Wiley delivered a solid Q4 FY2024 in a transitional year, underscoring the company’s progress on execution, cost discipline, and AI-enabled monetization while continuing to reshape its portfolio. Adjusted revenue rose 4% year over year to $441 million in the quarter, driven by Learning and the GenAI content rights program, even as Research experienced timing-related softness from Hindawi integration and a COVID-era research lag. The quarterly adjusted EBITDA margin reached 28.3% (25.6% excluding the AI deal), reflecting continued savings from the value-creation plan and ongoing efficiency initiatives. For the full year, adjusted revenue declined modestly to $1.617 billion and adjusted EBITDA fell 3% to $369 million, with an adjusted EBITDA margin of 22.8%. Free cash flow amounted to $114 million, pressured by restructuring and higher interest as Wiley completes its transformation.