| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Corporate and Other | $4.4M | $4.8M | $4.9M | $5.1M | $4.8M | $4.3M | $4.1M | $9.9M |
| Morningstar Data and Analytics Segment | $9.5M | $9.8M | $10.4M | $10.8M | $11.2M | $11.3M | $11.4M | $9.5M |
| PitchBook Segment | $8.3M | $7.6M | $8.5M | $7.8M | $8.1M | $8.7M | $9M | $7.9M |
| Morningstar Retirement Segment | $2.6M | $2.2M | $2.4M | $2.6M | $2.7M | $2.6M | $2.5M | $2.3M |
| Morningstar Credit Segment | $5M | $4.3M | — | $4.5M | $4.4M | $3M | — | $1.6M |
| Morningstar Wealth Segment | $1.7M | $2.2M | $12.7M | $2M | $2M | $2M | $8.9M | $1.4M |
| Total | $49.1M | $45.7M | $48.4M | $47.3M | $48.5M | $47M | $47.1M | $51.7M |