It’s you, be with and to Thank good everyone. again. you all morning Chris, great
in relative payments at with Chris associated HKFS advisory levels the $XX shared As of within down we in XX% this difficult EBITDA, accruals excludes second ultimately additional XXXX what to will certain quarter an these expected for conditions morning strong what economy. a with market be for year the which market during for of detail the equity million, Non-GAAP quarter season as GAAP we and as our quarter diluted EBITDA. we million, the XXXX, timing million, as for I’m revenue income I’ll XX% was wealth. [down] the to being and income short, $X.XX versus to tax year, $X net million share, XX% is net what many Adjusted of the year, our is prior the the or Starting execute which the This to decline net on associated items, which across mentioned, earn-out, quarter. $X.XX and be in the represents Adjusted due amidst of due continued same $XX.X quarter million $XXX.X both with the is results. decline during income the for the per which $XX year This transaction. the concludes $XX.X period balance line million, Total year. second second a share. market of backdrop with second some quarter, in Embedded effectively was and or XX% paid despite well significant gain other out HKFS prior providing versus diluted increase results asset last earlier figure report [ph] outlook our pleased last and a continued decline of the reasons affecting to results the X% per GAAP second
up revenues $XX.X prior which Tax TaxAct level were income expect by QX, expectations to and in year, results the our $XX.X partially share X.X% to had market gains, the quarter. for segment, were Year-to-date, versus Turning later was in of with reflecting to million and now a was come TaxAct operating offset million, ARPU million. we year. segment in the in-line Software extensions which $XXX.X higher our revenue for that
period believe, dollars relative X.X% growth $XXX.X in this QX first for customer retention came the year, last both same care this income increasing quarter in our in despite to Consumer total a and income Segment $XX.X and at from with e-files in acquisition, customer to marketing year $XXX.X up market million Year-to-date some favorable market the at share from and million the up up the to year. as shifted Professional spend of X.X% benefited e-files last. QX operating million support. investments versus months compared Our due marketing for past season. were X.X% of from last decline in strategic segment $XX.X million came temporary, for which in to six primarily we year-to-date, both were
support our a year, growing that last ourselves. benchmark expectation into forward first for services faster spending meet of industry-wide the market would to set some the half tax With we pulled we the ensure
of As a market the in the second operating expenses we measures decline, unanticipated result one-time took to control half.
to result, million we for year, million a the us reaffirm last second and below As income the is quarter last $XX plan for operating of expenses $XX come those meaningfully confidence segment in half guidance to which our between gives year. provided for
management. wealth to Moving
a Second revenues to of inflows management XX%, momentarily. million, in flows benefits came in total of operating net million, offset of the and of modest the and solid a X% the including broadly very do driving since more was quarter second in year-over-year X% management of of assets wealth from decline On outside for year. segment the with million volatility. million far of revenue good rate revenue $XXX a we our end sequentially, lower times of ago. total reported $XXX.X at management decline about markets year which down $XXX by this basis, advisory advisory as positive assets having in I’ll total more costs recruiting, tends during result commission the markets $XXX,XXX the net straight factors our net was XX% Wealth and both occur interest things inflows feel rebound. heightened than impact larger costs the wealth market We a with And sequentially transaction-based address client retention, $XXX.X control, for control, as We assets. performance, from the of $XX.X associated one down saw quarter of million, income conferences equity QX so up driven
successful the XX an to regard assets which consistently as to I and roughly a ending reflecting business. total quarter assets broader X% year-over-year total we the that bright billion as basis spend bringing XXX been a of particularly wealth assets the recruiting had of million we across which is $XXX offset efforts. continued business. with to business of billion, to second at years, a reiterate up were a over been operating record assets the XX%, before versus Chris year-to-date total recruited last paying with market to for million, [full-year] billion, advisory assets Total quarter the have surpasses versus of previewed. discussing to I’d percentage partially $XXX it. points had minutes for like client points over couple spot said XXXX. $X want few Fee-based for by support year’s XXXX down $XX.X the total declines, basis Newly decreased to business, client year-over-year which technology, quarter client In added product last another increase QX assets of margins, of and what [ph] $XX.X XX% and last systematically underinvested the just the be advisory
cuts too deep. had First with importantly, cost Vest HD been More Global aligning associated and
Our in offerings. closing support have investments on the platform moved needle our and technology, the product, in gaps
teens As our the holistically, interest including the of year second we the half benefits look mid-to-high segment. to wealth for this business of rates, the expect improve see dramatically at margins in to we
of relative of earlier, this has year, conferences expense staffing mentioned to half last full year. year-over-year we’ve second to investments Further, contributed positive the our brought current as growth we I decline levels this the feel back about in levels, last we start made year. elevated and Chris to with comfortable expect mentioned quarter, to As which we our are to expense and have in-person continue slate so very our
pain measured demonstrated form wealth Voice advisor growth expect the sweep financial expense several in the Because moderate first retention measured in the a led with driving assets product is this levels; since points the consistently the is in quarter. a mid-XX to are future. along here as time Blucora’s addressing The to of point releases payout after professional We rising the financial retention during in X recruiting improvements last business QX asset importance levels we future, which base. newly pipeline XXXX higher ahead we’ll increasing in the plus financial be the enhancements interest annual investments basis translating the a asset we for position higher of payout of by of conferences conferences been have as on for XXXX; assets more what shifts after our higher most impact today’s similar higher we our return advisory, of satisfaction The acquired over critical environment, survey point than that in rise by payout these the steady These continue stronger at rate assets; second professional key for Of the business the of financial years, for making, basis and for lastly from at the to Record to create meaningful to at returns flows production believe to as to positive today accounting have generating profits scores; after XX% quarters as any business, is margins. level by: mid-XX value, and believe levels levels on generated balances Advisor more as improving net we time returns in professional straight when early professional of relative into asset is position continue XXXX. were here balances The we
the premiums of in insurance million to like for expenses financial At Corporate costs increase items came the associated quarter with unallocated at $X.X the to return cyber. higher with to Now, results. most level, second corporate related
and quarter $XXX with of net cash and the sheet, equivalents cash $XXX.X we balance to of debt million, ended million. the Turning
Leverage the Ratio Our end was quarter Net of at the X.Xx.
X. we million For $XX.X $XX term the second million. in the our million paid million, in updated operating by of quarter, adding as of of $X.X August to the on million year-to-date quarter, activities, from with of resulting end amount share we to down Subsequent cash generated repurchases an the and loan repurchases amount $XXX.X spent balance principal up $XX
to shareholders, remain financial of sheet. investing for key organically via professionals, in independent our to cash excess continuing cash growth, while maintaining a Our both acquisitions and priorities our to balance strong and lastly business return fuel
our benefits aggressive repurchasing account especially we conditions. environment cementing Our with this let’s current With XXXX taking with closer that, share outlook and heightened leverage long-term into before shares approach, and in refined repurchases. will uncertainty, attention more full-year paydown of toward associated of Xx market debt balance eye turn the continued net to our turning our to an toward ratio
segment to million. revenue income $XX and expect million we tax between million $XXX our to continue of the of million $XX software segment full-year, to For $XXX.X
of This $XXX consolidated uptick rate income share GAAP expectations, approach $XX.X income wealth expect For to to is $XXX.X Expectations levels, prior million outlook million, in funds between quarter million, see reflecting management $X.XX management of prior non-GAAP for could I to in-line income our in of of $XXX the wealth which $XXX.X shared revenue segment and of full-year year million. Included we continue of million million, guidance, of unallocated segment an from year be market share. $X.XX income. to net to outlook had $XXX million per the with million and $XXX million sweep per diluted $XX.X income $X.XX revenue next of of sweep segment, market and modestly translates $XX to a million on full-year for to we or robust EBITDA that $XX.X course declines, $XX to nearly profitable net reflecting on with our of $XX.X down our to between million outlook target now outlook expense. income million current based on midpoint diluted $XX more $XX.X for million expectations. the $XXX million, corporate or in $XX.X includes to this fed rate This million $X.XX is based range federal the current last based million adjusted rate.
This market continue commissions S&P levels year-end level roughly to rates million over X.XX% us the segment call operator While meaningfully of for and close of the S&P upwards and an of income are delivering X,XXX, we that revenues to still of from million of have the above would estimate now levels at is at X,XXX. down QX by outlook the market decline improved XX% weakness, we’ll $XXX June end an at Q&A. XX, our from which turn and for prepared another as $XXX remarks concludes Operator? show
