COLUMBUS, Ohio, Aug. 14, 2024 (GLOBE NEWSWIRE) -- McGraw Hill today reported financial results for the first quarter of fiscal year 2025, which ended June 30, 2024. Total billings increased 22% to $578 million in the quarter versus prior year driven by a robust market opportunity, with strong win rates within K-12 and continued digital growth within Higher Education. Adjusted EBITDA rose to $241 million, up 67% versus prior year due to strong billings flow through and margin improvement as the company continues its focus on efficiency in how it operates and delivers content. Digital billings increased 30% versus prior year to $324 million, and comprised 56% of total billings compared to 53% in the first quarter of fiscal 2024. Higher Education digital billings increased 15% above prior year, comprising 94% of total Higher Education billings. The company continued to see growth in users across its core Connect and ALEKS learning platforms with combined 14% and 8% growth in paid activations and unique users, respectively. "We're off to an exceptional start in fiscal year 2025, delivering one of our best first quarters on record," said Simon Allen, CEO of McGraw Hill. ...