Toni Kaplan

Where do you see the next like step-up of growth coming from? Is it from the key verticals? Is it from new geographies, new products

In light of all the news on visa requirements, are you expecting any impact from changes to impact your customers' hiring

Should we expect a similar level of investment throughout the year that would be really helpful to understand how SG&A, in particular, should continue to progress

have you seen that historically and just maybe an update on outsourcing and how that's been trending over the last, call it, few months

I was hoping you could give us an update on cross-selling, how many products on average each customer is purchasing, how that's trended

should we expect those to be sustainable? How big were those benefits? And maybe just in general, like the margins were very good

when you think about how fast that line of business should grow over time. How should we be thinking about that

I wanted to go back to CMS and basically, when you think about competition, we saw an article a couple of months ago abo

Thanks so much. And thanks for all the information around the FICO impacts and spelling out the different scenarios in t

Great. And looking at government, I think there's a big opportunity there with OV3 and this year as well as next year.

Wanted to start on Government, very helpful commentary about the error rates and the ramp-up that you're seeing in discu

Perfect. And wanted to ask also, John, about the EBITDA margin raised to revenue, but lowered EBITDA touch on the margin

Thanks so much. Was hoping you could talk about VantageScore and what you're expecting in terms of price competition in

I wanted to ask a follow-up on Government. Just to confirm, I wanted to make sure the low double-digit in Government is

Okay. Fantastic. And then I think that's better than expected.

Thanks so much. Maybe first on just USIS 2% non-mortgage growth versus last quarter of up 5, just wanted to hear about a

Great. And then on my follow-up, I did want to ask about the government opportunity.

The organic ASV growth has been accelerating for the past three quarters and is better than I was expecting in this quarter. And so just based on the guide, it looks like you're expecting it to dec...

On the signed deals, are these customers who already said that want to adopt Pitch Creator? Or are these new banks that want to have sort of a full FactSet product and are adopting -- and Pitch Cre...

are you seeing even more elongated decision-making in wealth? Are you seeing any changes in the competitive environment? Are people being particularly aggressive

do you just attribute the slowdown there to just normal macro slowdown

is there a sort of broader data distribution that you would consider? Or do you think that, that dilutes your value proposition too much

Do you see those problems getting better, the Doge and tariff problems and things like that

does that sort of change your view on the seat-based model? And would you ever consider going more towards an enterprise-based model

what are your expectations for sales headcount growth in '26 for both of the segments

if there's clients that are cutting seats because of either the macro or other things? And how much insight you get from them in terms of the reasons why

what is it that can't be addressed by sort of deep research AI tools that you're able to help with that clients are seeing the value in

does the guidance reflect like the complete 1Q, which was maybe a little bit better or more weighted towards like the more recent

are you seeing anything at the state and local level or international government level that is similar to U.S. Federal

are we in a place where a tech vendor is a nonissue now for this year and should we expect to see accelerating growth throughout the year

could you just remind us what goes into your decision-making process on that

if you've seen a number of them move to the frequent issuer program and whether the economics there are sort of similar

I have been getting an increasing number of questions recently around how much of your data is proprietary, the sources of your data, and which parts and how much of MA is based on proprietary data

usually during the third quarter, you talk about your early thoughts into 2026 for issuance

Are you pulling back on investment at all? And just any additional color on simplification or the efficiency plan

what would change the trajectory dialing up or down the marketing spend

what are just long-term factors that are really driving the elevated growth there?

were you trying to strengthen current markets that you're already in, entering new ones? Just trying to understand what opportunities you're able to find

Really strong quarter. It sounded like maybe it was because of CapEx timing. You talked about it being roughly 12% of the full year CapEx spend

we saw some disparity between the big 3 on this particular line. I was wondering if you thought that this was a geographic thing or definitional

Do you think it impacts the cost in the industry in the future on price/cost spread? Like, is it more of an industry thing

you mentioned the resi shedding. Should that continue through the next few quarters, or when does that lap

how you're thinking about the partnership strategy with the large AI players

I was hoping you could expand more on the success there, whether you're seeing a better market environment, higher pricing or just more success with your new product introductions

I was wondering if you could just talk about your ability to sustain that level of growth. I notice you didn't raise the MI organic growth target for the year

I was hoping you could just give some color on timing. So why now and then maybe the implications for Remainco, are there any datasets that you'll continue to try to license

are there specific areas of Market Intelligence seeing more competition? And previously, I know it is always a competitive space

the sort of differentiation or moat there because I I do think that that is a little bit of a different animal

how you're thinking about partnerships right now. You have the content, you have the AI capabilities

I was wondering if there was a way to break that into Legal, Tax & Accounting and Corporates

if you did start to see a slowdown which it sounds like you have not so far, but if you saw a slowdown in the -- in demand

it sounds like that is in your higher growth bucket and wanted to just get a sense on the additional demand

you talked in the prepared remarks about clients wanting to use your data and capabilities in their internal AI strategies

would they prefer to be the ones to use your data to create AI products themselves so they have an advantage versus other insurers, or would they prefer that you create the AI product

I was hoping you could talk about what you're seeing in the competitive landscape regarding AI startups. You have a very strong moat with your proprietary data

I know in the past, you've tried to integrate with a number of P&C insurance SaaS platforms. Is that an area that strategically we should expect to see more sort of going towards that type of platform

How much pushback are you getting from customers? I know in the past, there was the sensitivity around raising prices because you get the data from the insurers

I was hoping you could just refresh us on your capital deployment strategy going forward and how you're thinking about M&A

which of the technology benefits are you seeing the most benefit right now? And sort of when you look forward continuing to benefit

which areas are you most focused on for efficiency or technology

Do you expect all this to be resolved this year? And how are you thinking about growth in this segment for future years

I was hoping you could talk a little bit more on what's going on with yield and also just in the quarter, but also looking into 2026

when you think about the M&A pipeline, how is that looking? How are valuations looking

outside of that, maybe could you just give some incremental color on the strength in volume that you're seeing

I just want to be clear on the messaging

any stats or anything you can provide on cost of fleet and how an impact of higher tariffs might be on your business

how you would expect the sustainability business, as well as the new health care business to perform in a potentially slower macro environment

could you talk about the potential impacts from the California wildfire cleanup on your volumes

were these contracts that were inherited from acquisitions or were they just signed a long time ago and something changed in the markets