What NIQ Global Intelligence (NIQ) Said on Its Q3 Earnings Call

Key Points

• NIQ raised its 2026 outlook after third-quarter revenue grew 6.3% and adjusted EBITDA rose 17.8% to $264 million. It reported its first positive quarterly GAAP EPS since its IPO, at $0.12 per share.
• AI and the Google partnership are emerging growth opportunities. NIQ expects AI products to add about 0.1 percentage point to 2026 growth, has 100 qualified proof-of-concept opportunities, and plans to integrate data on more than 265 million products into Google’s Shopping Graph.
• Americas growth led the regions at 11.5% organically, while net debt fell to $3 billion and leverage reached 2.9 times. NIQ raised its 2026 revenue-growth forecast to 5.5%–5.7% and adjusted EPS forecast to $1.16–$1.20.

NIQ Global Intelligence NYSE: NIQ raised its full-year 2026 outlook after reporting its first positive quarterly earnings per share under generally accepted accounting principles since its initial public offering, as revenue growth and cost savings helped expand margins.

The consumer intelligence company also highlighted a new partnership with Google and early revenue from artificial intelligence products. CEO Jim Peck said NIQ expects its new AI solutions to contribute about 0.1 percentage point to growth in 2026 and potentially 0.25 to 0.5 percentage point in 2027. The company did not issue formal 2027 guidance.

Third-quarter reported revenue rose 6.3%, while organic constant-currency revenue increased 5.8%. Adjusted earnings before interest, taxes, depreciation and amortization rose 17.8% to $264 million, and the adjusted EBITDA margin expanded 230 basis points to 23.6%.

Net income was $36 million, or $0.12 per share, while adjusted earnings per share were $0.30. CFO Mike Burwell said lower interest and stock compensation expenses, higher operating income, and gains from acquisition and deconsolidation activities contributed to the GAAP result. Earnings would have remained positive without the one-time items, he said.

Americas Leads Regional Growth

Americas revenue rose 11.5% on an organic constant-currency basis to $463 million. Peck cited wins with retailers, including a collaboration with convenience-store operator Maverik covering more than 830 stores in 20 states.

Revenue in Europe, the Middle East and Africa grew 2.9% organically to $491.2 million. Burwell said pricing and sales of NIQ’s Full View offerings more than offset softer demand for ad hoc projects amid the Middle East conflict. In the Asia-Pacific region, revenue rose 0.2% organically to $164.9 million, against what management described as a difficult year-earlier comparison.

By product, intelligence revenue grew 5.5%, while activation revenue rose 7%. Annualized intelligence subscription revenue reached $3.1 billion, with net dollar retention of 105% and gross dollar retention of 99%, Burwell said.

AI Products and Google Partnership

Peck said nearly 60% of NIQ’s top 100 clients buy at least one AI-powered application. The company has secured 10 charter commitments for AI Builder, including from Mars Snacking and Purina, and is earning revenue from the initial projects.

In prepared remarks, Peck cited 79 qualified proof-of-concept opportunities in the pipeline. During the question-and-answer session, he said that number had risen to 100. He said the initial engineering engagements tap new client budgets rather than cannibalizing existing sales.

Chief AI and Product Officer Troy Treangen said completed engagements could lead to additional data licensing, ongoing transaction fees and expansion into other client uses. Peck said NIQ sees a potential $500 million to $1 billion growth opportunity from accessing manufacturers’ technology budgets, though he did not provide a timetable.

Under the Google partnership, NIQ plans to integrate product data covering more than 265 million products in 90 countries into Google’s Shopping Graph. The initial objective is to improve product discovery and local availability, Peck said.

Treangen said Google licenses additional NIQ data and that the companies are working on further product opportunities. NIQ also plans to measure sales across AI shopping channels and use that information in products for manufacturers and retailers.

Higher Outlook and Lower Leverage

For 2026, NIQ raised its forecast to organic constant-currency revenue growth of 5.5% to 5.7% and adjusted EBITDA growth of 16% to 17%. It expects adjusted earnings of $1.16 to $1.20 per share and levered free cash flow of $249 million to $257 million.

For the fourth quarter, the company forecast organic constant-currency growth of 5.4% to 5.7%. Burwell noted that the period typically has a higher proportion of harder-to-forecast ad hoc activation work and faces a comparison with a large prior-year retailer collaboration win.

Third-quarter levered free cash flow was $181 million, bringing the year-to-date total to $132 million. Net debt declined to $3 billion, and net leverage reached 2.9 times, below the company’s three-times milestone a quarter ahead of schedule.

NIQ has authorized $150 million in share repurchases, but Burwell said deleveraging remains a top priority and that the company would be opportunistic with buybacks. He said nothing was expected to happen immediately under the authorization.

About NIQ Global Intelligence (NYSE:NIQ)

NIQ Global Intelligence, Inc. NYSE: NIQ, also known as NielsenIQ, provides consumer and retail intelligence to manufacturers and retailers. Its services include retail measurement, consumer and shopper insights, market research, and data analytics designed to help clients understand purchasing behavior, track product performance, and inform business decisions. The company combines information from retail sales, consumer panels, and other sources to deliver analysis across product categories and markets.

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