Slides
Page 1
© 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. or its affiliates. This presentation, including all supporting materials, is proprietary to Gartner, Inc. and/or its affiliates and is for the sole internal use of the intended recipients. Because this presentation may contain information that is confidential, proprietary or otherwise legally protected, it may not be further copied, distributed or publicly displayed without the express written permission of Gartner, Inc. or its affiliates. Second Quarter 2026 Results August 4, 2026
Page 2
2 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Forward Looking Statement and Explanatory Note Statements contained in this presentation regarding the growth and prospects of the business, the Company’s projected 2026 financial results, long-term objectives and all other statements in this presentation other than recitation of historical facts are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, estimates, uncertainties and other factors that may cause actual results to be materially different. Such factors include, but are not limited to, the following: our ability to maintain and expand our products and services; our ability to keep pace with technological and industry developments in artificial intelligence (“AI”) and comply with evolving AI regulations; our ability to achieve continued customer renewals and achieve new contract value, backlog and deferred revenue growth in light of competitive pressures; our ability to grow or sustain revenue from individual customers; our ability to expand or retain our customer base; our ability to carry out our strategic initiatives and manage associated costs; the timing of conferences and meetings, in particular our Gartner Symposium/Xpo series; our ability to achieve and effectively manage growth, including our ability to integrate our acquisitions and consummate and integrate future acquisitions; our ability to attract and retain a professional staff of analysts and consultants as well as experienced sales personnel upon whom we are dependent, especially in light of labor competition; our ability to successfully compete with existing competitors and potential new competitors; our ability to enforce and protect our intellectual property rights; the impact of cybersecurity incidents or other disruptions to our information systems; our ability to pay our debt obligations; the impact of global economic and geopolitical conditions, including inflation (and related monetary policy by governments in response to inflation) and recession; uncertain effects, both direct and indirect, of changes and volatility in tariffs and trade policies; risks associated with the creditworthiness, budget cuts, priorities and shutdown of governments and agencies; additional risks associated with international operations, including foreign currency fluctuations; the impact on our business resulting from changes in international conditions, including those resulting from tensions in the Middle East, the war in Ukraine and current and future sanctions imposed by governments or other authorities; the impact of restructuring and other charges on our businesses and operations; our ability to meet sustainability commitments and comply with applicable regulatory requirements, as well as potential reactions by customers to these commitments; the impact of changes in tax policy (including global minimum tax legislation) and heightened scrutiny from various taxing authorities globally; changes to laws and regulations; and other risks and uncertainties described under “Risk Factors” in our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Non-GAAP financial measures such as Adj. Revenues, Adj. EBITDA, Adj. EBITDA excluding Divested Operation, Adj. EBITDA Margin, Adj. EBITDA Margin excluding Divested Operation, Adj. Net Income, Adj. EPS, Return on Invested Capital, and Free Cash Flow, as included in this presentation, are supplemental measures that are not calculated in accordance with generally accepted accounting principles in the United States of America (" GAAP"). Definitions of these measures and reconciliations to the most-directly comparable GAAP measures are included in the appendix. Unless otherwise indicated, or the content otherwise requires, all percentages indicated in this presentation are year-over-year growth rates. The Company’s SEC filings can be found on Gartner’s website at investor.gartner.com and on the SEC’s website at www.sec.gov. Forward looking statements included herein speak only as of August 4, 2026 and the Company disclaims any obligation to revise or update such statements to reflect events or circumstances after this date or to reflect the occurrence of unanticipated events or circumstances, except as required by applicable law or regulation. Some totals may not add due to rounding.
Page 3
3 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Contents Consolidated Financials and Guidance 2Q 2026 Financial Results Page 4 2026 Guidance Page 5 Segment Results Insights Page 6 - 8 Conferences Page 9 Consulting Page 10 Capital Allocation Capital Structure and Allocation Page 11 Free Cash Flow Page 12 GAAP Financial Statements 2Q 2026 GAAP Financial Statements Pages 13 - 16 Appendix Pages 17 - 35 Consolidated Financial Summary Additional Charts Contract Value and Historical Growth Metrics Selected Results excluding Divested Operation Normalized P&L (Non-GAAP) Definitions Non-GAAP Reconciliations
Page 4
4 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. 2Q 2026 Growth and Financial Results Global Contract Value (CV) Global Technology Sales CV Global Business Sales CV CV % increases are FX Neutral at 2026 rates; Global CV growth excluding US Federal government was 3.3%. Y/Y: 1.7% $5.3B Y/Y: 1.1% $4.0B Y/Y: 3.3% $1.3B Sequential Growth: 0.3% Sequential Growth: ~flat Sequential Growth: 1.2% Consolidated Revenues Adj. Revenues Adj. EBITDA Excluding Divested Operation Adj. EPS -0.6% $1.7B 2.8% 6.4% $466M $4.37 FX Neutral: -1.6% FX Neutral: 1.8% FX Neutral: 4.4% 23.8% 70.9% Contribution Margin 27.8% Margin Insights Revenues Conference Revenues Consulting Revenues 2.1% $1.3B 15.5% $244M -8.8% $142M FX Neutral: 1.0% FX Neutral: 14.2% FX Neutral: -8.8% 77.5% Contribution Margin 59.5% Contribution Margin 37.9% Contribution Margin Free Cash Flow Share Repurchases QTD: $378M QTD: $547M LTM: $1.3B LTM: $2.6B Updated 2026 Guidance $ billions, except per share amounts Adjusted Revenues Adj. EBITDA Excluding Divested Operation Adj. EPS Free Cash Flow ≥ $6.375B ≥ $1.570B ≥ $14.00 ≥ $1.185B Notes: Historical data regarding certain selected results excluding divested operation are included in slide 23. CV Sequential Growth compares Quarter A (current quarter) to Quarter B (the immediately preceding quarter) using Quarter A FX rates for both quarters (A/B-1).
Page 5
5 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Guidance $ millions, except per share amounts; shares in millions $ at reported rates Guidance as of May 5, 2026 Incremental FX1 Updated Business Outlook Guidance as of August 4, 2026 At or above: At or above: Insights Revenues 5,200 -30 — 5,170 Conferences Revenues 695 -5 5 695 Consulting Revenues 510 — — 510 Adj. Revenues 6,405 -35 5 6,375 Adj. EBITDA Excluding Divested Operation 1,545 -15 40 1,570 Adj. EPS 13.25 -0.15 0.90 14.00 Free Cash Flow 1,160 -10 35 1,185 Shares ~69 na -3 ~66 • Insights revenues are nearly 100% subscription-based. They reflect Q2 2026 contract value and CV growth accelerating over the course of 2026. • Conferences revenues reflect 55 in-person destination conferences. • Consulting segment incorporates 1H performance. • Expenses reflect agile cost management while investing in key areas (experts, AI, QBH) to drive future top-line growth. • Fully diluted, weighted-average shares outstanding assume repurchases through June. Interest income not assumed on excess cash that could be deployed on incremental repurchases. • FX is based on July rates, which would be a growth tailwind of about 70 bps for revenues and 130 bps for Adj. EBITDA. • Adj. Revenues and Adj. EBITDA guidance excludes divested operation (for historical results excluding divested operation, see slide 23). GAAP Non-GAAP/Adj. Depreciation ~ 102 na Amortization ~ 80 na Stock-Based Compensation ~ 177 na Interest, net ~ 94 ~ 89 Effective Tax Rate ~ 22% ~ 23% Capital Expenditures ~ 100 na 2026 Guidance 1 FX impact from April rates to July rates. na = not applicable.
Page 6
6 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Insights Metrics Global Technology Sales 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 CV Y/Y Growth 5.5 % 3.6 % 1.7 % -0.0 % 0.4 % 1.1 % CV Sequential Growth -1.5 % -0.8 % -0.1 % 2.4 % -1.2 % -0.0 % Quota Bearing Head Count 3,707 3,695 3,715 3,704 3,584 3,581 Y/Y Growth 2.9 % 3.4 % 1.3 % -2.6 % -3.3 % -3.1 % Productivity ($ thousands) 56 37 17 0 4 12 Quarterly Productivity ($ thousands) -15 -8 -1 25 -13 0 Wallet Retention 101.1 % 99.3 % 97.5 % 96.0 % 96.5 % 97.0 % Client Retention 83.9 % 84.0 % 84.1 % 84.9 % 84.5 % 84.7 % Client Enterprises 12,107 11,875 11,726 11,843 11,487 11,347 Contract Value/ Enterprise ($ thousands) 318 322 326 330 348 352 Global Business Sales 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 CV Y/Y Growth 10.8 % 9.2 % 7.1 % 3.5 % 3.2 % 3.3 % CV Sequential Growth -0.4 % 1.2 % 1.4 % 1.3 % -0.7 % 1.2 % Quota Bearing Head Count 1,331 1,339 1,303 1,280 1,282 1,293 Y/Y Growth 8.8 % 10.2 % 4.7 % -1.4 % -3.7 % -3.4 % Productivity ($ thousands) 117 103 82 42 30 31 Quarterly Productivity ($ thousands) -4 10 13 12 -7 12 Wallet Retention 105.2 % 103.7 % 102.1 % 98.6 % 98.3 % 98.6 % Client Retention 87.4 % 87.3 % 87.3 % 86.0 % 85.7 % 86.4 % Client Enterprises 4,667 4,642 4,610 4,531 4,457 4,437 Contract Value/ Enterprise ($ thousands) 257 261 267 275 284 289 Note: All 2025 metrics are using 2025 FX rates. All 2026 metrics are using 2026 FX rates. Productivity is on a last twelve months basis. Productivity is LTM NCVI divided by opening period quota bearing headcount. Quarterly Productivity is Quarterly NCVI divided by prior quarter quota bearing head count. Enterprises that are clients of both GTS and GBS appear in both counts.
Page 7
7 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Insights Metrics Global Sales 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 CV Y/Y Growth 6.7 % 4.9 % 3.0 % 0.8 % 1.0 % 1.7 % CV Sequential Growth -1.2 % -0.3 % 0.3 % 2.2 % -1.1 % 0.3 % Quota Bearing Head Count 5,038 5,034 5,018 4,984 4,866 4,874 Y/Y Growth 4.4 % 5.1 % 2.2 % -2.3 % -3.4 % -3.2 % Productivity ($ thousands) 319 235 145 41 11 17 Quarterly Productivity ($ thousands) -12 -3 3 22 -11 3 Wallet Retention 103.0 % 101.3 % 99.5 % 97.5 % 97.7 % 98.2 % Client Retention 84.4 % 84.6 % 84.7 % 85.3 % 85.0 % 85.2 % Client Enterprises 13,600 13,374 13,218 13,279 12,913 12,775 Contract Value/ Enterprise ($ thousands) 371 376 382 388 408 414 Note: All 2025 metrics are using 2025 FX rates. All 2026 metrics are using 2026 FX rates. Productivity is on a last twelve months basis. Productivity is LTM NCVI divided by opening period quota bearing headcount. Quarterly Productivity is Quarterly NCVI divided by prior quarter quota bearing head count.
Page 8
8 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Insights Segment Revenues $ millions Contribution Margin $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 1,256 1,264 1,271 1,283 1,294 1,290 5,073 Y/Y Growth 6.1 % 6.2 % 5.1 % 2.9 % 3.1 % 2.1 % 5.0 % Y/Y FX Neutral Growth 7.8 % 5.3 % 3.6 % 1.1 % -0.1 % 1.0 % 4.4 % Contribution 966 961 974 989 1,012 999 3,890 Contribution Margin 76.9 % 76.0 % 76.7 % 77.1 % 78.2 % 77.5 % 76.7 % 1,256 1,264 1,271 1,283 1,294 1,290 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 76.9% 76.0% 76.7% 77.1% 78.2% 77.5% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Note: FX Neutral Growth rates are based on constant FX rates applied across the periods.
Page 9
9 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Conferences Segment Revenues $ millions Contribution Margin $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 73 211 75 286 78 244 645 Y/Y Growth 3.6 % 13.6 % -1.6 % 13.9 % 7.9 % 15.5 % 10.5 % Y/Y FX Neutral Growth 5.4 % 12.0 % -4.1 % 11.4 % 5.7 % 14.2 % 8.9 % Contribution 27 121 27 147 30 145 323 Contribution Margin 37.7 % 57.4 % 36.6 % 51.3 % 38.8 % 59.5 % 50.1 % Destination Conferences (#) 10 19 10 14 10 18 53 Destination Conference Attendees (#) 11,911 28,295 11,454 32,067 11,473 28,057 83,727 Same Conference Revenue Growth 12.1 % 5.8 % 6.4 % 8.4 % 9.0 % 12.0 % 7.7 % Same Conference Attendee Growth -2.6 % -4.1 % 1.5 % -11.3 % -2.9 % -1.4 % -6.4 % Note: FX Neutral Growth and Same Conference Growth are based on constant FX rates applied across the periods. 73 211 75 286 78 244 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 37.7% 57.4% 36.6% 51.3% 38.8% 59.5% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26
Page 10
10 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Consulting Segment Revenues $ millions Contribution Margin $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 140 156 124 134 119 142 552 Y/Y Growth 3.7 % 8.8 % -3.2 % -12.8 % -14.7 % -8.8 % -1.1 % Y/Y FX Neutral Growth 5.3 % 6.5 % -4.8 % -14.6 % -16.8 % -8.8 % -2.2 % Contribution 53 62 35 36 37 54 186 Contribution Margin 38.2 % 39.6 % 28.5 % 27.1 % 30.9 % 37.9 % 33.7 % Labor Revenues 104 110 94 90 90 96 399 Y/Y Growth -4.1 % 3.1 % -7.1 % -12.8 % -13.4 % -12.8 % -5.1 % Contract Optimization Revenues 36 46 30 43 29 46 154 Y/Y Growth 36.2 % 25.6 % 12.0 % -12.8 % -18.5 % 0.9 % 11.3 % Backlog 219 196 199 179 201 214 179 Y/Y Growth 15.9 % -2.3 % -9.1 % -7.3 % -8.6 % 9.1 % -7.3 % Billable Head Count 968 949 924 920 875 842 940 Y/Y Growth 2.2 % -0.4 % -3.7 % -4.6 % -9.6 % -11.3 % -1.7 % Utilization Rate 63.9 % 64.8 % 59.7 % 55.2 % 61.4 % 65.1 % 60.9 % Y/Y Change (bps) -236 -170 -500 -641 -256 32 -387 Note: Backlog growth is based on 2026 FX rates. FX Neutral Growth is based on constant FX rates applied across the periods. 140 156 124 134 119 142 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 38.2% 39.6% 28.5% 27.1% 30.9% 37.9% 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26
Page 11
11 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Capital Structure and Allocation Capital Structure • Optimizes financial leverage benefits and financial flexibility • Target 2.0-2.5x leverage1 • ~$500M cash is needed to run the business Free Cash Flow deployment • Expect to offset equity dilution • Price sensitive, opportunistic, disciplined stock repurchases • Strategic value-enhancing tuck-in acquisitions • No current plans for material debt repayments Share Repurchases $ millions ~$1.2B repurchase authorization remaining as of July 31, 2026. $ billions June 30, 2026 Rate Maturity Cash 1.5 nm nm 2028 Bonds 0.8 4.50% 2028 2029 Bonds 0.6 3.63% 2029 2030 Bonds 0.8 3.75% 2030 2031 Bonds 0.4 4.95% 2031 2035 Bonds 0.5 5.60% 2035 Total Debt 3.0 4.34% Revolver Unused Capacity 1.0 18 bps % Debt With Fixed Rates 100% Leverage Ratios 2Q 2026 Bank Covenant Gross Debt/Adjusted EBITDA1 1.8 na Net Debt/Adjusted EBITDA2 0.9 na Consolidated Leverage Ratio 3 1.6 ≤ 4.0x Debt Ratings Investment Grade Ratings Fitch BBB- S&P BBB- Moody's Baa3 176 1,656 1,044 606 735 1,991 1,082 2020 2021 2022 2023 2024 2025 YTD 2026 1 Gross debt/Trailing twelve month Adjusted EBITDA. 2 Net debt (Gross debt less cash and cash equivalents)/Trailing twelve month Adjusted EBITDA. 3 As defined in the Company's 2024 Credit Agreement.
Page 12
12 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Free Cash Flow Conversion (LTM) % of Revenue - LTM 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Adjusted EBITDA 24.6 24.7 24.7 24.8 25.1 25.5 Cash interest, net (0.5) (0.4) (0.4) (0.5) (0.7) (0.9) Cash taxes (4.9) (4.5) (3.6) (3.2) (3.5) (3.3) Adjusted working capital1 6.3 5.5 — (1.2) 0.2 0.1 Capex (1.7) (1.7) (1.8) (1.8) (1.7) (1.4) Free Cash Flow 23.8 23.6 18.8 18.1 19.4 19.9 % of GAAP Net Income - LTM 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 GAAP Net Income 100.0 100.0 100.0 100.0 100.0 100.0 Depreciation and amortization 16.3 16.1 23.0 27.6 26.4 24.4 Stock-based compensation expense 12.3 12.4 17.4 21.4 20.5 19.4 Gain from sale of divested operation — — — — (0.8) (0.7) Goodwill impairment — — 16.9 20.6 20.3 19.4 Changes in assets/liabilities 7.2 9.4 6.2 (2.7) 4.5 2.3 Other adjustments (7.4) (9.6) (13.2) 10.2 13.9 13.6 Capex (8.4) (8.8) (13.0) (15.8) (14.7) (12.0) Free Cash Flow 119.9 119.4 137.4 161.2 170.0 166.3 Note: Percentages are based on rolling 4 quarter numbers. 1 see p. 28 for the definition of Adjusted working capital and a discussion on insurance proceeds and other non-recurring items. Our typical Adjusted EBITDA margin to Free Cash Flow margin conversion is about 4-6 percentage points. Our typical Free Cash Flow conversion from GAAP Net Income is around 140-160%. Note: 2025 Free Cash Flow conversion affected by 3Q24 after-tax insurance proceeds, 4Q24 tax planning benefits, 3Q25 goodwill impairment and nonrecurring real estate payments in 4Q24 and 2Q25. 2026 Free Cash Flow conversion affected by 3Q25 goodwill impairment, nonrecurring real estate payment in 2Q25 and gain on sale of divested operation in 1Q26.
Page 13
13 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. 2Q 2026 GAAP Financial Statements
Page 14
14 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Condensed Consolidated Statements of Operations Unaudited; in millions, except per share amounts Three Months Ended June 30, 2026 2025 Revenues: Insights $ 1,289.8 $ 1,263.6 Conferences 244.2 211.4 Consulting 141.9 155.6 Other — 55.9 Total revenues 1,675.9 1,686.5 Costs and expenses: Cost of services and product development 487.0 531.7 Selling, general and administrative 764.6 777.0 Depreciation 25.1 30.5 Amortization of intangibles 20.0 20.2 Gain from sale of divested operation 0.7 — Total costs and expenses 1,297.4 1,359.4 Operating income 378.5 327.1 Interest expense, net (22.3) (11.8) Other (expense) income, net (1.6) 2.5 Income before income taxes 354.6 317.8 Provision for income taxes 79.1 77.0 Net income $ 275.5 $ 240.8 Net income per share: Basic $ 4.14 $ 3.12 Diluted $ 4.14 $ 3.11 Weighted average shares outstanding: Basic 66.5 77.2 Diluted 66.6 77.4
Page 15
15 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Condensed Consolidated Balance Sheets Unaudited; in millions Assets June 30, 2026 December 31, 2025 Current assets: Cash and cash equivalents $ 1,488.7 $ 1,722.5 Fees receivable 1,202.2 1,684.5 Deferred commissions 352.2 400.7 Prepaid expenses and other current assets 181.2 152.2 Assets held-for-sale — 106.4 Total current assets 3,224.3 4,066.3 Property, equipment and leaseholds 199.3 214.2 Operating leases - right of use assets 208.4 214.0 Goodwill 2,738.6 2,740.8 Intangible assets, net 294.4 336.3 Other assets 528.7 513.8 Total Assets $ 7,193.7 $ 8,085.4 Liabilities and Stockholders’ (Deficit) Equity Current liabilities: Accounts payable and accrued liabilities $ 907.1 $ 1,236.6 Deferred revenues 2,756.2 2,810.0 Current portion of long-term debt — 5.0 Liabilities held-for-sale — 20.5 Total current liabilities 3,663.3 4,072.1 Long-term debt 2,979.3 2,976.7 Operating leases - liabilities 253.4 270.2 Other liabilities 465.0 446.5 Total Liabilities 7,361.0 7,765.5 Total Stockholders’ (Deficit) Equity (167.3) 319.9 Total Liabilities and Stockholders’ (Deficit) Equity $ 7,193.7 $ 8,085.4
Page 16
16 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Condensed Consolidated Statement of Cash Flows Unaudited; in millions Three Months Ended June 30, Operating activities: 2026 2025 Net income $ 275.5 $ 240.8 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 45.2 50.7 Stock-based compensation expense 41.0 43.0 Deferred taxes (6.0) (11.2) Gain from sale of divested operation 0.7 — Reduction in the carrying amount of operating lease right-of-use assets 15.0 17.0 Amortization and write-off of unamortized discounts and deferred financing fees 1.3 1.0 Gain on de-designated swaps — (0.3) Changes in assets and liabilities, net of acquisitions and divestitures: Fees receivable, net 204.2 263.5 Deferred commissions 25.6 45.8 Prepaid expenses and other current assets 8.3 (14.5) Other assets (14.2) (5.1) Deferred revenues (252.0) (285.3) Accounts payable and accrued and other liabilities 53.7 37.6 Cash provided by operating activities 398.3 383.6 Investing activities: Additions to property, equipment and leasehold improvements (19.9) (36.2) Cash used in investing activities (19.9) (36.2) Financing activities: Proceeds from employee stock purchase plan 6.1 7.7 Payments on borrowings (5.0) — Purchases of treasury stock (547.1) (274.5) Cash used in financing activities (546.0) (266.8) Net (decrease) increase in cash and cash equivalents (167.6) 80.6 Effects of exchange rates on cash and cash equivalents (10.6) 25.9 Cash and cash equivalents, beginning of period 1,666.9 2,091.0 Cash and cash equivalents, end of period $ 1,488.7 $ 2,197.5
Page 17
17 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Appendix
Page 18
18 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Consolidated Financial Summary $ and shares in millions except per share amounts 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 1,534 1,686 1,524 1,753 1,511 1,676 6,497 Y/Y Growth 4.2 % 5.7 % 2.7 % 2.2 % -1.5 % -0.6 % 3.7 % Y/Y FX Neutral Growth 5.7 % 4.6 % 1.2 % 0.3 % -4.3 % -1.6 % 2.9 % Contribution 1,059 1,155 1,050 1,180 1,082 1,189 4,444 Contribution Margin 69.0 % 68.5 % 68.9 % 67.3 % 71.6 % 70.9 % 68.4 % Adj. EBITDA 385 443 347 436 400 466 1,611 Y/Y Growth 0.7 % 6.6 % 1.9 % 4.6 % 4.0 % 5.1 % 3.6 % Adj. EBITDA Margin 25.1 % 26.3 % 22.8 % 24.9 % 26.5 % 27.8 % 24.8 % Adj. EPS 2.98 3.53 2.76 3.94 3.32 4.37 13.17 Y/Y Growth 1.7 % 9.6 % 10.4 % -27.8 % 11.4 % 23.8 % -6.5 % Free Cash Flow 288 347 269 271 371 378 1,175 LTM Free Cash Flow 1,505 1,512 1,216 1,175 1,258 1,289 1,175 Y/Y Growth 40.0 % 50.3 % -4.1 % -15.0 % -16.4 % -14.7 % -15.0 % Avg. Diluted Shares 77.8 77.4 75.0 72.1 70.0 66.6 75.6 Note: FX Neutral growth numbers are based on the FX rates of the respective periods; Consolidated contribution includes segment contribution and $9M of cost of services and product development – unallocated in 2Q26. The unallocated amounts consist of certain bonus and fringe costs recorded in consolidated Cost of services and product development that are not allocated to segment expense.
Page 19
19 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. (64) (17) 14 113 (56) 14 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Quarterly Net Contract Value Increase (NCVI) $ millions @ '26 rates 5,214 5,197 5,211 5,324 5,268 5,283 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 1,468 1,631 1,469 1,703 1,492 1,676 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Revenues $ millions 374 438 339 429 395 466 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Adj. EBITDA Excluding Divested Operation $ millions 1,505 1,512 1,216 1,175 1,258 1,289 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2.98 3.53 2.76 3.94 3.32 4.37 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Quarterly Financial Summary Charts Adj. EPS dollars Adj. Revenues $ millions Contract Value $ millions @ '26 rates LTM Free Cash Flow $ millions
Page 20
20 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Contract Value Metrics (at 2026 FX Rates) Global Technology Sales $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Contract Value 3,986 3,954 3,951 4,048 4,000 3,999 Quarterly NCVI -59 -32 -3 97 -48 -1 LTM Net Contract Value Increase (NCVI) 212 141 70 3 14 45 Global Business Sales $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Contract Value 1,228 1,242 1,260 1,276 1,268 1,283 Quarterly NCVI -5 14 17 17 -9 16 LTM Net Contract Value Increase (NCVI) 120 106 85 43 40 41 Global Sales $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Contract Value 5,214 5,197 5,211 5,324 5,268 5,283 Quarterly NCVI -64 -17 14 113 -56 14 LTM Net Contract Value Increase (NCVI) 333 247 155 46 54 86 CV dollars and CV growth rates have always been and will continue to be presented on an FX Neutral basis. We are now also providing the sequential FX Neutral CV growth rates in addition to the year-over- year growth. These reflect the normal seasonality of the business, in which quarter-to-quarter growth generally increases as the calendar year progresses. Beginning this quarter, other than FX Neutral CV dollars, all KPIs which are based on FX Neutral calculations will not be revised in future presentations. There is no change to historical numbers as they were originally presented in the past. For FX Neutral CV dollars, the approach is unchanged from our long- standing method: • During a given year (for example 2025), all CV dollar amounts will be shown using the 2025 rates. • In the following year (for example 2026), the 2025 CV dollar amounts will be shown using the 2026 rates. • The purpose of updating the prior year is to provide the calculation of FX Neutral growth on a suitably comparable basis. CV Y/Y and sequential growth rates, productivity, CV/enterprise and wallet retention will remain fixed and will be stated at the FX rates at the start of the calendar year to which a metric relates. Contract Value at 2025 FX Rates $ millions 1Q25 2Q25 3Q25 4Q25 Global Technology Sales 3,853 3,822 3,818 3,910 Global Business Sales 1,198 1,212 1,229 1,245 Global Sales 5,051 5,034 5,047 5,155
Page 21
21 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Contract Value Historical Growth Metrics -Y/Y Global Technology Sales Global Business Sales Global Sales 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2026 0.4 % 1.1 % 2026 3.2 % 3.3 % 2026 1.0 % 1.7 % 2025 5.5 % 3.6 % 1.7 % -0.0 % 2025 10.8 % 9.2 % 7.1 % 3.5 % 2025 6.7 % 4.9 % 3.0 % 0.8 % 2024 5.4 % 6.1 % 6.1 % 6.6 % 2024 12.3 % 12.0 % 11.6 % 11.9 % 2024 6.9 % 7.4 % 7.3 % 7.8 % 2023 8.9 % 7.4 % 6.5 % 6.3 % 2023 16.3 % 14.8 % 14.0 % 12.9 % 2023 10.4 % 8.9 % 8.1 % 7.7 % 2022 14.3 % 13.5 % 12.7 % 10.5 % 2022 24.3 % 23.0 % 21.5 % 18.9 % 2022 16.3 % 15.4 % 14.5 % 12.3 % 2021 4.5 % 9.0 % 11.8 % 14.1 % 2021 11.6 % 18.1 % 22.4 % 23.8 % 2021 5.8 % 10.7 % 13.8 % 15.9 % 2020 11.1 % 7.2 % 5.2 % 3.9 % 2020 8.4 % 6.6 % 5.6 % 7.2 % 2020 10.6 % 7.1 % 5.3 % 4.5 % 2019 14.3 % 13.6 % 13.2 % 12.3 % 2019 -0.3 % 0.8 % 3.0 % 8.9 % 2019 11.2 % 11.7 % 11.8 % 11.4 % 2018 13.3 % 13.9 % 13.9 % 14.2 % 2018 6.6 % 4.3 % 4.1 % 1.0 % 2018 11.8 % 11.7 % 11.8 % 11.4 %
Page 22
22 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Contract Value Historical Growth Metrics -Sequential Global Technology Sales Global Business Sales Global Sales 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2026 -1.2 % 0.0 % 2026 -0.7 % 1.2 % 2026 -1.1 % 0.3 % 2025 -1.5 % -0.8 % -0.1 % 2.4 % 2025 -0.4 % 1.2 % 1.4 % 1.3 % 2025 -1.2 % -0.3 % 0.3 % 2.2 % 2024 -0.6 % 1.1 % 1.8 % 4.3 % 2024 1.1 % 2.4 % 3.2 % 4.7 % 2024 -0.2 % 1.4 % 2.1 % 4.4 % 2023 0.3 % 0.4 % 1.8 % 3.7 % 2023 1.7 % 2.7 % 3.6 % 4.4 % 2023 0.6 % 0.9 % 2.2 % 3.9 % 2022 1.8 % 1.8 % 2.6 % 4.0 % 2022 3.9 % 4.1 % 4.4 % 5.2 % 2022 2.3 % 2.3 % 3.0 % 4.2 % 2021 1.1 % 2.5 % 3.3 % 6.5 % 2021 3.5 % 5.3 % 5.7 % 7.4 % 2021 1.6 % 3.1 % 3.8 % 6.7 % 2020 0.5 % -1.7 % 0.7 % 4.4 % 2020 -0.5 % -0.5 % 2.0 % 6.1 % 2020 0.3 % -1.5 % 0.9 % 4.7 % 2019 1.6 % 1.9 % 2.6 % 5.8 % 2019 0.2 % 1.2 % 3.0 % 4.4 % 2019 1.3 % 1.8 % 2.6 % 5.5 % 2018 1.4 % 2.6 % 2.9 % 6.6 % 2018 1.7 % 0.0 % 0.7 % -1.3 % 2018 1.5 % 2.0 % 2.4 % 5.0 % There is notable seasonality in the business, improving through the year. Q4 is the largest sequential quarter.
Page 23
23 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. $ millions 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Consolidated - excluding divested operation Adjusted revenues 1,468 1,631 1,469 1,703 1,492 1,676 6,270 Adjusted EBITDA excluding divested operation 374 438 339 429 395 466 1,579 Adjusted EBITDA margin excluding divested operation 25.5 % 26.9 % 23.1 % 25.2 % 26.5 % 27.8 % 25.2 % Selected Results Excluding Divested Operation
Page 24
24 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Non-GAAP P&L $ millions except per share amounts 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 FY25 Revenues 1,534 1,686 1,524 1,753 1,511 1,676 6,497 Less Cost of Services 475 532 474 573 429 487 2,054 Contribution 1,059 1,155 1,050 1,180 1,082 1,189 4,444 Less SG&A 730 777 763 798 726 765 3,068 Plus Equity Comp 50 43 31 32 46 41 156 Plus Other Adjustments * 6 23 29 22 -1 0 80 Adj. EBITDA 385 443 347 436 400 466 1,611 Less Equity Comp 50 43 31 32 46 41 156 Less Depreciation 29 31 31 28 25 25 118 Less Non-GAAP Interest, net 12 11 15 18 20 21 56 Less Other Expense (Income) -2 -2 1 2 3 2 -2 Adjusted Pre-tax Income 296 362 270 357 306 376 1,283 Less Adjusted Tax 63 88 63 73 74 86 287 Adjusted Net Income 232 273 207 284 232 291 996 Adj. EPS 2.98 3.53 2.76 3.94 3.32 4.37 13.17 * Consists of workforce reduction expenses, direct and incremental expenses related to acquisitions and divestitures, facility-related exit costs and other non-recurring items.
Page 25
25 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Definitions Adjusted Revenues: Represents GAAP revenues less revenues from our Digital Markets divested operation. We believe Adjusted Revenues is an important measure of our recurring operations as it provides a more accurate period-over period comparison of trends in revenues. Adjusted EBITDA and Adjusted EBITDA Margin : Represents GAAP net income (loss) adjusted for: (i) interest expense, net; (ii) tax provision (benefit); (iii) gain on event cancellation insurance claims, as applicable; (iv) other (income) expense, net; (v) stock-based compensation expense; (vi) depreciation, amortization, and accretion; (vii) goodwill impairment and other asset impairments, as applicable, (viii) workforce reduction expenses and certain other non-recurring items and (ix) gain/loss on divestitures, as applicable. Adjusted EBITDA Margin represents Adjusted EBITDA divided by GAAP Revenue. We believe Adjusted EBITDA and Adjusted EBITDA Margin are important measures of our recurring operations as they exclude items not representative of our core operating results. Adjusted EBITDA Excluding Divested Operation and Adjusted EBITDA Margin Excluding Divested Operation : Represents Adjusted EBITDA as defined above less EBITDA from our Digital Markets divested operation. Adjusted EBITDA Margin Excluding Divested Operation represents Adjusted EBITDA Excluding Divested Operation divided by Adjusted Revenue. We believe Adjusted EBITDA Excluding Divested Operation and Adjusted EBITDA Margin Excluding Divested Operation are important measures of our recurring operations as it provides a more accurate and consistent period-over period comparison of our results. Adjusted Net Income and Adjusted EPS : Represents GAAP net income (loss) and diluted net income (loss) per share adjusted for the impact of certain items directly related to acquisitions and other non-recurring items. These adjustments include (on a per share basis, in the case of Adjusted EPS): (i) the amortization of acquired intangibles*; (ii) workforce reduction expenses and other non-recurring items; (iii) gain on event cancellation insurance claims, as applicable; (iv) the non-cash (gain) loss on de-designated interest rate swaps, as applicable; (v) goodwill impairment and other asset impairments, as applicable, (vi) gain/loss on divestitures, as applicable. and (vii) the related tax impact. We believe Adjusted Net Income and Adjusted EPS are important measures of our recurring operations as they exclude items that may not be indicative of our core operating results. * The Company excludes amortization of acquired intangibles because it is generally a fixed non-cash expense that can be significantly impacted by the timing and/ or size of acquisitions and management does not use it to evaluate core operating results. Although the Company excludes the amortization of acquired intangibles from Adjusted Net Income and Adjusted EPS, management believes that it is important for investors to understand that such intangible assets were recorded as part of acquisition accounting and contribute to revenue generation.
Page 26
26 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Definitions Return on Invested Capital: Represents NOPAT divided by Total Capital (Total Debt + Total Stockholders' Equity). We believe that ROIC is an important measure of the invested capital as it measures how effectively we deploy our capital base. ROIC is a profitability measure, not a measure of financial performance under GAAP. Net Operating Profit After Tax (NOPAT): We define net operating profit after tax as operating income for the trailing twelve months less income taxes calculated using the estimated effective tax rate for that period. Free Cash Flow : Represents cash provided by operating activities determined in accordance with GAAP less payments for capital expenditures. We believe Free Cash Flow is an important measure of the recurring cash generated by the Company’s core operations that may be available to be used to repay debt obligations, repurchase our stock, invest in future growth through new business development activities, or make acquisitions. Foreign Currency Neutral (FX Neutral): We provide foreign currency neutral dollar amounts and percentages for our contract values, revenues, certain expenses, and other metrics. These foreign currency neutral dollar amounts and percentages eliminate the effects of exchange rate fluctuations and thus provide a more accurate and meaningful trend in the underlying data being measured. We calculate foreign currency neutral dollar amounts by converting the underlying amounts in local currency for different periods into U.S. dollars by applying the same foreign exchange rates to all periods presented.
Page 27
27 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Definitions of Key Metrics/Calculations Business Measurements Contract value represents the dollar value attributable to all of our subscription-related contracts. It is calculated as the annualized value of all contracts in effect at a specific point in time, without regard to the duration of the contract. Contract value primarily includes Insights deliverables for which revenue is recognized on a ratable basis, as well as other deliverables (primarily Conferences tickets) for which revenue is recognized when the deliverable is utilized. Comparing contract value year-over-year not only measures the short-term growth of our business, but also signals the long-term health of our Insights subscription business since it measures revenue that is highly likely to recur over a multi-year period. Our contract value consists of Global Technology Sales contract value, which includes sales to users and providers of technology, and Global Business Sales contract value, which includes sales to all other functional leaders. Client retention rate represents a measure of client satisfaction and renewed business relationships at a specific point in time. Client retention is calculated on a percentage basis by dividing our current clients, who were also clients a year ago, by all clients from a year ago. Client retention is calculated at an enterprise level, which represents a single company or customer. Wallet retention rate represents a measure of the amount of contract value we have retained with clients over a twelve-month period. Wallet retention is calculated on a percentage basis by dividing the contract value of our current clients, who were also clients a year ago, by the contract value from a year ago, excluding the impact of foreign currency exchange. When wallet retention exceeds client retention, it is an indication of retention of higher-spending clients, or increased spending by retained clients, or both. Wallet retention is calculated at an enterprise level, which represents a single company or customer. Number of destination conferences represents the total number of hosted in-person conferences completed during the period. Single day, local meetings are excluded. Number of destination attendees represents the total number of people who attend in-person conferences. Single day, local meetings are excluded. Consulting backlog represents future revenue to be derived from in-process consulting and benchmark analytics engagements. Utilization rate represents a measure of productivity of our consultants. Utilization rates are calculated for billable headcount on a percentage basis by dividing total hours billed by total hours available to bill. Segment Insights Conference Consulting Note: Please see Gartner’s 2025 Annual Report on Form 10K filed with the SEC for additional definitions and explanations about the business.
Page 28
28 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Adjusted Working Capital and Non-Recurring Items Adjusted working capital = Free Cash Flow - Adjusted EBITDA + Cash Taxes + Cash Interest Net of Interest income + Capex $ millions Non-Recurring Items Included in Free Cash Flow: 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Insurance Proceeds — — 300 — — — — — — — Real Estate Payments — — — (24) — (24) — — — —
Page 29
29 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Non-GAAP Reconciliations
Page 30
30 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Non-GAAP Reconciliations $ millions Reconciliation- Net Income to Adjusted EBITDA Excluding Divested Operation: 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Net Income 210.9 240.8 35.4 242.2 222.3 275.5 Interest expense, net 13.4 11.8 16.3 19.1 21.0 22.3 Other (income) expense, net (2.4) (2.5) 0.6 1.3 2.6 1.6 Tax provision 56.1 77.0 34.1 71.7 70.1 79.1 Operating income 278.0 327.1 86.3 334.2 316.1 378.5 Adjustments: Stock-based compensation expense (a) 50.2 43.0 30.5 32.2 45.9 41.0 Depreciation, accretion, and amortization (b) 51.0 51.0 51.2 48.1 45.7 45.4 Goodwill and other asset impairments (c) — 0.6 154.1 0.1 — — Workforce reduction expenses and other non-recurring items (d) 5.7 21.7 24.7 21.7 (1.2) 0.1 Gain from sale of divested operation (e) — — — — (6.1) 0.7 Adjusted EBITDA 384.9 443.4 346.9 436.3 400.3 465.8 Less: Divested operation adjusted EBITDA (f) (10.8) (5.5) (8.1) (7.7) (4.8) — Adjusted EBITDA excluding divested operation 374.1 437.9 338.8 428.6 395.5 465.8 (a) Consists of charges for stock-based compensation. (b) Includes depreciation expense, amortization of intangibles, and accretion on asset retirement obligations. (c) Includes $150M of goodwill impairment related to Digital Markets in 2025 in addition to impairment loss for lease related assets, net of a reduction in lease liabilities. (d) Consists of workforce reduction expenses, direct and incremental expenses related to acquisitions and divestitures, facility- related exit costs and other non-recurring items, if applicable. (e) Consists of the gain from the February 2026 sale of our divested operation. (f) Divested operation adjusted EBITDA is calculated as divested operation contribution minus certain direct Selling, General, and Administrative expenses. It excludes allocations for corporate support services and other indirect costs that benefited the business. $ millions Reconciliation - GAAP Revenues to Adjusted Revenues 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2025 Total revenues 1,534.1 1,686.5 1,524.1 1,752.6 1,511.0 1,675.9 6,497.2 Less: Divested operation revenues (66.3) (55.9) (55.2) (50.0) (19.4) — (227.4) Adjusted revenues 1,467.8 1,630.6 1,468.9 1,702.6 1,491.6 1,675.9 6,269.8
Page 31
31 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Non-GAAP Reconciliations In millions except per share amounts Reconciliations - GAAP Net Income to Adjusted Net Income: 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 GAAP net income 210.9 240.8 35.4 242.2 222.3 275.5 Adjustments: Amortization of acquired intangibles (a) 21.9 20.2 20.2 20.0 20.1 20.0 Workforce reduction expenses and other non-recurring items (b) 6.8 22.7 25.7 22.9 0.1 1.4 Gain from sale of divested operation (c) — — — — (6.1) 0.7 Goodwill and other asset impairments (d) — 0.6 154.1 0.1 — — (Gain) loss on de-designated interest rate swaps (e) (0.2) (0.3) — — — — Tax impact of adjustments (7.3) (11.0) (28.3) (1.3) (4.3) (6.5) Adjusted net income 232.1 273.0 207.0 283.8 232.1 291.2 Diluted shares 77.8 77.4 75.0 72.1 70.0 66.6 Adjusted EPS 2.98 3.53 2.76 3.94 3.32 4.37 Reconciliations - GAAP Net Income per diluted share to Adjusted EPS: 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 GAAP net income per diluted share 2.71 3.11 0.47 3.36 3.18 4.14 Adjustments: Amortization of acquired intangibles (a) 0.28 0.26 0.27 0.28 0.29 0.30 Workforce reduction expenses and other non-recurring items (b) 0.09 0.29 0.34 0.32 — 0.02 Gain from sale of divested operation (c) — — — — (0.09) 0.01 Goodwill and other asset impairments (d) — 0.01 2.06 — — — Tax impact of adjustments (0.09) (0.14) (0.38) (0.02) (0.06) (0.10) Adjusted EPS 2.98 3.53 2.76 3.94 3.32 4.37 (a) Consists of non-cash amortization charges from acquired intangibles. (b) Consists of workforce reduction expenses, direct and incremental expenses related to acquisitions and divestitures, facility-related exit costs and other non-recurring items, if applicable. Includes the amortization of deferred financing fees, which are recorded in Interest expense, net in the (Condensed) Consolidated Statements of Operations. (c) Consists of the gain from the February 2026 sale of our divested operation. (d) Includes $150M of goodwill impairment related to Digital Markets in 2025 in addition to impairment loss for lease related assets, net of a reduction in lease liabilities. (e) Represents the fair value adjustment for interest rate swaps after de- designation.
Page 32
32 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Non-GAAP Reconciliations $ millions Reconciliation - Interest, net to Non-GAAP Interest, net 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Interest, net 13.4 11.8 16.3 19.1 21.0 22.3 Less: amortization of deferred financing fees (1.0) (1.0) (1.0) (1.2) (1.3) (1.3) Non-GAAP Interest, net 12.4 10.8 15.2 17.9 19.8 21.0 Effective GAAP Tax Rate to Adjusted Tax Rate: 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 GAAP Rate 21.0 % 24.2 % 49.1 % 22.8 % 24.0 % 22.3 % Tax rate on Adjustments 25.8 % 25.5 % 14.2 % 3.0 % 30.8 % 29.1 % Adjusted Tax Rate 21.5 % 24.4 % 23.2 % 20.4 % 24.3 % 22.7 % $ millions Reconciliation - Cash Provided by Operating Activities to Free Cash Flow: 2020 2021 2022 2023 2024 Cash provided by operating activities (1) 903.2 1,312.5 1,101.4 1,155.7 1,484.9 Less: cash paid for capital expenditures (83.8) (59.8) (108.1) (103.2) (101.7) Free Cash Flow (1) 819.3 1,252.7 993.2 1,052.7 1,383.2 $ millions Reconciliation - Cash Provided by Operating Activities to Free Cash Flow: 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Cash provided by operating activities 313.5 383.6 298.7 294.5 391.0 398.3 Less: cash paid for capital expenditures (25.6) (36.2) (29.5) (23.8) (20.4) (19.9) Free Cash Flow (1) 287.9 347.4 269.2 270.7 370.6 378.4 1. Cash provided by operating activities and Free Cash Flow in 2021 and Q3 2024 included ~$167 million and $300 million, respectively, of proceeds related to 2020 and 2021 event cancellation insurance claims.
Page 33
33 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Non-GAAP Reconciliations $ millions Reconciliations - Return on Invested Capital (ROIC) 4Q25 1Q26 2Q26 LTM Operating Income 1,026 1,064 1,115 Effective tax rate 22 % 22 % 22 % NOPAT 800 830 870 Debt 3,005 3,005 3,000 Stockholders' Equity (Deficit) 320 63 (167) Total Capital 3,325 3,068 2,833 Return on Invested Capital (ROIC) 24 % 27 % 31 %
Page 34
34 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Non-GAAP Reconciliations - 2026 Guidance Financial Outlook Reconciliation: GAAP Net Income to Adjusted EBITDA Excluding Divested Operation ($ in millions) 2026 Guidance GAAP net income ≥$ 872 Interest expense, net (a) ~ 94 Other (income) expense, net ~ 7 Tax provision ~ 248 Operating Income ≥ 1,221 Adjustments: Stock-based compensation expense ~ 177 Depreciation, accretion, and amortization ~ 182 Gain from sale of divested operation (b) ~ (5) Adjusted EBITDA ≥$ 1,575 Less: Divested operation adjusted EBITDA (c) ~ (5) Adjusted EBITDA excluding divested operation ≥$ 1,570 Note: Reconciliation of Guidance as of May 5, 2026 included in our Q1 2026 Earnings Supplement is available on our website at investor.gartner.com. Financial Outlook Reconciliation: GAAP Revenues to Adjusted Revenues ($ in millions) 2026 Guidance Total revenues ≥$ 6,394 Less: Divested operation revenues ~ (19) Adjusted revenues ≥$ 6,375 (a) Assumes approximately $5M of amortization of deferred financing fees, which is reported in interest expense, net in the Company's Consolidated Statement of Operations. (b) Consists of the gain from the February 2026 sale of our divested operation. (c) Divested operation adjusted EBITDA is calculated as divested operation contribution minus certain direct Selling, General, and Administrative expenses. It excludes allocations for corporate support services and other indirect costs that benefited the business.
Page 35
35 © 2026 Gartner, Inc. and/or its affiliates. All rights reserved. Financial Outlook Reconciliation: GAAP Diluted EPS to Adjusted EPS 2026 Guidance GAAP Diluted EPS (a) ≥$ 13.14 Adjustments (after-tax): Amortization of acquired intangibles ~ 0.86 Workforce reduction expenses and other non-recurring items (b) ~ 0.06 Gain from sale of divested operation (c) ~ (0.06) Adjusted EPS (a) ≥$ 14.00 (a) GAAP Diluted EPS and Adjusted EPS are calculated based on approximately 66M of diluted shares for 2026. (b) Consists of workforce reduction expenses, direct and incremental expenses related to acquisitions and divestitures, facility-related exit costs and other non-recurring items, if applicable. Includes the amortization of deferred financing fees, which are recorded in Interest expense, net in the (Condensed) Consolidated Statements of Operations. (c) Consists of the gain from the February 2026 sale of our divested operation. Financial Outlook Reconciliation: GAAP Cash Provided by Operating Activities to Free Cash Flow: ($ in millions) 2026 Guidance GAAP cash provided by operating activities ≥$ 1,285 Capital expenditures ~ (100) Free Cash Flow ≥$ 1,185 Non-GAAP Reconciliations - 2026 Guidance