Gartner Reports Third Quarter 2026 Financial Results
• Revenues: $1.5 billion, -1.3% as reported; -1.1% FX neutral. Adjusted Revenues: $1.5 billion, +2.4% as reported; +2.6% FX neutral.
• Net income: $214 million, +506% as reported; Adjusted EBITDA excluding divested operation: $364 million, +7.5% as reported, +7.4% FX neutral. • Operating cash flow: $294 million, -1.4%; free cash flow: $275 million, +2.2%.
• Repurchased 0.9 million common shares for $138 million. STAMFORD, Conn., November 3, 2026 — Gartner, Inc. (NYSE: IT) today reported results for the third quarter of 2026 and updated its financial outlook for the full year 2026. Additional information regarding the Company’s results as well as the updated 2026 financial outlook is provided in an earnings supplement available on the Company’s Investor Relations website at https://investor.gartner.com.
Gene Hall, Gartner’s Chairman and Chief Executive Officer, commented, “Contract Value growth accelerated again. Revenues, Adjusted EBITDA excluding divested operation, Adjusted EPS, and free cash flow were ahead of expectations. We repurchased $1.7 billion of stock over the last four quarters, as our capital allocation continues to create value for our shareholders. In addition, we increased our full year Revenues, Adjusted EBITDA excluding divested operation, Adjusted EPS, and free cash flow guidance.”
The Company will host a webcast call at 8:00 a.m. Eastern time on Tuesday, November 3, 2026 to discuss the Company’s financial results. Listeners can access the webcast live at https://edge.media-server.com/mmc/p/atsnrmaw. To participate actively in the live call via dial-in, please register at https://register-conf.media- server.com/register/BId8df90e905ff40f096e3adae88806638. Once registered, participants will receive a dial-in number and a unique PIN to access the call. A replay of the webcast will be available on the Company’s website for approximately 30 days following the call. CONSOLIDATED RESULTS HIGHLIGHTS
• Global Technology Sales Contract Value FX Neutral (GTS CV): $4.0 billion, +0.8% Sequentially, +2.1% YoY • Global Business Sales Contract Value FX Neutral (GBS CV): $1.3 billion, +1.8% Sequentially, +3.7% YoY
Our segment results for the three months ended September 30, 2026 were as follows:
Additional details regarding our segment results can be obtained from the earnings supplement, our quarterly report on Form 10–Q filed with the SEC on November 3, 2026 and our webcast. Certain financial metrics contained in this Press Release are considered non- GAAP financial measures. Definitions of these non-GAAP financial measures are included in this Press Release under “Non-GAAP Financial Measures” and the related reconciliations are under “Supplemental Information — Non-GAAP Reconciliations.” In this Press Release, some totals may not add due to rounding. The percentage changes are based on the unrounded whole number and recalculation based on millions may yield a different result.
Gartner, Inc. (NYSE: IT) delivers actionable, objective business and technology insights that drive smarter decisions and stronger performance on an organization’s mission-critical priorities.
Statements contained in this press release regarding the Company’s growth and prospects, projected financial results, long-term objectives, and all other statements in this release other than recitation of historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, estimates, uncertainties and other factors that may cause actual results to be materially different. Such factors include, but are not limited to, the following: our ability to maintain and expand our products and services; our ability to keep pace with technological and industry developments in artificial intelligence (“AI”) and comply with evolving AI regulations; our ability to achieve continued customer renewals and achieve new contract value, backlog and deferred revenue growth in light of competitive pressures; our ability to grow or sustain revenue from individual customers; our ability to expand or retain our customer base; our ability to carry out our strategic initiatives and manage associated costs; the timing of conferences and meetings, in particular our Gartner Symposium/Xpo series; our ability to achieve and effectively manage growth, including our ability to integrate our acquisitions and consummate and integrate future acquisitions; our ability to attract and retain a professional staff of analysts and consultants as well as experienced sales personnel upon whom we are dependent, especially in light of labor competition; our ability to successfully compete with existing competitors and potential new competitors; our ability to enforce and protect our intellectual property rights; the impact of cybersecurity incidents or other disruptions to our information systems; our ability to pay our debt obligations; the impact of global economic and geopolitical conditions, including inflation (and related monetary policy by governments in response to inflation) and recession; uncertain effects, both direct and indirect, of changes and volatility in tariffs and trade policies; risks associated with the creditworthiness, budget cuts, priorities and shutdown of governments and agencies; additional risks associated with international operations, including foreign currency fluctuations; the impact on our business resulting from changes in international conditions, including those resulting from tensions in the Middle East, the war in Ukraine and current and future sanctions imposed by governments or other authorities; the impact of restructuring and other charges on our businesses and operations; our ability to meet sustainability commitments and comply with applicable regulatory requirements, as well as potential reactions by customers to these commitments; the impact of changes in tax policy (including global minimum tax legislation) and heightened scrutiny from various taxing authorities globally; changes to laws and regulations; and other risks and uncertainties described under “Risk Factors” in our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, which can be found on Gartner’s website at https://investor.gartner.com and the SEC’s website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and Gartner disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law. 3
Certain financial measures used in this Press Release are not defined by U.S. generally accepted accounting principles (“GAAP”) and as such are considered non-GAAP financial measures. We provide these measures to enhance the user’s overall understanding of the Company’s current financial performance and the Company’s prospects for the future. Investors are cautioned that these non-GAAP financial measures may not be defined in the same manner by other companies and, as a result, may not be comparable to other similarly titled measures used by other companies. Also, these non-GAAP financial measures should not be construed as alternatives, or superior, to other measures determined in accordance with GAAP. The non-GAAP financial measures used in this Press Release are defined below.
: Represents GAAP revenues less revenues from our Digital Markets divested operation. We believe Adjusted Revenues is an important measure of our recurring operations as it provides a more accurate period-over-period comparison of trends in revenues.
: Represents GAAP net income (loss) adjusted for: (i) interest expense, net; (ii) tax provision (benefit); (iii) other (income) expense, net; (iv) stock- based compensation expense; (v) depreciation, amortization, and accretion; (vi) goodwill impairment and other asset impairments, as applicable; (vii) workforce reduction expenses and certain other non-recurring items; and (viii) gain/loss on divestitures, as applicable. Adjusted EBITDA Margin represents Adjusted EBITDA divided by GAAP Revenue. We believe Adjusted EBITDA and Adjusted EBITDA Margin are important measures of our recurring operations as they exclude items not representative of our core operating results.
Adjusted EBITDA Excluding Divested Operation and Adjusted EBITDA Margin Excluding Divested Operation : Represents Adjusted EBITDA as defined above less EBITDA from our Digital Markets divested operation. Adjusted EBITDA Margin Excluding Divested Operation represents Adjusted EBITDA Excluding Divested Operation divided by Adjusted Revenue. We believe Adjusted EBITDA Excluding Divested Operation and Adjusted EBITDA Margin Excluding Divested Operation are important measures of our recurring operations as they provide a more accurate and consistent period-over-period comparison of our results.
: Represents GAAP net income (loss) and diluted net income (loss) per share adjusted for the impact of certain items directly related to acquisitions and other non-recurring items. These adjustments include (on a per share basis, in the case of Adjusted EPS): (i) the amortization of acquired intangibles*; (ii) workforce reduction expenses and other non-recurring items; (iii) the non-cash (gain) loss on de-designated interest rate swaps, as applicable; (iv) goodwill impairment and other asset impairments, as applicable; (v) gain/loss on divestitures, as applicable. and (vi) the related tax impact. We believe Adjusted Net Income and Adjusted EPS are important measures of our recurring operations as they exclude items that may not be indicative of our core operating results.
* The Company excludes amortization of acquired intangibles because it is generally a fixed non-cash expense that can be significantly impacted by the timing and/or size of acquisitions and management does not use it to evaluate core operating results. Although the Company excludes the amortization of acquired intangibles from Adjusted Net Income and Adjusted EPS, management believes that it is important for investors to understand that such intangible assets were recorded as part of acquisition accounting and contribute to revenue generation.
: Represents cash provided by operating activities determined in accordance with GAAP less payments for capital expenditures. We believe Free Cash Flow is an important measure of the recurring cash generated by the Company’s core operations that may be available to be used to repay debt obligations, repurchase our stock, invest in future growth through new business development activities, or make acquisitions.
: We provide foreign currency neutral dollar amounts and percentages for our contract values, revenues, certain expenses, and other metrics. These foreign currency neutral dollar amounts and percentages eliminate the effects of exchange rate fluctuations and thus provide a more accurate and meaningful trend in the underlying data being measured. We calculate foreign currency neutral dollar amounts by converting the underlying amounts in local currency for different periods into U.S. dollars by applying the same foreign exchange rates to all periods presented.
SUPPLEMENTAL INFORMATION - NON-GAAP RECONCILIATIONS 4 The tables below provide reconciliations of certain Non-GAAP financial measures used in this Press Release with the most directly comparable GAAP measure. See “Non-GAAP Financial Measures” above for definitions of these measures.
Reconciliation - GAAP Net Income to Adjusted EBITDA Excluding Divested Operation
Three Months (Unaudited; $ in Ended September millions) 30, 2026 2025 ────────────────────────────────────────────────────────────────────────────── GAAP net income $ 214 $ 35 Interest 24 16 expense, net Other expense, 2 1 net Tax provision 41 34 Operating income 281 86 Adjustments: Stock-based compensation 38 31 expense(a) Depreciation, amortization and 45 51 accretion(b) Goodwill and other asset — 154 impairments(c) Workforce reduction expenses and 1 25 other non-recurring items(d) Adjusted EBITDA $ 364 $ 347 Less: Divested operation — -8 adjusted EBITDA(e) Adjusted EBITDA excluding $ 364 $ 339 divested operation Consists of costs (a) for stock-based compensation awards. Includes depreciation expense, (b) amortization of intangibles and accretion on asset retirement obligations. Includes $150M of goodwill impairment related to Digital Markets in 2025 in (c) addition to impairment loss for lease related assets, net of a reduction in lease liabilities. Consists of workforce reduction expenses, direct and incremental expenses related (d) to acquisitions and divestitures, facility-related exit costs and other non-recurring items, if applicable. Divested operation adjusted EBITDA is calculated as divested operation contribution minus certain direct Selling, General, (e) and Administrative expenses. It excludes allocations for corporate support services and other indirect costs that benefited the business.
5 Reconciliation - GAAP Net Income and GAAP Net Income per Diluted Share to Adjusted Net Income and Adjusted EPS
(Un… Three $ in Mont… mil… Ended exc… Sept… per 30, sha… 2026 Per 2025 Per amo… Amou… Sha… Amo… Share ────────────────────────────────────────────────────────────────────────────── GAAP net inc… and GAAP $ 214 $ 3.35 $ 35 $ 0.47 net inc… per dil… sha… Acq… and oth… adj… Amo… of 20 0.31 20 0.27 acq… int… Wor… red… exp… and 2 0.03 26 0.34 oth… non… ite… Gain from sale -1 -0.02 — — of div… ope… Goo… and oth… — — 154 2.06 ass… imp… Tax imp… -6 -0.09 -28 -0.… of adj… Adj… net inc… $ 230 $ 3.59 $ 207 $ 2.76 and Adj… EPS… Cons… of non-… (a) amor… from acqu… inta… Cons… of work… redu… expe… dire… and incr… expe… rela… to (b) acqu… and dive… faci… exit costs and other non-… item… if appl… Incl… the amor… of defe… fina… fees, which are reco… in (c) Inte… expe… net in the Comp… acco… Cond… Cons… Stat… of Oper… Cons… of an adju… to the gain from (d) the Febr… 2026 sale of our dive… oper… Incl… $150M of good… impa… rela… to Digi… Mark… in 2025 in (e) addi… to impa… loss for lease rela… asse… net of a redu… in lease liab… The blen… effe… tax rates on the adju… were appr… 26.6% (f) and 14.2% for the three mont… ended Sept… 30, 2026 and 2025, resp… Adju… EPS was calc… based on 63.9 mill… and 75.0 mill… (g) dilu… shar… for the three mont… ended Sept… 30, 2026 and 2025, resp…
Three Months Ended September 30, Revenues: 2026 2025 ────────────────────────────────────────────────────────────────────────────── Insights $ 1,292.4 $ 1,270.7 Conferences 86.0 74.6 Consulting 126.4 123.6 Other — 55.2 Total revenues 1,504.8 1,524.1 Costs and expenses: Cost of services and product 433.2 474.2 development Selling, general and 746.8 762.6 administrative Depreciation 25.1 30.7 Amortization of intangibles 20.0 20.2 Goodwill impairment — 150.0 Gain from sale of divested -1.4 — operation Total costs and expenses 1,223.7 1,437.7 Operating income 281.1 86.4 Interest expense, net -23.6 -16.3 Other expense, net -1.8 -0.6 Income before income taxes 255.7 69.5 Provision for income taxes 41.3 34.1 Net income $ 214.4 $ 35.4 Net income per share: Basic $ 3.36 $ 0.47 Diluted $ 3.35 $ 0.47 Weighted average shares outstanding: Basic 63.8 74.9 Diluted 63.9 75.0
Full text with the tables
EXHIBIT 99.1
Gartner Press Release
Gartner Reports Third Quarter 2026 Financial Results
Diluted EPS: $3.35, +613%; Adjusted EPS: $3.59, +30.1%
Contract Value, FX Neutral: $5.3 billion, +1.1% Sequentially, +2.5% YoY
THIRD QUARTER 2026 HIGHLIGHTS
• Revenues: $1.5 billion, -1.3% as reported; -1.1% FX neutral. Adjusted
Revenues: $1.5 billion, +2.4% as reported; +2.6% FX neutral.
• Net income: $214 million, +506% as reported; Adjusted EBITDA excluding
divested operation: $364 million, +7.5% as reported, +7.4% FX neutral.
• Operating cash flow: $294 million, -1.4%; free cash flow: $275 million, +2.2%.
• Repurchased 0.9 million common shares for $138 million.
STAMFORD, Conn., November 3, 2026 — Gartner, Inc. (NYSE: IT) today reported
results for the third quarter of 2026 and updated its financial outlook for the
full year 2026. Additional information regarding the Company’s results as well
as the updated 2026 financial outlook is provided in an earnings supplement
available on the Company’s Investor Relations website at
https://investor.gartner.com.
Gene Hall, Gartner’s Chairman and Chief Executive Officer, commented, “Contract
Value growth accelerated again. Revenues, Adjusted EBITDA excluding divested
operation, Adjusted EPS, and free cash flow were ahead of expectations. We
repurchased $1.7 billion of stock over the last four quarters, as our capital
allocation continues to create value for our shareholders. In addition, we
increased our full year Revenues, Adjusted EBITDA excluding divested operation,
Adjusted EPS, and free cash flow guidance.”
CONFERENCE CALL INFORMATION
The Company will host a webcast call at 8:00 a.m. Eastern time on Tuesday,
November 3, 2026 to discuss the Company’s financial results. Listeners can
access the webcast live at https://edge.media-server.com/mmc/p/atsnrmaw. To
participate actively in the live call via dial-in, please register at
https://register-conf.media-
server.com/register/BId8df90e905ff40f096e3adae88806638. Once registered,
participants will receive a dial-in number and a unique PIN to access the call.
A replay of the webcast will be available on the Company’s website for
approximately 30 days following the call.
CONSOLIDATED RESULTS HIGHLIGHTS
(Una…
$ in
mill…
exce… Three
per Months
share Ended
amou… Septe… Inc/(…
GAAP 30, FX
Metr… 2026 2025 Inc/… Neutr…
──────────────────────────────────────────────────────────────────────────────
Reve… $ 1,505 $ 1,524 -1.3 % -1.1 %
Net 214 35 506.4 % na
inco…
Dilu… 3.35 0.47 612.8 % na
EPS
Oper…
cash 294 299 -1.4 % na
flow
Non-GAAP Metrics:
──────────────────────────────────────────────────────────────────────────────
Adjusted revenues $ 1,505 $ 1,469 2.4 % 2.6 %
Adjusted EBITDA excluding
divested 364 339 7.5 % 7.4 %
operation
Adjusted EPS 3.59 2.76 30.1 % na
Free cash flow 275 269 2.2 % na
na=not available.
1
CONTRACT VALUE HIGHLIGHTS
• Global Technology Sales Contract Value FX Neutral (GTS CV): $4.0 billion,
+0.8% Sequentially, +2.1% YoY
• Global Business Sales Contract Value FX Neutral (GBS CV): $1.3 billion, +1.8%
Sequentially, +3.7% YoY
SEGMENT RESULTS HIGHLIGHTS
Our segment results for the three months ended September 30, 2026 were as
follows:
(Unaudit…
$ in
millions) Insights Conferenc… Consulti…
──────────────────────────────────────────────────────────────────────────────
Revenues $ 1,292 $ 86 $ 126
Inc/(Dec) 1.7 % 15.4 % 2.3 %
Inc/(Dec)
- FX 1.8 % 15.3 % 3.0 %
neutral
Gross $ 1,003 $ 30 $ 43
contribu…
Inc/(Dec) 2.9 % 9.8 % 21.3 %
Contribu… 77.6 % 34.9 % 33.8 %
margin
Additional details regarding our segment results can be obtained from the
earnings supplement, our quarterly report on Form 10–Q filed with the SEC on
November 3, 2026 and our webcast.
Certain financial metrics contained in this Press Release are considered non-
GAAP financial measures. Definitions of these non-GAAP financial measures are
included in this Press Release under “Non-GAAP Financial Measures” and the
related reconciliations are under “Supplemental Information — Non-GAAP
Reconciliations.” In this Press Release, some totals may not add due to
rounding. The percentage changes are based on the unrounded whole number and
recalculation based on millions may yield a different result.
ABOUT GARTNER
Gartner, Inc. (NYSE: IT) delivers actionable, objective business and technology
insights that drive smarter decisions and stronger performance on an
organization’s mission-critical priorities.
CONTACTS
David Cohen
SVP, Investor Relations, Gartner
+1 203.316.6631
investor.relations@gartner.com
2
FORWARD-LOOKING STATEMENTS
Statements contained in this press release regarding the Company’s growth and
prospects, projected financial results, long-term objectives, and all other
statements in this release other than recitation of historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. Such forward-looking statements involve known and unknown risks,
estimates, uncertainties and other factors that may cause actual results to be
materially different. Such factors include, but are not limited to, the
following: our ability to maintain and expand our products and services; our
ability to keep pace with technological and industry developments in artificial
intelligence (“AI”) and comply with evolving AI regulations; our ability to
achieve continued customer renewals and achieve new contract value, backlog and
deferred revenue growth in light of competitive pressures; our ability to grow
or sustain revenue from individual customers; our ability to expand or retain
our customer base; our ability to carry out our strategic initiatives and manage
associated costs; the timing of conferences and meetings, in particular our
Gartner Symposium/Xpo series; our ability to achieve and effectively manage
growth, including our ability to integrate our acquisitions and consummate and
integrate future acquisitions; our ability to attract and retain a professional
staff of analysts and consultants as well as experienced sales personnel upon
whom we are dependent, especially in light of labor competition; our ability to
successfully compete with existing competitors and potential new competitors;
our ability to enforce and protect our intellectual property rights; the impact
of cybersecurity incidents or other disruptions to our information systems; our
ability to pay our debt obligations; the impact of global economic and
geopolitical conditions, including inflation (and related monetary policy by
governments in response to inflation) and recession; uncertain effects, both
direct and indirect, of changes and volatility in tariffs and trade policies;
risks associated with the creditworthiness, budget cuts, priorities and shutdown
of governments and agencies; additional risks associated with international
operations, including foreign currency fluctuations; the impact on our business
resulting from changes in international conditions, including those resulting
from tensions in the Middle East, the war in Ukraine and current and future
sanctions imposed by governments or other authorities; the impact of
restructuring and other charges on our businesses and operations; our ability to
meet sustainability commitments and comply with applicable regulatory
requirements, as well as potential reactions by customers to these commitments;
the impact of changes in tax policy (including global minimum tax legislation)
and heightened scrutiny from various taxing authorities globally; changes to
laws and regulations; and other risks and uncertainties described under “Risk
Factors” in our most recent Annual Report on Form 10-K, Quarterly Reports on
Form 10-Q and Current Reports on Form 8-K, which can be found on Gartner’s
website at https://investor.gartner.com and the SEC’s website at www.sec.gov.
Forward-looking statements included herein speak only as of the date hereof and
Gartner disclaims any obligation to revise or update such statements to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events or circumstances, except as required by applicable law.
3
NON-GAAP FINANCIAL MEASURES
Certain financial measures used in this Press Release are not defined by U.S.
generally accepted accounting principles (“GAAP”) and as such are considered
non-GAAP financial measures. We provide these measures to enhance the user’s
overall understanding of the Company’s current financial performance and the
Company’s prospects for the future. Investors are cautioned that these non-GAAP
financial measures may not be defined in the same manner by other companies and,
as a result, may not be comparable to other similarly titled measures used by
other companies. Also, these non-GAAP financial measures should not be construed
as alternatives, or superior, to other measures determined in accordance with
GAAP. The non-GAAP financial measures used in this Press Release are defined
below.
Adjusted Revenues
: Represents GAAP revenues less revenues from our Digital Markets divested
operation. We believe Adjusted Revenues is an important measure of our recurring
operations as it provides a more accurate period-over-period comparison of
trends in revenues.
Adjusted EBITDA and Adjusted EBITDA Margin
: Represents GAAP net income (loss) adjusted for: (i) interest expense, net;
(ii) tax provision (benefit); (iii) other (income) expense, net; (iv) stock-
based compensation expense; (v) depreciation, amortization, and accretion; (vi)
goodwill impairment and other asset impairments, as applicable; (vii) workforce
reduction expenses and certain other non-recurring items; and (viii) gain/loss
on divestitures, as applicable. Adjusted EBITDA Margin represents Adjusted
EBITDA divided by GAAP Revenue. We believe Adjusted EBITDA and Adjusted EBITDA
Margin are important measures of our recurring operations as they exclude items
not representative of our core operating results.
Adjusted EBITDA Excluding Divested Operation and Adjusted EBITDA Margin
Excluding Divested Operation : Represents Adjusted EBITDA as defined above less
EBITDA from our Digital Markets divested operation. Adjusted EBITDA Margin
Excluding Divested Operation represents Adjusted EBITDA Excluding Divested
Operation divided by Adjusted Revenue. We believe Adjusted EBITDA Excluding
Divested Operation and Adjusted EBITDA Margin Excluding Divested Operation are
important measures of our recurring operations as they provide a more accurate
and consistent period-over-period comparison of our results.
Adjusted Net Income and Adjusted EPS
: Represents GAAP net income (loss) and diluted net income (loss) per share
adjusted for the impact of certain items directly related to acquisitions and
other non-recurring items. These adjustments include (on a per share basis, in
the case of Adjusted EPS): (i) the amortization of acquired intangibles*; (ii)
workforce reduction expenses and other non-recurring items; (iii) the non-cash
(gain) loss on de-designated interest rate swaps, as applicable; (iv) goodwill
impairment and other asset impairments, as applicable; (v) gain/loss on
divestitures, as applicable. and (vi) the related tax impact. We believe
Adjusted Net Income and Adjusted EPS are important measures of our recurring
operations as they exclude items that may not be indicative of our core
operating results.
* The Company excludes amortization of acquired intangibles because it is
generally a fixed non-cash expense that can be significantly impacted by the
timing and/or size of acquisitions and management does not use it to evaluate
core operating results. Although the Company excludes the amortization of
acquired intangibles from Adjusted Net Income and Adjusted EPS, management
believes that it is important for investors to understand that such intangible
assets were recorded as part of acquisition accounting and contribute to revenue
generation.
Free Cash Flow
: Represents cash provided by operating activities determined in accordance with
GAAP less payments for capital expenditures. We believe Free Cash Flow is an
important measure of the recurring cash generated by the Company’s core
operations that may be available to be used to repay debt obligations,
repurchase our stock, invest in future growth through new business development
activities, or make acquisitions.
Foreign Currency Neutral (FX Neutral)
: We provide foreign currency neutral dollar amounts and percentages for our
contract values, revenues, certain expenses, and other metrics. These foreign
currency neutral dollar amounts and percentages eliminate the effects of
exchange rate fluctuations and thus provide a more accurate and meaningful trend
in the underlying data being measured. We calculate foreign currency neutral
dollar amounts by converting the underlying amounts in local currency for
different periods into U.S. dollars by applying the same foreign exchange rates
to all periods presented.
SUPPLEMENTAL INFORMATION - NON-GAAP RECONCILIATIONS
4
The tables below provide reconciliations of certain Non-GAAP financial measures
used in this Press Release with the most directly comparable GAAP measure. See
“Non-GAAP Financial Measures” above for definitions of these measures.
Reconciliation - GAAP Revenues to Adjusted Revenues
Three Months Ended
(Unaudited; $ in millions) September 30, 2026 2025
────────────────────────────────────────────────────────────────────────────
Total revenues $ 1,505 $ 1,524
Less: Divested operation revenues — -55
Adjusted revenues $ 1,505 $ 1,469
Reconciliation - GAAP Net Income to Adjusted EBITDA Excluding Divested Operation
Three Months
(Unaudited; $ in Ended September
millions) 30, 2026 2025
──────────────────────────────────────────────────────────────────────────────
GAAP net income $ 214 $ 35
Interest 24 16
expense, net
Other expense, 2 1
net
Tax provision 41 34
Operating income 281 86
Adjustments:
Stock-based
compensation 38 31
expense(a)
Depreciation,
amortization and 45 51
accretion(b)
Goodwill and
other asset — 154
impairments(c)
Workforce
reduction
expenses and 1 25
other
non-recurring
items(d)
Adjusted EBITDA $ 364 $ 347
Less: Divested
operation — -8
adjusted
EBITDA(e)
Adjusted EBITDA
excluding $ 364 $ 339
divested
operation
Consists of costs
(a) for stock-based
compensation
awards.
Includes
depreciation
expense,
(b) amortization of
intangibles and
accretion on asset
retirement
obligations.
Includes $150M of
goodwill
impairment related
to Digital Markets
in 2025 in
(c) addition to
impairment loss
for lease related
assets, net of a
reduction in lease
liabilities.
Consists of
workforce
reduction
expenses, direct
and incremental
expenses related
(d) to acquisitions
and divestitures,
facility-related
exit costs and
other
non-recurring
items, if
applicable.
Divested operation
adjusted EBITDA is
calculated as
divested operation
contribution minus
certain direct
Selling, General,
(e) and Administrative
expenses. It
excludes
allocations for
corporate support
services and other
indirect costs
that benefited the
business.
5
Reconciliation - GAAP Net Income and GAAP Net Income per Diluted Share to
Adjusted Net Income and Adjusted EPS
(Un… Three
$ in Mont…
mil… Ended
exc… Sept…
per 30,
sha… 2026 Per 2025 Per
amo… Amou… Sha… Amo… Share
──────────────────────────────────────────────────────────────────────────────
GAAP
net
inc…
and
GAAP $ 214 $ 3.35 $ 35 $ 0.47
net
inc…
per
dil…
sha…
Acq…
and
oth…
adj…
Amo…
of 20 0.31 20 0.27
acq…
int…
Wor…
red…
exp…
and 2 0.03 26 0.34
oth…
non…
ite…
Gain
from
sale -1 -0.02 — —
of
div…
ope…
Goo…
and
oth… — — 154 2.06
ass…
imp…
Tax
imp… -6 -0.09 -28 -0.…
of
adj…
Adj…
net
inc… $ 230 $ 3.59 $ 207 $ 2.76
and
Adj…
EPS…
Cons…
of
non-…
(a) amor…
from
acqu…
inta…
Cons…
of
work…
redu…
expe…
dire…
and
incr…
expe…
rela…
to
(b) acqu…
and
dive…
faci…
exit
costs
and
other
non-…
item…
if
appl…
Incl…
the
amor…
of
defe…
fina…
fees,
which
are
reco…
in
(c) Inte…
expe…
net
in
the
Comp…
acco…
Cond…
Cons…
Stat…
of
Oper…
Cons…
of an
adju…
to
the
gain
from
(d) the
Febr…
2026
sale
of
our
dive…
oper…
Incl…
$150M
of
good…
impa…
rela…
to
Digi…
Mark…
in
2025
in
(e) addi…
to
impa…
loss
for
lease
rela…
asse…
net
of a
redu…
in
lease
liab…
The
blen…
effe…
tax
rates
on
the
adju…
were
appr…
26.6%
(f) and
14.2%
for
the
three
mont…
ended
Sept…
30,
2026
and
2025,
resp…
Adju…
EPS
was
calc…
based
on
63.9
mill…
and
75.0
mill…
(g) dilu…
shar…
for
the
three
mont…
ended
Sept…
30,
2026
and
2025,
resp…
Reconciliation - GAAP Cash Provided by Operating Activities to Free Cash Flow
Three Months Ended
(Unaudited; $ in millions) September 30, 2026 2025
───────────────────────────────────────────────────────────────────────────
GAAP cash provided by operating $ 294 $ 299
activities
Cash paid for capital expenditures -19 -29
Free Cash Flow $ 275 $ 269
6
GARTNER, INC.
Condensed Consolidated Statements of Operations
(Unaudited; in millions, except per share data)
Three Months Ended
September 30,
Revenues: 2026 2025
──────────────────────────────────────────────────────────────────────────────
Insights $ 1,292.4 $ 1,270.7
Conferences 86.0 74.6
Consulting 126.4 123.6
Other — 55.2
Total revenues 1,504.8 1,524.1
Costs and expenses:
Cost of services and product 433.2 474.2
development
Selling, general and 746.8 762.6
administrative
Depreciation 25.1 30.7
Amortization of intangibles 20.0 20.2
Goodwill impairment — 150.0
Gain from sale of divested -1.4 —
operation
Total costs and expenses 1,223.7 1,437.7
Operating income 281.1 86.4
Interest expense, net -23.6 -16.3
Other expense, net -1.8 -0.6
Income before income taxes 255.7 69.5
Provision for income taxes 41.3 34.1
Net income $ 214.4 $ 35.4
Net income per share:
Basic $ 3.36 $ 0.47
Diluted $ 3.35 $ 0.47
Weighted average shares
outstanding:
Basic 63.8 74.9
Diluted 63.9 75.0
Source: Gartner, Inc.
Gartner-IR
7