NIQ Global Intelligence Raises 2026 Outlook as Cash Flow Inflects
Annualized Intelligence Subscription revenue surpassed $3 billion for the first time in the second quarter.
NIQ Global Intelligence (NIQ), the consumer intelligence provider, reported second-quarter revenue of $1,124.2 million. The result represented an 8.0% increase year-over-year, though growth slowed from the 11.1% rate recorded in the first quarter.
Underlying momentum shifted toward organic growth. Organic constant currency (OCC) revenue rose 5.8% in the second quarter, an acceleration from the 5.1% growth seen in the prior quarter. This trend was mirrored across its primary segments, with Intelligence OCC revenue growth rising to 5.7% from 5.1% and Activation OCC revenue growth increasing to 6.1% from 5.3%.
Subscription scale reached a new milestone as annualized Intelligence Subscription revenue grew 5.8% to $3,017.6 million. The company also saw a recovery in the APAC region, where reported revenue returned to growth with a 1.9% OCC increase, reversing a 0.8% OCC decline seen during the six months ended June 30, 2025.
Profitability and cash generation improved. Adjusted EBITDA margin expanded 270 basis points year-over-year to 23.3%, following a 150 basis point expansion to 21.0% in the first quarter. Levered free cash flow inflected to a positive $74.1 million, compared to a loss of $63.2 million in the same period last year.
Following these results, the company raised its full-year 2026 OCC revenue growth guidance to a range of 5.2% to 5.6% from 5.0% to 5.3%. It also increased its Adjusted EBITDA margin guidance to 23.5% to 23.9% and raised its levered free cash flow outlook to between $245 million and $255 million.
Operational metrics showed an increase in data processing and client satisfaction. The AI-powered Connect data engine add rate grew 23% year-over-year to 4.3 trillion records per week. Additionally, the Client Net Promoter Score rose 7 points from June 2025 to reach a high of 52 in June 2026.
NIQ incurred approximately $70 million in restructuring charges year-to-date as part of a program targeting $70 million to $80 million in annualized cost savings. S&P Global Ratings upgraded the company's credit rating to B+ from B, citing improved cash generation.