01—Abstract
Summary
Summary of the 10-Q filed April 30, 2026. Cited figures are marked; the original filing is the authoritative source.
SS&C Technologies Holdings, Inc. reported first-quarter 2026 total revenues of $1,647.1 milliona, up from $1,513.9 million in the prior-year period, an increase the company attributes primarily to $75.9 million of organic growth, led by the SS&C GlobeOp fund administration and Global Investor and Distribution Solutions businesses, along with $34.9 million from acquisitions and a $22.4 million favorable currency impact.
Operating income rose to $398.2 millionb from $357.9 million, and net income attributable to SS&C common stockholders was $226.1 million, or $0.91 per diluted share, compared with $213.0 million, or $0.84 per diluted share, a year earlier. Gross margin was 48.7% versus 49.3% in the prior-year period, and operating expenses were 24.5% of revenues versus 25.7%. Cash flow from operations was $299.7 million, compared with $272.2 million a year earlier.
The company repurchased 2.3 million shares for approximately $168.5 millionc and paid $65.3 million in dividends. Total debt carrying value was $7,430.5 million at March 31, 2026, and the Revolving Credit Facility had $513.3 million available. Management stated the company was in compliance with all financial and non-financial covenants, and the reported maximum consolidated net secured leverage ratio was 1.69 against a 6.25x covenant requirement.
Total assets declined to $20,327.7 milliond from $20,711.7 million at December 31, 2025, largely reflecting lower client-related funds balances and foreign currency translation effects. Client funds obligations fell to $3,617.5 million, and the effective tax rate increased to 25.3% from 18.4%, primarily due to lower recognition of windfall tax benefits from stock awards.
02—Key points
Key Highlights
- Total revenues rose 8.8% to $1,647.1 million, including $75.9 million of organic growth, $34.9 million from acquisitions, and $22.4 million from favorable foreign currency translation.
- Operating income increased to $398.2 million from $357.9 million, while gross margin declined to 48.7% from 49.3%.
- Diluted EPS was $0.91 versus $0.84 a year earlier; net income attributable to SS&C common stockholders was $226.1 million versus $213.0 million.
- Net cash provided by operating activities was $299.7 million, up from $272.2 million, and capitalized software additions were $62.0 million.
- The company repurchased 2.3 million shares for approximately $168.5 million and paid $65.3 million in quarterly dividends of $0.27 per share.
- Total debt was $7,430.5 million at March 31, 2026, including $110.0 million classified as current, and the company reported compliance with all financial and non-financial covenants.
- The effective tax rate rose to 25.3% from 18.4%, primarily due to lower recognition of windfall tax benefits from stock awards.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in Q1 FY2026, SS&C Technologies Holdings kept $0.14.
- Revenue$1.65B100.0%
- Cost of revenue−$845.3M51.3%
- Gross profit$801.8M48.7%
- Operating costs−$403.6M24.5%
- Operating income$398.2M24.2%
- Interest, other & tax−$172.1M10.4%
- Net income$226.1M13.7%
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed April 30, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $1.65B$1.51B | +8.8% |
| Cost of Revenue | $845.30M$766.80M | +10.2% |
| Gross Profit | $801.80M$747.10M | +7.3% |
| R&D Expenses | $134.60M$129.10M | +4.3% |
| Operating Expenses | $403.60M$389.20M | +3.7% |
| Operating Income | $398.20M$357.90M | +11.3% |
| Interest Expense | $105.40M$105.20M | +0.2% |
| Net Income | $226.10M$213.00M | +6.2% |
| EPS (Basic) | $0.94$0.87 | +8.0% |
| EPS (Diluted) | $0.91$0.84 | +8.3% |
| Shares Outstanding (Basic) | 241.50M245.80M | −1.7% |
| Shares Outstanding (Diluted) | 247.60M254.90M | −2.9% |
05—Questions
Frequently Asked Questions
What drove the increase in revenue this quarter?
Total revenues increased $133.2 million, or 8.8%, to $1,647.1 million. The filing attributes $75.9 million of the increase to organic growth, driven by the SS&C GlobeOp fund administration and Global Investor and Distribution Solutions businesses. Acquisitions contributed $34.9 million and favorable foreign currency translation contributed $22.4 million.
How did profitability change compared with the prior-year quarter?
Operating income rose to $398.2 million from $357.9 million, and net income attributable to SS&C common stockholders increased to $226.1 million from $213.0 million. Gross margin declined to 48.7% from 49.3%, while total operating expenses fell to 24.5% of revenues from 25.7%. The effective tax rate increased to 25.3% from 18.4%.
How is the company using its cash?
In the quarter, net cash provided by operating activities was $299.7 million. The company used cash for $168.0 million of treasury stock purchases, $65.3 million of dividends, $62.0 million of capitalized software additions, and $54.9 million of withholding taxes on equity award settlements. Net cash used in financing activities was $741.1 million, which included a $470.2 million net decrease in client funds obligations.
What is the company's debt position and liquidity?
Total debt carrying value was $7,430.5 million at March 31, 2026, including $110.0 million current. The revolving credit facility had $600.0 million of commitments, of which $513.3 million was available. The company stated it was in compliance with all financial and non-financial covenants, and management expects cash on hand, operating cash flows and credit facility availability to fund obligations for at least the next twelve months.
Are there any material legal proceedings or changes to risk factors?
The company stated it is not involved in any litigation or proceedings it expects to have a material adverse effect on it. The filing also states there have been no material changes to the risk factors disclosed in its 2025 Form 10-K.
06—Continue