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4/23/2026
Good day and thank you for standing by. Justine Stone, Head of Investor Relations.
Welcome and thank you for joining us for our Q1 2026 earnings call. I'm Justine Stone, Investor Relations for SS&C. 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 expectation plans and prospects, including the financial outlook we provide constitute forward-looking statements for 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 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, April 23rd, 2026. 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. 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.
Thank you, Justine, and welcome everyone. The first quarter of 2026 included a war in Iran, tariffs galore, spiking oil prices, and other macro headwinds. Nevertheless, we delivered strong first quarter results, underscoring SS&C's resilience. Based on our performance and visibility today, we are raising 2026 guidance. We recently rang the NASDAQ closing bell to celebrate SS&C's 40-year anniversary of powering mission-critical systems. Our financial services and healthcare clients rely on every day. Our business is built on deep domain expertise, strong trusted client relationships, and constant innovation guided by what we call our customer zero strategies. These strengths position us Well, as our industry enters the next phase of technology transformation driven by AI, we are updating the name of our largest revenue line item to better reflect the deeply embedded technology framework powering our services business. Technology enabled services encompasses our proprietary data streams, domain expertise, software, private cloud, data center infrastructure with ISO and SOC certifications, and the redundancy and multi-layered cybersecurity measures required by our sophisticated client base. First quarter results were adjusted revenue of $1,648,000,000, up 9%, and adjusted diluted earnings per share of $1.69, a 14% increase. We delivered adjusted consolidated EBITDA of $651 million, up 10%, and an adjusted consolidated EBITDA margin of 39.5%. The dollar figures I just said are all Q1 records. Adjusted organic revenue growth was 5%, with performance driven by GIDS, which grew 10.4%, Globop, which grew 6.7%, and our recent acquisitions are executing ahead of expectation, strengthening our global capabilities and expanding our addressable markets. Intralinks grew 3.2% with positive leading indicators and an increasing adoption of its next generation AI-enabled deal center platform. The resilience of our business is highlighted by the $581 billion in assets under administration we have added to our fund administration business since Q1 of 2024. Across SSSE, we are leveraging AI to enhance software development, increase our speed to market, accelerate implementations, improve customer experience, and drive efficiency. These initiatives support both revenue opportunities and cost leverage over time. All of our teams are partnering closely with Blue Prism to scale our AI operations in a governed and secure manner. For the three-month end in March 31, 2026, cash from operating activities was $300 million, up 10% year over year. In Q1, we returned $233 million to shareholders, which included 2.3 million shares repurchased for $168 million at an average price of $72.60 and $65 million in common stock dividends. Through share repurchases in our dividend policy, 98% of our allocated capital in Q1 was returned directly to our shareholders. At current levels, our conviction around share repurchases has strengthened and we are prioritizing repurchases absent high-quality accretive acquisitions. We remain bullish on our opportunities and continue to be AI as a structural tailwind for our business. Our platforms are deeply embedded in our clients' day-to-day operation, serving as systems of record and execution. That positioning makes SS&V a natural partner as clients look to advance their A1 strategies. I mean, their artificial intelligence strategies. I'll now turn it over to Rahul.
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