happy morning, announce balanced thank and Good lines. us in I'm the solid for today another second and quarter joining between year. the our our discuss quarter of to you top results bottom to
existing ongoing the of managers. Given legacy context to exhibit experienced an technology current especially strength operational in continues differentiated pressures our the business obvious, and industry dynamics, by and alternative macroenvironment to and provides agility. Enfusion revenue valuable investment capabilities,
our average a to expanding are client quarter-on-quarter testament contract trajectory, additions, of value resiliency accelerating healthy and increasing The bookings the margins business.
and headwinds dynamics prospective level business. of for have clients, pleased created with economic with engagement I short-term our existing am our some and industry uncertainty While
challenging to performance caused Macro near the expenses compress term. uncertainty managers in investment in backdrop
have net spending impacting clients top-line their As our retention delayed and launches, dollar our reduced in our fund platform some and of a result, growth.
our market investment up longer. become hedge complex somewhat share cycles remain fund expand segment strategy in sales to implementations managers, management with and our As resulting open our more consistent traditional we the and
see market, the fund while take outcomes. share, most continue footprint, of improvement client we in of expand Despite record. the continue in overall one to year's the to drive fund experience and launch Lastly, market the launches headwinds, we challenging our deliver pockets hedge profitability geographic environments this superior
As we've take capture position our during be enhance we growth brand profile. durable our challenging to in model trajectory It precisely in demonstrated from our deepen is the past, business and to and to competitors tends resilient times. such moat, and times financial our away business when opportunities
Now, discuss let continue more will me few moments. million, Brad walk and key you for Revenue our grew margin. see services. XX% represented $X $XX.X client we our an XX.X% highlights performance of detail million financial quarter. Adjusted the I to demand some to through and software the provide our color for financial more let results and in was EBITDA in a as
profit of shifting context margins, It exceedingly this performance in business ability to and between revenue demonstrates and study industry financial modulate our case which Enfusion's agility this flexibility quarter Our a dynamics. model. of growth of is is important
value machine. us growth that business operating our discipline. set quarter expectations without our maintaining we that this operating off to us leverage sacrificing and Enfusion's higher and our take allocation EBITDA scale, further our eyes acceleration balance creation of is precisely As we will It exceed will achieves durability for never evolves long-term as with up even leverage growth objectives allowed capital
compelling to Now, I would highlight like regions. demonstrating broadening across demand the wins for solution all several our
we via to mostly Management, outlined investment products of to and platform. a multiple delivered earlier. manager investment sought The incumbent the ETFs. providers a ARK welcomed reflecting am platform. software our replace range I revenue with U.S., that announce on innovation firm, comprehensive fund offers Florida-based our its the challenging Investment In to focused year-over-year, have I pleased grew ARK XX% macroenvironment disruptive
vendors, With system. fault our choice conversion ability active Enfusion, more this multiple operational client into become robust a passive benefits as both vehicles TAM from more our and This exciting automated elimination further workflows, validates and strategies. compliance deliver to ETFs segment, across investment lines streamlined expand to this of of and
firm clients. announce the the with an addition, of world's and In asset of largest infrastructure managers. that agreement platform I'm to offers global real estate, that private one other markets to global equity, arm This thrilled institutional signed operates liquid a alternative credit, we strategies
derivative that end-to-end supports provide solution complex its and will of multiple verticals scalable strategies. Enfusion reliable
smooth will Our strategies. systems aggregated for views real-time in APIs open via all architecture proprietary allow integration client's with across
higher of Additionally, the level service. growth much and will of our client enable further support Enfusion's will business high-touch customization by a leveraging platform
for In the about Enfusion, excited increasingly proposition, I XX% competitors. ability and and to in getting like legacy differentiated East. EMEA, are revenue Europe expand driven share year-over-year, grew focus would tactical our we maintaining unique key our stress Continental by Middle incumbent value against that EMEA a strongly market our remains both to
important us for expanding mix revenue asset of serviceable, This traditional and very terms global is our in for market management. addressable our region momentum maintaining into growth,
unreasonably This complex loan-only in includes technology with ability inhibiting which legacy workflows, limitations, struggled London-based handle all provider's to win drove marquee of spending. asset a A high manager $XX Europe product institutional billion the manager.
platform the the patchwork The front-to-back capabilities. of decided and of our of overhaul cohesiveness disparate to solutions and capture and benefits our flexibility client the
a client strategy. through also is Trust. sourced of emphasize engagement example This us, is to our was It agreement to because partnership is product-led this also important Northern with growth it great special win Enfusion's that new
these we express the allows construction framework our and increasing their our to segment, management views design lines, risk capabilities. traditional has asset capture the interactively demand management we implemented system. Along see for active continue to the portfolios team managers their journey portfolio and within portfolio As that
platform, competitive construction process offerings, from this or and execution allowing other and exposures Enfusion's This capability include smoothly many security-specific use the with could portfolio flow factor integrated sector, as order bets. is management the well tightly downstream. to country, rest of into further as Differentiated
utilizes with London-based credit that include manager hedge fund cost capabilities The Enfusion distressed the fund I'm and Enfusion and of and to strategies our and assets. private an public addition, signed because In that derivative various both selected cash support pleased total deep attractive of comprehensive strategies announce trading agreement that our that ownership. credit in
reasons. I'm proud several for of this deal
shortcomings, First, the trade allocation space, domain fund the several functionality. manager processing lack the realizing manual of and in competitor's non-existent had initially credit chose competitor, soon another solution expertise including trade
solution to structure it asset Second, demonstrates pattern well equities a be of for asset managers as an going a seen Enfusion beyond across continues capital class. choice increasingly and where investing
and continue alternative expand asset Europe asset Finally, to based by whose include in geographic in we Continental presence both our equity signing strategies manager classes. fixed-income an Norway,
As dominate this asset that the environment is a market, the Europe to target-rich consistent fund we is with our traditional management mandate within continue positioned go-to-market for and launch segment. strategy
XX% APAC, grew revenue In by year-over-year.
top-line slightly are While below market we encouraged takeaways. the ongoing gains came growth competitive in and for by our share expectations quarter,
disjointed provider's For partnering and compliance and one managers capability. Hong platform, the we on investment an struggled entered clunky functional example, trade announce gain pre-trade and with that an interface to fund the thrilled I'm more process. pre-trade legacy limited frictionless with intuitive many into technologies Kong-based, By The execution alternative agreement allocation they sluggish manager. consolidate workflow Enfusion, event-driven with and
and with equities new setting easy-to-use fixed overhaul a which infrastructure fully agreement a its also was The its looking the income. They architecture and to multi-manager in Singapore-based the Enfusion a because client multi-manager We family up support of setup. end-to-end manages platform. office, to integrated signed selected flexibility
accounting resulting Enfusion will total processes error-prone manual, our and in ownership. cost capabilities, PMS, streamlined of operational and its replace infrastructure reduction OMS in with
where the level and matters Enfusion business as to at continues to provider stakeholders. of complexity at both the a strategy ownership distinguish for the multi-manager itself choice platforms, level,
widen delivering Now I'd our products discuss competition. to Enfusion the partner innovative our in and ecosystem on focus gap our between building new like to continued
announce I'm the excited partnership with cases throughout clients. functionality a and Everest Enfusion to to use automated Technologies platform. available provide Enfusion to powerful workflows extend workflows Everest new
to development. quickly on ability a workflows customized manner The bespoke without our deployed This custom the time-efficient in execute represents to requirements partnership of can connectivity. be significant a API via burden enhancement and
our is that us maintain providers our deliver moat. sets and to technological example to This us team our edge and architecture allows prime our leverage legacy and a in way of a continues from competitive apart innovation how open widen
in most comments, to be the using to release that previous plan X managers my during portfolio excited formally I'm We signed institutional who it highlight quarter quarter. third Reiterating construction our capabilities. more and we will this leveraging
with and portfolio will engine a various set target integrated rebalancing managers passive allocation. seamlessly and including of pre exposures our relative and and implement enable OMS functionality, trade The compliance design benchmarks to to process post-trade, portfolio
appropriate an able be on more share time. some at to will this details We
XXX ongoing Aligned in the with rolled investment enhancements streamline features experience, our the quarter. Enfusion second to and manager efforts out
us Our updates cloud-native and sometimes are a weekly expecting architecture our ahead us to clients what enables and on product nimble deliver. releasing to be basis stay by of aligned
would like I color some to market Now on dynamics. provide
in levels. While launch the launches below this continues well the year in fund market high-profile and the hedge to and segment, ability challenging we're encouraged remains that by uptick to our historical win overall be
toughest managers probably launches. of sort with hedge in environment and and confronted the record, Emerging drift fundraising resulting are cost delayed fund on
is this However, news. old
continue of convergence we dominance our large segment, increasing organic and an complex maintain as in to and managers. we hedge our the the of to win continue minds traditional hearts expect to and expand portion fund growth overall While drive asset
the me strategy of our key forward. some let Now, going review elements of
investment alternative, embrace our strategic address me let First, positioning. transformation. and digital traditional continue both to managers, All
to is attractive compression, comprehensive positioned itself board. shorter its across share, AM onboarding Enfusion market while collide to solution, Global proposition our continue very finds open and value competition accentuate With optimize out position. performance industry need challenging costs cycles, ongoing well consolidation, of architecture, front-to-back to the and environment operating expand our to the
takes to a technology painkiller our to and opposed where engagements delivering XX the of vitamin We'll since beginning remain X competition XX XX months. a within as our months value to starts
to continue a profitable we'll growing and Second, business. run
flexibility our testament management capital always been and and of make staple not a our our that in conditions. ability of change. have to the engine, expense execution of money will is the face a market quarter challenging style, Disciplined allocation This of
margin Focus execution. on profitability to and remains paramount successful expansion
to our to product delivering capabilities while leading excess margins, value us drive clients. allow Our
and segment. grow a puts core it of as Importantly, on us outside our pricing price market our strategy to we position avoid optimize in competing
Third, we delivery benchmark-aware and that construction current end, management norm. traditional growth the view to clients management asset on solutions of management the successful to where segment, To what is as continue to into and are by our asking future risk do. us expansion portfolio we unlock our portfolio executing key
their accommodate by architecture and leveraging choose our management investment clients workflows in with operational environment capabilities and and maintain reporting. we risk models open performance these all-in-one and delivering to philosophy our all allow execution, risk order Here proprietary product integration as tight and to strategies same and compliance, the optimization
Interestingly, including managers benchmark-centric risk proactively manage absolute they various integrated sector, currency, risks. also capabilities see duration country, Enfusion's return and of benefits factor across as dimensions, fully
where Importantly, go we does. continue nobody to else
Middle this the to gaining Europe, As evidenced expand in our East, performance and by especially Europe Continental our efforts quarter, momentum. are
competitive set. ability region. to compete a base Highly field, implementation, against team concentrated, robust execute and and there elongated incumbent well a to technology expensive this and in of continues client opportunity the see outdated our bodes playing extremely We high-quality tired pipeline our an for
model from allows unlock market players expand new segment opportunities. and our niche core purposefully and into unique adjacencies to Our protect us emerging
more win to and continue investments enhance mandates. our make We institutional stance to competitive
on a our we sharper moat Enfusion's our edge in As product stronger. basis, gets weekly gets competitive update
on to competition Enfusion moat expansion our into and without share of Stable still market cloud turn flexibility supports unparalleled and we increase of scale. workflows, an expanded and migrates unnecessary focus flexibility platform distractions. open our While
To conclude the remarks. prepared
our margins Our profit demonstrated to its resiliency industry-specific the macro and and all continues for economic the of created business uncertainty that and clients. challenges our deepen expand have regions. against backdrop footprint has across Enfusion of and model segments market grow
call over now I financials. to Brad will to turn the discuss our
