SSNC - Earnings call transcript Q1 2022 | SS&C Technologies Holdings, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

00:04 Good day, everyone, and welcome to the SS&C Technologies First Quarter 2022 earnings call. Today's call is being recorded and all lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you. 00:29 And I would now like to turn the call over to Justine Stone, Head of Investor Relations. ahead. go Please

Justine Stone

Annual is today need may is of Welcome and our statements Security the be plans everyone. Stone, you joining forward-looking President me for Relations including those Executive our that Safe and XX:XX the indicated Harbor Rahul differ provisions Officer; the quarter most XX, section for and XXXX Form prospects, as website. the XX:XX as of Please our for Kanwar, by today note under With XX:XX Patrick these first SS&C Chief recent Operating Officer. Justine financial provide Stone, Before our earnings us Chairman for statements review SEC forward-looking Chief forward-looking Hi, Litigation Safe result and Officer; XXXX. Technologies. thank Pedonti, the factors, of April Private Act on with important statements These of Bill various call. outlook represent Investor which and expectations, we Risk Harbor to results XX:XX expectations materially remarks constitute Reform about we including of the make can a on those from purposes file various Financial Actual our and Chief get only Report XX-K, in today, future accessed started, we we statement. discussed XXXX. I'm Factors also on

to While so. forward-looking it company statements, specifically disclaims the elect do any obligation to may these update

is Relations at I EPS XXXX, are venture of these to EBITDA, comparable interest SS&C we quarter the of discussed to attributable is call, figures and earnings and financial we A non-GAAP DomaniRx, into call third in operating GAAP net included interest the non-GAAP beneficiary. will www.ssctech.com. section today, reconciliation XX:XX Investor ownership income, including now release, which majority today's measures Bill. today's the we in be the retained based which financial holder turn on website joint referring to are located entered in our All income a Also certain LLC, the During SS&C. named will financial measures primary earnings measures. to by over

Bill Stone

everyone for joining. Thanks XX:XX

Our million was first and the earnings $X.XX up quarter for were consolidated highest the results adjusted $XXX.X Adjusted per XX-year revenue, million EBITDA for first adjusted and up $X,XXX history. and X.X%. quarter, X.X% in share our quarter the diluted

growth net SS&C XXXX. ended three of organic first back service, the Advent XX:XX we financial generated XX, from was Our and EBITDA bought adjusted an for our up price $XX.XX, operating the organic XXXX quarter. quarter, healthcare our quarter Ex impact the revenue was March cash was per businesses were of million in margin leaders XX.X%. the revenue months the over share XX% in $XXX.X $XXX.X Intralinks, our million. million X.X Our growth total of for shares our of activities average alternatives X.X%. X.X%, is QX business, for which In of the

both hand Hubwise, March. on acquisition fund -- to and We of help also use help Blue closed cash Prism which on the in

Our consolidated X.XX. is at now leverage secured X.XX ratio net and our leverage net ratio stands

can our global a roles great Companies this we while uncertainty are to exceptional operating can our of all by over of end expect cost excess These to billion XXXX. with loss. to we XX% intelligent and to the Currently XX% given across turn automation to XX:XX to -- of position to XX% and resultant excited to the a the gross EBITDA disruption. Prism and the growing and share its based and their the sale reduce with capitalize $XXX XXXX XX% cross be I'll the estimate of margin margin is more companies revenue new Blue EBITDA with exiting Prism to in team grade We detail. Prism are continue automation due in revenues labor controls be capabilities estimate Blue in in McKenzie's XX% Through successful world the customers. automated. hesitancy year, market, to growing expect most accelerate leverage discuss our add X:XX We now program. at Blue with XX% market We're growth XX% Rahul fast technology X.X on struggle SS&C's the potential initiatives. will enterprise active repurchase XX:XX to exiting call at numbers quarter remaining off the like

Rahul Kanwar

offers and in a operations. teams to markets Technology enhance across private Our as Geneva’s have flexible of in XXXXs all markets, had depth remain XX:XX grow led remain several RPA all our capabilities administration. focused Treasury year. breaking Advent, This and well quarter both GoCentral market the interest record services core to fund and Management in funds. of administration gains advancing in XX:XX XX:XX alternatives Advent time continues and and development delivery private as Intralinks both M&A this first Operating Thanks, to and this Intralinks targeted internal journey The allocations throughout been business at new to GoCentral breadth under are Alternatives market and and we strong We technological good a pipeline generated from alternatives investor contribute coming holistic the model administration of off to for environment. across manner will our In AI M&A later credit support closely efforts, by highs marries board, and We win launched technology for close offering strong quarter prospects our a have and forward, the models. utilizing hedge that strengthen Bill. have hybrid continue going deal the and clients Technology despite capabilities. performance expect QX, on funds to assets automation extending partnering Solutions, and large client significant volatility. already. rates combined driven

continue to remainder steady take share and market the anticipate deal of volume continuation year. for of We the

in quarter, move revenue As founding and healthcare ourselves experience claims XX.X% partners. platform best continue of two towards API-driven and expected cloud DomaniRx we heavily the a the declined in other to the of investing off native, adjudication based development we're the

top service superior and chose their support X due mention rebalancing well center upcoming our our strong the as an relationship a due model with Diamond, launch mutual fund generated, trading solution. XXXX. of functionality, new Black the to as expanded XX:XX client event competitors, dealer QX. for a over U.S. A key our [indiscernible] billion With this existing in and and to DomaniRx recovery will deals expect interest technology Now, has I broker we some

of One financials. Geneva powerful services. to tax and of agency [indiscernible] structures. expanded types our market fund chose solution. hedge two including over $X it billion of and services, billion run largest the XX:XX X an an Link expertise existing as their I together investor clients Fixed BPO Tier us AUA our extremely and in because A solutions, SS&C turn now real through Patrick mutual the as both fund and to private viewed platforms will chose asset fund XX:XX our to services, suite fund assets client various XX be as found they Geneva fund transfer in A

Patrick Pedonti

GAAP and The increased revenues of was adjusted diluted operating $XXX.X the $X.XX. deferred X.X% the GAAP XX:XX attributable Overall, million, million. X.X%, XXX first results the acquisitions. up a adjusted net of revenue XX:XX our increase EPS revenue a contributed million XXXX. adoption $XX.X income X.X% adjusted for increased of adjusted revenue the adjustments to X.X% $X,XXX income over basis, EPS prior GAAP QX, Adjusted $X,XXX acquisitions including SS&C quarter for Thank you. an in $X.XX, On was was revenue million, $XX.X QX for and of impact were standard million, revenues and

includes constant JV. XX was and million for Foreign X.X% cash exchange X and compared was was of impact million Adjusted ended $X.XX. offset flow in XXX increased currency XX:XX unfavorable cash XX%. the Note as our $X.X debt. and X was XX.X% the buybacks revenue of XX. a first $XX.X to-date net quarter or in quarter from $XXX.X of Net decreased revenue, million XXXX million to of the $XX.X We predominantly million facility million, repurchases. borrowings adjusted XXX the $X.X accounts totaled billion basis, in currency currency $X.X consolidated Diluted we and LTM shares. in internal March partially an approximately quarter release quarter quarter X.X% the operating the authorized, XX:XX receivable release net share and notes price by -- Operating March non-cash was sulfur the effective was $XX gross $XX In XX% little quarter. first net year, $X,XXX.X debt strength an businesses. to equivalents leverage the compared $XX excludes had Adjusted share of was exercises flat a XX:XX buybacks March million December of An compared ratio in was net bps $X.XX defined stock the borrowings On net $XXX.X couple in $X.XX. $X,XXX X.X%. ratio $XX.XX. the income increased year. Adjusted quarter, $XXX.X average recorded of million revenue constant OID. of months earnings Intralinks added $XX.X compared acquisition including tax for and is XXXX first increase an was up our our to the expenses new million million $XXX.X million XX:XX XX:XX three million compared quarter flow, common a net million the Adjusted rate costs for with costs shares bear net amortized quarter $X.X of X.X for stock On floor. for repurchase and and secured for and X.X% July had the Prism $XX.X retention we've the million margins interest was $X,XXX in for was senior XXX.X we cash ‘XX we days XXXX. were on XX:XX uptick was The client expense quarter an the of $XXX.X XXXX. or acquired. cash in average our client borrowed $XXX on EBITDA XX.X XX:XX and X.XX% as foreign credit in paid We taxes Hubwise to fund million the our Board and were debt of a in X.XX% total days, billion we'll income shares option will million highlights treasury balance capitalized The our rates at we increase on or expenditures billion on million, million ’XX. an for I’ll up to and last plus a -- in $XXX.X total the pre-tax DomaniRx of for and incremental price period increase of cash in in In be defined at of capitalized service of our XXXX, which defined earnings to was with XXXX. first million, in to provision paid of across in our Treasury software of is sulfur compared -- in covenant Expenses sheet a million Note and $X.X first X.X% assumptions first alternatives, held X.XX%, million of at average a million acquisition basis XX% at loans impact quarter as XXXX. ’XX. And same and in the acquisitions decrease, quarter XX:XX several results. ended to of the the income remainder in financing retention from operating two purchases net and adjusted first Our range the quarter, million, ’XX. of stock agreement $XX.X million on credit focusing continue we period. million. To IT based bit few XX.X% of paid by the increased of or our lines, We So $XX.X as The cover the program income. QX of was dividend, $X,XXX increase million adjusted of XX:XX recent March EPS $X.X continue of Consolidated of cash the of million tax software was LTM equivalents cash for million the and buybacks DSO used were outlook first of made, -- billion debt in X.X used rate GAAP rates of EBITDA, use a declared quarter infrastructure. the XX.X SS&C's XX:XX for or income or most $XX.X X.X leverage XX:XX and organic during in the the Based a mature spending stock Blue Hubwise Advent X from that million, QX and compliance interest an A product of (ph) to first of X.X% the of and XXXX. net the consolidated debt Capital to a

impact X.X% revenue on assumed to growth remainder approximately million facility, through be and our agreement will interest for growth year. $XXX on at credit the the will will Blue year, negatively impact approximately LIBOR previous for This XX:XX range of QX Blue the current and impact of the organic new the to year of that of acquisitions will guidance. adjusted will put Our will bps interest X.X% and recent bps to the dilution the million X.X%. of the Prism we about rest and Prism assumed new QX. to be contribute of for EPS in spread Blue in for approximately bps the rates, impact $XX Prism by QX LIBOR year expect that including XX:XX organic XXX basis remainder is range increase foreign cost -- $X.XX, of have through our have expected XX:XX facility. compared the adjusted XXX about in XXX XX of for about we will in And the $X.XX we X.X%, year. revenue Hubwise currency be the And On that and acquisition. levels exchange debt the place the on the bps, near-term rates by We in

that QX to expect We staff impact the results. to continued wage inflation costs operating increase and

cash for XXXX, the million basis adjusted expenses pay debt So use to of of for and range our the in to revenue to We XX% the expect year will and stock controlling in of manage and summary, And We'll flow second second our operating EPS assumed to the both million down $X.XX $XXX.X shares quarter in we by buybacks. expenses margins. half in to million, maintaining continue variable and a range pay diluted our of the we of the free million $XXX.X $X,XXX year. $X.XX. range XX:XX have tax of $X,XXX rate adjusted

in in million the to $X.XX $XXX.X of For diluted shares and to revenue EPS million million, full-year the of range the $X.XX. to range range adjusted $X,XXX we million ’XX, of in expect $X,XXX the $XXX

cash the back expect from Bill XX:XX be range operating $X,XXX we to it million. And to I’ll $X,XXX final in for Now of over to comments. turn activities

Bill Stone

for world from force a in The need our change. reliable trusted have instability clients. for XXXX be as XX:XX This to interest just and prospects The operational our start guidance guiding organic of can the has more revenue the X% challenging Thanks, rate EPS reducing stability labor also Prism clients a for Uncertainty Patrick, a provider. Blue mentioned, from made our and uncertainty XX:XX for deals. the growth sign and and dilution the and and increases. due hesitant the environment Patrick catalyst year to we're been

And reduced it for this sales estate investing will footprint. incremental and open including GoCentral accomplish through singularity are and Prism real a We Cost and Blue now digital R&D automation, [indiscernible] are hiring, rolling a others global capture to questions. our efforts and in utilizing our XX:XX AI force aggressively workers, in high to management reduction be this opportunity. I'll low treasury controlled up now. out

Operator

from Alex [Operator UBS. XX:XX take Thank question with Kramm first our Instructions] you. We'll

Alex Kramm

good say But and the heard of into uncertainty Maybe would starting quarter-over-quarter, traditional do hey Yes, think managers, here quarter the decels you asset highs and I well in DST year, multi-year this the everyone. selling XX:XX it's we a I the also obviously on world. had et I coming on that markets, equity side growth still very back cetera. off in environment of lot X.X% the evening on just

think is base I fairly customer actually So well. doing your

tick this of that So just particular see in rate at business? again can wondering that if what we DST in kind up in seeing and you're growth Thanks. environment

Bill Stone

give a down those that roll those comment giving businesses Rahul we capabilities but additional comes continue I'll close Well, and large clients have and we only opportunities and lots it XX:XX in DST have also not I out to our Alex of shot to live. in opportunities, then

of teams to any move in on uncertainties up rely of the we do help working you those there them color? organizations is there to process scale us So the and statements more hopefully have And while also But bunch revenue, are financial will we other it, half Rahul start into clients XXXX. roll a second we not then, in and helping on are have large quickly. that then pent these

Rahul Kanwar

also our company. biggest Well is I some these customers -- the are thing one these the are across customers add I'd -- of

in Financial So not and strategic including others the frequently it the but to relationship. value us Advent relationships that's speak does obviously DST Services the the areas, line, of for and are other they and from us DST buy Alternatives, in reflected

Alex Kramm

margin real some last inflationary the think flat up XX:XX I you today. already quick, I Fair think maybe point. this And brought pressure, quarter again Thank then about that. you clearly you year-over-year, on talked just margins for

bit it's the impact than expect are little continue to are tougher that you to how that how do talks to everybody how things just navigate or a this you big So think environment? wondering -- or resignation about going given you going you and

Bill Stone

Well, is instituting I where our retention and know, XX:XX bad that's But power labor of that, all and I be to really inflation the a improve Alex, necessarily are while from to and capital employer and that's are question, great overall create that, choice. kinds we moved you that things of don't thing. think there to a we a environment has able think an wage

and I think move working and sights through inflationary being the that to making XX:XX we're we think employer for on jump a Thank of All back able is - for the side, costs Alex sensitive what adjusting sure to to our I'll short-term going increases employees right, being price and your Kramm great. queue. choice. in the revenue on I remain you. Q

Operator

and with question Citi. our [indiscernible] Andrew we'll from XX:XX Schmidt take next

Andrew Schmidt

XX:XX guys, here. Good taking to thanks Hey for the my see resiliency questions.

just I back like it a forma a First, approaching question growth. envelope just about point should the XXX% X% or think just to Prism, total be Blue we pro had a looks on on there basis, accretive

Just just would opportunity a that's process it big about talk make river that want And opportunity the because little the you into Thanks SS&C in just seems bit timeframe that if Blue like lot. a helpful. and I could one direct there, be correct? the have of sales to force, sure then to Prism plug

Bill Stone

you Rahul, want to take XX:XX that?

Rahul Kanwar

one the Patrick -- on the comment XX:XX on yes. and so first Bill Yes, accretive, can maybe

Patrick Pedonti

revenue, think add much around I does How right? growth? XX:XX to revenue was question your that

Andrew Schmidt

yes. forma pro a basis, On right. Yes, XX:XX

Patrick Pedonti

a million just revenue so I about the then second, a half and remainder third for of year what $XX.X in think $XXX million we have for of our is fourth I Yes, this around forecast our estimating quarter year, had we're financials and quarters. represents XX:XX first for think that month the and the the somewhere and

Andrew Schmidt

XX:XX Right, I guess --

Rahul Kanwar

second, think then to sorry. And I yes XX:XX the

Andrew Schmidt

when just approaching obviously kind XXXX. accretion say, growth, around XX:XX should Yes, of the the to in have that going but it be basis I point XXX obviously should I seems question like but combined growth it accretive, was company guess rate, this when is like more the it base we it seems is

right that's sure want the to make ballpark? Just

Bill Stone

we're You right. getting $XXX you million know, XX-months, about it's think it in if roughly right,

it XX% add $XXX like close be $XX pretty to that's call or rate million let's and that which So X%. something the growth million, would

about we well. how it as that's will think So

Andrew Schmidt

thank Perfect, you Great. XX:XX for that.

Rahul Kanwar

they the so that all then greater So And clients the second I’d whom question, most the workers of obviously of have candidates of part to pretty component actually Yes, right? the to about think of us. XX:XX second I the virtually we say is cross-sell have XX,XXX question. opportunity, pretty them important have digital and to we're are part excited automation

We workers to direct whether performing many folks our a business of of do. have wealth in ourselves look outsourcing have past applications we that digital were also would the

working is rolling out, So fund, for, insurance we're pretty if using or teams hard to able and with an a might technology. coming our are working for that something hard do hedge up company we we you And be on this you're applications be powerful. will here think

So underway. that's all

Andrew Schmidt

lot Perfect. in perspective. then you could about a out out to drivers gain. growth Maybe a we for a talk when see M&A the and the surprise full-year growth playing real share Thanks. that from XX:XX about just there. the is of that a a due perspective little just was that. like It given volumes how the seems Intralinks core there perspective you think And my Appreciate from business

Rahul Kanwar

they a and in lines and to of along Intralinks portals find and be new business and M&A the other they things growth things throughout continue base with have and in to of them clients, the done We great VVR market help they've continue pockets general. with industry then their client and delivery XX:XX and alternatives strong information lot obviously in those very a

the year. of So the we growth similar for expect rest

Andrew Schmidt

Bill, Thanks the XX:XX Rahul, appreciate comments. Perfect. Patrick,

Operator

you the And any our in be of for whether take remind the you Can Heckmann decline rate question. The number us in business. dynamics customer - a your start have would remind timing just correctly, increased fully But next and JV both? the minority if a for revenue, from out. Peter that volumes start losses or taking run be comments the Heckmann to Davidson. want that revenue joint from going we're customers consolidating health you're Thanks remember that sounds XX:XX with how works, Would I to in from first it to then so see some us reflected ramp. majority of with yes, Peter quarter. just or of that coming We'll venture the new Q the and like the then XX:XX interest

Bill Stone

XX:XX is accounting our the by Yes, money partners, each by on owned XX% that. so XX% owned that's and right and of us the how we on do

lot a hope out that one on have that our have we building in as the customers and tremendous partners. money others one pretty platform January but the ‘XX We ‘XX, also track. interest second we're on into January Xst coming roll and of and of [indiscernible] Xst on then as interest into is much to partners the We to of

expect XXXX XX we or revenue years. So, to ramp through nicely next in five the

where are. really first about it's the claims adjudication the world think and we excited process in about And it. PBM excited so We we're cloud-based we're

Peter Heckmann

January me And happened, XX:XX if got -- And the of aggregate that I that remind then could was large it. actual happened Got Can customer, a several? one it, as in or when revenue regards it an you quarter. loss me if just was of you deconversion just remind decline X? this that and just

Bill Stone

XX:XX Yes, January X. it happened

Rahul Kanwar

represents half. a about right, XX of about And and one XX:XX total several XX million of million them so that's to and

Peter Heckmann

you okay. end should acquisition, the Got And like of the think then you by close do do own that it, feel shares the XX:XX on summer?

Rahul Kanwar

for now But requirements. little think unpredictable, I because end XX:XX of scheduled is right some June. there the it's I think scheduled approval

Peter Heckmann

XX:XX Okay. I appreciate it.

Operator

from next Morgan And with Faucette XX:XX question our we'll James Stanley. take

Jonathan

Thanks on this questions. Jonathan taking for James. Hey, is for XX:XX the

wage How drive alluded customers seeing? you're that uplift pricing from it to these XXX had is and or offset to price you going I increased inflation to price of a points -- that Analyst offset basis enough to think the of if magnitude increasing with talked inflation. increases Day And wage the sort you growth. are back conversations call to about, year So price driving last

Bill Stone

since and underway months, process so Well, XX:XX I six prices our I of now mean, different partner. we we're force make understand, it's after all is what's to sure across that talented able has our be take be but the and or the a and labor and and a a I process to inflation month I And planning think well cover and on and increased and think happening month very up very we're to the ticked to have board five we're our last trusted customers care obviously vendors. raising them most know, going you think for we almost costs continue the no of strong

Jonathan

broader XX:XX Got of the it. the platform required RPA thinking that the investment And have RPA a or of head opportunity. the How you service are about follow-up on you count magnitude inclusive Blue Prism?

Bill Stone

developers, a have and NLP many, AI as we large many as well XX:XX -- learning. and development RPA talented have we again Well, machine organization, we

staff complemented a Prism So big great. we Blue have and

to replace didn't to whole total, to years, the workers very holy se that's digital over grow us such you that -- technology next acquisition have, doesn't grail doing of think And human deploy to it mean, certainly workers, high be would the bring this very, per workers for augment a general, and human switch So way. headcount able it's is in workers three to two strong we to think but XXXs that I that the had power them allow have we allows if in not which likely and of X,XXXs in them, digital will hopefully to I of we're going technologies. or

Jonathan

the XX:XX Bill. Appreciate color, Thank you.

Operator

XX:XX Suisse. We'll take our next question McVeigh from with Credit Kevin

Kevin McVeigh

Prism? client to about -- Is existing any opportunity were muted much. XX,XXX there the thanks base is across way your potential think what think Great, XX:XX clients. I so we for obviously revenue Blue

You again time way know, about know there any what revenue across to base? you -- contribution is the can think client be, existing over the

Bill Stone

want you take Rahul, that? to XX:XX

Rahul Kanwar

XX:XX Yes, sure, thanks. Bill,

opportunity So it's client the as in debt X, base, current Prism huge market, probably Blue X anticipate And of some right. amount we of that we have and just a does, X, a that our change multiple XXX $XXX and the of kind lend that and out technology. as representing noted or -- themselves this market potentially the this of done more a there right to are XX% as as as much line jobs Bill times are of consultants billion all

So of -- we the at the And the we we're better do just market. to we're mindful can focus that off have we're obviously trying time, on specific same things size Prism and out building Blue with and a we're cases on the in than additional applications. number those that of they anybody customers else use working have and already has deployed them

Kevin McVeigh

was like XX has then that seasonality retention, that I or retention you XX:XX that Historically, the it just think there little points should seems stay It's helpful. been right, And basis wanted revenue Is we that? said to about around think sequentially. up confirm XX state I level. should the revenue how it a

Bill Stone

XX:XX [Multiple that. around Speakers]

Kevin McVeigh

Okay, you. Thank XX:XX great.

Patrick Pedonti

couple years. In historical XX:XX range, assume, I last over the the of

Kevin McVeigh

XX:XX Thank you, Patrick.

Operator

XX:XX Alex from question next UBS. All Kramm right. We'll take with our

Alex Kramm

bake Oh, interest here, cetera. was terms interest hello for the make rate interest the dollar to rate amounts you that increase? even easier us the give Patrick follow-ups one et And of XX:XX actually in expense. in on expense environment, for quarters quick, it can rising color you the that of of expect had just us, some as for next a you Maybe couple three of again. of that the Thanks, kind

Patrick Pedonti

XX:XX Sure.

year million I million talked on think -- $XXX about is total. which new debt the year. about in the $XX million Prism, We for think, this to I or including $XX Blue

Alex Kramm

XX:XX -- know want the terms I it's to I Okay guess I any you you guess if -- have assumptions that in -- share given and don't of ramp, yes

Patrick Pedonti

the X.XX% would right average say, now, And is that, basis higher probably would points then new the points I I on it is facility and mean of another QX. original rate because XX around goes QX up basis in No, the XX in facility -- yes, interest spread. another think our XX:XX I know, than XX you and say I basis

Alex Kramm

the and the I last is one reasons comp the a pay rising And Thanks stock-based rate then, now? just about sorry, mostly company to there big for and do then about up debt a as Is is that think are assuming in helpful. the -- that think step quarter-over-quarter. Super appetite one, or think then, that year. run XX:XX you here And you And capital why highest for a deployment quick off interest still good rate any good increased as we think we it. step just yes, basically buybacks second for that's that. given through history environment was

Bill Stone

than Alex, it and still a I to a think think I'll down as to turn stock, we're back more effective debt. paying Well, our aggressively of Yes, I XX:XX then be it this, going financially would take a we see Patrick part -- buying quite buy it bit you.

dividend. XX that. so know a X.X% you that now, continue and a then pay But we restructuring going or rates in cash generate interest share we're to rise, revisit bucks right $X Although and know, if plus we'll you to $XX

I change so makes think sense a think it sure. could rates for stock. and I back economically, interest lot to -- But buy more rising

as bonus a the and programs tried to lot as have have We that more the of them and bonus cash most equity be into driver programs cash to less complement of program. bonus move the of a cash the of

and the can equity we've to think And labor there compensation order reduce again tough done can. out we close And pretty be market probably jump in stock-based I forward. attrition would think I that is do going everything to So we much to-date. good pretty it's a it that as where we're think as going I to will

Alex Kramm

Thanks XX:XX Helpful. All right. again.

Operator

Chris XX:XX Donat We'll with Sandler. next take Piper our question from

Chris Donat

on on and for markets. And alternatives Rahul you my alternatives one lot it for private then the good private first the the is and slide XX%, just in What this that your XX:XX thanks -- in see quarter Hey, can for driving the deck. strength XX.X% growth markets a business afternoon, shifting taking of I if what's in competition had growing in SS&C? the questions. comment opportunities with you I'm curious over to in-house shows

Rahul Kanwar

they it's differentiating. that, that in process is XX:XX the start folks bit had us less operations somebody decade as say so They funds. where us a continuation Sure, I market investment made a that little have use it's or all off mostly or of new over like that we we would think a and in-house but technology trend of and

and classes, transfers these of lending, is lot are internal. of the a these And and many launches private credit classes, natural that's private the private provider asset equity then business, market in assets, biggest of real private asset capability and hard and for So a we it there’s new private we’re of the there to is the getting more combination of assets in they’re strong better. world. particularly as funds as well have real to funds we're and place So equity, so a a really because come keeps XX:XX hard

that positive So both growth think think all of is trend I leads sustainable. to, we and that a

Chris Donat

the optimism Okay, got And then just XX:XX Bill, on for business care it. the health future. your

there, to the us that this of quarter second a press or releases way that, outside need till we'll or on flurry those best for progress quarter wait will what's is we see results. For for third something track results year the to

keep we should that making? how Just progress an one eye on to try and you're

Bill Stone

new people think I releases. customers, But we've good far. wood, sign who as our and sure we're make knock to the pretty you on on on to new done kicking that, have going want Yes, the job milestones are know, and XX:XX so would we partners, deliver that technology a tires press we

come so revenue of to are think prove this I So down more chunks wise and and I large gone healthcare are scale think that to have I path. there these been and have think, we’ll organizations, to large

Chris Donat

thank XX:XX you. Okay,

Operator

way workforce question Blue Hey follow-ups Prism with Andrew from digital opportunity Prism our in I my XX:XX across here. thanks take And think that - for Is included that productivity or the Schmidt opportunity we'll And or to next implement a Blue is Citi. is opportunity? perspective? a wanted the ask separate client Thanks. about any there ramp margin this guys, to operations. taking XX:XX Q Schmidt the size about then, Andrew from see

Bill Stone

would a we opportunity. as separate Yes, view XX:XX it

of its we get the our and have to then Prism. really client Blue well, market able think inner deploy the a two they increases productivity where units has business I that being lot room products, I running think base and Prism Blue to inside I SS&C,

So something strengthens was that doing really reasons one business. be think for it our I of going that strategic to really, the it's and

Andrew Schmidt

then from perhaps all being if comfort margin Blue has for about outlook relative the up, contemplating point volatility the XX:XX just there to And Prism the that the cost feel just in stable so taking your prior on from obviously Bill. and That's Thanks of helpful. to there? wage more then some incremental outlook year at just out cost Thank changed some come you, how And is you we've curious a more tick this just seen some because level a -- big do forward, lot. pressure?

Bill Stone

react pay to year rather we have ball obviously our we're don't of the the I crystal the one now at depending that our sure ’XX. we have we bonus then to have going of no a the of it mean either, trying have what on and a now we're that it after in to we competitiveness. marketplace, parts majority policies QX. in first part we're of than it Right QX, in is done workforce. that going so out we're in way paid bonus, have of XX:XX Yes, And in of think right And we talented we're some some the quarter and happens react rearrange but so things to compensation to first shape, reasonable spread we right quarter to the and make in think sensitive that

a and we're in workforce there's and that well our by they're mind their changes making received number our foremost of that they biggest that asset. our hopefully and So know being

changes inflation going charts. the aren’t the in any serve off our given more keep interest don't So rate

think reasonable shape. in I we're

Andrew Schmidt

XX:XX Thank I you Got Bill. it. it. very much, appreciate

Operator

ahead. O'Shaughnessy question XX:XX with Raymond Patrick Our from comes next go James. Please

Patrick O'Shaughnessy

Prism how mechanically legacy about that have guys [indiscernible] or Prism, their Blue going Blue the good you Hey, team base. legacy to is who afternoon. Prism work? Question the Blue Is to how to added to your salespeople client based cross-sell with it going the people is do SS&C XX:XX is approach

Bill Stone

XX:XX use right. Well, force it’s sales current both. our and Obviously, cases, we're getting training some

So they a engineer rules-based create with work that of call have that digital to -- where a some reconciliation verifier worker like an worker work this that's take have that, and repetitive digital or digital called and they we then deploy. expert you an a other we capability has and

wants optimistic interested have in, so personnel, he And it something forces. salespeople and But is have to buy. and about our we use our kind use cases, sell train well to whether it's so pretty have as Blue cases to is have to as of sales both that like Prism we What stuff, that the buy we own. use everybody we're

adoption we So will that the feel I I than -- think. be swifter think will strongly pretty be, usual,

Patrick O'Shaughnessy

the that the outlook And That's by, income then for Patrick you. midpoint. a your at Thank What's net it. decreased Got midpoint outlook. previous the I XX:XX relative your to by adjusted differential? million driving believe, million helpful. full-year flow its But outlook decreased operating question cash $XX at $XXX

Patrick Pedonti

employees first that bonus annual an the succeed Bill the institute is $XX couple this instead quarter to going driving affecting for Blue Prism year, that's to having for going about There’s mentioned then we’re were flow. now ’XX, some that deal are year related a cash make $XX I XX:XX things there we of million of one think are in million are quarterly differential, a of bonus, that hitting to some this $XX financing so of cash and flow, costs or payments acquisition and the million so

Patrick O'Shaughnessy

much. it. Got very Thank XX:XX you

Operator

turn Bill XX:XX And back additional I question-and-answer would any that closing session. concludes to like remarks. to or Stone call for over the the

Bill Stone

quarter. to a at the the all XX:XX several the Well, next again, executing today lot. we we and Bye. over and talking appreciate months being on you of the call Thanks second to end forward you look

Operator

Thank you that conclude may And participation your presentation. now XX:XX disconnect. and for you does today's

SS&C Technologies (SSNC) 29 Apr 222022 Q1 Earnings call transcript