Recurring variable revenue — Revenue
S&P Global Recurring variable revenue — Revenue remained flat by 0.0% to $158.00M in Q3 2025 compared to the prior quarter. Year-over-year, this metric grew by 11.3%, from $142.00M to $158.00M. Over 2 years (FY 2022 to FY 2024), Recurring variable revenue — Revenue shows an upward trend with a 22.6% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase suggests higher customer engagement and platform utilization, while a decrease may indicate reduced market activity or a shift toward purely fixed-fee contracts. Sustained growth in this category often signals strong product-market fit and high operational leverage.
Detailed definition
This metric represents the portion of revenue derived from contracts that feature a recurring base component combined wi...
Peer comparison
Comparable to usage-based subscription models or 'land-and-expand' revenue streams seen in financial data providers, SaaS platforms, and transaction-based information services.
spgi_segment_recurring_variable_revenue_revenueHistorical Data
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $40.00M | $121.00M | $115.00M | $109.00M | $125.00M | $130.00M | $125.00M | $124.00M | $141.00M | $147.00M | $142.00M | $149.00M | $150.00M | $158.00M | $158.00M |
| QoQ Change | — | +202.5% | -5.0% | -5.2% | +14.7% | +4.0% | -3.8% | -0.8% | +13.7% | +4.3% | -3.4% | +4.9% | +0.7% | +5.3% | +0.0% |
| YoY Change | — | — | — | — | +212.5% | +7.4% | +8.7% | +13.8% | +12.8% | +13.1% | +13.6% | +20.2% | +6.4% | +7.5% | +11.3% |
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Frequently Asked Questions
- What is S&P Global's recurring variable revenue — revenue?
- S&P Global (SPGI) reported recurring variable revenue — revenue of $158.00M in Q3 2025.
- How has S&P Global's recurring variable revenue — revenue changed year-over-year?
- S&P Global's recurring variable revenue — revenue increased by 11.3% year-over-year, from $142.00M to $158.00M.
- What is the long-term trend for S&P Global's recurring variable revenue — revenue?
- Over 2 years (2022 to 2024), S&P Global's recurring variable revenue — revenue has grown at a 22.6% compound annual growth rate (CAGR), from $385.00M to $579.00M.
- What does recurring variable revenue — revenue mean?
- Revenue generated from contracts that combine a fixed subscription fee with additional charges based on actual usage or transaction volume.