MEASURES Wiley provides non-GAAP financial measures and performance results such as "Adjusted EPS," "Adjusted Operating Income," "Adjusted EBITDA," "Adjusted Income before Taxes," "Adjusted Income Tax Provision," "Adjusted Effective Income Tax Rate," "Free Cash Flow less Product Development Spending," "organic revenue," "Adjusted Revenue," and results on a Constant Currency basis to assess underlying business performance and trends. Management believes non-GAAP financial measures, which exclude the impact of restructuring charges and credits and certain other items, and the impact of divestitures and acquisitions provide a useful comparable basis to analyze operating results and earnings. See the reconciliations of non-GAAP financial measures and explanations of the uses of non-GAAP measures in the supplementary information. We have not provided our 2026 outlook for the most directly comparable U.S. GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity, and low visibility with respect to certain items, including restructuring charges and credits, gains and losses on foreign currency, and other gains and losses. These items are uncertain, depend on various factors, and could be material to our consolidated results computed in accordance with U.S. GAAP. FORWARD-LOOKING STATEMENTS This release contains certain forward-looking statements concerning the Company's operations, performance, and financial condition. Reliance should not be placed on forward-looking statements, as actual results may differ materially from those in any forward-looking statements. Any such forward-looking statements are based upon a number of assumptions and estimates that are inherently subject to uncertainties and contingencies, many of which are beyond the control of the Company and are subject to change based on many important factors. Such factors include, but are not limited to: (i) the level of investment in new technologies and products; (ii) subscriber renewal rates for the Company's journals; (iii) the financial stability and liquidity of journal subscription agents; (iv) the consolidation of book wholesalers and retail accounts; (v) the market position and financial stability of key online retailers; (vi) the seasonal nature of the Company's educational business and the impact of the used book market; (vii) worldwide economic and political conditions; (viii) the Company's ability to protect its copyrights and other intellectual property worldwide (ix) the ability of the Company to successfully integrate acquired operations and realize expected opportunities; (x) the ability to realize operating savings over time and in fiscal year 2026 in connection with our multiyear Global Restructuring Program and completed dispositions; (xi) cyber risk and the failure to maintain the integrity of our operational or security systems or infrastructure, or those of third parties with which we do business; (xii) as a result of acquisitions, we have and may record a significant amount of goodwill and other identifiable intangible assets and we may never realize the full carrying value of these assets; and (xiii) other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise forward-looking statements to reflect subsequent events. CATEGORY: EARNINGS RELEASES JOHN WILEY & SONS, INFORMATION (1)(2)CONDENSED CONSOLIDATED STATEMENTS OF NET INCOME (LOSS)(Dollars in thousands, except per share information)(unaudited) Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 Revenue, net $ 442,579 $ 468,461 $ 1,677,609 $ 1,872,987 Costs and expenses: Cost of sales 110,941 123,345 431,380 579,722 Operating and administrative expenses 229,767 252,062 947,437 1,013,520 Impairment of goodwill(3) - - - 108,449 Restructuring and related charges 12,490 11,008 25,561 63,041 Amortization of intangible assets 12,909 13,264 51,822 55,994 Total costs and expenses 366,107 399,679 1,456,200 1,820,726 Operating income 76,472 68,782 221,409 52,261 As a % of revenue 17.3 % 14.7 % 13.2 % 2.8 % Interest expense (11,270 ) (11,411 ) (52,547 ) (49,003 ) Net foreign exchange transaction (losses) gains (826 ) 530 (8,142 ) (2,959 ) Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale(3) (13,580 ) (3,642 ) (23,340 ) (183,389 ) Other income (expense), net 1,469 (257 ) 5,498 (3,957 ) Income (loss) before taxes 52,265 54,002 142,878 (187,047 ) (Benefit) provision for income taxes (15,828 ) 28,737 58,717 13,272 Effective tax rate -30.3 % 53.2 % 41.1 % -7.1 % Net income (loss) $ 68,093 $ 25,265 $ 84,161 $ (200,319 ) As a % of revenue 15.4 % 5.4 % 5.0 % -10.7 % Earnings (loss) per share Basic $ 1.27 $ 0.46 $ 1.56 $ (3.65 ) Diluted(4) $ 1.25 $ 0.46 $ 1.53 $ (3.65 ) Weighted average number of common shares outstanding Basic 53,683 54,591 54,054 54,945 Diluted(4) 54,458 55,356 54,830 54,945 Notes: (1) The supplementary information included in this press release for the three months and year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) All amounts are approximate due to rounding. (3) Net loss on sale of businesses, assets, and impairment charges related to assets held-for-saleFor the three months and year ended April 30, 2025 and 2024, we recorded net pretax (loss) gain on sale of businesses, assets, and impairment charges related to assets held-for-sale as follows: Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 Wiley Edge $ (74 ) $ 1,275 $ (14,852 ) $ (19,401 ) University Services (13,428 ) (5,636 ) (12,578 ) (107,048 ) CrossKnowledge (78 ) 719 4,119 (55,440 ) Tuition Manager - - 120 (1,500 ) Sale of assets - - (149 ) - Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale $ (13,580 ) $ (3,642 ) $ (23,340 ) $ (183,389 ) As previously announced in fiscal year 2024, we executed a plan to divest non-core businesses included in our Held for Sale or Sold segment, including University Services, Wiley Edge, and CrossKnowledge. These three businesses met the held-for-sale criteria starting in the first quarter of fiscal year 2024. We measured each disposal group at the lower of carrying value or fair value less costs to sell prior to its disposition. On January 1, 2024, we completed the sale of University Services. On June 5, 2025, Wiley entered into an agreement to sell the Seller Note, the fiscal year 2026 earnout, the TVG Investment, and agreed on the fiscal year 2025 earnout for total cash consideration of $119.5 million, which was fully paid in June 2025. In the year ended April 30, 2025, due to the process of selling these assets, as well as third-party customer consents, working capital adjustments, and changes in the costs to sell, we recognized an additional net loss on sale and impairments of assets of $12.6 million. In the three months ended April 30, 2025, we recognized an additional net loss of $13.4 million. On May 31, 2024, we completed the sale of Wiley Edge, with the exception of its India operations which sold on August 31, 2024. Upon the completion of the sale, we recognized a net loss of $14.9 million in the year ended April 30, 2025 primarily due to subsequent changes in the fair value less costs to sell including reducing the fair value of the contingent consideration in the form of an earnout from $15.0 million to zero in the third quarter of fiscal year 2025, partially offset by the sale of the India operations. On August 31, 2024, we completed the sale of CrossKnowledge. On May 31, 2023, we completed the sale of Tuition Manager. In the second quarter of fiscal year 2025, we sold a facility which was reflected in Technology, property, and equipment, net in our Unaudited Condensed Consolidated Statements of Financial Position. Impairment of goodwill In fiscal year 2024, we reorganized our segments and recorded pretax noncash goodwill impairments of $108.4 million which included $81.7 million related to Wiley Edge, $11.4 million related to University Services, and $15.3 million related to CrossKnowledge. (4) In calculating diluted net loss per common share for the year ended April 30, 2024, our diluted weighted average number of common shares outstanding excludes the effect of unvested restricted stock units and other stock awards as the effect was antidilutive. This occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive. JOHN WILEY & SONS, INFORMATION (1) (2)RECONCILIATION OF US GAAP MEASURES to NON-GAAP MEASURES(unaudited) Reconciliation of US GAAP Earnings (Loss) per Share to Non-GAAP Adjusted EPS Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 US GAAP Earnings (Loss) Per Share - Diluted $ 1.25 $ 0.46 $ 1.53 $ (3.65 ) Adjustments: Impairment of goodwill - - - 1.90 Restructuring and related charges 0.14 0.16 0.36 0.85 Foreign exchange losses on intercompany transactions, including the write off of certain cumulative translation adjustments (3) (0.01 ) 0.01 0.08 0.02 Amortization of acquired intangible assets (4) 0.15 0.02 0.76 0.68 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale (5) 0.18 0.04 0.38 2.81 Held for Sale or Sold segment Adjusted Net (Income) Loss (5) - (0.03 ) 0.05 (0.42 ) Income tax adjustments (0.34 ) 0.55 0.48 0.54 EPS impact of using weighted-average dilutive shares for adjusted EPS calculation (6) - - - 0.05 Non-GAAP Adjusted Earnings Per Share - Diluted $ 1.37 $ 1.21 $ 3.64 $ 2.78 Reconciliation of US GAAP Income (Loss) Before Taxes to Non-GAAP Adjusted Income Before Taxes (amounts in thousands) Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 US GAAP Income (Loss) Before Taxes $ 52,265 $ 54,002 $ 142,878 $ (187,047 ) Pretax Impact of Adjustments: Impairment of goodwill - - - 108,449 Restructuring and related charges 12,490 11,008 25,561 63,041 Foreign exchange losses on intercompany transactions, including the write off of certain cumulative translation adjustments (3) - 815 5,590 1,903 Amortization of acquired intangible assets (4) 12,908 13,324 51,864 57,874 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale (5) 13,580 3,642 23,340 183,389 Held for Sale or Sold segment Adjusted (Income) Loss Before Taxes (5) - (2,409 ) 3,578 (30,661 ) Non-GAAP Adjusted Income Before Taxes $ 91,243 $ 80,382 $ 252,811 $ 196,948 Reconciliation of US GAAP Income Tax (Benefit) Provision to Non-GAAP Adjusted Income Tax Provision, including our US GAAP Effective Tax Rate and our Non-GAAP Adjusted Effective Tax Rate US GAAP Income Tax (Benefit) Provision $ (15,828 ) $ 28,737 $ 58,717 $ 13,272 Income Tax Impact of Adjustments (7) Impairment of goodwill - 255 - 2,953 Restructuring and related charges 4,633 2,425 5,947 15,662 Foreign exchange losses on intercompany transactions, including the write off of certain cumulative translation adjustments (3) 571 471 1,170 582 Amortization of acquired intangible assets (4) 4,720 11,459 10,231 20,127 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale (5) 3,715 1,197 2,368 26,908 Held for Sale or Sold segment Adjusted Tax (Provision) Benefit (5) - (622 ) 807 (7,140 ) Income Tax Adjustments Impact of valuation allowance on the US GAAP effective tax rate (8) 18,776 (30,249 ) (26,008 ) (30,249 ) Impact of change in certain US state tax rates in 2025 (8) (117 ) - (117 ) - Non-GAAP Adjusted Income Tax Provision $ 16,470 $ 13,673 $ 53,115 $ 42,115 US GAAP Effective Tax Rate -30.3 % 53.2 % 41.1 % -7.1 % Non-GAAP Adjusted Effective Tax Rate 18.1 % 17.0 % 21.0 % 21.4 % Notes: (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 each non-GAAP performance measure provides useful information to investors. The supplementary information included in this press release for the three months and year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) All amounts are approximate due to rounding. (3) In fiscal year 2023 due to the closure of our operations in Russia, the Russia entity was deemed substantially liquidated. The formal liquidation was completed in the fourth quarter of fiscal year 2025. In the three months and year ended April 30, 2025, we wrote off an additional $1.1 million and $1.4 million, respectively, of cumulative translation adjustments in earnings. In the three months and year ended April 30, 2024, we wrote off an additional $0.2 million and $1.0 million, respectively, of cumulative translation adjustments in earnings. These amounts are reflected in Net foreign exchange transaction (losses) gains on our Condensed Consolidated Statements of Net Income (Loss). (4) Reflects the amortization of intangible assets established on the opening balance sheet for an acquired business. This includes the amortization of intangible assets such as developed technology, customer relationships, tradenames, etc., which is reflected in the "Amortization of intangible assets" line in the Condensed Consolidated Statements of Net Income (Loss). It also includes the amortization of acquired product development assets, which is reflected in Cost of sales in the Condensed Consolidated Statements of Net Income (Loss). (5) For the three months and year ended April 30, 2025 and 2024, we recorded net pretax loss (gain) on sale of businesses, assets, and impairment charges related to assets held-for-sale as follows: Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 Wiley Edge $ 74 $ (1,275 ) $ 14,852 $ 19,401 University Services 13,428 5,636 12,578 107,048 CrossKnowledge 78 (719 ) (4,119 ) 55,440 Tuition Manager - - (120 ) 1,500 Sale of assets - - 149 - Net pretax loss on sale of businesses, assets, and impairment charges related to assets held-for-sale $ 13,580 $ 3,642 $ 23,340 $ 183,389 For the three months and year ended April 30, 2025 and 2024, we recorded income tax benefit (provision) on sale of businesses, assets, and impairment charges related to assets held-for-sale as follows: Three Months EndedApril 30, Year EndedApril 30, 2025 2024 2025 2024 Wiley Edge $ 263 $ 890 $ (1,054 ) $ 890 University Services 3,109 307 3,109 25,643 CrossKnowledge 344 - 344 - Tuition Manager - - (30 ) 374 Sale of assets - - - - Benefit on sale of businesses, assets, and impairment charges related to assets held-for-sale $ 3,715 $ 1,197 $ 2,368 $ 26,908 In addition, our Adjusted EPS excludes the Adjusted Net Income or Loss of our Held for Sale or Sold segment. (6) Represents the impact of using diluted weighted-average number of common shares outstanding (55.7 million for the year ended April 30, 2024) included in the Non-GAAP Adjusted EPS calculation in order to apply the dilutive impact on adjusted net income due to the effect of unvested restricted stock units and other stock awards. This impact occurs when a US GAAP net loss is reported and the effect of using dilutive shares is antidilutive. (7) For the three months and year ended April 30, 2025 and 2024, respectively, substantially all of the tax impact was from deferred taxes. (8) In fiscal year 2024, due to temporary differences in the US, our deferred taxes reversed from a net deferred tax liability position to a net deferred tax asset position. Due to losses in the US resulting from impairments, restructuring, and acceleration of amortization expense on capitalized software, we concluded it was more-likely-than-not that all or a portion of our deferred tax asset may not be realized. As a result, we established a valuation allowance of $30.2 million. During fiscal year 2025 we increased this valuation allowance by $26.0 million, because of an increase in the US net deferred tax asset attributable primarily to interest expense disallowance and intangible and fixed assets. In connection with the increase in certain US state tax apportionment factors and state rate changes in 2025, we recorded income tax expense of $0.1 million for the three months and year ended April 30, 2025. JOHN WILEY & SONS, 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 $ 84,161 $ (200,319 ) Interest expense 11,270 11,411 52,547 49,003 (Benefit) provision for income taxes (15,828 ) 28,737 58,717 13,272 Depreciation and amortization 36,681 47,613 147,126 176,989 Non-GAAP EBITDA 100,216 113,026 342,551 38,945 Impairment of goodwill - - - 108,449 Restructuring and related charges 12,490 11,008 25,561 63,041 Net foreign exchange transaction losses (gains) 826 (530 ) 8,142 2,959 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale 13,580 3,642 23,340 183,389 Other (income) expense, net (1,469 ) 257 (5,498 ) 3,957 Held for Sale or Sold segment Adjusted EBITDA (2) - (2,409 ) 3,578 (32,148 ) Non-GAAP Adjusted EBITDA $ 125,643 $ 124,994 $ 397,674 $ 368,592 Adjusted EBITDA Margin 28.4 % 28.3 % 24.0 % 22.8 % Notes: (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 each non-GAAP performance measure provides useful information to investors. The supplementary information included in this press release for the three months and year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) Our Non-GAAP Adjusted EBITDA excludes the Held for Sale or Sold segment Non-GAAP Adjusted EBITDA. JOHN WILEY & SONS, INFORMATION (1) (2)SEGMENT RESULTS(in thousands)(unaudited) % Change Three Months EndedApril 30, Favorable(Unfavorable) 2025 2024 Reported Constant Currency Research: Revenue, net Research Publishing $ 243,061 $ 233,455 4 % 4 % Research Solutions 37,660 37,577 0 % 0 % Total Revenue, net $ 280,721 $ 271,032 4 % 3 % Non-GAAP Adjusted Operating Income $ 75,168 $ 68,282 10 % 10 % Depreciation and amortization 22,303 25,513 13 % 13 % Non-GAAP Adjusted EBITDA $ 97,471 $ 93,795 4 % 4 % Adjusted EBITDA margin 34.7 % 34.6 % Learning: Revenue, net Academic $ 100,146 $ 98,908 1 % 1 % Professional 61,712 71,237 -13 % -14 % Total Revenue, net $ 161,858 $ 170,145 -5 % -5 % Non-GAAP Adjusted Operating Income $ 58,715 $ 57,682 2 % 1 % Depreciation and amortization 10,948 16,358 33 % 33 % Non-GAAP Adjusted EBITDA $ 69,663 $ 74,040 -6 % -6 % Adjusted EBITDA margin 43.0 % 43.5 % Held for Sale or Sold: Total Revenue, net $ - $ 27,284 # # Non-GAAP Adjusted Operating Income $ - $ 2,409 # # Depreciation and amortization - - # # Non-GAAP Adjusted EBITDA $ - $ 2,409 # # Adjusted EBITDA margin 0.0 % 8.8 % Corporate Expenses: Non-GAAP Adjusted Corporate Expenses $ (44,921 ) $ (48,583 ) 8 % 7 % Depreciation and amortization 3,430 5,742 40 % 40 % Non-GAAP Adjusted EBITDA $ (41,491 ) $ (42,841 ) 3 % 3 % Consolidated Results: Revenue, net $ 442,579 $ 468,461 -6 % -6 % Less: Held for Sale or Sold Segment (3) - (27,284 ) # # Adjusted Revenue, net $ 442,579 $ 441,177 0 % 0 % Operating Income $ 76,472 $ 68,782 11 % 11 % Adjustments: Restructuring charges 12,490 11,008 -13 % -13 % Held for Sale or Sold Segment Adjusted Operating Income (3) - (2,409 ) # # Non-GAAP Adjusted Operating Income $ 88,962 $ 77,381 15 % 15 % Adjusted Operating Income margin 20.1 % 17.5 % Depreciation and amortization 36,681 47,613 23 % 23 % Less: Held for Sale or Sold Segment depreciation and amortization (3) - - # # Non-GAAP Adjusted EBITDA $ 125,643 $ 124,994 1 % 0 % Adjusted EBITDA margin 28.4 % 28.3 % Notes: (1) The supplementary information included in this press release for the three months and year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) All amounts are approximate due to rounding. (3) Our Adjusted Revenue, Adjusted Operating Income and Adjusted EBITDA excludes the impact of our Held for Sale or Sold segment Revenue, Adjusted Operating Income or Loss and Adjusted EBITDA results. # Variance greater than 100% JOHN WILEY & SONS, INFORMATION (1) (2)SEGMENT RESULTS(in thousands)(unaudited) % Change Year EndedApril 30, Favorable(Unfavorable) 2025 2024 Reported Constant Currency Research: Revenue, net Research Publishing $ 922,553 $ 892,784 3 % 3 % Research Solutions 152,906 149,921 2 % 2 % Total Revenue, net $ 1,075,459 $ 1,042,705 3 % 3 % Non-GAAP Adjusted Operating Income $ 255,580 $ 237,763 7 % 8 % Depreciation and amortization 89,302 93,422 4 % 5 % Non-GAAP Adjusted EBITDA $ 344,882 $ 331,185 4 % 5 % Adjusted EBITDA margin 32.1 % 31.8 % Learning: Revenue, net Academic $ 333,693 $ 323,541 3 % 3 % Professional 251,075 251,198 0 % 0 % Total Revenue, net $ 584,768 $ 574,739 2 % 2 % Non-GAAP Adjusted Operating Income $ 174,850 $ 142,733 23 % 22 % Depreciation and amortization 43,900 57,696 24 % 24 % Non-GAAP Adjusted EBITDA $ 218,750 $ 200,429 9 % 9 % Adjusted EBITDA margin 37.4 % 34.9 % Held for Sale or Sold: Total Revenue, net $ 17,382 $ 255,543 -93 % -93 % Non-GAAP Adjusted Operating (Loss) Income $ (3,578 ) $ 28,711 # # Depreciation and amortization - 3,437 # # Non-GAAP Adjusted EBITDA $ (3,578 ) $ 32,148 # # Adjusted EBITDA margin -20.6 % 12.6 % Corporate Expenses: Non-GAAP Adjusted Corporate Expenses $ (179,882 ) $ (185,456 ) 3 % 3 % Depreciation and amortization 13,924 22,434 38 % 38 % Non-GAAP Adjusted EBITDA $ (165,958 ) $ (163,022 ) -2 % -2 % Consolidated Results: Revenue, net $ 1,677,609 $ 1,872,987 -10 % -10 % Less: Held for Sale or Sold Segment (3) (17,382 ) (255,543 ) -93 % -93 % Adjusted Revenue, net $ 1,660,227 $ 1,617,444 3 % 3 % Operating Income $ 221,409 $ 52,261 # # Adjustments: Restructuring charges 25,561 63,041 59 % 59 % Impairment of goodwill - 108,449 # # Held for Sale or Sold Segment Adjusted Operating Loss (Income) (3) 3,578 (28,711 ) # # Non-GAAP Adjusted Operating Income $ 250,548 $ 195,040 28 % 29 % Adjusted Operating Income margin 15.1 % 12.1 % Depreciation and amortization 147,126 176,989 17 % 17 % Less: Held for Sale or Sold depreciation and amortization (3) - (3,437 ) # # Non-GAAP Adjusted EBITDA $ 397,674 $ 368,592 8 % 8 % Adjusted EBITDA margin 24.0 % 22.8 % # Variance greater than 100% JOHN WILEY & SONS, INFORMATION (1)CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION(in thousands)(unaudited) April 30, April 30, 2025 2024 Assets: Current assets Cash and cash equivalents $ 85,882 $ 83,249 Accounts receivable, net 228,410 224,198 Inventories, net 22,875 26,219 Prepaid expenses and other current assets 102,717 85,954 Current assets held-for-sale - 34,422 Total current assets 439,884 454,042 Technology, property and equipment, net 162,125 192,438 Intangible assets, net 595,044 615,694 Goodwill 1,121,505 1,091,368 Operating lease right-of-use assets 66,128 69,074 Other non-current assets 306,780 283,719 Non-current assets held-for-sale - 19,160 Total assets $ 2,691,466 $ 2,725,495 Liabilities and shareholders' equity: Current liabilities Accounts payable $ 60,948 $ 55,659 Accrued royalties 109,765 97,173 Short-term portion of long-term debt 10,000 7,500 Contract liabilities 462,693 483,778 Accrued employment costs 93,117 96,980 Short-term portion of operating lease liabilities 18,282 18,294 Other accrued liabilities 66,051 76,266 Current liabilities held-for-sale - 37,632 Total current liabilities 820,856 873,282 Long-term debt 789,435 767,096 Accrued pension liability 71,899 70,832 Deferred income tax liabilities 105,145 97,186 Operating lease liabilities 81,482 94,386 Other long-term liabilities 70,443 71,760 Long-term liabilities held-for-sale - 11,237 Total liabilities 1,939,260 1,985,779 Shareholders' equity 752,206 739,716 Total liabilities and shareholders' equity $ 2,691,466 $ 2,725,495 Notes: (1) The supplementary information included in this press release for April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. JOHN WILEY & SONS, INFORMATION (1)CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited) Year EndedApril 30, 2025 2024 Operating activities: Net income (loss) $ 84,161 $ (200,319 ) Impairment of goodwill - 108,449 Net loss on sale of businesses, assets, and impairment charges related to assets held-for-sale 23,340 183,389 Amortization of intangible assets 51,822 55,994 Amortization of product development assets 16,610 22,835 Amortization of cloud computing arrangements 1,081 1,210 Depreciation and amortization of technology, property, and equipment 78,694 98,160 Other noncash charges 101,808 106,507 Net change in operating assets and liabilities (154,925 ) (168,587 ) Net cash provided by operating activities 202,591 207,638 Investing activities: Additions to technology, property, and equipment (61,473 ) (76,080 ) Product development spending (15,228 ) (17,262 ) Businesses acquired in purchase transactions, net of cash acquired (3,602 ) (3,116 ) Net cash transferred related to the sale of businesses and assets (7,642 ) (1,771 ) Acquisitions of publication rights and other (6,073 ) (8,414 ) Net cash used in investing activities (94,018 ) (106,643 ) Financing activities: Net debt borrowings 13,509 27,767 Cash dividends (76,101 ) (76,964 ) Purchases of treasury shares (60,421 ) (45,050 ) Other (2,317 ) (12,974 ) Net cash used in financing activities (125,330 ) (107,221 ) Effects of exchange rate changes on cash, cash equivalents and restricted cash 3,146 (1,493 ) Change in cash, cash equivalents and restricted cash for period (13,611 ) (7,719 ) Cash, cash equivalents and restricted cash - beginning 99,543 107,262 Cash, cash equivalents and restricted cash - ending $ 85,932 $ 99,543 CALCULATION OF NON-GAAP FREE CASH FLOW LESS PRODUCT DEVELOPMENT SPENDING (2) Year Ended April 30, 2025 2024 Net cash provided by operating activities $ 202,591 $ 207,638 Less: Additions to technology, property, and equipment (61,473 ) (76,080 ) Less: Product development spending (15,228 ) (17,262 ) Free cash flow less product development spending $ 125,890 $ 114,296 Notes: (1) The supplementary information included in this press release for the year ended April 30, 2025 is preliminary and subject to change prior to the filing of our upcoming Annual Report on Form 10-K with the Securities and Exchange Commission. (2) See Explanation of Usage of Non-GAAP Performance Measures included in this supplemental information. JOHN WILEY & SONS, OF USAGE OF NON-GAAP PERFORMANCE MEASURES In this earnings release and supplemental information, management may present the following non-GAAP performance measures: Adjusted Earnings Per Share (Adjusted EPS); Free Cash Flow less Product Development Spending; Adjusted Revenue; Adjusted Operating Income and margin; Adjusted Income Before Taxes; Adjusted Income Tax Provision; Adjusted Effective Tax Rate; EBITDA, Adjusted EBITDA and margin; Organic revenue; and Results on a constant currency basis. Management uses these non-GAAP performance measures as supplemental indicators of our operating performance and financial position as well as for internal reporting and forecasting purposes, when publicly providing our outlook, to evaluate our performance and calculate incentive compensation. We present these non-GAAP performance measures in addition to US GAAP financial results because we believe that these non-GAAP performance measures provide useful information to certain investors and financial analysts for operational trends and comparisons over time. The use of these non-GAAP performance measures may also provide a consistent basis to evaluate operating profitability and performance trends by excluding items that we do not consider to be controllable activities for this purpose. The performance metric used by our chief operating decision maker to evaluate performance of our reportable segments is Adjusted Operating Income. We present both Adjusted Operating Income and Adjusted EBITDA for each of our reportable segments as we believe Adjusted EBITDA provides additional useful information to certain investors and financial analysts for operational trends and comparisons over time. It removes the impact of depreciation and amortization expense, as well as presents a consistent basis to evaluate operating profitability and compare our financial performance to that of our peer companies and competitors. For example: Adjusted EPS, Adjusted Revenue, Adjusted Operating Income, Adjusted Income Before Taxes, Adjusted Income Tax Provision, Adjusted Effective Tax Rate, Adjusted EBITDA, and organic revenue (excluding acquisitions) provide a more comparable basis to analyze operating results and earnings and are measures commonly used by shareholders to measure our performance. Free Cash Flow less Product Development Spending helps assess our ability, over the long term, to create value for our shareholders as it represents cash available to repay debt, pay common stock dividends, and fund share repurchases and acquisitions. Results on a constant currency basis remove distortion from the effects of foreign currency movements to provide better comparability of our business trends from period to period. We measure our performance excluding the impact of foreign currency (or at constant currency), which means that we apply the same foreign currency exchange rates for the current and equivalent prior period. In addition, we have historically provided these or similar non-GAAP performance measures and understand that some investors and financial analysts find this information helpful in analyzing our operating margins and net income, and in comparing our financial performance to that of our peer companies and competitors. Based on interactions with investors, we also believe that our non-GAAP performance measures are regarded as useful to our investors as supplemental to our US GAAP financial results, and that there is no confusion regarding the adjustments or our operating performance to our investors due to the comprehensive nature of our disclosures. We have not provided our 2026 outlook for the most directly comparable US GAAP financial measures, as they are not available without unreasonable effort due to the high variability, complexity, and low visibility with respect to certain items, including restructuring charges and credits, gains and losses on foreign currency, and other gains and losses. These items are uncertain, depend on various factors, and could be material to our consolidated results computed in accordance with US GAAP. Non-GAAP performance measures do not have standardized meanings prescribed by US GAAP and therefore may not be comparable to the calculation of similar measures used by other companies and should not be viewed as alternatives to measures of financial results under US GAAP. The adjusted metrics have limitations as analytical tools, and should not be considered in isolation from, or as a substitute for, US GAAP information. It does not purport to represent any similarly titled US GAAP information and is not an indicator of our performance under US GAAP. Non-GAAP financial metrics that we present may not be comparable with similarly titled measures used by others. Investors are cautioned against placing undue reliance on these non-GAAP measures. View source version on Contacts Brian CampbellInvestor Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
H&R Block Transforms Into Digital-First, AI-Powered Customer Care Organization with NiCE CXone Mpower
H&R Block is now well-positioned to scale rapidly during the annual U.S. tax season surge, empowering thousands of agents to deliver seamless support to millions of customers HOBOKEN, N.J., June 16, 2025--(BUSINESS WIRE)--NiCE (Nasdaq: NICE) today announced that H&R Block, the world leader in online and in-office tax preparation, is successfully transforming its customer service operations into a digital-first, AI-powered care organization with NiCE CXone Mpower. This transformation marks a strategic shift from a traditional brick-and-mortar retail servicing model to a digital-first scalable customer care ecosystem built on advanced AI and customer service automation. H&R Block's transformation began with an accelerated 60-day migration to NiCE in 2020, laying a powerful foundation for ongoing innovation, scalability and agility. Building on that momentum, H&R Block partnered with NiCE to rapidly build and deploy a new IVR system at the height of the pandemic – successfully managing over 5 million calls in just four months. This milestone demonstrated the power of taking a platform approach, delivering mission-critical performance at scale when it was needed most. Since then, H&R Block has adopted a strategy of continuous optimization, leveraging CXone Mpower's AI and self-service capabilities including Autopilot, AI-powered coaching, and automation to drive significant outcomes including seven-figure cost savings, enhanced agent performance and customer satisfaction. Each year, H&R Block must scale its support operations rapidly to handle the elevated demands of the U.S. tax season. Today, with CXone Mpower, the company is equipped to turn this annual challenge into a strategic advantage—empowering thousands of agents to provide fast, accurate, and personalized support across voice and digital channels. CXone Mpower also enables H&R Block to extend that same trusted, seamless and knowledgeable experience to self-service, automating everything from simple questions to more complex tax-related inquiries at scale. This shift from reactive support to proactive experience design, lays the foundation for long-term innovation and growth. As H&R Block accelerates its AI roadmap, it now aims to automate additional customer journeys to deliver a faster, smarter, and more connected client service. "Real transformation happens when we invest in our teams, evolve our technology, and rethink how we bring experiences to market, delivering the outcomes our customers demand," said Brendan Mulryan, VP Customer Care at H&R Block. "NiCE has helped us reimagine CX, meeting today's demand for digital self-service while advancing AI and automation. With CXone Mpower, we are focused on delivering a modern customer experience that blends self-serve ease with expert support when needed. Whether in-person or online, this transformation helps us meet customers where they are." "This transformation isn't just a technology story, it's the powerful example of business reinvention built around human experiences," said Barry Cooper, President, CX Division, NiCE. "Our goal is to make every customer interaction effortless, especially during high-stakes periods like tax season. With CXone Mpower, organizations like H&R Block can rapidly scale, empower their agents, and deliver fast, accurate, seamless, and personalized service – even at peak demand – to ensure stress-free, happier moments." About NiCENiCE (NASDAQ: NICE) is transforming the world with AI that puts people first. Our purpose-built AI-powered platforms automate engagements into proactive, safe, intelligent actions, empowering individuals and organizations to innovate and act, from interaction to resolution. Trusted by organizations throughout 150+ countries worldwide, NiCE's platforms are widely adopted across industries connecting people, systems, and workflows to work smarter at scale, elevating performance across the organization, delivering proven measurable outcomes. Trademark Note: NiCE and the NiCE logo are trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking StatementsThis press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Cooper, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the "Company"). In some cases, such forward-looking statements can be identified by terms such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," "estimate," or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in general economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; rapid changes in technology and market requirements; the implementation of AI capabilities in certain products and services, decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or effectively integrating acquired operations; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security incidents; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, including those arising from political instability or armed conflict that may disrupt our business and the global economy; our ability to recruit and retain qualified personnel; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law. View source version on Contacts Corporate Media Christopher Irwin-Dudek, +1 201 561 4442, media@ ET Investors Marty Cohen, +1 551 256 5354, ir@ ETOmri Arens, +972 3 763 0127, ir@ CET Sign in to access your portfolio
