SSNC - Earnings call transcript Q2 2022 | SS&C Technologies Holdings, Inc.

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

Operator

Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today. At this time, I would like to welcome everyone to the SS&C Technologies Second Quarter 2022 Earnings Conference Call. [Operator Instructions] It is now my pleasure to turn today’s call over to Justine Stone, Head of Investor Relations. Please go ahead.

Justine Stone

everyone. Hi, you for thank earnings QX joining call. for and our us XXXX Welcome Investor Technologies. for Justine Relations I’m Stone, SS&C With me Officer; today Executive our Officer; is Financial Bill Stone, Kanwar, Chief and Chairman President Chief Operating Officer. and Pedonti, Rahul Patrick and Chief

the the XX-K, these those safe harbor is the outlook started, with and a discussed various Securities only note Actual forward-looking we Private by of statements make on about provide, the result we provisions can and including plans for Risk statement. future SEC Please accessed today constitute on Before expectations our we materially also the forward-looking expectations, important as Act Form review Factors purposes prospects, XX, Reform harbor These section safe factors, of of annual get as may our today July which let’s results statements in under represent of recent website. our from file of forward-looking most that the remarks be indicated including various those Litigation statements financial on XXXX. XXXX. report differ

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

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

Bill Stone

and for joining. thanks, everyone, Justine, Thanks,

million X.X% up was adjusted consolidated earnings for quarter, adjusted are XX.X%. EBITDA and the XX%. the diluted $X.XX first $XXX.X revenue, Our billion per quarter results our share, was $X.XX and for Adjusted and down in EBITDA margin

FX Continued elevated labor our economic prices, a weaker results interest put on our versus higher-than-expected expectations. backdrop, pressure headwinds and rates,

adjusted was X.X%. first up quarter revenue organic Our

from and of Intralinks Ex our X.X%. revenue health our ended the M&A QX operating care businesses be million QX back of ended activities from and organic up $XXX.X growth cash Financial We have XX% Alternatives, leaders. continued buying June generated in of the Our were discussions, Services paid to months SS&C our stock Advent which ‘XX we net down X some to growth in impact due for about restricted million debt. $XXX.X the was XX. ‘XX business, in

and leverage Our will which consolidated business reduce to main is our while DomaniRx, seeing was leverage in especially ‘XX. X.XX, to organic revenue more as are care and consolidated headwinds XXX compared secured business, there weakness growth. leverage XXX total our We net basis the ratio or growth, at be to Overall, EBITDA net our expected invest continue secured we X.XXx net X challenges we X the company headwind to ratio now initially somewhat to affecting believe health in our expected, to is goal less. -- stands than our

on on have scale and beyond, We a faith development release in can and lot broad what X/X/’XX. XXXX target of for deliver Domani currently and in it is

share grow to has is margins. $XX level. continue has to -- Intralinks XX% Intralinks our XX% [dent] expect affecting and by value, in despite the total deal and to growing excellent Second, the gain million plan. the M&A full dip from to still still They’re original market And continues in close market about about DOY,

impact. FX Lastly, the brunt taken has Financial Services the of business the

and additional we strong many As $XX headwinds the been half. in FX million of know, expect you in has an unprecedentedly the second dollar

over be the plateauing. margins communicated our operations the initiatives, detail. labor Blue levels this the estate curbed On signs are back our exiting increases throughout some with to quarter of for historical slide spending to but employee the attrition, costs in digital We’ll side, we which and cost in up along our to workers elevated, reductions, in of Prism’s second bonuses remain the which drive in have and the round year. I’ll focus the discuss has turn March remainder year. tightly our IT controlling now there of highlighted our Real implementing more We April, deck. it expense Rahul of merit will our

Rahul Kanwar

Bill. Thanks,

of business Our QX. face manifested in that challenges remains macroeconomic resilient in the

the asset a some you noted, agency with us largest in classes As XX European is of strong models important impact to NABs new XX.X% commercial revenue production, totaling billion. among an and with also streams. some and exchange over grew the fund funds business nicely our business roll muting providing our Alternatives and international thesis AUM in impact impacted demonstrated to demand in enabling sales more due our $XXX a clients headwinds long-standing processing gives approximate differentiator reduction wealth seeing functionality, hedge our environment Bill, The Intralinks process. volumes, on QX. that efficiencies and diversification GoCentral but an We in M&A despite Alternatives market X,XXX have types, launches our fund foreign market business continues pressures. and now out new in against to fund to grew in The daily inflows. GoCentral

our and gateway new notes financial given DomaniRx offering. can strategies progress. positioned cycle, in initial to in advantage execute joint we API investment of business take completed developer of successfully venture the Markets of and As and a shifting of breadth portal. our cloud-based had volatility product well the the now also a system quarter continues The make strong to Financial the wake and are configuration have market build

elevated quarter in communications for management SS&C the existing delivered can We the and in ever several clients be SS&C private slowdown that in second health go-to-market plans technology, Private activity. and XXXX. QX modular to years sold markets including efficiencies hybrid grew prospects data. of drug and private following a products, subsegment. more particularly can expertise our now individual fashion clients have providers hub and looking and service fundraising and accelerated markets drive credit despite key funds partner starting utilizing as XX% than DomaniRx attractive finance, in with are and a Prospects are

and multiple We other credit space the deals technologies innovate and have incorporating in pipeline. large continue Geneva to leading private in this

hedge $XX optimizer record-keeping I retirement equity their solution. Now will wealth advanced some An a is floor SS&C AUM billion fund, existing Geneva user our workflow. will to accounting time its firm efficiency existing replace division, transform run technology mention now extended gain SS&C after for to services firm with in their QX. Singularity big a all large multiyear manager to first SS&C’s operating to a interval it the operational TRAC-X A Aloha Patrick tax client An an deals service chose to added key launching chose services to trust. center chose customer Porsche SS&C for their transfer to services services, significantly acquired business, a An estate licenses fund agency added acquired for global services. for extended SS&C’s alternatives seeking and turn over The fund private retail retail real Australia U.S. our through recently GIDS customer Silvan, transfer expertise. an and insurer the large and process. existing newly Dutch a nontraded I client investment registered for services a to due A its event model existing financials. Recon account investment and investment shows improved improving SS&C’s their sales agency provide

Patrick Pedonti

net for Thank revenue per XX.X% Adjusted for revenue share income were adjustments acquisition. million Adjusted over QX. of Adjusted operating XXXX. $X,XXX.X of and $X,XXX decrease of or QX $XXX.X GAAP diluted X.X% including million X.X% impact for acquired revenue million. $X.XX, adjusted deferred was XXX EPS earnings standard up X.X%. the in the an GAAP you. second increased was income net adoption $X.XX. revenues Adjusted was diluted Results income and decreased million, the Adjusted were quarter of of $XXX.X billion, revenues revenue $XX the and

million. $XX.X contributed acquisitions Our

X.X% in $XX.X million second $XX.X revenue Expenses health or currency and was second impacted including strength a Alternatives, million million, organic second Ad operating GIDS the margins by basis in unfavorable strength exchange Intralinks, million operating lines, in had product increased or Advent currency of ‘XX costs basis. Ads Adjusted X.X% added in in and Acquisitions quarter constant quarter. of was several Foreign by the the on the were an had across was impact our on constant second XXXX. Adjusted a currency XX.X% in and foreign income We quarter businesses. the X.X%. compared quarter business increased $XX to weakness XX.X% agency quarter for care of Adjusted decreased the transfer decrease $XX.X of a XXXX. X.X% of million. $XXX.X expenses businesses.

billion sheet million to the exercises in million gross shares Net EPS includes by inflation, and release financing in the our balance was million The tax second the XX compared ended cash of share for during was $XXX.X The was of costs, $XXX.X with quarter, cash the notes was debt. $XXX.X second $X.XX. of of our million million support X million million, used million DomaniRx million as cost and months Note in in quarter which price by of average Adjusted structure X.XX% net decrease effective rate decreased debt Diluted On XXXX. pretax equivalents The defined Our the the expense rate cash in by of average recruiting was the the We and or and quarter million $XX.X in held including cash period the quarter income. $XXX.X quarter. of was second $X.X net a businesses. $XXX.X excludes June higher amortized in in interest cash flow staff of OID. offset the credit XX.X% XXXX. flow, same our impact Operating senior was for high XX%. the equivalents June XX. noncash $X.X from Net $X.X adjusted $XXX.X and $XXX.X impacted defined GAAP option to was as ended income X.XX% was earnings to a to cash $XX.X costs wage agreement, recorded of and provision QX. compared has tax income, adjusted X and and we million decrease

O’Shares of debt. includes million, X XX, amounts and last and of million, compares the Overall, months $XXX.X operating period $XXX.X Blue the down paid we’ve payment declared $XXX.X our associated paid as transaction as of shares compared Treasury paid any were buy quarter XX.X%. Blue last expenses purchase the Blue $XXX.X X.X million to compared of several stock year, we’ve of Total the Prism months. X interest XXXX. X we’ve of and the In with and in includes the $XXX.X last paid million cash $XX.X taxes flows million adds for down the activities approximately were XXXX. million same Hubwise, months, number MineralWare paid $XX period common acquisition result including months million income $X.XXX X which We year-to-date, post-acquisition in this Prism year, In we factors, in that of stock second buybacks $XX.X of compared acquired. in acquisitions to year. the of million to did cash During an the to in that paid Prism, increase June was not shares million billion, net ended by Operating quarter is for and year. a in of million to $XXX.X that

up revenue. June predominantly expenditures was million XX. as a ticked little quarter DSO of infrastructure. total net of of the In XX.X and and compliance our was for software year, X.XXx that covenant couple And XXXX. adjusted for the EBITDA a leverage leverage debt $X.X X.X% to and of X.XXx -- days million, up a capitalized based were was Our couple I’ll March or On totaled days $X.XXX our consolidated capitalized the of assumptions. as IT receivable Capital to software in LTM compared outlook accounts XX.X billion of we through use remainder for on a secured $XX.X ratio June. as Spending go of of

the that will assumed exchange the will third the quarter. assumed average be current in rates XXX XX for of remainder foreign an increase We additional We’ve the interest in bps year. levels bps fourth at have quarter, currency

business And on expect requirements We and we’ll approximately improve variable continue invest reductions, our cash reduce with in margins. X.X%. structure we reduction cash. long staff our flow, working to improving expenditures software facility our On productivity in will to cost the focus and through expenses operating improvement, capital to generate our to cap of term controlling capital

are we generate and also adjusted use of stock rate approximately I joint we’ll allocate both debt to on distribution. one of cash tax flow addition, estate In ventures of would our continue XX% buyback million basis. a real free recapitalizing to we’ll and assume to an $XX cash

XXXX, of billion the result $X.XXX quarter net shares in range to of and to X.X%. we growth million, million range for of range expect the million, range $XXX That in of So to million. third the will $X.XXX of $XXX $XXX.X adjusted the the in Adjusted billion. organic in X.X% income in $XXX.X revenues diluted

X.X% billion. of we $XXX.X Adjusted flow to range diluted $X.XXX Bill the we of $X.XXX for revenue of on be flow adjusted And operating And year the in I’ll growth comments. of over range $XXX.X XXXX, $X.XXX in net shares billion. it the to $X.XXX full the in billion billion and to for full income you. to operating final turn of expect X.X%, in $X.XXX in expect the range For organic range million. $X.XXX cash of the to million billion Thank the to to cash range year, billion

Bill Stone

We and growth track the to on will SS&C, lower workforce, your Patrick. we a expense we’re appreciate interest be base. believe right deliver in revenue and digitized stronger more a which Thanks, continued

up to to and Conference Orlando. see Deliver the questions. now it in first I’ll Our open is hope in October, you week we

Operator

Your question first the with comes Instructions] line Alex Kramm UBS of from Financial. [Operator

Alex Kramm

the up conversations clients. deck, your was think, in pricing comment on I like There a around stepping with

what in pricing and us what So maybe thought maybe flesh And in just hoping maybe updated add just particular, could most growth out change And organic is your this year, Or that could be to you little that you the discussions more. importantly, reflected can could you laid fresh the remind beginning that out? a at bit number? guide? those then that already incremental how of

Bill Stone

price guidance I think, Alex, as have most than incorporated a and think that. some I CPI and increases and Well, into have it obviously, we’ve the is CPI quite higher numbers license also, raising implemented. of few on And that I speak individual maintenance Rahul we we And implementing a think our was [indiscernible] had might throughout. over then have And bit we businesses we we have are few years. last prices our

Rahul Kanwar

Yes.

think it’s CPI, between of I we in where and plus we’re CPI like XX%. look obviously, X% numbers have X of range the -- CPI plus anywhere and those X, some

say doing to where about increases, are or context of makes X sense. the as in with renewing also I to customers We’re price we’ve just -- environment or increases. And inflationary in talked percentage general, going targeting back where would we’re contracts higher the X

And up up bit is Bill has worse. as and of we’ll already end forecast. this been little a cases, we’ll Now little an ongoing end some future cases, And some in the in that better. reflected a in some conversation noted,

Alex Kramm

quick enough. just one. Fair then And Okay. maybe

You M&A be you’ve looking divest buybacks because to what discussions. quarter mentioned businesses, specific. kind was can to to been actually then if just something? of at? there of no are And anything Maybe in out general? clarify, you flesh looking this that some that maybe to areas buy Or you Maybe

Bill Stone

don’t look or we being we’re we’re the at really business. -- to comment buying Yes. And in really Alex. all pretty markets Well, bolster time. But selling, private interested we it our what able portfolio on our

TAC. may think that more new at stuff clients our continue about look be some we we doing moving excited the asset strongly in unique And we’re We’re into. classes to of

going And stock didn’t we we material will that think different that’s those any and that we And would conversations QX trade stock. felt I had of pretty on thought like in would was time. we But at buybacks. variety that so I why in nonpublic ended. one be a conversations have our have active there good guess information, we chance we a So something happen,

Alex Kramm

Sounds good.

there go disclose. I’d if was thought more Just check to

Operator

is with Your the Peter Davidson. D.A. Heckmann from next question of line

Peter Heckmann

the you seeing losses that reflected? in are is quarter? do comment terms fully health Are this year-over-year bottom of growth -- you Is think client in we can it on care? Bill, what the

Bill Stone

think why start a we will of start DomaniRx, I that’s of getting as focus trend. a we some that on have Well, modules showing kind reversal the And of we of such that.

so. For the it’s again, health XX% attrition of had down really or expect. didn’t our than be care it revenue we we But to was, some more X%

And don’t pretty so care there since we bought we in we’re has in health of interest ever business DST. while but a spending lot of anything, a like optimistic hey, that been revenue There’s reductions -- money. lot that and in we’re

So I of lot to owning we a is to when And like have than divesting lot health a better optionality it. think comes it felt care. we have it date,

Peter Heckmann

the be Got attrition, the us based there can also if mean, Or it. it. the or idea of issue And -- around underlying I look number this Would just Got about the covered on without claims metrics? revenue here? health you we attrition is would an an lives? how or is issue thought of give processed care prescriptions main business

Bill Stone

Yes.

we probably $XXX is with the But $XXX that the and And we that’s adjudicate probably large that. revenue. driver million pay. on biggest of $XXX the -- in a think the in range, we’re million. been I Domani, close we’re we’ve to number uptick biggest and million, driver And probably expect the claims up down

regulation different of they PBMs of fees and that have rules. lot states a different there’s always, As charge and

new rules being constantly not And with the are and they in And all not rules able the that time. to we’re enhanced. comply revenue new monitoring -- so are general,

that as with environment deal well. we regulatory So

Operator

Schmidt comes the from Andrew of with Citi. next question Your line

Andrew Schmidt

And Services. if dig but down know this, how bit into and step implementation depth year? a this business sales you’re pipeline, in DST organic little next I you to more growth bit talk the partially on Financial little thinking based you the what second in quarter. in back on in in a wanted mentioned could the growth to the and in half drove just And then about I

Bill Stone

we Well, should now some of we backlog projects get implementing have give very -- that robust that reasonably a lift. have us pipelines, and we’re strong

we would the are deploy increase customers, to rev that think the the think sometimes of for we are is delayed. And say business process. still on But them large sales the that ability support some throughout as is all rec workers gets I the in implementations and I us in of sometimes, development of they’re and these organizations the this personnel. us drawn to out. reducing challenge again, our very rate way the pipeline through our digital our both -- in well help our

So these digital substituted be several we have to FTEs hundred we that workers going think are identified be to able for.

we’re digital needs. think to so to resolution reconciliations, those of instead Sky be with compliance are workers satisfy able and And going things, forth another on. we to Blue in laws hiring different break So these so order XXX, like and deploy and in

very to XX% X becoming some over optimistic higher I our historical with last margin. our we’ve XX we having back all margin or rebounding dominant about We’ve has therefore, we’re labor had than at even And So norm had levels. years. been the this, run wage of and the rates said, And headwinds. way FX like

think business that be of I will number quarters have an next over more excellent. excellent we the So just

Andrew Schmidt

just the this if at an be the on And starting But we’re business, was the issues the then the recall where seems response. is just last across get give of implementation impact like would to implementation. related helpful. but could that in question, appreciate I it having a retention lines just us in an you time workforce And terms detailed Got it. were that and quarter, out. of update smoothed stabilizing terms I

Bill Stone

are people asset pause, jobs the of to want it’s of lot then have quarter. and the beginning because quarter not switch in -- right? also do that. them us be that the their You of a quite number slowdowns second a things it the first not Obviously, the subject realize really and those kinds towards People our also Well, for cutbacks, that of our a in risk. It’s we is companies hemorrhage and biggest in we was don’t you’ve the to announced tend seen people. profitable, to give half of the major like and working back hiring

you away business really of big And a I away us. we’ve Blue of I Blue to a call done financial number what SS&C tax put investments, going [indiscernible] prospect mission-critical because see and Prism. going going optimistic can think or it again, in things, on or was it -- investment some away. a do the about returns we in Prism We believe on able statements is accounting don’t for today with things is that to we’re so we any be of But do not of And other making are big this the is we away. are think going going are together.

at to still So X Sky, we’ll year, at be this core I are think billion that or so the don’t better. revenue end in anywhere maybe of these And we’re $X.X but about the to you on can got customer thing service. execute near what to and is workforce better. to the you first got But be, to focus your you got we’re maintain we expecting us do and

so doing. been And what we’ve that’s

and tremendous R&D. our spent amounts marketing selling of have We and on money

is think about I R&D XX%. up

I up XX%. think marketing sales our is about and

we think I are the money. spending So

I think pay we’re spending dividends. it to it we wisely expect and

Operator

line James. with the O’Shaughnessy of Patrick Your next from comes question Raymond

Patrick O’Shaughnessy

you So debt notes you committed you also But to How the indicated look be those interest about environment. that the market. your on do rate priorities right now? balancing that your active rising today, guys to presentation in think share reducing you repurchase a -- call you’re in

Bill Stone

stock at much look right could cash I forecast that So would depending now, this But -- it as much think probably guess we’ll reduction, But I Carefully, on fluctuate XX% right? buybacks. as debt at XX%. how has generate. we’ll we XX-XX. about that our XX%

with It XX-XX. on could market. it just depends happens be either what So

Patrick O’Shaughnessy

of a the for helpful. you. And would Do EBITDA general company’s you question thumb FX given a for change maybe rule it. a impact much EPS? Got have in how Patrick, That’s or

Patrick Pedonti

For the quarter? second

Patrick O’Shaughnessy

in in you just but I mean, have second the that, in general, dollars. quarter, Just general, if but

Patrick Pedonti

Yes. was where around $X.XXX it’d suspect EPS second be the quarter, And negative in pretty I EPS. $X.XX -- third probably be exchange mean quarter in the on current rates are fourth impact would based to today, the somewhere quarter. to and of the I it’d similar

Operator

Your next question of Stanley. is with line the Faucette James from Morgan

Unidentified Analyst

It’s to James. Michael size hit the on the sort slowing we’ve on I Obviously, also just quickly. like decreasing. of but you’ve wanted launches for seen also the of of hedge backdrop launches fund number the those seen

are So thinking of capture just how your are funds general and blue-chip anecdotally, you What’s the in launches? sort hedge this sort how share environment? in about in current of performing you

Bill Stone

take want Rahul? that, Do you to

Rahul Kanwar

Sure.

periods fund equity. and what the seeing administration the come see we viewed space when fund as what as in tend we’re and leader of think private which the in market in I is as hedge is space people volatility to into pressure, well more

actually perform in crisis in better And ‘XX, tend of again. We that these environments. and financial seeing market the share in so in we’re ‘XX, saw we to kinds that terms of

new aren’t is takeaways launches, and to of opposed us. before So material become And ones new time the capture large, and as as that period as there launches. new our some of to which most take know, but as generally many aren’t you revenue are clients conversions they

around, going anything expect for marketplace. well, in we if is our be and that out process we’re strengthening and share that And will pretty that the what’s as us. of positive pretty there And things winning so turn

Unidentified Analyst

on nature And Blue Can just potential sales back-office reductions? you that of Great. quickly, also saw headcount it that? the that How Is think on headcount about Prism reps? of specifically. just deck we quota-carrying staff? Is in comment sort looking then I the should you’re at those

Bill Stone

Yes, never [indiscernible] salespeople. back on cut we almost

more are as companies, I think combine duplicative. number a that of there’s right, on, you these functions much this is

about we’re we’re that’s finance, Prism so relatively organizations. on other excited are. that our have able being with opportunities legal, support And and IT Blue reduce But in what headcount, to we and moving quickly what whether

Operator

from Donat with the Your Sandler. next question Chris is of line Piper

Chris Donat

the putting wanted I just imagine, on from price very price have your inflation given curious I if little the market side you. other another for of appetite can but I’m they to would to Bill, recognize you inflation the color related it receptivity on things. in increases, the ask increases some give question clients. us the conditions, you’re they and for

wondering with they’re how a grudgingly would Is reacting some it. Just of be pushback? or it Just to lot helpful. color

Bill Stone

respected. Yes. mean Nobody particularly paid want characterized likes current you same and be kind to their the At team price well of have increases. I they time, it. to well

that So free. -- and they realize for that’s not

and And so that girls, I in XX% and that is more, and MO. boys companies populated or say, think not it. that tech -- big is by our walk this an certainly take industry we’re mega leave That’s not

And expense they’re increases us. know pass is, on inflation hitting that trying our on guess they have. the that passing that is that’s we’re they just And so really to

little a of sensitivity cycle, and So with with it’s persistence. much determination natural it do as bit you as can a and you and

going pretty structure going to things to people bonus it’s kind our well, compensate and maintain well. are think think the are I these that that understand ability and of our our So I

Chris Donat

if Okay. And see my follow-up, correctly to I’m connecting for then things here. wanted

Are and your it’s are initiatives, issues? plateauing. but and footprint, and attrition, You’ve work really HR got I estate related the you think Is you’ve comments cost controls Separately, hybrid employee those some separate? estate hybrid initiative got you’ve some work the real you think, about having the made the they reducing said real footprint. under

Bill Stone

people everybody or more of don’t concept their footprint a estate own we would don’t much space. which need office, into Well, office they if their hoteling that have, real having I say and come don’t, So we’re we the they’re right? related, rather doing than

and long So and flexible trying can to they’re we growth service customer be the yes, deliverables work, way we But related. as be we as able that’s for to our as sure, and just be we’re our as changed hit can maintain meet targets.

Operator

is Credit with question the line of Kevin next McVeigh Suisse. from Your

Kevin McVeigh

what controls, course is fully any start maybe the -- the for it? guidance, way any Or over about, to to revised there? that is how maybe guess, there Is about in Patrick, And think impact the the this I in on is cost that the the comes of guidance think what way year?

Patrick Pedonti

Yes.

I think year in rest on as back the and in Blue QX, of reducing Prism possible at holding facilities reduce been baseline $XX much other -- to if productivity the continuing have already improvement million $XX reductions, back look completed. and And you discretionary million as half about product with then of is cost mostly about the got we’ve for which you costs think the the spending. then

Kevin McVeigh

That’s helpful. kind there like the call in AUA of the And it then the and out to market retention there? revenue looks Anything despite volatility. hung really

Bill Stone

can sorry, you that? repeat I’m

Kevin McVeigh

Bill, just then the it that? despite volatility. actually sequentially the to rates revenue out call improved QX particular QX. looks AUA Anything drove retention market to flat anything was clients, from amongst like that the And in

Bill Stone

Rahul in be We strain put that. a awful in I years. help paid about earlier has been lot and fund that think not We SS&C in and AUA that’s participant And space quality. beneficiary acquisitions to going we There’s prices people of competitors extremely kind think these we’ll going a up been of services of of of an as our think think that. couple high under what next shields times, some like immense in that’s of much well. said tumultuous the over to and the us our

Operator

of Schmitt Jeff Blair. question comes with William the Instructions] [Operator from Your line next

Jeff Schmitt

you company? of I projections expected. you it’s gate maybe and have you missed your it it, in better do think that the for XX% case or revenue On it out XX% Yes, Is Blue than thought margin that can get you margins growth exit. change by but do see EBITDA maybe, to XX% and on line the I any you still update an were top then you sounds Prism, expecting the was, like to XXXX to like performing that? XX%

Bill Stone

Yes.

bit they the was little in grew couple at And we maybe I quarter, dollars think a think second operating expected, what in of maybe about better. XX%. kind million of Prism That right a losses. Blue I --

And corporate XX%. about the around our help. and do about year pretty end the for year, all up to We and be it’s in what them averages, to we’re XXXX, second at going XX% in our which expect own customers We they’d we’re about going able besides to business next move XX% think be really to we’re optimistic of and profitability are then half the really probably optimistic. to to this year

Jeff Schmitt

get medical Right, pharmacy right. margins the how medical the on for a sort the losing X of that’s businesses. how big how there. claims to -- losing That’s business, just helpful. much are not much And on those -- of business the part the if difference in if curious loss claims? claims I’m business, sense a of are is trying just of health sort the mainly there, care that you’re those Like EBITDA client the that’s you’re

Bill Stone

And remains still a business had pretty had base, attrition Yes. The client as attrition in we’ve profitable, as we our our profitable, some we have whole actually. -- are in workforce. some

partners. billion $X the And obviously, that So of X of to kind we’re DomaniRx profitability trying is ratio. and [indiscernible] our maintain

today, And because a returns we we -- we’re And great those things. we’re of kinds we pretty I least going the us we’re when big in remain that on. marketplace what we not So fires. a right? mean when optimism, to place the DomaniRx come that’s don’t what to comes take of so And optimistic gate. it bunch us. and pretty right? silver people, gives for not there’s we bet that’s pretty like a out in to in be of just the see bets We expect competitor strategic general at accountants systems to general, And pretty

Operator

questions Mr. Stone. There to over time. the Bill further at turn are no back call now will I this

Bill Stone

Orlando. interest our all look in again. that we the we Again, obviously, the of all came XX% EBITDA And And quarter to appreciate you of show. talking with Bye. I said, forward you And end hope and out upon improve October, in we’ve see to you to the Thanks lot had results. margins. of to we about headwinds hope all still we a we of at as second of right, and

Operator

Ladies call. today’s for concludes you This and participating. gentlemen, thank conference

now may You disconnect.

SS&C Technologies (SSNC) 28 Jul 222022 Q2 Earnings call transcript