Financial PerformanceThe high-margin Platforms segment continues to be the key to long-term value creation with revenue up 67% year-over-year, including 60% growth in annual recurring revenue, adding 8 net new customers and representing almost two-thirds of gross profits.
Growth PotentialGrowth initiatives include expanded offerings, new AI offerings, and cross-selling, which should lead to Platforms gross margin improvements.
Valuation AdvantageResearch Solutions is trading at 1.7x FY25 revenue versus its direct peer group RELX and CLVT at 5.1x, as the market for research search and management platforms has consolidated.