SS&C Technologies Holdings, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the SS&C Technologies Q2 2024 earnings 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, press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one. I will now hand today's call over to Justine Stone, Head of Investor Relations. Please go ahead.

Welcome, everybody, and thank you for joining us for our Q2 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 the 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 Security 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 factor section of our most recent annual report on Form 10-K, which is on file with the SEC and can also be accessed on our website. These forward-looking statements represent our expectations only as of today, July 25th, 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.ssdtech.com. I will now turn the call over to Bill.

Thanks, Justine, and welcome, everyone. Our second quarter results are record adjusted revenue of $1.452.4 billion, up 6.5% and $20 million ahead of our forecast. Our adjusted diluted earnings per share were $1.27, up 17.6%. adjusted consolidated EBITDA was $558,900,000 for the quarter, and our EBITDA margin was up 170 basis points to 38.5%. Our second quarter adjusted organic revenue growth was 6.4%. The revenue acceleration was driven by strength in our alternatives, GIDS, wealth and investment technology, and interlinked businesses. The surprise upside came large in our GIDS business, the outperformance driven by seasonality and some accelerated license revenue. Our recurring revenue growth for financial services was 7.7%, which includes all software-enabled services and maintenance revenue. Second quarter cash from operating, from operations were $385 million, up 16.8% from Q2 23, Our cash flow conversion percentage for the quarter was over 120%. We paid down 25.2 million in debt in Q2 24, bringing our net leverage ratio to 2.84 times consolidated EBITDA. In Q2 24, we bought back 3.7 million shares for 227 million at an average price of $62.7, $62.17 per share. This is the highest share back share buyback in one quarter in SS&C's history. Last week, the Board of Directors renewed a one-year, $1 billion common stock repurchase program. We continue to believe stock repurchases are a good use of our capital. On the M&A front, valuations are still elevated, but we are seeing an increase in relevant targets coming to market. We will continue to look but our returns need to be as attractive or greater than buying back our own stock. I'll now turn it over to Rahul to assess the quarter in more detail.