Verisk Analytics Reports Q2 Earnings with Subscription Growth, AI Expansion
Verisk Analytics (NASDAQ:VRSK) reported second-quarter revenue of $806 million, a 4% increase year-over-year. The growth was driven by an 8% rise in subscription revenue, which now accounts for 83% of total revenue. This offset a decline in transactional revenue due to weaker weather activity and softer commercial-property markets. GAAP net income fell 10% to $229 million, while free cash flow surged 58% to $298 million. The company reaffirmed its full-year guidance for revenue between $3.19 billion and $3.24 billion and launched a new share repurchase program worth $200 million. Verisk is expanding AI capabilities with XactAI users increasing nearly tenfold, reaching about 7,000 licensees. The company also acquired McKenzie Intelligence Services to enhance real-time catastrophe analysis.
Tickers: $VRSK
Topics: acquisition ai_initiatives free_cash_flow revenue_growth subscription_revenue