As Matt noted, US fall enrollment grew for the first time since endemic. Professional declined 3% in the quarter driven by softness in business and technology publishing categories. For the year, we continue to see outperformance in learning. On top of that as Matt discussed, we’re beginning to monetize our learning content for AI models and training engines, showcasing the value of our authoritative content in advancing the evolution of AI. Adjusted EBITDA from learning remains a positive story, up 15% this quarter and year-to-date with revenue growth and restructuring savings as the primary drivers. Our Q3 adjusted EBITDA margin was 35%, up from 31% in the prior period. Now let me touch on our corporate expenses. We saw a $4 million increase over prior year due to unfavorable comps, notably the materially lower incentive accrual in the prior year period.
This offset restructuring savings. As noted, we expect corporate expenses to be up moderately this transition year due to the continued carrying costs related to our held-for-sale assets. As we transition out of these assets and further optimize our cost structure, we’ll see our cost ratios improve next year and beyond. Now on to our cash flow and balance sheet. Free cash flow for the nine months was a use of $45 million compared to a use of $22 million in the prior year. The negative variance was driven by the timing of closing journal subscription renewal and the higher restructuring payments related to our value creation plan. CapEx of $70 million is tracking $5 million below prior year. We expect to close the remaining journal subscription renewals in Q4 and remain on track to deliver approximately $100 million of free cash flow for the full year.
Year-to-date, we allocated $87 million towards dividends and share repurchases with share repurchases being $5 million higher than prior year. $29 million was used to acquire 872,000 shares at an average cost per share of $33.24. This compares to 540,000 shares repurchased in the prior year period. Our current dividend yields remained above 4%. Net debt-to-EBITDA ratio was 1.9 at the end of January, compared to 2.1 in the prior year period. Through the fiscal 2025, 20’26 plan period, we’re going to continue to manage down debt and interest expense while balancing other capital priorities including investing in scale in research, repurchasing shares opportunistically and supporting a healthy dividend. Note we have reduced our net debt by over $21 million compared to the prior year period.
Our upfront cash proceeds from the divestitures are not material, although we fully expect to collect the cash from the notes over time with interest. Let’s turn to our full year outlook with one quarter remaining. We see adjusted revenue trending upward in the mid to high end of our range. This is driven by learning outperformance throughout the year, augmented by the learning content rights deal expected in Q4. We are raising our adjusted EBITDA guidance to be in a range of $335 million to $355 million, up from the original $305 million to $330 million. Our improved outlook reflects the $15 million of additional in-year cost savings from our value creation plan and a full year outperformance in learning including the Q4 content deal. We’re now projecting a full year EBITDA margin of 21% to 22% and an increase from the previously projected 19% to 20%.
To refresh, we continue to expect to more than recover our fiscal 2023 adjusted EBITDA margin of 23.3% as we exit fiscal 2024. We’re also raising our adjusted EPS guidance to a range of $2.45 to $2.65, up from $2.05 to $2.40, due to a higher-than-expected adjusted operating income and accrued interest income from our University Services divestiture. We expect free cash flow to be approximately $100 million in this transition year. This summer is unusually low for Wiley, given the combination of lower cash earnings, higher restructuring payments and higher interest payments. As laid out in January, we’re targeting significant free cash flow improvement in fiscal 2025 and again in fiscal 2026. In summary, I’m very pleased with how we as an organization are executing on multiple levels while tackling our cost structure.
As we make our way into fiscal 2025 and through 2026, we’re confident in our ability to deliver on our revenue, our margin expansion and our cash flow trajectory. And with that I’ll pass it back to Matt.
Matt Kissner: Thank you, Christina. Let me recap some personal observations I’ve had so far. Wiley is a terrific company. Yes, we’re coming out of a difficult period, but refocusing on our core makes us a stronger, more profitable company and presents a very rich set of opportunities to build on. Our businesses are fundamentally strong, built on long-term relationships with research institutions, academic societies and R&D-driven corporations. We have a unique right to win in Research, driven by a wide moat, built around the enduring draw of our journal brands and platforms and a strong position in learning built on our content, library and franchises. Our markets are healthy. Global R&D spend is ever increasing, as is the demand for new knowledge in the verticals we serve.
Very importantly, the name Wiley means something special to our customers. It’s why we’re trusted by the most prestigious universities and societies in the world, Nobel Prize-winning authors and major pharmaceutical companies. We have an absolutely terrific team. Our global colleagues are reinvigorated by our move to a simpler, more confident Wiley and are empowered now to identify incremental growth opportunities and better ways of working. I recently returned from India, where we have a publishing operation and Sri Lanka, where we have a world-class tech development and IT center. As with my November visit to our European offices, I find our culture to be reenergized by our increased focus and momentum. And finally, what we do is good for the world.
This is not a slogan. We are actively contributing to major scientific and economic progress as well as the everyday progress of the individual. This mission energizes Wiley colleagues across the globe. Let me quickly summarize the key takeaways. We’re pleased with the improvement and underlying momentum we’re seeing in Research and our continued outperformance in Learning. We remain relentlessly focused on execution. We’re being fanatical about prioritization and blocking and tackling. I’m seeing early signs of progress already. There’s just an increasing sense of confidence and a thoughtful sense of urgency in the place. That said, we’re still in a transition year. Although, we’ve made good progress overall, and see our core drivers rebounding and earnings guidance raised, we still have important work in front of us.
