FactSet Research Systems (FDS) 19 Dec 242025 Q1 Earnings call transcript

Good day, and thank you for standing by. Welcome to the FactSet First Quarter 2025 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Yet He, Interim Head of Investor Relations.

Thank you, and good morning, everyone. Fiscal Earnings First FactSet's to Quarter Call. XXXX Welcome

at to during the call this we our on begin, can will referenced slides the website of our section through Before be presentation available of website. be be Investor Relations A on factset.com. replay the today's webcast found

is will for last X [Operator Instructions] After we call questions to open our prepared from scheduled to the remarks, investors. The call hour.

X, the our of discuss all I explains legal forward-looking notice of results, Slide non-GAAP use review we Before listeners statements on encourage which measures. the risks the to and financial

please and from of actual discussion Additionally, forward-looking our to could to results refer Forms these XX-Q for cause that factors XX-K statements. a materially differ risk

financial Our slide presentation discussions this and non-GAAP measures. on call certain include will

the comparable in directly measures, For release GAAP presentation in to such appendix the earlier our reconciliations are issued and earnings the to measures today. most

During Also, organic in the this compared will of noted, professional respective as nature otherwise XXXX, than fiscal organic the fiscal be and focus performance services note plus recurring changes our reflect FactSet reporting please ASV relative metrics call, revenues. first quarter unless rather XXXX ASV that period. to on this beginning

Goran Helen now Phil Shan, Officer. Revenue me over Executive the Joining Officer; to and today discussion Snow, will Chief Skoko, turn Chief are Officer; Chief Financial I Phil.

XXXX adjusted first Thank of year-over-year, you, fiscal Yet, operating organic We're and of XX.X% diluted solid results. quarter our to adjusted EPS $X.XX. pleased morning, off good delivering everyone. share and margin ASV in with good performance, to operating a start achieving I'm X.X% growing

during first but we by we are macro pressure quarter. saw We of trends the by cost the in with momentum constructive I'm and backdrop we the encouraged faced pipeline. a cautious, dialogue clients are clients continues While seeing and remain to persist, the having building uncertainty

quarter the the year. the the a in reminder, added we is As first seasonally ASV of lowest

full and at expect growth second more measures also ASV it with year of important in holistic to Consistent will Given our we half of is XXXX deals, large guidance, timing progress. be performance fiscal the look as prior half-weighted. our

Before positive those of turning the received. Investor to to you feedback for Day want that our month we I last and results, our joined thank financial

discussed and missed clients we as to supercharge technology financial and those their and For FactSet's end-to-end by trusted workflows. data that strategy delivering it, help innovation intelligence their partner to efficiency

This builds types our technology execute are we the confident strategic There's our our targets but and at to we market-leading we do, franchises the serve and road with on still priorities ability Day. is in Investor underpinned investment direction achieve across to firm product map. by and evolution, you much shared medium-term

solutions XX% remained with and ASV retention at for steady Demand client XX%. retention our over

quarter, wealth user we our to almost XXX,XXX. our grew client X,XXX. over our expansion drove first the And base During within continued to count

our organic region. significant now QX Americas, we by in as Turning ASV performance last lapped a In wealth to the year. X% we grew win

funds softness budgets. asset New in And where wealth, overshadowed business by across across owners. the retention improved areas are clients hedge and managers in accelerated asset quarter was reprioritizing

partnerships with among in asset were Pacific, offset wins seasonal last was partners lower with asset relative clients. maintained and and contribution Data manager hiring retention year we PE/VC, a bracket particularly Improved region. growth. banking banks. X% funds wins by from and hedge the to driver, bulge driven growth solution by global Asia improved retention in X% with experienced in we And owners EMEA, In additional overall

sequentially by a year, ASV subdued users QX over perspective, firm-type After wealth increase strong a adding close to marquee very a count continues X,XXX first more the was mixed. to in From the driven growth were organic quarter. results at our clip, strong accounts. Seat

we we and quarters. us timing next solution to smaller clients continue upsell add continue X-figure of existing confident reaccelerate remain to of with deceleration the pipeline over It's potential giving a that the quarter. see conviction And is set, several within healthy that close, expanding control clients but temporary. opportunities to wealth, this growth will also difficult quarter this deals management wealth to when We large

quarter. growth hiring dealmakers, was In continues growth. to a but line in remains with normalize, Banking last seasonal drag to

our second with we As Creator of Most our in wins of the new formal discussed AI-powered in X Pitch banking our XXXX. traction QX calendar expect to in at our Investor year. offering products already Day, will seeing business notably, add several the gen acceleration client of in conversations ahead launch early the is half

double-digit monitoring led tool. continued acceleration integrated IR and our to PE/VC in ability corporates, early acquisition integrated expand FactSet's Adding Irwin professionals of displacements competitor the of strength saw several in in address the growth Cobalt, November workflow we an to we needs banking, modern by of solution. portfolio to to Outside modern with closed

pipeline have a acquisition users strong already seen from announced. was and We interest have since the Investor increased inbound Relations

highlight a their and side, X-figure The the buy CIO provider our quarter a across the key technology solutions beat outsourced at growth with global life to performance we consistent institutional for where last solutions cycle. maintained seeking and portfolio displaced win, incumbents we For the landmark quarter. stack competitor is overhaul

This and services portfolio win enterprise efficiencies FactSet's model. using deliver underscores clients operating offering to improved with multi-asset effectively an managed to reporting our workflow wide-ranging This includes class deal capabilities also and partner our analytics, performance ability solutions.

their we it reach efficiencies. and to management, continue to small with and consolidation, difficult asset see vendor erosion is pressure firms midsized particularly scale as Within budgets pursue more where clients scrutinize

announced Securities investment data fusion and reporting coupling partnership JPMorgan accounting analytics records portfolio total recently with seeks with solutions of challenge through by platform. performance JPMorgan's book to Services ownership management address and this Our cost FactSet's of

larger CGS solid. well, wins growth issuance retention and an strong contributed accelerating was with perform in the content The increase in Improved by partnerships buoyed market to CGS expansion. growth. and partners to continues

greater strategy insights, high-value on FactSet so and gain against can them drive clients Day, work. as Investor operations As an productivity increasingly they can cost at we we that partner of lower execute focus outlined help are innovation the elevate viewing

our and clients. our are data technology leveraging AI more the harness and power to to gen responsibly of efficiency industry-leading speed, to bring We accuracy

last the on product we enable Intelligent of recently provide actionable assets. our which auditable at across of integrates to leverages FactSet search innovation data content level insights AI knowledge new extensive structured initiative, announced conversational year, series unveiled AI intelligence. Building our refinery in Platform our and to next-generation engine, This the Blueprint platform developments we latest Mercury, conversational and unstructured our

daily clear and to clients workhorse the boost from and they are solutions in not demanding marketing optimize We efficiencies unlock of that hear practical loud They productivity, are promises hype interested our future. workflows. and

throughout rapidly evolving will add that workflow and our AI product capabilities launching to be new the will solutions year gen We set.

year, I'm year. to weighted we back In the pleased similar with half expect the year. of this that growth towards worth reiterating be to summary, the to start last It's

by momentum As budding are we what picking we reset clients through up signs backdrop. may improve as encouraged progress confidence operating head anticipating many of environment that the into I'm as budgets an start XXXX, early of There's the as calendar the in macro improved year.

of greater in sales data A green solution this in PE/VC, pace runs engagement competitor banking, greater hedge in a to strength displacements client examples few few. to name quarter of and include shoots

greater products in resonate many pipeline, forward. robust new on I'm confident clients. that opportunities with visibility innovative path a have some our We larger and

fiscal As such, guidance. we are reaffirming our XXXX

more to quarter performance to detail. first over discuss it turn now Helen will in I our

you, call. all is back with to Phil, again. and on Thank It the everyone great to be hello you

from As market you've with we XXXX operating an morning, environment. our uncertain press seen constructive our performance this began fiscal release and solid but

order are quarter in $X.X is ASV quarter, a we or prior reporting, comparable that increased organic morning's year services to that better this growth lowest. our professional press is million in for X.X% the the QX recurring in longer our reminder nature On ASV no reporting Also, provided in revenues. basis a reflect release. starting this ASV our new of seasonally the of this

revenue increased million, GAAP wealth any to which movements, over increased exchange to X.X% acquisitions by X.X% $XXX the months from For driven owners XX revenue, sales impact the and asset and excludes $XXX foreign institutional managers. dispositions asset firms, Organic million. or both past to quarter,

by revenue and the in X% Americas, segments, in organic geographic X% Pacific. our Asia For in X% grew EMEA

year-over-year expenses intangible amortization Turning now onetime costs. expenses This certain acquisition-related captures to to million, GAAP by increased compensation-related including fees. of X.X% professional the $XXX items, expense. assets, and nonrecurring operating driven

grew which AI. increased On driver, at primary the basis, higher XX% due rate X.X% an same our operating expense generative amortization and as expense year-over-year, use to was investment the software adjusted largely in internal spend revenue. Technology of continued

and As to in technology to we are investing sustained needed market products maintain and future the to Investor growth. drive leadership outlined at Day, committed

costs quarter, XX% technology just X% were to year. For compared last of revenue under the

down costs headcount XXX remain versus Employee prior the expenses held flat. XX% of points at increased revenue, expense year X% largely year-over-year. largest category our People-related our as basis approximately we

our more We increased to investments efficient operations to continue discipline through self-fund operational in priorities and exercise productivity. strategic

than and X% revenue, revenue. of costs to increased year. less the content Real expenses decreased approximately expense and than Third-party X% prior remain less X% basis related now XX estate year-over-year. lower of compared are X% These points facilities year-over-year

please detailed For to to walk more adjusted a in earnings the today's from revenue refer income, operating appendix presentation.

to margin to due items. approximately operating year-over-year XX.X%. was margin to XX.X%, Compared On adjusted the onetime XXX previous largely an flat basis operating GAAP basis, at decreased points QX, by

adjusted basis asset under the on cost due primarily basis, lower increased intangible XX expense, points of was amortization. to just compensation points by percentage on year-over-year basis revenue by basis as a of partially an In services XX quarter, our GAAP approximately lower a and offset

expense approximately On percentage XX GAAP fees. of to higher people than basis, year. XXX prior in basis points on and primarily adjusted basis, SG&A year-over-year higher was an increase SG&A due as was a professional revenue basis an a points

taxes. to now Turning

first was the the tax due rate XX.X% tax XX.X%. of rate tax to effective change. Our a with quarter revaluation in foreign primarily tax compared an of QX to deferred was last asset in This increase associated the the rate year,

compression year increased diluted GAAP $X.XX offset EPS the margin and period, revenue, by quarter this driven rate. $X.XX higher in higher by versus prior Our tax X.X% a to

these $X.XX. or by factors, adjusted increased $X.XX Given same to X.X% EPS

higher a less dispute, was quarter. of the resolution vendor and XX% to increased capital million year, finally, define million the flow, which year-over-year expenditures income This free same $XX capital timing period decreased spending, the we sales in due to by cash compared items. to EBITDA operations cash And largely $XXX driven net of generated tax QX. as higher last X% higher from and during payments add-back to

As quarterly we to are the disciplined XXX,XXX approximately a we we end by repurchase our back an combination share of a returning shareholders remain repurchased of of per $XX million of allocation At capital holders September. discussed $XXX and buybacks record the to shares Today, under stock in share through of Investor we than million had the paid price Directors of average capital for November we of authorization remaining to our as In the quarter, Board capacity XX, at dividend at $XXX $XXX. approach dividends. approved of million more and our $X.XX committed to Day, quarter, share in XXXX.

Also first gross term we in the our X.Xx. to another loan principal $XX.X by quarter, leverage ratio lowering our million, reduced

to the in repaid We full loan expect be the by QX. of term end

Our investment-grade consistent capital remains commitment with to metrics. maintain our allocation

as issued finally, from Phil, And are our guidance. we previously reaffirming you heard

signs While encouraging increased make decisions. observed there's some still willingness purchasing to growing and variability around engagement a budgets, we've client with

to In QX, objectives. we've which in determined order year positive weeks our momentum, of full achieve to the final we experienced maintain are

have steps looking taking business. actions markets as various the to resulted with multiple currently our new firms. pilots to are across being we replicate firm competitiveness are packaging in funds with and PE/VC globally. and tested, providers against types success such And actively different higher in We hedge incumbent These enhance in pricing

our and story gen healthy. pipeline for halves. distinct Our X new the for continue witness setting year to products stage enterprise is we be another And this AI promising sales to solutions, of demand

value. power In in investments, poised clients' the insight FactSet's to our technology and of to shareholder and ability sustainable we data conclusion, long-term financial our enhance confident we workflow deliver significantly. are remain harnessing By

And with that, we questions. Operator? for are your now ready

from with question UBS. the Alex first of Kramm Instructions] [Operator comes line Our

Yes.

and I but feel about so Sorry but shoots both to be X Phil talking short-term second about Helen, and focused talked like green both you're the of you here, the to obviously, optimism halves, quarter.

year. look at slipped little probably I the bit. little than if So last bit XQ, a something saw you softer a Maybe what

there's deal second I quarter. also the coming think a chunkier into

be in the already cadence positioned from be should acceleration second here? we growth shouldn't we quarter? the ASV how So in Or thinking about for

the Thanks, Alex. Appreciate question.

momentum me the script. me So in talked more talk not just And yes, let a about it's about rest bit all talk QX, the of just that but we about year. the the let

that's terms have QX, seeing. we're number that balance, In see a so the going the are visibility momentum say are And the could happy we we're be we I'm big in RFPs moving some to there very any renewals. encouraged new So did in we given far very the or out landed of year, deal of by big I rocks with and would how out. of that

to and More deals. -- half XX X-figure the top I is talked just and makes look of up across firm very year, our strong. continuing of those, types, wealth wealth about deals Out the about for

that So a well-performing with of opportunity. we're very is part business lot our of -- a

good I would seeing, funds. private in venture capital. the in say mentioned, seeing momentum we're hedge momentum that Helen really as also increased equity, We're

Some data by is of that that just driven consuming. they're

potentially XX% business. That's all the within acquisition of Irwin. corporates, But look part to at a markets grow of did then we end year. been this of And always those our good poised

about So those. we're very excited

Pitch more what really of that's using getting bit Creator getting that people going But from AI, And look we're the big in conversations product, are competitors. is honestly, a clients renewal productivity renewals of is from good to sort a hiring our And playing which to current we're still the part, markets. feedback on tool, uncertain exceptional the relative in is it's some banking, the into seeing about around the top middle feedback having year, what really suite of that going like. the Thinking our doing. we're the our

to one about how is Goran last I'll to the that's So compares ask I'll activity talk angle. of year. of sort what and Maybe little do bit that sales a more some now

through last we have think the improvement activity certainly quarter. have I alluded in pipeline to us. very productive particularly gone and as the seen the weeks we Phil So X being for

activity, I in versus QX our gone increase year To And in see year-over-year XX% and a we XX% in up think XX% have this illustrate last in RFPs, trials of the year. increase Europe. Americas

that's the we are quite optimism for the think where the about date. in comes the had of the So we've I optimistic year remainder to and client that interaction us. And for activity

I has talked this with in seen that just CPI terms lower year come we think the is we've than sales about end I'll we'll Yes. this to team on able what as would that be which I've get. Goran increase good down. capture really the and of year difference inflation last Alex, one, this, is work but from already closing But

under pipeline though of amazing side, that's outside buy of our the pressure, most on cost that's And even beginning we half. the though team build the piece hedge a done funds, that that's business enter the stronger to even as second has an job of up

we're So or maybe to optimistic, how months green signs ago. pointing far and compared were so X we feeling X are all

of the from Stifel. comes question next line Our Rosenbaum Shlomo with

of you the company made calculation to but those each use to some to but one kind that you X.X. were get side of there hate my X.X%, and I'm to it that's components that, anyway. like adjustment X.X? going do would sell thing, lower question the Helen, the items on Can side than X.X explain total at I kind Is growth housekeeping buy of being ASV

be Yes. that you understand And bit No. little for do thank why a I that. confusing. might

doesn't in always CGS and because it include all ASV of buy quite past, the both that. So issuance not we side licensing we've into sell included and did But CGS the calculations side and growth in calculations issuance. the of fit

this the points noticed lot growth But of And X.X%. this that get us really ASV some quarter, about a sure result, CGS the a organic contributed there's you XX as issuance. of to to drive I'm helped have quarter. as been It basis issuance rate quite

side was. you're points. strong but another at added So X.X, that side's at how seeing That's where buy X.X, basis it CGS XX that's sell disconnect why

Kelsey Our Autonomous. comes the next from line question of Zhu with

in It and in I key market. to sounds side who driver on updated forward. if thoughts that are like growth buy addressable any a strategy managed this your for services wondering just competitors expand we key could space going market, generally total have be the just was ASV

well. I'll then to Goran ask weigh Kelsey. start, and in Thanks, I'll as

closed So deals deal the managed well. QX are here. bit out-store momentum great good that work CIO some there a as will yes, provider include and that that did year we announced services of for We we've in seen team. quite last a for there some an And

And of the probably sort do I into them. release entered have a saw we think with press you JPMorgan to work for where partnership some

while that's has been that So managed on -- -- though little that even for well that a were there with deal services associated as now. going

see here. do good our we So a And to really suite. is opportunity it product linked

being suite to opened is, the by have cases, that many particularly being we now of applied we've side. analytics the pretty for services -- class. up the in platform, traditionally buy that that's So the And technology fact performance best our served these that's in and And are heavily these leveraged I that's think, solution the some firms.

bit Goran, of there. maybe stop could I'll you terms And opportunity. in a So add more as to else you see what color little

Yes.

a things. So couple I think of

I managed competition, than have that talent I little type In expect can as the different managed clients for that their Phil would bit -- with you have reporting activities. And terms that from risk services-type performance skilled providers. a still think, of reporting we or it's said, highly really help us services

is allowing what their clients, are the cost help we in can providing focus And capabilities activities. higher-value managed sensitive. of and the services the internal are them environment in we providing cost the and clients is them by particularly the ownership to total process of That augmenting on their to affected in where

is there it. there is I because, excited are since have upside no considerable X, managed competition direct size over market to launched quite we X that quarters think So and the the the we don't we frankly, about last services, progress there.

offering, and relatively since was risk this are performance it a attach that we're but rates, quite newer and what And that they're Comment good. we're tracking service and reporting. is now the on

with office, Phil's comment, that in help they're and So been them, especially the what back already middle turning to scale. to clients seeing gain more is us to we've we're to

comes Our from with next Bank. question Deutsche Alwy line Faiza of the

are I sort what exceptional So on gen products your about -- competitors. wanted the feedback getting mentioned AI from to of you folks of and some ask that you're seeing

more give color traction? where board? So curious across more if products a you getting you're bit that the us any around Is maybe that? Are there could specific

for contribution this dimensionalize And maybe incremental color would Is the ASV bit about you to from that more potential Just year? there it a if to think can way there Like us? is be guide? helpful. a

Yes, sure. happy Thanks. to, be Faiza. I'd

So XX on to -- last from think call, the FY we're we I stated expect bps continue in or of our Helen that gen growth of XX AI. expecting to 'XX monetization

to is that But and gave some we you. included obviously potentially it's that. wildcard, we that the could better So guidance degree than do a in

goal -- QX. certainly didn't we number for a a We as huge have

of But So it QX. some more seen QX, have signs. what of are weighted is and we encouraging sort QX to very

we the Mercury FactSet which API to So FactSet or plug essentially conversational and ability was your X last that that spoke we One year, could into that Workstation experience X take the client's a environment. is own you it have if already. about monetized had things you

we a was monetized use that case wealth So year. that last

great getting banking are The products feedback.

and help for Creator, our automates out the the how under. -- number is tough with the that So which really will it And called they're this there kinds now right in hours we really have they're junior about bankers, like news Tombstone putting process. pitch strain creation something them of there's productivity. Creator And things will all further of Pitch

a in a part already released officially be played months, it's coming the but will that in key renewals. few So

there. feedback great So

our I ability shown X from in so ways. have, We to monetize also -- data, some think, AI

which while where had -- we'll workflows. got out close work Commentary, there empower had them was So that, product. after with sold for a which as had up specifically for now will We that building about somebody data we we we small for where QX. program, now. have technology gen previously, spoken commitment partner And our a providers our then AI Portfolio first to to show we a we've we've their AI

pipeline, is we're up now news that very -- the sort got a we've product way. by be the can good question the have and proving the solid So of building is and monetized, we

we at part So into get is it's as now exciting monetizing of scale, which X, it. the these January

So certainly type stuff overall, for of company. great thing build. we very as it's potential. We love the exciting still us a to see a It's

or the that get in we're Of on vehemently to lots already comfortable We quickly ready, out course, not is than is bringing real. this demand. board, types seeing there's thought market real. the solutions news about monetizing of maybe It longer as these some firms as firm others take may and it we're it they but believe

Ashish Our comes line the from RBC. next of question Sabadra with

In -- could we clients But the deprioritizing in 'XX, are remarks, prepared that how those some on get also I wondering any commentary was to reference on budgets. where customers? as a you color as if just budgets there provide your was softness for you front. year early are areas shaping up calendar into

a across Ashish, that little came -- muted for me. I didn't

So asking of types just the the are firm discussions going? how are across budget overall about -- you sort all

right. That's yes. Yes,

Okay. Goran, you please? want do that, address to

Sure.

will clients focus terms will on signs cost not big I think the -- And we continue foreseeable see client Early budgets future. in of the to flat. for are that the remain budgets. change do budget the a

of in investment tools of process. encouraged in of of really their technology and of help terms their terms can new new clients' engagement them and across are transformation in terms implementation We continued that content

quite encouraged we're of all the activity. So by

for said, which And like optimism number conversations rest has more client us the year. for reason of and and increased gives I the significantly, RFPs of think trials productive I

Our next Wurtzel question from line Research. Scott comes the Wolfe with of

housekeeping Just a quick one.

we to this how be helpful. revenue about should for would and the the contribution year think total that from on Just Irwin acquisition

I'll your Scott. question. for Thanks take one, that

impact terms revenues have to acquired going of not material it's themselves. the in So a

it's don't out. call speaking, broadly if So it small, we

it will going line, to not help it's So overall. top our business a material but have the impact corporates on

fiscal acquisition what it be. days, above the now that, we going is between but the just expected add either And year, or to we the we August, of case and was what to on end -- it's our thought and to deliver had early to

line of Silber Our question with Jeffrey comes from Capital BMO next Markets. the

wanted somewhat Is should I for I that of we Should to back quarter. They to slightly the expect first margins guiding continue in for to talk the if margins continue? down. gears correctly, that bit. shift remember were XXXX in about a to to If you're be flattish what margin the are And expect see expect to we something some or that? the year? half to so, compression reasons

Yes. Thanks for that question.

quarter, compared we good costs. saw with this lower So some favorability to people year-over-year

If take year. we actions through did you recall, some the

comparison, that So through. in came

some credits the third-party our in favorable. reaffirmed There's as that second had quarter. expect ramp we've overall. of then, also that some timing in of do we on guidance, But productivity up starting came to was expenses course, we And

We've that we of last call. had investments about bit in in little talked a our start slow

So it takes some time to hire.

cost, people the in we QX. higher So think, be will

our adjustment accrual. in comparison with keep a also year, a last to we bonus then had And mind,

some go be We as that on to as spend comparison. tech infrastructure cloud-related ramping we're going to up there's expenses. well expect So up costs of do in really

the margin at So guidance be closer the would look to I range. of our to HX midpoint

Our Morgan Stanley. of the question Kaplan with from next Toni line comes

out wealth but the again well because because lapping part you to a quarter, pipeline. of a deals, I a win good called wanted specifically around large you look think deceleration I in timing mentioned were at the that maybe but big

about elongated are talk in you like to decision-making seeing I more wealth? was even hoping So

I the competitive environment? it's being But of just Are aggressive? people any market. in particularly get know competitive always seeing been color to a wanted Are there. more you changes sort

mean then about I say sure to Great. and I'll Thanks. this. start, Goran I'm a has lot

large a in mean deal had it -- we QX. I yes. So was very last

anything didn't have that. enough we read doubles or of to more So I sort singles other comments my QX wouldn't in match of than something size that into and

in change see I pretty I see then in made, on. momentum these go so implementation. for the we spoke a already, would long think of back about we here that the the space wealth as shops, timing time it largest you that terms a very be And to I through honestly, we're and snapping shops. levels quickly. at or massive different Toni, not continued takes of seeing At But But see decisions there,

Goran? So

covered well. think I Phil it

I have of think just quarter. similar win this didn't a size really it's we

will We reaccelerate the that are very year. wealth confident for of rest the

management. we We we uptick mentioned competitors. business saw saw in to growth. think wealth successfully I an displace continue seat We new that in But

this growth expansion year. markets. geographic we on as continue focused Switzerland We're to workflow. U.K. particularly see We and And additional penetrate

So very already expecting well year. continuing this for do I think we're we're the about to confident double-digit wealth that very us. growth mentioned Phil And

of Our comes Lau line the Owen next from question with Oppenheimer.

you more pricing that X-figure win? key heard the I that the the for think quarters? away I you do had And win reasons products? landmark strategy Do key expect have coming What more from were a incumbent. or you competitive like wins the in

to Goran one and as ask weigh in. then bit this usual, about a chat I'll little Well,

of And this CIO. of an there's outsourced those limited was yes, a course, So globally. number

were for a So complicated aspects There deal. we was were what them. doing many it to

lot solutions And I of nurturing and our it deal quality of time, partnership. think a over getting just approach and down the fact, you to in And comes line. think, really analytics to this it I spent technology, our Helen, our the

that? add So for would what you

I No, And a that's Yes. was think this. partner ability right. our big of to piece

Phil As they the services aspect, mentioned, wanted. which managed also it's

bear. the here, that so think and were table we able there of number bring partners they I they to open to platform flexibility of really a the the So our connectivity to brought things were -- that

that and help continued we go I to Owen, the helped ones us be So forward. as think, us, has would those

multi-asset our think class I capabilities also played it. into significantly

Manav with from Patnaik line Our Barclays. the next question of comes

you some your I was context tweaking, you suppose, competition. better? I hoping are but the around sounds that could make obviously made on it think the conversions exactly I of what packaging strong, Helen, the pipelines growth remarks versus you are just just just pricing really in elaborate to like

Yes, sure. Thanks that for question.

clearly, a been And competitive products. environment. it's we've So our all improve along, investing to

move point someone pressure. where see where that's it's our they're new usually in you a switching And the most off because displacement, I'll typically costs. example, for driven to So to, price business, part of

we've approach, our where of firms, the what volume. had our of is having private strength the which is the so And types higher product, has certain pricing because And specific markets, of we've targeted that of like very in where we've proactive the result result changed a done improved in cases structure.

price have seen low realization. We

are more a we So being aggressive there. bit

this that's overall, ASV. in particular, increased and And in resulted seeing Americas we're in EMEA. the But in

able solutions So as enterprise And especially And that's pricing our with is has well, where that -- during with being tool. competitive as been a very to and packaging very, been our our we've also. used effective enterprise of leverage along renewals. some

Our of William line with from Blair. comes question Andrew next Nicholas the

wanted to in you greatest does assets at to kind And ask are all? relatedly, it latest does of in inorganic for inform change on that M&A, of of your AI monetization types appetite I the of Or investments there? your conviction terms most action? the appetite and that your attractive

Yes, that's interesting an question.

high appetite So M&A. yes, for have we a

we be I to the firm product execute right and do if types excited in in of think find across our we're a that a to better asset, can gaps position more we'd couple there's suite now, on.

repair that a -- if somebody though, been a good things although at, always do don't we technology we've not modern, Most we of that have of Andrew, AI-related, the to stack, ton were look has at looking work.

will work that in plays folks it. that some into always So often, area. very done And already have

so suite in that many how to we to But empowering far I by trick are our of where think real a far. like AI impact. was other thoughts? any employees, believe And invested we've we've gotten the our so make enough I to so

I that's exactly No, think right.

our ability we've got for we've been we've And a mentioned, very capital. strong in been allocating we how balance sheet. also got deliberate As We've leverage. increased

this year, CapEx the able be internal growth strategy. inorganic on still for gives ample more of to our do builds, example, to us spend but part room help as that will use to We

Our next the question Surinder with comes Thind of LLC. from Jefferies line

year. products I maybe the the And client? base of the to the the on you're touch guess seeing your the of or from is the talk past of of expensive. we of the uplift proposition value seeing the be I'd of you your and that lot terms in some like that to the found Can monetization from tend of terms client about in what over maybe perspective because efficiencies they're AI revenues, of one quite gen where solutions a that things is to savings the offset the AI perspective

I clients easy And especially budgets. or what call a your that earlier credit a overall use tokens of AI the your, lot commentary seeing around budget, in it's their improvement quite to given material your really would not

Yes.

kick here. me off it Let

think I lot to about. there's a talk

about in token, right So And think spikes just we're how you value to do -- are, monetize where not clients get and expense. feel looking do about exposing how think, what definitely of themselves that you to big this and adoption and think just we they're then like getting I proof said I to clients. value like

in a lot we're are So of in deals going the some right of selling dollar there tens hundreds out the thousands, AI that and now hitting of we're not solutions. some are singles here. are There doubles thousands, that multimillion but in

clients' is really saving the So time. proposition value

you to gets did somebody how that. solution an write long take versus excellent, minute would Commentary it versus less you in the benchmark auditable commentary So Portfolio or however the a on

or talked product, their on analyst's terms the it. Creator a Pitch saving arranging just about in It's tens junior models their hours running or charts. building templates we've of already logos of spreadsheets or The of times

So generation important. it the just think that's an which aspect how efficiency. really efficiency there's are is this, to approaching idea But low-hanging fruit force we're brute the we gains. is And

don't on. So you know want Goran to or Helen, I add if

Phil, I think, you well. it covered

in really gains the is efficiency. it think I

month-end just probably to portfolio management clients commentary certainly help their and value. them, in process can deliver and managers the that and finding are imagine the having side time, asset You on

we of to to our subscription lots think basically away. on run the optimize that clients our of will make a not I here, that done costs do lot consumption And pricing side terms have visibility model based is into. sure spoke itself, plus cost In which we the have then about

own But offering. improved really And enhancing their capabilities. productivity solutions, on is the build those we their then value are client really time-to-market that the side we that for are

LLC. Our Research next the from Huber line question Huber of comes Partners, with Craig

Great.

talk year. this pricing, would, for about fiscal you You if

You pricing year won't as it last you What versus talked for last year? year. probably about this expecting realized that be strong as fiscal are

sounds you best quantify you're it to second as revenues as Can you're talking about in like obviously half it the accelerate It's versus just against quite expecting year. could overall as you this -- last? the It's of interesting not year beneficial pricing.

Craig, it's question. that Helen. Thanks for

noted, as yes, X%. off or of CPI Phil higher So the our is based pricing

So CPI being where of front. a that lower it's bit at, it does headwind put a or a on

quite Right last to the the the seeing we're essentially flat still year. But helps. price yes, stronger now, overall pipeline realization

but we're necessarily not an seeing seeing degradation uplift, not either. we're a So

some bit But the actually of where place might business noted in card little that be only more I earlier the is doing a against seeing seeing realization is terms the volume. our we're we're lower, new in and might renewals. we're price Now what where where while rate be case

So of P-times-Q concept. that's sort

Please rate note also we've increased cards. that our

price been percentage able been completely able firmly that gets pretty provide, capture realization bit it value to harder the the little to again So But a year-over-year. overall, to we've track. we've

David from with comes of the question next Motemaden Our line Evercore ISI.

good I retention. was been that. ticked bit the this That XX% little just year. to quarter. around see the It's up XX% had question client past to on a a for It

quarter? seen increase that retention maybe pricing why wasn't we've case that seeing when accelerate. ASV Is just driving the reacceleration unpack what seen to quarter. could the Or and you've ASV dynamic? up, That in was we're Historically, moved the in also retention, that this a you not this that has translate

Just a of couple things.

we our Investor a retention obviously, the spoke improving we're about -- quite seeing think Day. focus I on during bit

to in think focus client-facing help organization on place putting we're I our processes, retention. procedures to

is previously, sign cancels come. think, this And full quarter are than -- encouraged improvement client certainly accelerated rate. client cancels client our fewer that, retention retention. this good We're to what's a of by I which There in the

retention would investment analytics place workstation in say, management putting in of All I and currently for our of the in reflected, we're both our are improvement areas. particular, Americas, in efforts saw We solution. specific retention in

that we not but think along. over better immediate, go results But I we improve the And to will we quarters. coming as continue are we currently, everything on expect focusing do expect retention that

I can Goran add Yes. to what bit just saying. was Maybe little a

Given fair at the have, the number churn, see amount David, and that we clients of bottom. of a we

number X% be retention, more while client higher which impactful the retention, like XX%. above that -- that to is ASV see will be we to change So continues the obviously is

there's part, a lot But it the churn move of rounding make probably just than that numbers to more strong make it's happening, might if a a point. But indicator.

from Wells line question next comes of Jason Haas Fargo. Our the with

that I'm made. a of comments couple trying to reconcile you've

better I to client on and hear optimism But and to think more good you're you be budgets cost-focused. said seeing that remain a engagement some it's still your also that pretty pipeline. expecting So you're customers' flat

gains spending potential you're So implies I more seeing shopping? more clients for wasn't sure share or a situation are where seeing if you're that that time

up budget the following just point. maybe And on

that their expectation to don't given good and generally pretty think up, pick point think clients increase at you M&A performance I why there's back them equity market so? holding we've What's will had doing an this activity budget? from for

comment of too a couple increasing budget. not clients was pessimistic A things. Maybe my bit the about little

about something in think certainly, to banking I spoke that So is the sell-side revenues improvement fees correlation and our activity we banking fees. M&A improved of

year strategy or we can takes our perform of also And the can the improving. well times sure to the and rely in cost-sensitive is hiring improve will then cost-constraint the place. conditions quarter on markets in make much do banking that fourth important that make that some as it's certain really as to think we -- as I the we we through go in macro expect

we So look without difficult provide, if at or as well. tooling, efficiency gen gains the services managed I us AI can helping conditions think market that with help clients all about more of spoke that you the weather services

I increase. -- So And would will indicate certainly the side, budgets, sell on are regardless performing there. that some of improving movement improved well we focused early significant in activity budgets upward of do But on we M&A conditions. see signs the the not see

think what and I budgets even still add flat, it's to Goran just But if the here. relatively to early said, are days

obviously end end calendar talking fiscal or clients up we're their years. with they out -- as So year

the We That's are shift we doing more tech CTOs. having with are budgets. seeing discussions one. And into a in more

changes do the gen whom AI products, that. sales what the that is well us and we're So with helps as with along speaking change

win Goran the us other business. who new looking And having providers around a trials. we That already spoke cases, gain, favorable very who I are. And think, as clients the we in and around market that's to exactly in to, point some point to share puts think spot is, now their higher RFPs are right. that try

line comes Sachs. Tong from of question next Our Goldman George the with

second improvement segments year perhaps show different lesser a across look show going to half the relative As improvement in may you on can your basis, performance? and the most about you which you talk into expect the of client which

some my George, I'll go comments. just back maybe to of earlier

talked about of So and some the I funds. PE/VC hedge

this FactSet, but think strong is very smaller year. showing they're So of parts signs growth I of

or bigger which is The the side rest continue see do we honestly, hedge and space uncertainty bigger, X spoken beyond sorry, wealth of about, more side, funds. we've banking we'll the sell business the have -- well. that The and rest which chunks right, to of feel that buy the

very the of that ASV we revenues you, in to that which generate. a showed and a Day at banks showed graph to I have was think of So lag popular Investor kind the FactSet's how banking, many revenue

there's sell greater through, about and more the more our as of that side. move the and adoption banking we comes optimistic year, through So if activity products hiring, I'm

of management. leveraged side has Again, a our is under buy which the most been for pressure long time active piece business the the to that's

So that's uncertain. more a bit little

As pipeline building year. versus the last gap mentioned team has the a I the done great the and pipeline earlier, job closing we had of

of in those that you stack model. your terms hopefully, in helps ranking So

Stifel. Shlomo from Rosenbaum Our of next question with comes the line

think pickup of the FactSet something a that clients. with you the you weeks that that, in seeing. has I seems product said with that is you in little just be a the last pickup bit decision-making efforts It X ask terms to do do noticeable the the resonating to more? in to wanted about And like specifically you're

right just presidential administrative of just that in or Do or be anything have industry pick to in are the elections after, more you because those address that just with might to be on negative And think its if terms say, you you could to the X seems picks last optimism around own, FactSet positive items. elections, the seem for for seeing can general, things presidential coincidental do weeks let's like up.

reverse order. going I'm Shlomo,

think in be election to speak and going good the terms having excited. I bankers think is So They of behind that the to we activity. it's environment obviously, are -- us, just the M&A for it

us. frees And think on other to stuff, potentially having regulatory there, which out up clients I would time the burden help obviously and less dollars just different do

to address you question? do the Shlomo's maybe Goran, want So rest of

I place of client-facing Shlomo, activities, that have sure think making it, nature. things attribute would increase also I Yes. I put reach that increasing and we're outs part in to we things think -- of

is The -- see optimistic better optimism market optimism there force I me certainly sales I in the around see the certainly in every think more we market. day.

that's So I all it. part of think

a it's So I of combination think things.

the the a rest X We doing of can feeling we market improve are to the our everything that pipeline ago. optimistic as the can And we to much for results more little even months bit certainly than is do and as improve did it year.

Great.

pleased questions we us with such the start 'XX. you In joining Thank all delivered for to today. performance solid Okay. closing, and fiscal great I'm our for

opportunities the market pipeline in us uncertain, year-over-year. of our we're by the largest with having environment of current encouraged conversations to look and on growth I'm accelerate forward robust executing clients remains While to front the

we making we us These is our are well on I'm give strategic outlook. are at deliver proud medium-term already Investor Day. to efforts confidence taking root progress FactSet on outlined the and of positioned priorities that

efforts. want ends with you today's speaking all look world and everyone. the to FactSetters Operator, forward to I their Happy continued thanking quarter. great And holidays, around work We next that again conclude call. the by for

This participation. conference call. today's Thank for your concludes you you. Thank

disconnect. may You now