$IT

GARTNER INC

CIK:0000749251|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 1,675,943	$ 1,686,454	$ 3,186,984	$ 3,220,584
Costs and expenses:
Cost of services and product development	486,909	531,731	916,216	1,006,761
Selling, general and administrative	764,592	776,888	1,490,941	1,507,196
Depreciation	25,145	30,535	50,510	59,401
Amortization of intangibles	20,038	20,204	40,104	42,098
Gain from sale of divested operation	739	0	(5,399)	0
Total costs and expenses	1,297,423	1,359,358	2,492,372	2,615,456
Operating income	378,520	327,096	694,612	605,128
Interest expense, net	(22,266)	(11,801)	(43,314)	(25,214)
Other (expense) income, net	(1,631)	2,498	(4,263)	4,887
Income before income taxes	354,623	317,793	647,035	584,801
Provision for income taxes	79,125	77,010	149,193	133,079
Net income	$ 275,498	$ 240,783	$ 497,842	$ 451,722
Net income per share:
Basic (in dollars per share)	$ 4.14	$ 3.12	$ 7.31	$ 5.85
Diluted (in dollars per share)	$ 4.14	$ 3.11	$ 7.29	$ 5.82
Weighted average shares outstanding:
Basic (in shares)	66,501	77,157	68,149	77,257
Diluted (in shares)	66,581	77,359	68,288	77,606
Insights
Revenues:
Total revenues	$ 1,289,870	$ 1,263,505	$ 2,584,065	$ 2,519,074
Conferences
Revenues:
Total revenues	244,157	211,407	322,482	284,004
Consulting
Revenues:
Total revenues	141,916	155,594	261,045	295,300
Other
Revenues:
Total revenues	$ 0	$ 55,948	$ 19,392	$ 122,206

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 497,842	$ 451,722
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	90,614	101,499
Stock-based compensation expense	86,860	93,195
Deferred taxes	(3,979)	(40,934)
Gain from sale of divested operation	(5,399)	0
Loss on impairment of lease related assets	0	591
Reduction in the carrying amount of operating lease right-of-use assets	29,895	34,738
Amortization and write-off of deferred financing fees	2,607	2,075
Gain on de-designated swaps	0	(446)
Changes in assets and liabilities, net of acquisitions and divestitures:
Fees receivable, net	475,105	475,125
Deferred commissions	46,847	86,927
Prepaid expenses and other current assets	(30,191)	(19,869)
Other assets	(22,116)	(20,651)
Deferred revenues	(38,303)	(154,358)
Accounts payable and accrued and other liabilities	(340,455)	(312,537)
Cash provided by operating activities	789,327	697,077
Investing activities:
Additions to property, equipment and leasehold improvements	(40,346)	(61,817)
Proceeds from sale of divested operation, net of cash transferred	104,798	0
Cash provided by (used in) investing activities	64,452	(61,817)
Financing activities:
Proceeds from employee stock purchase plan	14,797	17,467
Payments of deferred financing fees	(1,508)	0
Payments on long-term debt	(5,000)	0
Purchases of treasury stock	(1,081,754)	(437,155)
Cash used in financing activities	(1,073,465)	(419,688)
Net (decrease) increase in cash and cash equivalents	(219,686)	215,572
Effects of exchange rates on cash and cash equivalents	(14,129)	48,817
Cash and cash equivalents, beginning of period	1,722,521	1,933,147
Cash and cash equivalents, end of period	$ 1,488,706	$ 2,197,536

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,488,706	$ 1,722,521
Fees receivable, net of allowances of $4,500 and $5,000, respectively	1,202,212	1,684,522
Deferred commissions	352,184	400,728
Prepaid expenses and other current assets	181,226	152,205
Assets held-for-sale	0	106,361
Total current assets	3,224,328	4,066,337
Property, equipment and leasehold improvements, net	199,250	214,183
Operating lease right-of-use assets	208,375	213,997
Goodwill	2,738,631	2,740,802
Intangible assets, net	294,434	336,303
Other assets	528,656	513,778
Total Assets	7,193,674	8,085,400
Current liabilities:
Accounts payable and accrued liabilities	907,102	1,236,533
Deferred revenues	2,756,202	2,810,056
Current portion of long-term debt	0	5,000
Liabilities held-for-sale	0	20,503
Total current liabilities	3,663,304	4,072,092
Long-term debt, net of deferred financing fees	2,979,281	2,976,674
Operating lease liabilities	253,426	270,200
Other liabilities	465,008	446,526
Total Liabilities	7,361,019	7,765,492
Stockholders’ (Deficit) Equity
Preferred stock, $0.01 par value, 5,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.0005 par value, 250,000,000 shares authorized; 163,602,067 shares issued for both periods	82	82
Additional paid-in capital	2,774,555	2,679,101
Accumulated other comprehensive loss, net	(52,419)	(41,015)
Accumulated earnings	7,220,080	6,722,238
Treasury stock, at cost, 99,197,399 and 92,752,769 common shares, respectively	(10,109,643)	(9,040,498)
Total Stockholders’ (Deficit) Equity	(167,345)	319,908
Total Liabilities and Stockholders’ (Deficit) Equity	$ 7,193,674	$ 8,085,400