Morningstar ( (MORN) ) just unveiled an announcement.
Morningstar, Inc. has released a report discussing its financial strategies and market performance, addressing investor queries up to August 2, 2024. The report outlines the company’s approach to balancing revenue growth and margin expansion, particularly within its PitchBook product line, which has seen significant revenue and margin increase. It also discusses operating margin volatility and anticipates more stable margins akin to other subscription-based data businesses. The report touches on the impact of the UBS and Credit Suisse merger on revenue, reporting it as non-material, and highlights a strong operating cash flow in Q2 2024, attributing it to higher cash earnings and improved working capital. Additionally, PitchBook’s licensed user growth is credited to legacy client transitions to the platform and new user acquisitions, while the average revenue per license has risen despite fluctuations. The integration of Leveraged Commentary & Data (LCD) onto the PitchBook platform is also emphasized, aiming to retain clients and enhance features for credit market users to ultimately drive growth.
Learn more about MORN stock on TipRanks’ Stock Analysis page.
