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SS&C Technologies Holdings 8-K Report, Financial Results (Apr 24, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed April 24, 2025
Period End
April 24, 2025
Security
SSNC
In the record · 2016–202610-K1210-Q328-K107

SSNC filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 107 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Aug ’19Aug ’19
  3. Deal closed8-K · Mar ’22Mar ’22
  4. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed April 24, 2025. Cited figures are marked; the original filing is the authoritative source.

SS&C Technologies Holdings, Inc. (NASDAQ: SSNC) furnished its first-quarter 2025 results under Item 2.02 of this Form 8-K, dated April 24, 2025.

GAAP revenue was $1,513.9 milliona, up 5.5%, and adjusted revenue was $1,514.8 million, up 5.5%. GAAP operating income rose to $357.9 million from $332.9 million, and diluted GAAP earnings per share attributable to SS&C were $0.84, up 35.5%. Adjusted diluted earnings per share were $1.44, up 8.3%, and adjusted consolidated EBITDA attributable to SS&C was $591.9 million, up 6.3%, with a 39.1% adjusted EBITDA margin.

Management described both adjusted revenue and adjusted consolidated EBITDA as first-quarter record results. Cash generation and balance sheet activity were strong. Net cash from operating activities was $272.2 millionb, up 50.8% from $180.5 million.

The company repurchased 2.4 million shares for $206.9 millionc at an average price of $87.21 and paid down $155.0 million of debt. The consolidated net leverage ratio was 2.74 times consolidated EBITDA attributable to SS&C, and the net secured leverage ratio was 1.57 times. Gross debt was $6,892.8 million and cash and cash equivalents were $515.0 million as of March 31, 2025.

For 2025, the company guided full-year adjusted revenue of $6,118.0 million to $6,238.0 milliond, adjusted diluted EPS of $5.68 to $6.00, and cash from operating activities of $1,458.0 million to $1,558.0 million. For the second quarter, it guided adjusted revenue of $1,489.0 million to $1,529.0 million and adjusted diluted EPS of $1.35 to $1.41. The company stated it cannot reconcile guidance for adjusted revenue and adjusted net income to GAAP measures without unreasonable efforts.

02—Key points

Key Highlights

  1. GAAP revenue of $1,513.9 million, up 5.5% year over year; adjusted revenue of $1,514.8 million, up 5.5%
  2. GAAP diluted EPS attributable to SS&C of $0.84, up 35.5%; adjusted diluted EPS of $1.44, up 8.3%
  3. Operating income of $357.9 million, up 7.5%, with a GAAP operating income margin of 23.6%
  4. Adjusted consolidated EBITDA of $591.9 million, up 6.3%, with a 39.1% margin; described as a first-quarter record
  5. Operating cash flow of $272.2 million, up 50.8%; repurchased 2.4 million shares for $206.9 million
  6. Repaid $155.0 million of debt; net leverage ratio of 2.74 times consolidated EBITDA attributable to SS&C
  7. FY 2025 guidance: adjusted revenue of $6,118.0–$6,238.0 million and adjusted diluted EPS of $5.68–$6.00

03—Questions

Frequently Asked Questions

  1. How did SS&C perform in the first quarter of 2025?

    Revenue rose 5.5% to $1,513.9 million on a GAAP basis, and GAAP net income attributable to SS&C was $213.0 million, up 35.2%. Adjusted consolidated EBITDA reached $591.9 million, up 6.3%, and the company described both adjusted revenue and adjusted consolidated EBITDA as first-quarter records.

  2. What is the company's 2025 outlook?

    For full-year 2025, SS&C guided adjusted revenue of $6,118.0 million to $6,238.0 million, adjusted net income attributable to SS&C of $1,441.0 million to $1,541.0 million, adjusted diluted EPS of $5.68 to $6.00, and cash from operating activities of $1,458.0 million to $1,558.0 million. For the second quarter, it guided adjusted revenue of $1,489.0 million to $1,529.0 million and adjusted diluted EPS of $1.35 to $1.41.

  3. How is the company managing its debt and capital returns?

    In the first quarter, SS&C repaid $155.0 million of debt and ended the quarter with gross debt of $6,892.8 million. Its consolidated net leverage ratio was 2.74 times and its net secured leverage ratio was 1.57 times. The company also repurchased 2.4 million shares for $206.9 million and paid $61.6 million in dividends on common stock in the quarter.

  4. What are the company's non-GAAP measures, and how do they differ from GAAP?

    The filing reports adjusted revenue, adjusted operating income, adjusted consolidated EBITDA, adjusted net income and adjusted diluted EPS. Adjusted net income excludes items such as amortization of intangible assets ($153.0 million in the quarter), stock-based compensation ($52.7 million) and restructuring costs ($7.1 million). The company states these measures are not GAAP terms and should not be considered alternatives to GAAP results.

04—Continue

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