Gartner, Inc.

The filings describe a business whose revenue is still growing but whose profitability has moved the other way. Revenue rose from $6.27 billion in 2024 to $6.5 billion in 2025, while operating income declined from $1.16 billion to $1.03 billion. That gap is the central tension a careful reader should track. The MD&A ties the first-quarter 2026 revenue decline to the sale of Digital Markets, which the filing says represented the entirety of the Other segment and produced a pre-tax gain of $6.1 million. The remaining segments tell a mixed story: Insights rose 3% and Conferences rose 8%, but Consulting fell 15%. The company reported 19,367 employees at March 31, 2026, down 8% from a year earlier. Management emphasizes the Insights subscription model, which the risk factors say made up approximately 78% of 2025 revenues, so renewal performance matters a great deal. The filings present AI as both opportunity and threat. AskGartner, launched in August 2025, is described as an improved client tool, yet the risk factors warn that AI answers could reduce traffic to Gartner's websites and that competitors may adopt AI more effectively. Readers may want to look at whether the 85% Insights client retention rate holds in future periods, since the filing says there is no guarantee it will continue. On forensic screening, no Beneish M-Score, Piotroski F-Score, Altman Z-Score, or Fog Index is on file in the data provided, so this synthesis does not report any of them. Readers who want those screens may compute them from the full filings and check each result against its standard threshold label. Overall, the filings show durable subscription revenue alongside a shrinking operating margin, a divestiture that affects reported growth, and AI-related uncertainty that management acknowledges openly.

Catalyst.Gartner's 2025 revenue reached $6.5 billion, up from $6.27 billion in 2024. The MD&A for the first quarter of 2026 reports total revenue of $1.5 billion, down 2%, and attributes the decline primarily to the February 2026 sale of the Digital Markets business for approximately $104.8 million net of cash transferred. Segment results cited in the MD&A show Insights revenue up 3%, Conferences up 8%, and Consulting down 15%. Subscription-based products made up approximately 78% of 2025 revenues, up from 77% in 2024, and the Insights client retention rate was 85% for 2025 versus 84% for 2024.

Hidden risk.The 10-K risk factors say AI-generated answers in search engines and large language models could reduce the need for clients to visit Gartner's websites, and that clients or others may load proprietary information into large language models. The filing also says AI development has required additional investment and increased costs. Operating income fell from $1.16 billion in 2024 to $1.03 billion in 2025, a decline of about 11%, while revenue rose. Operating margin therefore compressed from about 18.5% to about 15.8%. The filing also notes that its 2025 insurance excludes coverage for conference cancellations due to communicable diseases. No forensic scores are on file for this company, so this risk rests on the filing text and reported figures alone.