SS&C(SSNC)2025-02-06 21:17Financial Performance - Q4 2024 GAAP revenue reached $1,529.7 million, an increase of 8.4% compared to Q4 2023[2] - Adjusted revenue for Q4 2024 was $1,530.7 million, also up 8.4% year-over-year[2] - Q4 2024 diluted earnings per share attributable to SS&C was $0.98, reflecting a 27.3% increase from $0.77 in Q4 2023[2] - SS&C achieved a record adjusted consolidated EBITDA of $599.1 million in Q4 2024, up 6.5% from the previous year[4] - Total revenues for Q4 2024 reached $1,529.7 million, a 8.4% increase from $1,411.6 million in Q4 2023[14] - Adjusted operating income for Q4 2024 was $582.9 million, compared to $546.0 million in Q4 2023, marking a 6.7% increase[25] - Net income for Q4 2024 was $248.4 million, up from $194.9 million in Q4 2023, representing a growth of 27.4%[28] - GAAP net income for Q4 2024 was $248.4 million, up from $194.9 million in Q4 2023, representing a 27.4% increase[31] - Adjusted net income for the twelve months ended December 31, 2024, reached $1,377.1 million, compared to $1,187.6 million in 2023, reflecting a 15.9% growth[31] Revenue Breakdown - Software-enabled services revenue was $1,254.0 million, up 9.5% from $1,145.5 million year-over-year[14] - License, maintenance, and related revenue for Q4 2024 was $275.7 million, up from $266.1 million in Q4 2023, reflecting a growth of 3.6%[23] - Q4 2024 adjusted organic revenue growth was 7.0%, with financial services recurring revenue growth at 7.4%[4] - Adjusted revenues for the full year 2024 were $5,885.7 million, up from $5,505.8 million in 2023, reflecting a growth of 6.9%[23] Cash Flow and Assets - The company reported a net cash from operating activities of $1,388.6 million for the twelve months ended December 31, 2024, a 14.3% increase from 2023[5] - Cash flow from operating activities for the year was $1,388.6 million, up from $1,215.1 million in 2023[18] - Total assets increased to $19,044.7 million in 2024, compared to $18,102.5 million in 2023[16] - Cash and cash equivalents at the end of the period were $567.1 million, up from $432.2 million in 2023[19] Shareholder Returns - SS&C repurchased 4.9 million shares for $365.7 million in Q4 2024, at an average price of $74.46 per share[4] - Basic earnings per share attributable to SS&C common stockholders increased to $3.09, compared to $2.45 in the previous year[14] - Adjusted diluted earnings per share attributable to SS&C for Q4 2024 increased to $1.12, compared to $0.95 in Q4 2023[30] - Adjusted diluted earnings per share attributable to common stockholders increased to $1.58 in Q4 2024 from $1.26 in Q4 2023, a rise of 25.4%[31] Liabilities and Equity - Total liabilities increased to $12,435.6 million, compared to $11,704.8 million in 2023[16] - Goodwill rose to $9,218.1 million, an increase from $8,969.5 million year-over-year[16] Guidance and Expectations - For Q1 2025, SS&C expects adjusted revenue between $1,474.0 million and $1,514.0 million[6] - The guidance for FY 2025 adjusted revenue is projected to be between $6,085.0 million and $6,245.0 million[6] Other Financial Metrics - The company reported a comprehensive income of $645.6 million for the year, compared to $730.9 million in 2023[14] - EBITDA for the full year 2024 was $2,025.7 million, compared to $1,997.9 million in 2023, indicating a 1.4% increase[28] - The effective tax rate for adjusted net income was revised to 15.1% for Q4 2024, compared to approximately 26% for the same period in 2023[32] Expenses and Costs - Stock-based compensation expenses increased to $55.4 million in Q4 2024 from $41.9 million in Q4 2023, marking a 32.9% increase[31] - Facilities and workforce restructuring costs were reported at $7.8 million for Q4 2024, down from $14.3 million in Q4 2023, indicating a 45.5% decrease[31] - The company experienced a loss on extinguishment of debt amounting to $1.1 million in Q4 2024, compared to $1.0 million in Q4 2023[31] - The company reported a total amortization of intangible assets of $157.5 million for Q4 2024, slightly up from $151.3 million in Q4 2023[31] Foreign Currency Impact - The company reported foreign currency translation gains of $6.6 million in Q4 2024, compared to losses of $3.9 million in Q4 2023[31] Share Count - The diluted weighted-average shares outstanding were 254.5 million in Q4 2024, slightly up from 252.1 million in Q4 2023[31]