Q1 revenue declined 4.9% to $85.5M due to lower research subscriptions, partially offset by reprint gains, while operating loss narrowed 78.7% to -$18.6M from a smaller impairment and cost controls, supporting positive cash generation amid facility optimizations.
Key takeaways
Revenue was $85.5M (-4.9%) due to decline in research subscriptions partially offset by reprint revenue increase.
Gross profit was $46.8M (-6.9%) with gross margin of 54.8%.
Operating income was -$18.6M (78.7% improvement) reflecting reduced impairment impact compared to prior year.
Net income was -$21.8M (75.0% improvement) and diluted EPS was -$1.14 (75.3% improvement).
Net cash from operations was $25.6M with free cash flow of $19.4M despite higher capex of $6.2M.
Credit facility amended to extend maturity and reduce size, lowering ongoing costs.