John Wiley & Sons, Inc. delivered a structurally mixed QQ1 2026 showing momentum in AI licensing and open access (OA) underpinned by a large recurring revenue base, while facing seasonality headwinds and a temporary mix shift that pressured EBITDA margins. Management reaffirmed full-year guidance as AI adoption accelerates and the company continues to execute on its three-pronged strategy: strengthen research leadership, expand AI-enabled offerings (notably through the Wiley Nexus platform), and improve operating discipline with cost savings ramping in from Q2 onward. The quarter featured a landmark $20 million AI licensing project, of which $16 million was Nexus/partner content, and management emphasized the additive nature of Nexus relative to Wiley’s own content. The company also highlighted strong OA momentum (July opened with record OA submissions) and a robust renewal pipeline, which supports its expectation of low-to-mid single-digit revenue growth and mid-20s EBITDA margins for the full year.