SS&C Technologies Holdings, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the SS&C Technologies 4th Quarter and Full Year Earnings Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be question and answer sessions. To ask a question during the session, you will need to press star 1 on your telephone keypad. Please be advised that today's conference is being recorded. If you require any further assistance during the call, you may press star zero. And without further ado, I would like to welcome your host for today, Ms. Justine Stone. Ma'am, the floor is yours.

Hi, everyone. Welcome and thank you for joining us for our fourth quarter and full year 2020 earnings call. I'm Justine Stone, Investor Relations for SSMC Technologies. With me today is Bill Stone, Chairman and Chief Executive Officer, Rahul Kanwar, President and Chief Operating Officer, and Patrick Pedanti, our Chief Financial Officer. Before we get started, we need to review the safe harbor statement. Please note the various remarks we make today about future expectations, plans, and prospects, including the financial outlook we provide, constitute poor business statements for the purposes of safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the risk factors section of our most recent annual report on Form 10-K, which is on file at the SEC and can also be accessed on our website. These forward-looking statements represent our expectations only as of today, February 10th, 2021. While the company may elect to update these forward-looking statements, it specifically disclaims any obligation to do so. During today's call, we'll be referring to certain non-GAAP financial measures. Reconciliation of these non-GAAP financial measures to comparable GAAP financial measures is included in today's earnings release, which is located in the investor relations section of our website at www.ssctech.com. I will now turn the call over to Bill.

Thanks, Justine, and thanks, everyone, for joining. Our results for the fourth quarter are 1,206,000. In adjusted revenue, it's down 0.5 percent and $1.13 in adjusted diluted earnings per share, which is up almost 5 percent. For the full year, we had $4.681 billion in adjusted revenue, up 0.3 percent and $4.30 in adjusted diluted earnings per share, up 12.3 percent. Our adjusted consolidated EBITDA was $475.8 million for the fourth quarter, and our adjusted consolidated EBITDA margin was 39.4 percent. Our Q4 adjusted organic revenue was down 2%, and for the full year, our 2020 organic revenue was down 0.5%. As expected, we had weakness in our large licensed software business in the fourth quarter, but our alternative business, our interlinked, and our edge business grew nicely, and the DST business saw improvement from the previous quarter. Operating cash flow was $1.84.7 million, $1.84.7 million. billion for the 12 months into December 31st, 2020, up 10% if you exclude a one-time $250 million upfront license payment paid in the second half of 2019. 1.184.7 million represents a 103% cash conversion rate on our adjusted net income of $1,146.8 billion. We put cash To good use in 2020, we paid down $738 million in debt, bringing our secured net leverage ratio to 2.31 times and our total net leverage ratio to 3.39 times. We bought back 3.7 million shares of common stock at an average price of $60.99 for a total consideration of $227 million. This year, we faced many challenges which were unprecedented in our 35-year history. SS&C adjusted quietly and with authority. We moved 99% of our workforce to remote, supporting clients with expertise and resources. We continued to meet our deliverables, engage with our prospects, and we built and deployed solutions. We have continued to see success with our newest products. As Eclipse ended the year with 170 clients, we're doubling its client base. We have leveraged algorithmic capabilities and developed a scenario as a service A pandemic-specific analytical tool, which is infection rate, susceptibility, and death rates into the investment scenarios based on movements in equity, fixed income, FX, and commodity markets. In SS&C Health, we successfully launched our flu pilot program with the support of our internal call centers. This program provides outreach to SS&C Health clients in order to enhance the rates of flu vaccinations. We developed a similar COVAX program focused on ensuring the successful completion of the COVID vaccine series for members receiving the vaccination from SS&C health partner pharmacies. While 2020 was a tumultuous year on a global basis, SS&C performed with distinction. We were able to outperform estimates, collect our receivables, delight our customers, and generate more revenue than any year in our history. Like many in the financial services, Industry, we earned revenue on float. In 2020, this revenue was down 20 million or over 75 percent. We overcame all difficulties and posted $4.3 million, $4.4 and 30 cents in adjusted earnings per share, 12.6 above the 383 per share in 2019, 47 percent above the 292 in 2018, and 122.8 percent above the $193 in 2017. Good numbers, we think. I'll now turn the call over to Rahul to discuss the quarter in more detail.