01—Abstract
Summary
Summary of the 8-K filed July 23, 2025. Cited figures are marked; the original filing is the authoritative source.
SS&C Technologies Holdings, Inc. reported results for the quarter ended June 30, 2025 in a Form 8-K furnished under Item 2.02.
GAAP revenue was $1,536.8 milliona, up 5.9% from $1,451.5 million, while fully diluted GAAP EPS was $0.72, down 4.0% from $0.75. Net income attributable to SS&C was $180.8 million, down 5.0%. The company described record adjusted revenue of $1,537.8 million (up 5.9%) and record adjusted consolidated EBITDA attributable to SS&C of $600.4 million (up 7.4%), with adjusted diluted EPS of $1.45, up 9.8%.
Adjusted organic revenue growth was 3.5%, and Financial Services recurring revenue growth was 3.9%. Cash generation and capital returns were highlighted. Net cash from operating activities was $645.1 millionb for the six months ended June 30, 2025, up 14.1%.
The company repurchased 3.4 million shares for $269.0 millionc in the quarter at an average price of $77.99. Cash and cash equivalents ended the quarter at $480.3 million against $6,858.4 million of gross debt, with a consolidated net leverage ratio of 2.72 times and a net secured leverage ratio of 1.55 times.
Management also announced a definitive agreement to acquire Calastone, a global funds network, for approximately $1.03 billiond, with closing expected in Q4 2025. Guidance for full-year 2025 adjusted revenue is $6,143.0 million to $6,243.0 million, and adjusted diluted EPS is $5.82 to $6.06.
02—Key points
Key Highlights
- GAAP revenue of $1,536.8 million, up 5.9%; GAAP operating income of $344.5 million, with a 22.4% operating margin.
- Record adjusted revenue of $1,537.8 million, up 5.9%; adjusted organic revenue growth of 3.5%.
- GAAP diluted EPS of $0.72, down 4.0%; adjusted diluted EPS of $1.45, up 9.8%.
- Record adjusted consolidated EBITDA attributable to SS&C of $600.4 million, up 7.4%, with a 39.0% adjusted margin.
- Operating cash flow of $645.1 million for the six months, up 14.1%; 3.4 million shares repurchased for $269.0 million.
- Agreed to acquire Calastone for approximately $1.03 billion, expected to close in Q4 2025.
- FY 2025 guidance: adjusted revenue of $6,143.0 million to $6,243.0 million and adjusted diluted EPS of $5.82 to $6.06.
03—Questions
Frequently Asked Questions
How did SS&C perform in the second quarter of 2025?
GAAP revenue rose 5.9% to $1,536.8 million, and adjusted revenue reached a record $1,537.8 million. GAAP net income attributable to SS&C fell 5.0% to $180.8 million, while adjusted diluted EPS grew 9.8% to $1.45.
What is the Calastone acquisition?
SS&C announced a definitive agreement to acquire Calastone, a global funds network connecting Managers, Distributors, and Servicers, for a purchase price of approximately $1.03 billion. The acquisition is expected to close in Q4 2025.
How much debt and leverage does SS&C have?
At June 30, 2025, SS&C had $6,858.4 million of gross debt and $480.3 million of cash and cash equivalents. Its consolidated net leverage ratio was 2.72 times and its net secured leverage ratio was 1.55 times consolidated EBITDA attributable to SS&C.
What guidance did SS&C provide for 2025?
For full-year 2025, SS&C guided to adjusted revenue of $6,143.0 million to $6,243.0 million, adjusted net income attributable to SS&C of $1,462.0 million to $1,542.0 million, and adjusted diluted EPS of $5.82 to $6.06. Q3 2025 adjusted revenue guidance is $1,525.0 million to $1,565.0 million.
How much did SS&C return to shareholders?
In Q2 2025, SS&C repurchased 3.4 million shares for $269.0 million at an average price of $77.99 per share. The filing also states that $60.9 million was paid in common stock dividends for the three months ended June 30, 2025.
04—Continue