[Earnings Release Summary](index=1&type=section&id=Earnings%20Release%20Summary) [Financial Highlights](index=1&type=section&id=Financial%20Highlights) SS&C reported record first-quarter 2025 results, demonstrating significant growth in GAAP and adjusted revenue and earnings, alongside robust operating cash flow and strategic capital management Q1 2025 Financial Performance vs. Q1 2024 | (in millions, except per share data) | 2025 | 2024 | Change | | :--- | :--- | :--- | :--- | | **GAAP Results** | | | | | Revenue | $1,513.9 | $1,435.0 | 5.5% | | Operating income | 357.9 | 332.9 | 7.5% | | Diluted earnings per share attributable to SS&C | $0.84 | $0.62 | 35.5% | | Net income attributable to SS&C | 213.0 | 157.6 | 35.2% | | **Adjusted Non-GAAP Results** | | | | | Adjusted revenue | $1,514.8 | $1,435.8 | 5.5% | | Adjusted operating income attributable to SS&C | 575.3 | 540.0 | 6.5% | | Adjusted diluted earnings per share attributable to SS&C | $1.44 | $1.33 | 8.3% | | Adjusted consolidated EBITDA attributable to SS&C | 591.9 | 556.8 | 6.3% | - Q1 Adjusted Organic Revenue Growth was **5.1%**, and Financial Services Recurring Revenue Growth was **5.9%**[5](index=5&type=chunk) - Generated net cash from operating activities of **$272.2 million**, a **50.8% increase** compared to the same period in 2024[5](index=5&type=chunk) - In Q1 2025, the company repurchased **2.4 million shares** for **$206.9 million** and paid down **$155.0 million** in debt, resulting in a net leverage ratio of **2.74 times** consolidated EBITDA[5](index=5&type=chunk) [CEO's Statement](index=1&type=section&id=CEO's%20Statement) CEO Bill Stone highlighted record first-quarter adjusted revenues and EBITDA, attributing success to strategic investments and expanded capabilities while emphasizing the company's readiness to leverage AI and Quantum technologies for future growth - CEO Bill Stone announced record first-quarter adjusted revenues of **$1,514.8 million** and adjusted consolidated EBITDA of **$591.9 million**[4](index=4&type=chunk) - The company is actively embedding AI and Quantum technologies into its products and services, anticipating large-scale transformation in its key markets[4](index=4&type=chunk) [Operating Cash Flow and Debt](index=2&type=section&id=Operating%20Cash%20Flow%20and%20Debt) The company generated $272.2 million in net cash from operating activities, a 50.8% increase year-over-year, maintaining a strong cash position and a consolidated net leverage ratio of 2.74 times consolidated EBITDA as of March 31, 2025 - Net cash from operating activities for the three months ended March 31, 2025, increased by **50.8%** to **$272.2 million** from **$180.5 million** in the prior year[6](index=6&type=chunk) Cash and Debt Position (as of March 31, 2025) | Metric | Value (in millions) | | :--- | :--- | | Cash and cash equivalents | $515.0 | | Gross debt | $6,892.8 | | Consolidated net leverage ratio | 2.74x | | Net secured leverage ratio | 1.57x | [Financial Guidance](index=2&type=section&id=Financial%20Guidance) SS&C provided its financial outlook for Q2 and full fiscal year 2025, projecting adjusted revenues and diluted EPS within specified ranges Q2 2025 and Full Year 2025 Guidance | Metric | Q2 2025 | FY 2025 | | :--- | :--- | :--- | | Adjusted Revenue ($M) | $1,489.0 – $1,529.0 | $6,118.0 – $6,238.0 | | Adjusted Net Income attributable to SS&C ($M) | $343.4 – $359.4 | $1,441.0 – $1,541.0 | | Adjusted Diluted EPS attributable to SS&C | $1.35 – $1.41 | $5.68 – $6.00 | | Cash from Operating Activities ($M) | – | $1,458.0 – $1,558.0 | - SS&C does not provide reconciliations of its adjusted revenue and net income guidance to comparable GAAP measures, citing the unreasonable efforts required to forecast certain items like acquisitions, foreign exchange changes, and other adjustments[7](index=7&type=chunk) [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) [Condensed Consolidated Statements of Comprehensive Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Total revenues for Q1 2025 increased to $1,513.9 million, primarily driven by software-enabled services, leading to a significant rise in net income and diluted earnings per share attributable to SS&C common stockholders Q1 2025 Income Statement Highlights (in millions) | Line Item | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total revenues | $1,513.9 | $1,435.0 | | *Software-enabled services* | *$1,269.9* | *$1,187.7* | | Gross profit | $747.1 | $707.2 | | Operating income | $357.9 | $332.9 | | Net income attributable to SS&C | $213.0 | $157.6 | | Diluted EPS attributable to SS&C | $0.84 | $0.62 | [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, SS&C's total assets and liabilities increased, primarily driven by client funds, while total equity also grew Balance Sheet Summary (in millions) | Line Item | March 31, 2025 | Dec 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $515.0 | $567.1 | | Total current assets | $6,241.9 | $4,862.4 | | Goodwill | $9,283.9 | $9,218.1 | | Total assets | $20,404.9 | $19,044.7 | | Long-term debt, net | $6,837.0 | $6,989.6 | | Total liabilities | $13,545.1 | $12,435.6 | | Total SS&C stockholders' equity | $6,785.4 | $6,534.9 | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) The company generated substantial net cash from operating activities in Q1 2025, with investing activities using cash and financing activities providing a net inflow, influenced by client funds and capital management Cash Flow Summary (in millions) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $272.2 | $180.5 | | Net cash used in investing activities | ($63.3) | ($50.6) | | Net cash provided by (used in) financing activities | $935.3 | ($835.9) | | Net increase (decrease) in cash | $1,148.1 | ($709.8) | - Key financing activities in Q1 2025 included **$175.0 million** in debt repayments and **$206.9 million** in common stock repurchases[17](index=17&type=chunk) [Non-GAAP Financial Measures Reconciliation](index=9&type=section&id=Non-GAAP%20Financial%20Measures%20Reconciliation) [Note 1. Reconciliation of Revenues to Adjusted Revenues](index=9&type=section&id=Note%201.%20Reconciliation%20of%20Revenues%20to%20Adjusted%20Revenues) This section reconciles GAAP revenues to adjusted revenues, primarily through purchase accounting adjustments for deferred revenue impacted by fair value adjustments at acquisition Reconciliation of Revenues to Adjusted Revenues (in millions) | | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Revenues (GAAP) | $1,513.9 | $1,435.0 | | Purchase accounting adjustments impact on revenue | $0.9 | $1.6 | | ASC 606 adoption impact | $— | ($0.8) | | **Adjusted revenues** | **$1,514.8** | **$1,435.8** | [Note 2. Reconciliation of Operating Income to Adjusted Operating Income](index=10&type=section&id=Note%202.%20Reconciliation%20of%20Operating%20Income%20to%20Adjusted%20Operating%20Income) GAAP operating income is reconciled to adjusted operating income attributable to SS&C, with primary adjustments including amortization of intangible assets and stock-based compensation Reconciliation to Adjusted Operating Income (in millions) | | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Operating income (GAAP) | $357.9 | $332.9 | | Amortization of intangible assets | $153.0 | $147.6 | | Stock-based compensation | $52.7 | $45.1 | | Other adjustments | $12.6 | $15.5 | | **Adjusted operating income attributable to SS&C** | **$575.3** | **$540.0** | [Note 3. Reconciliation of Net Income to EBITDA, Consolidated EBITDA and Adjusted Consolidated EBITDA](index=11&type=section&id=Note%203.%20Reconciliation%20of%20Net%20Income%20to%20EBITDA%2C%20Consolidated%20EBITDA%20and%20Adjusted%20Consolidated%20EBITDA) This note details the reconciliation from GAAP Net Income to Adjusted Consolidated EBITDA, incorporating adjustments for interest, taxes, depreciation, amortization, stock-based compensation, and other non-recurring items Reconciliation to Adjusted Consolidated EBITDA (in millions) | | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income (GAAP) | $213.2 | $158.0 | | Interest expense, net | $105.2 | $116.0 | | Provision for income taxes | $48.1 | $66.7 | | Depreciation and amortization | $170.8 | $165.5 | | **EBITDA** | **$537.3** | **$506.2** | | Stock-based compensation & other adjustments | $55.6 | $51.7 | | **Adjusted Consolidated EBITDA attributable to SS&C** | **$591.9** | **$556.8** | [Note 4. Reconciliation of Net Income to Adjusted Net Income and Diluted Earnings Per Share](index=12&type=section&id=Note%204.%20Reconciliation%20of%20Net%20Income%20to%20Adjusted%20Net%20Income%20and%20Diluted%20Earnings%20Per%20Share) This section reconciles GAAP Net Income and diluted EPS to their adjusted counterparts, accounting for amortization, stock-based compensation, and other specific adjustments Reconciliation to Adjusted Net Income and EPS (in millions, except per share) | | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net Income (GAAP)** | **$213.2** | **$158.0** | | Amortization of intangible assets | $153.0 | $147.6 | | Stock-based compensation | $52.7 | $45.1 | | Income tax effect & other adjustments | ($51.2) | ($13.3) | | **Adjusted net income attributable to SS&C** | **$366.4** | **$336.3** | | **Diluted EPS (GAAP)** | **$0.84** | **$0.62** | | **Adjusted diluted EPS** | **$1.44** | **$1.33** |

Core Insights - SS&C Technologies has been selected by Aquilius Investment Partners as a fund administrator, highlighting SS&C's expanding presence in the Asia-Pacific private markets [1][2] - Aquilius aims to enhance liquidity in Asia's private capital markets and has a strong partnership approach, leveraging local knowledge and execution capabilities [2] - The partnership will enable SS&C to provide comprehensive services including administration, compliance, and treasury management to Aquilius [3] Company Overview - Aquilius, established in 2021, specializes in secondaries solutions in the Asia-Pacific region and has over US$1.4 billion in assets under management from institutional clients [4] - SS&C Technologies, founded in 1986, is a global provider of services and software for financial services and healthcare industries, serving over 22,000 organizations worldwide [5]

Core Insights - The core viewpoint of the article emphasizes that governance, process orchestration, and strategic planning are essential for successful AI implementation [1][2]. AI Adoption and Trust - 29% of respondents have adopted autonomous automation, with an additional 44% planning to implement it within the next year; however, 78% do not fully trust the technology, indicating a need for additional checks and balances [4]. Challenges in AI Implementation - The top challenge hindering AI adoption is security and compliance concerns, cited by 37% of respondents, followed by skills and expertise shortages at 35%, and integration and migration complexities also at 35% [5]. Importance of Process Orchestration - Nearly 94% of respondents highlighted the significance of process orchestration as a fundamental component of the technology stack for seamless AI management [8]. Data Management Issues - 44% of organizations reported a lack of systems to effectively handle large data sets, while 41% faced challenges with inaccurate and inconsistent data [8]. Workforce Transformation - 84% of business leaders acknowledge AI's potential to disrupt traditional practices, with around 40% of businesses actively upskilling employees for new or expanded roles [8]. Career Growth Opportunities - AI implementation is creating new career growth opportunities, with 40% of employees expecting new AI-specific jobs, 34% focusing on assisting AI adoption, and 31% engaging in more creative and strategic work [8]. Measuring AI Value - While 88% of organizations are measuring the value derived from AI, only 36% reported consistent, recognizable value from their AI implementations, indicating a need for refined adoption strategies [8].

Core Viewpoint - The launch of the ALPS Electrification Infrastructure ETF (Nasdaq: ELFY) by SS&C ALPS Advisors in partnership with Ladenburg Thalmann Index reflects a significant commitment to electrification infrastructure investment in the U.S., which is seen as a durable investment theme in the current market [1][2]. Company Overview - SS&C ALPS Advisors is a wholly-owned subsidiary of SS&C Technologies Holdings, Inc., and specializes in providing investment products for advisors and institutions, managing over $28.62 billion as of March 31, 2025 [15]. - Ladenburg Thalmann Index, LLC focuses on thematic index-based concepts and has created the Ladenburg Thalmann Electrification Infrastructure Index (LTELFYX) to track companies benefiting from electrification [16]. Fund Details - The ALPS Electrification Infrastructure ETF aims to provide exposure to publicly listed mid- and large-cap companies involved in electrification, including electricity generation, transmission, distribution, and smart grid technologies [3][7]. - The fund employs a passive management approach, seeking to track the performance of its underlying index before fees and expenses [11][12]. - The fund is designed to be an equal-weighted, sector-diverse investment vehicle, allowing investors to participate in the growth of electrification in the U.S. [4]. Market Context - There is a multi-decade commitment from both government and industry in the U.S. towards electrification infrastructure, indicating a long-term growth opportunity in this sector [2]. - The electrification trend is characterized as a seismic shift in electricity demand growth, suggesting significant potential for companies involved in this space [4].

Core Insights - SS&C Technologies Holdings, Inc. has extended its transfer agency agreement with T. Rowe Price for its U.K. fund range, managing approximately £1.5 billion in assets [1] Group 1: Partnership Details - T. Rowe Price has praised SS&C's distribution solutions for providing best-in-class technology and servicing in the U.K., highlighting the platform's trading and settlement functionality [2] - SS&C administers 21 of T. Rowe's active funds, focusing on distributors and nominees, and offers services such as straight-through processing of trades and comprehensive reporting [2] Group 2: Company Background - T. Rowe Price, founded in 1937, manages US $1.61 trillion in assets as of December 31, 2024, with about two-thirds of these assets being retirement-related [3] - SS&C Technologies, established in 1986, serves over 22,000 financial services and healthcare organizations globally, providing expertise, scale, and technology [4]

Core Insights - SS&C Technologies Holdings, Inc. is expanding its global presence by opening a new office in Riyadh, Saudi Arabia, to enhance relationships with local financial authorities [1][3] - The company serves 850 financial institutions and corporate clients in the Middle East, with 150 clients located in Saudi Arabia [2] - The new office aims to leverage the opportunities presented by Saudi Arabia's Vision 2030 economic transformation program, which is expected to involve over $3 trillion in investments [3] Company Overview - SS&C Technologies is a global provider of services and software for the financial services and healthcare industries, founded in 1986 and headquartered in Windsor, Connecticut [4] - The company supports more than 22,000 financial services and healthcare organizations, ranging from large corporations to small and mid-market firms [4]

Core Viewpoint - SS&C Technologies Holdings, Inc. will announce its financial results for the first quarter of 2025 on April 24, 2025, after market close [1] Group 1: Financial Results Announcement - The earnings conference call is scheduled for April 24, 2025, at 5:00 p.m. Eastern Time to discuss the first quarter 2025 results [1][2] - The earnings release will be available on PR Newswire and SS&C's website [2] Group 2: Conference Call Details - Participants can join the earnings call by dialing 888-210-4650 (US and Canada) or 646-960-0327 (International) with conference ID 4673675 [2] - A live webcast of the earnings conference call will be available on SS&C's Investor Relations section, with a replay accessible after the live event [3] Group 3: Company Overview - SS&C Technologies is a global provider of services and software for the financial services and healthcare industries, founded in 1986 and headquartered in Windsor, Connecticut [3] - The company serves over 22,000 financial services and healthcare organizations, ranging from large corporations to small and mid-market firms [3]

WINDSOR, Conn., March 25, 2025 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Principal Asset Management has extended its transfer agency relationship with SS&C. Principal Asset Management is the investment management division of Principal Financial Group (Nasdaq: PFG). SS&C Global Investor & Distribution Solutions will provide a full range of fund services to Principal's 114 mutual funds comprised of 467 mutual and retail alternatives share classes, with approximately ...

Group 1 - SS&C Technologies has partnered with ARS to distribute and service its Lifetime Income Builder retirement products on the RICC platform, enhancing access to guaranteed lifetime income solutions for the defined contribution market [1][2][5] - The Lifetime Income Builder offers group fixed indexed annuities with a guaranteed lifetime withdrawal benefit, aimed at providing participants with easy-to-use, professionally managed portfolios [2][3] - The integration of ARS's solutions with SS&C's RICC platform will streamline fund administration and broaden distribution opportunities for recordkeepers, making lifetime income solutions more accessible [4][5] Group 2 - ARS, founded in 2020, focuses on innovative lifetime income solutions and is led by a team with 175 years of combined experience in retirement plans and asset management [6] - The company’s patent-pending design, Lifetime Income Builder, integrates lifetime income into target date funds while preserving their core benefits, addressing the retirement income challenge [6] - SS&C Technologies, established in 1986, provides services and software for financial services and healthcare industries, serving over 22,000 organizations globally [7]

Core Viewpoint - The company SS&C Technologies Holdings, Inc. is reaffirmed as a strong investment opportunity, being the largest global provider of software and technology-enabled services for the financial services and healthcare industries [1]. Company Summary - SS&C Technologies has shown stronger performance since the last analysis, indicating positive growth and potential for investors [1]. - The company operates primarily in the technology, infrastructure, and internet services sectors, focusing on firms with solid fundamentals and growth potential [1]. Analyst Background - The analyst has a robust background in financial modeling, valuation, and data analysis, holding certifications in Financial Modeling & Valuation Analyst and Business Intelligence & Data Analyst [1]. - The analyst expresses a keen interest in the stock market as a means to grow wealth and aims to provide valuable insights to readers and investors interested in long-term investing [1].