SS&C Technologies Holdings, Inc.

Ladies and gentlemen, this is the operator. Today's conference is scheduled to begin momentarily. Until that time, your lines again will be placed on a music hold. Thank you for your patience. Thank you for standing by. My name is Krista and I will be your conference operator today. At this time, I would like to welcome everyone to the SSNC Technologies first quarter 2024 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during that time, simply press star followed by the number one on your telephone keypad. And if you'd like to withdraw your question, again, press star one. Thank you. I would now like to turn the conference over to Justine Stone, head of investor relations. Justine, you may begin your conference.

Welcome, and thank you for joining us for our first quarter 2024 earnings call. I'm Justine Stone, investor relations for SS&C Technologies. With me today is Bill Stone, Chairman and Chief Executive Officer, Rahul Kanwar, President and Chief Operating Officer, and Brian Schell, our Chief Financial Officer. Before we get started, we need to review the Safe Harbor Statement. Please note that various remarks we make today about future expectations, plans, and prospects, including the financial outlook we provide, constitute forward-looking statements for the purposes of the 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 our risk factor 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, April 25, 2024. While the company may elect to update these forward-looking statements, it specifically disclaims any obligation to do so. During today's call, we will be referring to certain non-GAAP financial measures. A 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. Our first quarter results are record adjusted revenue of $1,435,000,008. Up 5.3% and our adjusted diluted earnings per share were $1.28, 12.3% increase. Adjusted consolidated EBITDA was $556.8 million for the quarter, a record high for our Q1. And our EBITDA margin came in at 38.8. Our first quarter adjusted organic revenue growth was 4.7%. The first quarter revenue acceleration was driven by strength in our alternatives. retirement interlinks, and ALPS advisor businesses. Our recurring revenue growth rate for financial services was 6.5 percent, which includes all software-enabled services and maintenance revenue. For the three months ended March 31, 2024, cash from operating expenses from operating revenue was $180.5 million. We paid down $79.9 million in debt in Q1, 2024. bring our net leverage ratio to 2.95 times and our net secured leverage ratio to 2.02 times. We bought back 800,000 shares for $52.9 million, an average price of $63.24. The internal deployment of Blue Prism Digital Workforce across SS&C continues to go well. The 150 basis point year-over-year increase in our EBITDA margin can be attributable in large part to this initiative. A recent Forrester study found an average SS&C Blue Prism client saw a return on investment figure of 330% over three years. The key benefits include business growth, improved productivity, compliance cost avoidance, and improved employee experience and retention. As one of the largest users of Blue Prism technology, we are experiencing these results firsthand. Earlier this month, we held our first delivery conference, which was held at the Fairmont in Windsor in the UK, hosting over 250 clients. The enthusiasm and energy over the two-day event was evident, and we've received universal positive feedback. I'll now turn the call over to Rahul to discuss the quarter in more detail.