Financial Data and Key Metrics Changes - Organic ASV grew by $22.6 million in Q3 2025, representing a 4.5% year-over-year increase [28] - GAAP revenues increased by 5.9% year-over-year, reaching $586 million [28] - Adjusted diluted EPS decreased by $0.10 or 2.3% to $4.27 [33] - GAAP operating margin was 33.2%, a decrease of 350 basis points compared to the previous year [32] Business Line Data and Key Metrics Changes - Wealth organic ASV maintained double-digit growth, with new business sales nearly doubling compared to the previous year [15] - Dealmaker banking gains were driven by improved retention and multiyear deals [17] - Private equity and venture capital (PEVC) saw its fourth consecutive quarter of accelerating growth [19] Market Data and Key Metrics Changes - In The Americas, organic ASV increased by 5%, driven by higher banking and asset manager retention [14] - EMEA experienced organic ASV growth of 2%, impacted by lower contributions from annual price increases [14] - Asia Pacific saw a 7% increase in organic ASV, primarily due to higher retention in the banking sector [14] Company Strategy and Development Direction - The company is focused on driving top-line growth and expanding its footprint in enterprise solutions [22] - Investments are being made in technology, particularly in generative AI capabilities, to enhance product innovation [30] - The leadership transition to Sanoq Viswanathan is expected to guide the company through its next growth phase [10] Management's Comments on Operating Environment and Future Outlook - Management noted that the macro environment has not significantly changed, but client transformations are ongoing [40] - There is optimism regarding the pipeline for Q4, with strong demand anticipated from the institutional buy side [23] - The company reaffirmed its FY 2025 guidance, indicating confidence in achieving targets [36] Other Important Information - The company repurchased approximately 184,000 shares for around $81 million during the quarter [34] - A new share repurchase authorization of up to $400 million was approved, effective September 1, 2025 [34] - The company has returned $415 million to shareholders over the past twelve months through dividends and share repurchases [35] Q&A Session Summary Question: Change in macro environment and ASP growth - Management indicated that there has not been a significant change in the macro environment, attributing ASP growth to better execution and product traction [39][40] Question: Q4 outlook and comparison to last year - Management noted that both The Americas and EMEA regions look strong, with enterprise solutions driving growth [48][49] Question: Thoughts on fiscal 2026 - Management stated that they are focused on Q4 and will discuss fiscal 2026 in the September call [56][57] Question: Headwinds from asset owners optimizing costs - Management acknowledged competitive pressures but expressed optimism for future improvements [60][62] Question: Adjusted operating margin expectations for Q4 - Management confirmed that they expect to remain within the margin guidance range, with increased investments in technology and acquisitions [66][67] Question: Internal efficiency initiatives related to GenAI - Management highlighted ongoing efforts to improve internal efficiencies through AI, with positive early results [72][78] Question: Demand for data solutions - Management noted increased momentum in data solutions due to a broader suite of offerings and a refocused sales team [101][104]