afternoon Thank good you, those Natalie. call. to on And the all
my was In our and outlook. As an will for another Natalie quarter our provide remarks for mentioned, record AssetMark. today, then I XXXX for quarter second quarter the highlight update results
X, as Quarter-over-quarter, Slide up billion. $XXX.X is assets quarter flows period billion and impact of fee annualized on second Starting platform increased by billion. were platform Year-to-date net flows net X.X%. percentage to beginning year-over-year quarterly X%, of net assets market $X.X of of driven assets $X.X a our XX%
platform, off the know, onto net money are platform. of or redemptions As production flows you less money the comprised or
With Second quarter record the All rates of our onto discussed. Natalie a the than the of quarter. NPS, the are a pleased sign of money advisor has we platform, it our which sign XXXX, still strong the quite production in advisor our flows in satisfaction, strong quarter redemption coming since are with further highlighted low, satisfaction. net all, second we fourth while been is highest
Let’s our in producing metrics. XXX advisors, advisor We or added the new now quarter. NPAs, discuss
since is As NPA highest second the Natalie mentioned, this year. quarter quarterly the number last of
on focusing down us our of and close doubling on which flows. from acquisition advisors in-person areas are We well advisor existing focused can to on stay advisors share to marketing and of and existing We events these strategy. our new position to advisors, positively impact win both wallet digital believe continuing future
show company’s engaged total ending in first we In count. second X,XXX quarter, XX, with our the eclipsed quarter advisor X,XXX engaged On for Slide the we advisors history, advisors. time engaged the our
for we market During engaged the appreciation. result XX, were back who advisors. core engaged those platform advisors $X qualified XX as Of and first above that XX the added moved the were of quarter, asset XX for status threshold advisors million a time
up make XX% the platform for advisors account advisors of engaged using of our XX% and assets. Our all platform
always, business as to advisors management, further and growing engaged crucial growth the our of drive it key its is financials. As of a for number is focus
and level on which is XX% The third the asset of to almost is number growth, up the measure of households are addition non-asset In way count, advisor we households XXX,XXX. year-over-year platform. to based, number our
which let’s Now, to quarter’s this discuss record was turn Slide a revenue, $XXX XX million. to
know, focus on of revenue variable As we you expenses. net related our
million, in the net driven quarter our asset-based This This second market up $XXX a by $XX was year-over-year. record up spread-based more by For impacted is of primarily which was offset than revenue XXXX, revenue, revenue, year was from a million the decline ago. XX% more than which depreciation.
our walk. details year-over-year net revenue XX Slide
line points. basis which securities-backed this revenue just contributed points. year-over-year, waterfall credit discussed. the we on SBLOC, or Year-over-year yield, was shows, net total XX As basis improved spread by our of mainly XXX income, yield spread program, up Of to driven
from XXX basis Excluding quarter the the for contribution was yield SBLOC, points. net
was $X year-over-year, not $X.X of Voyant was fee time part XX% revenue year-over-year. $X.X billable assets, Subscription million which million $X by up which approximately from XX% in on was down last Voyant Adhesion was year-over-year. and this Subscription compression, a to driven Wealth, financials by core from decline offset as approximately year. billion revenue of revenue due primarily revenue up was in Asset-based result of million our $X.X decrease million the
subscription year-over-year. Excluding approximately the impact revenue up FX, of was XX%
our income other cash. largely $X.X driven increased million earned over year-over-year, Lastly, on a by higher income interest corporate
base, great job diversifying our fluctuate. which as We will serve us well of revenue conditions do a market continue to
expenses. let’s discuss Now,
employee XX.X% Turning increased to up to and SG&A. were $XXX both year-over-year Slide compensation $XX operating expenses year-over-year to total adjusted million. driven million, expenses XX, increases Quarterly XX% by in
the increased XX% little or year-over-year, a $X from less increased Adhesion. compensation acquisition half Employee are than headcount of of driven by which XX, million of
million travel, or XX% volume-related year-over-year, and increased events increased by SG&A $X.X driven items.
In back I will As second is of items. the our we pretax, million adjustments through quarter, always, run quickly added the total which for three of $X.X quarter. comprised a
this approximately First, $X.X in to increase anticipate $X million half of non-cash XXXX. we second of the quarter share-based compensation, million per to
strategic led of integration one-time Second, new this related primarily million XX% to reorganization projects related of being Strategy. costs, are our adjustment to Head and by that $X.X of now
Lastly, rate. $X.X XXXX, amortization, our have this quarterly million run we acquisition-related set of in to be
our turn the let’s quarter. to earnings Slide discuss XX Now, for to
$XX.X more EBITDA then Second quarter XXXX quarter. up the million million, last and adjusted was record record a XX% than year-over-year $XX.X
are our EBITDA and pleased with adjusted margin management which testament our XX%. We Adjusted was points this EBITDA and base. quarter, extremely of flexibility a the to to up our diversification basis year-over-year is expense growing disciplined revenue XX
income is million, million, was the or per a net XX.X income record diluted adjusted quarter record a $XX.X the reported $XX.X on a This also of Our share. net was count while based record at second $X.XX share quarter million. for
year is the adjusted Our XX%. tax rate full for now effective
For see further XX. Slide walk income adjusted color, net please on the
sheet. balance would reported the quarter highlight Now, at second let’s I items. look X
second in first to we robust from continue the million our second alone, $XXX XXXX have over to do activities. $XXX $XX million that’s cash on of operating balance activities. cash sheet. credit with operating ended We cash quarter We in company. half in a a great the generated generating cash. available $XXX still In our In job of million have million of facility quarter, generated the the we from First, we
from as component facility remains Our dry important for operations, M&A a generate of deals, strong future ability our an strategy. and of our our cash balance a to us lot give key meaningful credit focus growth powder cash which
new investments Second, focused creating scale and on improving our increased capital reflect long-term – capabilities, reflect our expenditures service. primarily
million productivity was total continue spend re-platforming of XXXX, In we’ll $XX.X capital new X.X% or and our quarter, efforts, build second other initiatives advisors. revenue. the solutions our our For for
X% We expect to while revenue. this a of do all maintaining between to rate X% run
results look on maintaining Now, and commentary our to would make the Slide turning to continues to financial spread-based XX, like we it. that some to provide revenue impact how I on meaningful
spread direct Company, earn a own our to result or our ability is custodian AssetMark of ATC. Our Trust owning
of by know, revenue and at of held function interest is – you investors amount spread-based rates. the cash a As ATC
more percentage ATC at strategists of and put more to First, cash assets at downward something been the as the balance. money to of equity has second or as trajectory work let’s non-discretionary Cash quarter, markets. ICD a percentage drastic return we X.X%, a as to in the more cash as platform fixed happens cash percentage and on Unless a while the total about In in income discuss ICD X.X%. markets, was cash was of historical ATC expect assets level of assets a X.X%. capital
our rates income, These quarter high during to and Fed rate increased their again spread more not July the of interest Turning during second will growth just beneficial our attention rates, stay increases rates highly are the but raised for the rates once meeting. forever.
previous deposits portion X.XX%. a rate XX% in we a with fixed-rate XX, ATC of insured rate discussed quarters, and As in at term, as contracts. to second million fixed quarter, June new term deploy a to $XXX years added X.XX agreements. of In we cash have the fixed-term average growth And of an of started our maturity of is of cash
of optionality As into of we fixed-rate cash to up have term. at a reminder, ATC placing XX% the
calls. to fixed-rate you of the continue term on on deployment cash update will future We into earnings
different sensitivity XXXX. to as market On you Slide assumptions: well three, and XX, we give will fixed-rate when grow some most to approximately be will two, in sense interest three million. interest midpoint cash at expecting rate XXXX of we are the year-over-year; declines, basic approximately of future to cash approximately XX%; in Turning of XXXX, XX% the average rate the will a revenue the to will this term down in total change rates modeled will our slide, ATC start, begin variable are hedged gross in coming start To I one, the rate rates want happen scenarios we ATC to try decline. of assumes spread net $XXX with year.
down spread from interest points, spread to rates income revenue basis down if XXXX be Given basis XX% be X% we – net these points, go assumptions, believe will we spread XXX flat to XX total. interest If expect XXXX down rates XXXX go revenue effectively with results.
be points, revenue go rates down year-over-year. XX% if XXXX net to impact we on XXX down basis to XX% expect Lastly, our the spread
Now, this And and variables of gives of hopefully, a different. year thinking our a there and impact be for is of very next this rough you deposits. math, are could of lot course, sense the our fixed-term positive
turn asset to platform Let’s We outlook. assumption Slide of annual to to guided our XX growth revised our previously in discuss outlook. because annual of XX% a growth XXXX market X.X%
billed our in platform of of increasing are advisor line and fact engagement because the collected This, approximately for percent bottom to organic with deeper stronger We year, we a XX-plus outlook. us better-than-expected have increasing XXXX and impact, and top that market our the asset both revenue gives growth. coupled growth our asset-based three-fourth confidence
expectations a to are to XX% to XX% increasing range growth We revenue XX% XX%. of our from
our to the we expenses, expense our XX%. to of continue XX% are This while allow will to our business, not year revising to to us Turning our to for revenue of growth. from that growth meaningfully maintaining expense invest XX% will growth so outpace discipline, in growth future XX% expense outlook the level
adjusted in feel by XXX revenue basis from growth on growth just to points. we our revising are out, XX% growth plus EBITDA increasing XX% expand to our of expense points ability XX EBITDA outlook result increase we and in margins to laid plus. our our Based adjusted basis confident outlook a I the outlook As outlook,
for history. track in extremely this our the and year are year best about pleased on for company’s are our results We financial
concluding will With hand that, Natalie over I for to remarks.
