ENABLING DISCOVERY | POWERING EDUCATION | SHAPING WORKFORCES

First Quarter

Fiscal 2022

Earnings Review

September 2, 2021

SAFE HARBOR STATEMENT

This presentation 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 many 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 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 Company's ability to realize operating savings over time and in fiscal year 2022 in connection with our multi-year Business Optimization Program; (xi) the impact of COVID-19 on our operations, performance, and financial condition; and (xii) 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 any such forward-looking statements to reflect subsequent events or circumstances.

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NON-GAAP MEASURES

In this presentation, management provides the following non-GAAP performance measures:

  • Adjusted Earnings Per Share ("Adjusted EPS");
  • Free Cash Flow less Product Development Spending;
  • Adjusted Contribution to Profit ("Adjusted CTP") and margin;
  • Adjusted EBITDA and margin;
  • Organic revenue; and
  • Results on a constant currency ("CC") basis.

Management believes non-GAAP financial measures, which exclude the impact of restructuring charges and credits and other items, provide supplementary information to support analyzing operating results and earnings and are 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. Results on a constant currency basis removes distortion from the effects of foreign currency movements to provide better comparability of our business trends from period to period applying the same foreign currency exchange rates for the current and equivalent prior period. We have not provided our 2022 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.

Wiley unlocks human potential by powering discovery and learning

First Quarter Summary

Revenue

GAAP EPS

Adj. EPS

Adj. EBITDA

+9%*

-17%

+17%

+12%

$488M

$0.24

$0.54

$95M

*Organic revenue +7%

Consistent strategies and solid execution driving strong revenue growth across all segments

  • Research (+10%)
  • Academic & Professional Learning (+7%)
  • Education Services (+13%)

Strong profit performance driven by Research and Academic & Professional Learning

Long-term trends accelerating in open research, digital education and talent development

Wiley continues to drive impact by enabling discovery, powering career-connected education and shaping workforces

*Organic revenue excludes acquisition and currency impacts

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Q122 Earnings Presentation.pptx

Strong momentum across academic and corporate markets

Q1 Metrics

Enabling Discovery

Powering Education

Shaping Workforces

Open Research Revenue

Digital Courseware Revenue

Talent Development Revenue

+56%

+31%

+34%

Corporate Revenue (Research)

Online Program Enrollment

Professional Learning Revenue

+37%

+9%

+13%

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Q122 Earnings Presentation.pptx

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John Wiley & Sons Inc. published this content on 02 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 September 2021 15:11:03 UTC.