In the first quarter of fiscal 2023, Wiley reported sales of $488 million, flat with the same period last year and up from the past several years (Q1 2021: $431 million; Q1 2020: $423.5 million; Q1 2019: $411 million). Operating loss was $(17) million, compared to a $41 million gain last year. The company also reported a net loss of $(18) million, down from net income of $14 million in 2021. Adjusted EBITDA was $64 million, down (34) percent, “due to investments in Research, higher employee costs, increased T&E spend related to the resumption of in-person activities, and market-related challenges […]
