SSNC - Earnings call 3 2023 | SS&C Technologies Holdings, Inc.

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Operator

Good afternoon, ladies and gentlemen, and welcome to the SS&C Technologies Q3 2023 Earnings Conference Call. [Operator Instructions], and please be advised that this call is being recorded. [Operator Instructions]

Now at this time, I would like to turn the call over to Ms.

Justine Stone, Head of Investor Relations. ma'am. ahead, go Please

Justine Stone

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

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

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

Bill. earnings I these to call today's call, website at today's in our measures financial non-GAAP turn to Investor will of which financial we is Relations now the comparable in reconciliation included the During will financial of A be non-GAAP referring is certain www.ssctech.com. over measures. section GAAP measures located to release,

Bill Stone

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

earnings X his and organization, and Brian his We're get has months us been you about I him. he to with to He's to welcome the call. all excited of to all encourage his know intellect found bearings. first and brings ideas SS&C Let's for

of per adjusted X.X%, third of Results $X.XX. $X,XXX.X revenue up earnings for quarter the diluted million, share are and adjusted record

We history adjusted consolidated EBITDA highest our also achieved in million. $XXX.X at our second

increase margin from EBITDA Our point basis 'XX. QX XXX was XX.X%, a

third our Markets, adjusted Retirement up revenue driven Our particularly Private Prism. and strength Blue X.X% in organic Intralinks, was quarter by alternatives

revenue which in up is mix of strength. will think SS&C and an streams, X%, our XX.X%, which rate level over recurring was the Financial professional service history. we was underlying for indicator revenue retention Our growth, the QX XXXX services highest businesses' license

million million cash In last X.X% generated activities up period $XX.XX. operating $XXX.X at the months same we over from for X QX average SS&C year. of ended price an $XX.X September shares the for back X.X of XXXX, million bought XX,

We also the to X.XXx quarter raised shareholders and leverage In undervalued, our debt pay dividend SS&C. QX common net SS&C to bringing EBITDA in paid total $XXX.X ratio cash term, our to million attributable expect level the XX% share, XXXX, we to higher million per million $XXX.X we and common stock debt consolidated in year-to-date. repurchases near believe returned stock down $XX.X quarterly of SS&C's $X.XX versus in delivering down. in a to is stock maintain

progress of the Prism lot firm-wide a We've within Blue worker made deployment. digital

count FTE, per X,XXX savings. at Conservatively in run this base. is is X% million January full-time rate savings XXXX head employee our have a We of equivalent $XX,XXX year-to-date, $XXX X, which

about the would small manually. Prism programmed contractors balances. their processing, to Blue a GIDS over required been XX,XXX So process to fund services. the far, that the been example run and businesses, One workers biggest on saving clear $XXX,XXX us large follow-on campaign alternative client successes asked contact GIDS to within a to digital We cash responses to our have outsourcing have is XX customers perform

believe have as reconciliation investor and statement we workers. closing resolution, and begun contract and have break such functions compliance We just statement reap and loan initiative. the operational benefits this notes from from and downloads, alternatives, Within manual investigation to digital benefited

turn over quarter detail. Rahul more in call I'll discuss the the to to now

Rahul Kanwar

Thanks, Bill.

grow to Intralinks accelerating continue alternatives, businesses core nicely, and quarter. with Our Retirement from last

Our the client our of in signed Markets significant in alternatives We very the growth private business. for see future. credit quarter to business foreseeable strength and a the Private boosted QX grew opportunities by X.X% and accelerate sustain

identify cloud-based tools accelerated us classification, attracted growing ] more contract DocuAI to values, in document growth these Intralinks longer clients. to risks. also deal [ lines solution large drive artificial and diligence deal document and released launched deals over the be a translation archives XX% in Intralinks large low. interest from M&A won. despite We've remaining for contract due generative attributed can time and potential DealVault, The to quarter, new recently has help volume and deals uses access efficient designed to data document storage intelligence summaries, and corporate suggested values. management, proactively deliver streamlined increase

newly acquisition sale the through new QX, management date Diamond launched was to broker-dealers. client In platform created Diamond Black Black of RIAs largest and their business to the chose This wealth power the multiple closed.

also our was the Magic Order We We've a are invest Best continue including to in recognitions row. market-centric these Best year leader and of We in approach recognized indicative Provider. R&D. Blue SS&C the Gartner Accounting from and System, support Quadrant Best to for Robotic WatersTechnology, Management in System, Execution fifth customers. for Process X believe System Prism as by XXXX Management a Buy-side awards Management our R&D won Best Automation Portfolio

I'll join I'll SS&C. welcoming him turn financials. to our team rest over the Brian run And through in Bill and to now the management to call the of

Brian Schell

start excited build on of delivering team leadership by Rahul, and SS&C part today the with forward be goal those value. ultimate thank shareholder kind the of looking to Thanks, Bill, help I'm and like the for SS&C strength of you, long-term to I'd remarks. saying to

over adjusted revenue $X,XXX.X Adjusted million per increased increased million X.X%; our $X.XX. XXXX. XXXX results income earnings of million, press a diluted As noted as of earlier in was operating of million, net X.X%; QX release, noted QX the and up X.X% XXXX. EPS income in diluted $XX.X over call, GAAP were $XXX Bill $X,XXX.X QX or reflect our adjusted adjusted revenues and X.X% share revenues increase And $X.XX, our

million $X.X or contributed points. basis acquisitions XX Our approximately

had Foreign impact X%. favorable or a of million $XX.X exchange

a adjusted was constant As revenue X.X%. organic currency on basis result, growth a

revenue income increase $XX.X for quarter the in XXXX third operating third expansion quarter an million X.X% Adjusted third the point quarter million, disciplined of of of the were to and positive the management. XXX The growth impact in XXXX third or reflects margins XX.X% Adjusted XX.X% $XXX.X of in of basis as was XXXX. compared operating quarter both of margin expense XXXX. the

by professional a to basis. and XXXX, been X.X% increased inflation, sequentially. $X.X constant $X compared foreign increased basis our expenses general similar million. structure currency expenses on And excluding our on in that note has by and basis expenses is points only higher and core million a our added cost Acquisitions While impacted increased costs calculated currency $X.X XX down million, personnel or or costs fees million $XX.X acquisitions

EBITDA and XX.X% year. reflects attributable consolidated adjusted XXX Adjusted improvement margin $XX.X earnings X respectively. basis increase of revenue, to The year-over-year the was SS&C, both sequential from of million Note in or in XX.X% million XXX an release, $XXX.X last QX of and EBITDA a points, X.X% defined or

average noncash the $XX.X OID. the amended the 'XX from quarter an third notes, was expense X.XX% for interest financing increase of The third The rate QX 'XX. the million quarter $XXX.X QX amortized X.XX% million quarter of interest costs Net senior compared the excludes for interest 'XX facility, and credit net in of expense was 'XX. million, $X.X to including in of

adjusted million from was in income, effective $X.X drove Note $XXX.X and release, in adjusted count income in net Share Adjusted earnings million X million used XX%. as share was QX. million $X.XX. for repurchases The the rate diluted XXX XXX.X the to was net diluted EPS defined down of tax

agreement, the cash with cash and $XXX.X held of which debt. as XX. defined billion $XXX.X cash in DomaniRx, net of billion as was ended $X.X our quarter SS&C third excludes SS&C's and cash LLC, million $X.X and debt, September equivalents equivalents in at in gross million credit

Based leverage Our X.XXx. billion, ratio September was net for compliance debt was used as of $X,XXX.X covenant LTM of million $X.X EBITDA total our consolidated approximately XXXX. on

leverage as XX. Our of ratio was secured X.XXx September

we our and we to fourth forward in most establishing continue be to our note on quarter As continue client look that will of that will guidance, results. recent rates our focus range service assume retention the the and to

manage ensure efficiency; advantage to to with variable a productivity and improve continue growth effectively increasing business, future and of our will to expenses disciplined We cost take operating expenses R&D, aligning and margins approach the opportunities. investing our in controlling our sales to scale; by marketing, in leverage to

quarter; in remain from flat prior will third tax GAAP to Specifically, revenues, we unchanged year have organic the X.X%. adjusted to the FX the similar to X.X% XX% compared of share in for on guidance; levels; we end X.X%, for be range the year to X.X% from resulting the expenditures current of ending rate approximately QX the more remain at to prior QX. range rates organic repurchases to X.X% unchanged adjusted is which capital an guidance; in of to to basis, X.X% is rates growth at interest a and in of weighted growth the in of emphasis which rate adjusted what through assumed did

in expense, the $XXX discount, EPS million For million; $X.XX be of range shares million; and million to in XXX the the of of income adjusted net excluding diluted $X, of to to adjusted the of in fourth XXX to XXX the $X, revenue financing $XXX diluted million; XXX million; and million deferred original expect costs to million we range the of issue quarter in amortization $XXX of XXXX, $XXX $X.XX. range interest range in range to

XXX.X full to adjusted to of we $X,XXX the in range to of to million activities in of and $X.XX; operating $X,XXX.X million; adjusted million range million; from the be be million the revenue shares $X.XX $X,XXX diluted For million range year in of $X,XXX.X to the million. of net cash range range the million; XXX XXXX, diluted $X,XXX.X income to in EPS expect to the $X,XXX.X in

Bill back Now turn for I'd to comments. it final like to over

Bill Stone

Deliver the Delivering week, the robotics positive. across the Weston, conference XX showcased market hosted and automation. nearly segments theme clients serve, power Thanks, emphasis with solutions and a big feedback AI at key SS&C future We of the X,XXX over we Brian. on conference process prospects in been of initial Earlier the and was has this we our Texas.

for questions. up open I'll it now

Operator

at go to Perlin Instructions] first Dan [Operator this Capital Markets. We'll RBC afternoon

Daniel Perlin

the just retention I on question rates. had revenue a

them, know it's quite As to certainly back XXXX, the actually But it's reasonable. to highest we and back I ever, maybe be of mean uptick, modest we've like pretty it looks looked seen went kind frankly. level at a I maybe

metrics as we banking play your next talk growth? that how and some around into you can might are I go that follow-up. driving organic the So just have of a into about that year

Bill Stone

And the reflects customer track service these us a also of we is really looked putting we customer rates the Dan, we that keep before. run I much and we're at cross-sell we emphasis. may month, really retention base think to upsell current believe calls ability concentration sure we of it client for into put them that the tremendous than our have satisfaction stronger and and every amount making on and

And off. so pay to think and I management emphasis starting our that on customer renewed the relationship programs is

Daniel Perlin

On today. better going sit X ago? the now pretty know don't things are talk been are maybe feeling I vein, and of we I'm has Rahul then much you little a conversion obviously markets, up, you as you're I called same could are Black seeing? very which about private wondering with just how months kind obviously how had, you here that And conversations specifically about or out deal conversion X, as cycles setting wins Diamond. bit within cycles and the same know, Bill, strong, pipeline those

Bill Stone

is Yes, I pipeline I fund think businesses million. administration our that over say $XXX would our in

a of that's lot revenue. So

on them it's up got it, the it their happened of so lead additional QX but seeing looks in right, 'XX. remain generation then just our in walk ought particularly to to lead and I renewals I of the not ability to is does like our get kind a we and areas. XXX got you ticks a And that a Now M&A little going to Intralinks the number And And that in in kind and indicate close park. have close the crapshoot. you QX in that's But and of in to and live, Markets a through we it's were revenue, think of that end little always rebound Private year. a light is but also soft, bit license think marketplace. was strong a on

Operator

at next We'll go D.A. to now Davidson. Peter Heckmann

Peter Heckmann

couple a of follow on I pieces. up wanted to

revenue. software businesses. You the it's bit light noted on software little assume I a legacy that that was primarily

there. do a clarify quarter, license comparison you I be to in if that trying was you quantify amount could filings, Just if the would know but the revenue of tough roughly software your it don't And in there particularly helpful.

Rahul Kanwar

in difference revenue what in ended of a $XX about versus was the where the order to the think up in expected we million from quarter. software I magnitude million $XX we of license

Peter Heckmann

Okay. doesn't was legacy that within software it feel concentrated businesses. But it the

Rahul Kanwar

management institutional as Yes, investment in and business that's right, Advent primarily well. some and impact

Peter Heckmann

some on in the side, then acceleration. And reflect if a up in Okay. large the pipeline? just the I does retirement clients conversion of the missed sorry XX% sequential but I'm go-live of it, quarter, the that

Rahul Kanwar

Yes, progress. it make does. We're continuing to

fully we And few to ago we to one of large about of XX win live revenue in we've right another working live months XXXX, and on did where really is and go been implementing. As to the have I now XX know, that see a that you benefit early them you're scheduled say one deals. to are is want hard happening. we starting

Operator

now next Citi. Andrew go We'll to Schmidt at

Andrew Schmidt

early Welcome, talk I Brian. you early Brian, and the about second. have observations can just you put little it's that here, maybe bit spot but be hit priorities for as on would I some helpful. a ground the you know a initial maybe

Brian Schell

thanks are build would we continuing said that I as question. say momentum priorities And Yes. No, the to have opening and my comments. here, in on try for I the the

and of to contracts they're growth, future is help the what and that leaders is to what looking that with decisions, to the better lines expenses of more has revenue respect are to tools the some at timely think our the things make front continue the important. investment drive around one think, enhance finance I I at actually around using looking do to the decisions, pricing, leadership group they're implementing looking been

the expenses obviously has very making adjusts shareholders. have focused that team with, fixed our that and I'll on expense always accordance revenue margin in to I looking Revenue been variable trying we're the is the bringing outlook. level make think sure spend, appropriate but that at to an growth and is important sure it, we so call and

it's continuation a those say would I So along lines.

see the maybe perspective proactive of to view we're a we putting respect more I that and share the about I think how business metrics we're like in drive help transparent strength again, that we'll work. where more lean and in and visibility, flow, try some get how that it continue incremental to continue what's to to and think to the understand we've increasing driving we And And some said, by indicated, we'll we capital cash and may sometimes and to try that continuing what the buyback say I going would and masked a think bit again, allocation going with numbers allocation towards to be be to put to lastly, I we're heavier the aggregate continue to of those on around those. little piece, highlight trends. be capital doing

Andrew Schmidt

then I good margin, comment. on is looks if XXX margin It pick that, could up quarter fourth progress a The implied my Very the it's, Got And pretty bps least right, up there. it. at Appreciate helpful. math if year-over-year. Brian. like

efficiency, of workers, obviously, that would scale, look ahead, all talk front the can margin an for line opportunities we hopefully, the some in about due have cost maybe As anything it's you to expansion whether helpful. given just you, around top opportunity you be above-trend

Bill Stone

be of our as calls, to I up particularly Eric, don't margins that said driving Yes, a on think we we number difficult. find these

X,XXX great allowed workforce. then or And have we enhancements. add this digital of to us clients, X,XXX Prism our addition end at people look not only continually also been that in by great to having we and have deploying not year the also and workers FTEs a and great Blue We has grow productivity us into

So little margins to the have from have And of manage a We're running opportunity. itself, that pretty driven we're that we a a pretty but back margins when excited debt pretty SS&C, acquired Wall fourth bullish. at Prism, high in talented businesses. We're EBITDA. the even bullish, down quarter second of in business that above they we about probably drive some negative quarter we them We buying as and business, 'XX bit kind quickly. of bullish. hallmark is which at Street not we're is pay XX% We our particularly Blue people stock.

Operator

The next UBS. at now to Kramm Alex

Alex Kramm

that right, Just wanted the implied the mid-single memory digits serves last growth for to me cadence go guidance. quarter, I quarter. and something the fourth look in fourth at more my quarter If was organic was think the

by I points of, your so. bit little guess, X.X downdraft in here expectation or So

us help still maybe prior the changed just relative into expectations factors what and could months the swing in you to X understand year-end? can So last has what be

Bill Stone

think get the just of are Yes, Alex, capital license there's like going stuff on skittish lot in allocations. a major primarily, I world, the right? the swings And -- people businesses, about

QX, And license neck to soft revenue so X%, was third we little hoping QX, recurring the trying fund over in stick administration of we're Like not beginning, that rebounds it we're and on the other was revenue. our but growth at in said businesses. that's quarter our out so a our recurring all revenue primarily businesses and in

build little a guess best maybe trying to to got and you then conservative and we trying give so we're but the in out go our business. we're continue here to QX, And

Alex Kramm

you in years. Fair enough. up, And stable a Do sizable for here seems the pretty X% range. you and be so the come area really this pain in Or range? more to in an maybe or But digits? too that GIDS that's business the at you're business has with maybe I that is just into you're environment think and last mature mid-single of few kind good this very more the in but obviously, of specifically, to then it that about don't business seeing? are is the even that accelerate end just . continue markets there something Or too tough maybe and what happy there ability maybe outlook still feel the

Rahul Kanwar

happy that, more think the there's opportunity. we're I progress, believe time, with right? do the one, same we At

markets kind the services think end as deals array of that wealth we comprehensive end that wealth company. some If gives pipeline, we selling We're a a of you software. about our And and in businesses Australia. biggest include think of markets, the as the managers through in Europe, have managers

can accelerate optimistic where we're, we currently. I that from rate So think, the growth we reasonably are

Bill Stone

we're And So guys intuitive I to familiar And our And a with. add gigantic to are compete bit, our deliver have to right? think ability little products we technology need make more strengths. these systems, just one a you product, Alex, of company, ability our would big, very better. against more it institutions we that is we that greatest out-innovate, our ability to financial

that's of continue what opportunity, GIDS, And mature in stuck you're that's we're same That's why well some we've aware, against as kids, what That's we that's innovate, is But can reasonably do the the our doing and going competitors, we're And doing there's don't to then if in why my remain both have I a doing. to we're what real time, everything And pretty chance. we -- we're with we a really knitting. our go up think bullish. when at business. that's across with they DomaniRx.

Operator

next go Smith to now JPMorgan. Ella We'll at

Eleanor Smith

This from Alexei on Gogolev for JPMorgan. is Ella Smith

in or a anything tuck-in acquisition X you or Bill, you, businesses were market? for think to next XX the existing to M&A. if And offerings? the what pursue you enhance for SS&C's could seeing Are in is question first complement my So months, sale surrounding do products you

Bill Stone

base, take buy sale, into what's constantly depends what can their and it the and can on we our sell price our we we we're base. to stuff what it client all in marketplace, sell and Well, client and for at

are some that a like Canadian we have are U.S. like just imagine, couple really really ago, small that as like as think did pretty of few and months we there other things Australian the market the would the I the tuck-ins we probably And market. here well market. in do, that So interesting. a U.K. Iris that We we like we we'll

the next now X But don't acquisitions. I might closing deploy anything we we months in X we So million be range. to think would $XXX that right on that have in on

good work, price it. So drive can disciplined people you and like it. the get M&A. think to a to we about place at and but you We got We we're be we the give got good to them right think margins at

how And operate. so that's we

Eleanor Smith

this, third was question there? And more the I will hoping well But the Great. for wants growing second retirement you quite take to first next to this XX%, I speak Rahul whoever to be think much and it. could in or you've the quarters. than higher growth quarter, driving did alluded what's in

Rahul Kanwar

revenue backlog them on up. it's live, a as primarily number tick they and bringing we deals of There revenue think we've large think that on I changes to working kind see have been And that live. the we showed come And was our were which up quarter, to see. well. some have in of of XXXX happy we that do as these in kinds we more step some opportunity

Operator

to James Stanley. go We Instructions] now next Faucette at [Operator Morgan

James Faucette

like? Just quick on hedge It earlier especially as the formation on that on potential to with new was market great XX Eze question Just might release year press a trying us compares for share a Any Eclipse fund to maybe of the Eclipse? is you sense to see figure today. client Eze. last look how what Eze sense get more what can on trajectory and to or normalized Eze, growth a

Rahul Kanwar

going on that it business. in kind of Eclipse, think things X.Xx had I of I year clients bit what in last to have X is this number we a we But the maybe kind think year. a as little new period similar of there's relates

lot workflows, not operational derivative of It other is funds, new we continue hedge right? and also a workflows, just add income to So kind we acceptance, We're accelerating. seeing are of workflows. it's fixed

keep kind whether to, kinds and of this the getting bigger. so of services, organizations suite software that they And appeal that's Eze of Eclipse, or

a that, -- of and volatility an performance things sales and There impact market we're equity our the bit up strong. is So kind expanding sales like markets that, there. little our volumes making which progress the But and very progress numbers. in shows of of underlying is are is

James Faucette

think Got this about what for in year last your should contribution or been like price least the to that How this outlook year? then we contributor years, across the issue has it. as I been And of pricing has we of at the growth think a for next an And couple should anticipate how the year? industry.

Brian Schell

Yes.

is at range. it, we disaggregate kind to and quarter. relative over mix time, it's the, this I'll third and hard single As to to look of again, this $XXX that million and call XQ we versus $XXX into the this right, million kind and Again, in, call I factored about sometimes a outflows, think a have of and more of to of talked kind builds the incrementally flows, inflows kind it, to that accelerate could, factor, we've

in. this So for in We're of or we're adjustments more already they seeing CPI nice and building And price automatic having lot here them adjustments kick a increases. contracts. more in so

We're So we're to in seeing incremental it going adoption. contributor revenue not growth. a seeing place. It's

on So expect more I a go-forward that to would basis. of see

Rahul Kanwar

Yes. that, the numbers on I'd expect seeing will about, only given that us. more So automatic what in we to to conversations we have help still maybe client continue we just our escalators, talked that year, do are there these X/X back as get in base, really right? and of on need 'XX, maybe still add half to represents, Brian just And of in a price, we're you're the still --

Bill Stone

$XXX to close but Prism our or that more or up our James, gives we every Blue besides R&D the spend million. This also And that's do spending we look at serve. money like goes to our clients, continue That robust segments it we across what about goes right? good if feel we And quarter. raise offering will on innovate. you when things, spent their prices, we're all on allows spend, year. billion clients different on, what spent up other on we to It $X.X we'll a year, every spending Iris So what

Operator

We'll at Jefferies. go next now to Thind Surinder

Surinder Thind

grander Bill, I big what RPA just just And lot a as automation you in maybe about around terms hype guess enhancements. question such of one are the just is, how general, AI. obviously, here, and picture of here, generative productivity at of technologies there's in getting I'm thinking scheme

is there between opportunity? the here? or technologies stuff So think complementary should there the newer different we about Is How here competition technologies? market

Bill Stone

to this can key glamor kind here, how whole need the to balance. think right? business to of is be, right? a need be you be Let's efficient right? I in balance, Well, not You You in

And a so have a before us and what of allow big new the we we're big you be We to be Some that, right? infrastructure coming to trades of our how have a balance them, to to customers we to do, and sure wow, do spot make COVID through a it's millions have hit for us what things they that, part we there is the them, And fail-over. like to using all of technologies up. that's do all processing part want they process day, had us, that day, learned kinds What of get and kept problems ready stood stuff. we it. And it that spent clients. trade like becomes we They the to right? have next don't Because clients our crisis right? able always and we've really to when don't people really of

think I easier, some of you these so to technologies new kinds what do somewhat somewhat And faster. of are things are allowing those

be got then But careful. to you

in be still to have You balance.

to reconcile. still be able to have You

decide right? to still right. to technology be what understand be humans means, this to at right. always And charge. it's that in it's Otherwise, have have You not able The looking and you always start

as right the too intelligence little have controls, right you add like can technology to that that bit sometimes right the artificial important and it's So processes, be a the procedures stuff stuff artificial. sophisticated

to for and processes to controls well. stay us customers and our sure make I awake it's proper that the in So served important think put are

Surinder Thind

That's helpful. to the business And then just health here. kind of care turning

there Just understanding over care investments look like we terms in any DomaniRx in the And an made, obviously, terms how thinking and has just kind to update in health format. the started you've of of stabilize next year current the cadence. just business dynamics, the about then as just it looks be we should its progress, that of of kind near-term in

color So please. just any there,

Bill Stone

it Well, stabilizing. think is I

job. I a good think we've done

relationships We our have clients. really our improved with

We and do of outside schedule of 'XX, We're first we're quarter huge we of put under on that. have even opportunities DomaniRx. to of the big to opportunities and DomaniRx, lives tens DomaniRx poised some in with upwards have millions

with of technology health think well So be we're very technology and a innovation where care to and opportunity be our lot will we and capabilities an optimistic, is excellent similar received. in segment aging capabilities

Surinder Thind

then just independently within made, organization? investment care we as what investments would does think Or in of, on that leverage the health there as of amount you the Got kind that's going in And resources? and about else you business ability everybody to like your relatively of how terms should terms think call, it. about of I operate the internal

Bill Stone

Well, again, remember, them. most organizations backgrounds of these have in also insurance health care

also big CVS and like we're big pitching Anthem. health care Cigna singularity and so And and other is organizations a Aetna, insurance client

that couple across of we've And Yes, care networks to ill you of large stayed and through take that add need someone said it's to relative I are an got we pretty think is get of process to able working all have being so don't investment. the important. we all be that And have unless our might wealth or and symbiotic. provider made really of a segments, but you one the or also the clients value population, we've able all something to gets And to them of with have get anywhere us of aging hey, that clients you health and as me understanding and system -- a something perseverance that's our our the whacks you to on chin, you took these once, developments. as to think great and

Rahul Kanwar

compute the add is the second processes. of we're of internally And kind in operational just to overlap amount to a fair that that, data centers the there part on of using and

So are other. helping businesses the each

Operator

from Heckmann Davidson. at question We'll follow-up now take a Peter D.A.

Peter Heckmann

on conversion updated the I I you for apologize target Did Domani? date an if it. big missed first provide

Bill Stone

and first have business of we're convert of We're going to -- going quarter convert drug lives. that to beginning of Yes. the millions in tens a big discount we card that's 'XX,

Peter Heckmann

unconsolidated from as I just of have moving fairly to of that little of regards investments be some expected you to just a the DST. investments? in investment number the have think Okay. the affiliates illiquid then into number a falling would I what's Can cash in column left well remind some bit category. still carryover the in but that and us and And investments

Brian Schell

real There's that downtown Yes, a illiquid respect located now, properties we are into a those market but estate still investments continuing it would a take the that an at. number. I more there's of market positive That's in there. even and some look centers. some pulling not still most we're of actually say results, to tough in earnings to positive on office the basis, with lot though buildings are yielding and is is active particularly a right

that's still not, we there's are keeping everything good hang a maybe say that doing it there, covering of bit a job but is would out neutral. cash flow getting of balance reasonably close. But it's So quite I sheet

sitting real So time going probably Those we still that it there. winding are are some take down. assets estate to out are

Operator

afternoon. things gentlemen, to no closing I'd any further for comments. appears we like to And have Mr. Stone, questions it sir, back this turn you,

Bill Stone

look you appreciate the year. after you we the We again, and on. of being all to we end Thanks. of Well, questions to appreciate we where forward appreciate stand, and we talking got, the we

Operator

Stone. Ladies day. great all and Call. SS&C joining you you conclude so Goodbye. a all gentlemen, wish Earnings much would the will for I QX to thank us and Thank Mr. like Technologies Again, you, that XXXX

SS&C Technologies (SSNC) 26 Oct 232023 Q3 Earnings call transcript