Ashish Sabadra

are there any particular regions or where you have seen any particular softness or in terms of, again, attach rate or employee penetration

I was wondering if you could share any additional progress on that front

The 5% to 6% guidance for the full-year implies like a material slowdown. Is that just conservatism

Was wondering if you could provide more color on the rollout of dedicated cores as well as talk about the new growth initiatives and new product roadmap within the DataVantage?

how are you thinking about organic investments going forward, but also like inorganic investment broadly outside -- across all the spaces

Maybe just a question on the competitive environment of single stock 0DTE and how that's evolving?

Zero DTE obviously has ramped up significantly from low 20% back in Jan 2022 to now mid-fifties in March of 2025

I was just wondering if you could comment on the price increases for options in 2025. And then just as we think about adoption of greater -- retail adoption of options, how should we think about th...

I just wanted to ask a question on the progress on the Google Cloud migration and if you can quantify the expense in the fourth quarter

How do you think about the puts and takes going forward? And then maybe just on the same topic of energy, how do you think about any updated thoughts on WTI versus Brent

I was just wondering if you could talk more about some of the softness that we saw in the quarter, but also any comments on the trend going forward

Wondering if you could talk about the M&A pipeline, not just for more tuck-in deals, but also larger deals. And would you consider diversifying into newer areas

I just wanted to focus on the four strategic verticals. Healthcare, government, education, and hospitality

I was just curious if there is incremental traction that you're getting for certain products or just improving penetration

I was wondering if you could also talk about Ovivo, how that's tracking compared to your expectation?

I was wondering if you could provide any incremental color on the savings in '26, but also payments from pricing as well as mix shift in '26

I was wondering if you could drill down further about on shifting resources, innovation as well as share gains, how that can help offset some of the end market weakness?

Can you talk about some of the efforts around pest intelligence, how those rollouts are coming together?

I was just wondering, if you could talk about the demand trends there, what you're seeing from a foot traffic perspective

I just wanted to better understand the volume growth expectation as we get into 2025. If you could provide any color by segments as well as any potential impact from tariffs

The CMS recently launched Emmy, an income verification tool.

That's very helpful color. And if I can ask a question around agentic AI, one of the concerns that we've heard is agenti

Thanks so much.

Hi, good morning. This is David on for Ashish. Just following up on the government vertical I was wondering if you could

This is David Paige on for Ashish. I was just wondering maybe you could touch on International.

That's very helpful color. Thank you.

Thanks for taking my question. I I have a two-part question. On the USIS non-mortgage. One was on autos.

Good morning. This is David Paige on for Ashish. I just had a clarifying question on the amended SSA agreement.

Hi, this is David on for Ashish. Thanks for taking our question. Just a follow-up to that last question.

My question was focused on the sales pipeline, demand environment as well as sales cycle, particularly in the context of these geopolitical, evolving geopolitical concerns. Any color that you can p...

how do you think about more 7-figure deals there and as well as ability to add more through improved attach rate at existing clients?

if you could provide some color on the headwinds there, but also how do we think about inflecting the growth for that

if you could provide any color on pricing versus pricing realization for existing deal versus new and renewals? Any color on that front? And then similarly on international, should we expect simila...

as we get into calendar year 2025, any early commentary on how those budgets are shaping up for your customers

what are the key credit risk that they would consider when they are designing these matrices?

what's your pricing strategy over the midterm? Is there still a gap between price and value

I was just wondering if you had some time lines around when they would go live. And then at least when we've done checks with brokers, they are not aware of the performance model as yet

your revenue model is agnostic irrespective of whether the customers adopt performance or per score model. Is that right?

ARR moderated there, but you obviously had a very strong ACV bookings quarter, but as well as the year. How should we think about this ACV starting to convert into ARR

what are the moats around the business and then in the event that if there is a lender's choice for the GSE, could that affect the non-GSE market

opportunities for using FICO Scores at having more use cases for FICO Scores or using it in more places within the processes where it may currently not being used, like, for example, securitization...

There was a comment there during the Q&A about pricing getting feathered in. So, if our understanding is right, there was only a partial benefit of pricing in the quarter

How do we think about the timing of converting some of that ACV. We've seen pretty strong ACV in the first half of '25, the timing of that converting over to ARR

It's good to see that inflection in growth there. I was wondering if you could talk about some of the trends that you're seeing on myFICO

when do we expect that headwind from the lower minimums to come off? Is it mostly 26%?

I was wondering if it's possible to parse what percentage of the energy OI growth over the last several years is driven by commercial customers versus financials

How are the contract minimums on average for Encompass compared to the Mortgage origination levels in 2024

I was wondering if you could provide any color on that front, how is that trending

how do we think about that mix shift going forward and influence on productivity

based on what you've seen in Jan, any thoughts or based on the feedback that you might have received for the sales people, how do you think about the sales environment

have you seen a difference in retention trend or new business growth across any of those tiers

I was just curious if you could provide some more color on the strategic termination and the account loss, which is weighing on the KYC and Insurance

when you reduced that guidance, just given some of the uncertainty, what were the key assumptions that were made in terms of M&A volume

can you talk about the pipeline for Tier 1, Tier 2 clients

Does Nasdaq have aspirations to get into the prediction market as well?

how are the conversations with the bank or your customers in general on the regulatory technology solutions? And then just maybe a follow-up on the CFTC partnership

Anything that you see from a tuck-in perspective? Any color there will be helpful

On ARR versus revenue growth, we saw some differential there in '24, anything to be cognizant of as we get into '25

I was wondering if you could provide some color on the year-on-year growth in Paycor in the quarter.

I was just wondering if you had some initial thoughts on pricing for next year and how does that trend compare to your historical range?

I was just wondering if you can comment on checks per client, how that trended in 4Q, but also what your expectations are for fiscal year '26? And have you seen any impact from some of the things g...

How should we think about the restructuring expenses impacting cash flow next year?

I was just wondering if you could comment on how that's trending on a per worksite employee basis just given the health care inflation?

Are there any puts and takes to be cognizant of as you think about incremental margins in 2026?

have you seen any change from a competitive perspective?

I was just wondering if you could comment on your ability to continue, to drive 3% to 4% price increase in 2025 on the consumer side

how do we think about those investments going into 2025. You've guided to roughly 30% incremental margins, but I was just curious if you could provide some color, on the quarterly cadence

the subscription growth is expected to accelerate in 2Q. I was just wondering if you could unpack that some more

I just wanted to drill down on Market Intelligence, some of the softness that we saw on the volume-driven products. I was wondering if you could provide any incremental color

Can you help us size the EDM and thinkFolio divestiture? But more importantly, I also wanted to follow up on an earlier question regarding MI

on the competitive wins, just wanted to better understand how these competitive displacement driven by also products, if those are resonating much better with customer

the flat issuance assumptions for the back half of the year. Does that include any kind of pulls forward or what are your assumptions around high spreads as well as rate volatility

Margins are now -- the margin guidance are more at the higher end of the midterm guidance and was better than, I think, what we were expecting

there was a comment on strong pricing realization on renewals. I was wondering if you could unpack that further

the difficult comps from hurricanes as we get into the fourth quarter. We estimate that was almost 100 basis points of tailwind last year

Property estimating solution often experienced strength related to extreme event, particularly hurricanes. Does AccuLynx also exhibit similar cyclicality?

I just wanted to focus on the M&A. I wanted to see if there is more opportunities for portfolio rationalization, but also how is the pipeline for M&A and thoughts on M&A?