AI Content LicensingProgress on AI content licensing remains limited, with management maintaining a cautious approach to ensure 'fair value exchange,' leaving visibility around timing and economics uncertain relative to peers pursuing earlier agreements.
Growth Deceleration3Q’s slowing momentum carrying over into 4Q results with growth deceleration and some margin pressure.
Revenue Decline3Q25 organic revenue declined -2% YoY, reflecting a 6 ppt deceleration from 2Q25.