NIQ Global Intelligence (NIQ) BofA Securities 2026 Information & Business Services Conference summary

Key business themes and performance

• Emphasizes transition from static data provider to a differentiated, AI-embedded intelligence platform, with 105% net dollar retention and 98% gross dollar retention, and over 30% year-over-year increase in client data usage.

• Two-thirds of top 50 clients are adopting AI-native products, driving deeper client embedment and increased spending.

• AI-native products launched include AI BASES Screener, AI Product Developer, and AI Analyst, supporting high-stakes decision-making across 90 markets.

• Proprietary, harmonized, and permissioned data is positioned as a critical differentiator, with strong governance and operational embedment making switching difficult for clients.

• Data consumption is up 30% year-over-year, with 4 trillion transactions processed weekly, up from 3.4 trillion a year earlier.

Financial strategy and capital allocation

• Over $400 million invested in the platform pre-IPO, with ongoing CapEx at 6.5%-7% of revenue, 70% of which is growth capital.

• Margin improvement of 410 basis points in Q4 2025, with guidance for 200 basis points in 2026; half of future margin gains expected from AI productivity, half from revenue growth.

• Data costs reduced from 21% of revenue in 2021 to 15%, driven by value exchange with data partners and platform enhancements.

• Targeting leverage below 3x by end of 2026, with free cash flow supporting both debt paydown and 2-4 small, accretive M&A deals per year.

• Positive free cash flow in 2025 increases strategic flexibility, lowers interest expense, and supports opportunistic investments.

Growth outlook and operational focus

• Mid-single digit organic revenue growth outlook based on retention, cross-sell, upsell, pricing, and new market penetration.

• Intelligence business shows durable growth above 6% for seven quarters; activation business expected to return to growth in 2026 after project timing softness.

• New AI capabilities, such as AI BASES Screener and AI Analyst, enable faster product development and democratized insights for clients.

• Focused on narrowing activation offerings and improving lead conversion discipline to address past friction points.

• CPG marketing spend weakness increases demand for data-driven insights, as clients seek to optimize reduced budgets.