John Wiley & Sons (WLY) reported Q1 FY2025 GAAP revenue of $403.8 million and adjusted EBITDA of $73.1 million, delivering an adjusted EBITDA margin of 18.6%. Despite a GAAP net loss of $1.44 million, adjusted metrics conveyed improving operating profitability as Wiley continues to reaccelerate its two operating segments—Research and Learning—and execute on a two-pronged AI strategy. Revenue rose 3% in Research and 14% in Learning in the quarter, helped by a $17 million contribution from GenAI content rights and a broader AI licensing momentum (a $21 million licensing project, with $17 million recognized in Q1; the remainder to be realized later in the year). Management reaffirmed full-year guidance and stressed ongoing value-creation efforts: completed divestitures, the $130 million run-rate reduction program (with $40 million actionable in Q1 and an expected $120 million realized by end-FY2025, and approximately $60 million of the run-rate savings reinvested annually). Wiley also highlighted an improving culture and rising colleague engagement as a key driver of execution. Looking ahead, Wiley expects 2%-4% revenue growth for the full year, with adjusted EBITDA in the $385–$410 million range (margin 23%–24%), adjusted EPS of $3.25–$3.60, and free cash flow near $125 million. Management emphasized AI-enabled growth as a strategic priority, while continuing to monetize the existing, high-quality content—and to modernize systems to sustain margin expansion.