Thank both In you, Peter, I everyone. discussion good refer my today, morning, non-GAAP results. will and and to GAAP
on earnings also reconciliations reminder, support relations these investor our on [ph], in based isolate to I license the solutions making are both license which information to our lumpy we the a provide portion the investors including of supplemental and the materials and allow recognition metrics As excluding to of timing site. revenue progress arena. are of includes this in posted business will of ECS evaluate available outside renewals
My to Infrastructure Solutions, Computing discuss and Enterprise Digital Solutions Cloud our segments will commentary Workplace Solutions. continue Applications of and
Ex-L&S continue a renewal XXXX, value revenue our new by As driven strong for and from clients. start solid year price Peter it during secured we the the growth was solutions Unisys mentioned, our proposition increase strengthen secured and within to is business as rates to
CA&I. sentiment as largely such solutions solid mixed macroeconomic sentiment are cyber increased and DWS uncertainty, we due within around engagement seeing integrations to is and While work certain client in
seeing as healthy which new and are Our and to solid we scope ACV move the existing convert year. pipeline remains revenue with through we clients, TCV will
a and the For revenue digit largely quarter. timing basis license concentration first totaled million, as double The expected XX.X% high driven to on renewals $XXX have XX.X% the in reported. first increase a of was the by quarter, growth within an L&S, was company currency constant which
single as reported, L&S compute revenue quarter revenue, X.X% service by first high X.X% constant digit the ECS. and for and driven specialized currency growth was of in DWS the Excluding growth portion and next-gen
revenue from some Now currency. I and grew strong that began convert first X.X%, to the detail. Please Solutions’ Workplace as wins the segment expansions the for discussing speak note clients as constant benefit be quarter to revenue I’ll recent new existing about Digital in business with segments, revenue. in
improved from renewals of in seen pricing negotiated benefit back Additional several large half was XXXX. on the
we underlying of of have We been currency are the material first impact from any mid-single DWS, XXXX more reflective past and the in year-over-year quarter the segment. is non-strategic constant exiting achieving digit growth the contracts in
which volumes and with saw of some more declined around financial Revenue year-over-year, and investments, Applications the in we for segment where services caution our clients, revenue. segment’s Cloud Infrastructure cloud Solutions XX% particularly X.X% than account
systems we uptick quarter, and licensing, an and cycle in threat shorter During the integration, advisory permitting saw around discovery. cybersecurity sales software and attack in
We XX.X% of nearly with which had with CA&I by application year-over-year opportunities. pipeline Services of within DP&A SS&C another pipeline grew of our are which and licenses comprised Solutions half Compute, activity increased Specialized support solid and solutions segment revenue, pipeline Next-Gen driven in and XX% terms sequentially quarter ECS Computing increasing of revenue XX.X% Enterprise year-over-year. next-gen next-gen services. includes
our of offerings to as XX% our account transportation to grow and recurring continuing significant forward passenger and investments renewals are from revenue These that more services, the logistics streams driven SaaS We for by teams offerings L&S grew as year-over-year industry SS&C revenue the solutions, XX.X% leverage cargo of and than revenue within have make path first clear quantum in decades transportation. occurred financial and quarter. SaaS experience ECS our already data well our travel in license SS&C.
Our the services volatility sector. in critical clients in financial from are Within client base forward path on material operating concentration any impact applications we our clear systems. a mission compute run and L&S, seeing financial the of not L&S large has who
last though with be visibility mentioned are license timing and of we multi-year predict As precision. by a quarter, driven we a revenue high can on of into to have clients level renewals our difficult L&S the basis,
L&S million for L&S second approximately $XXX be $XX revenue expected quarter million. full expect of the However, to to with we year continue revenue
digit Additionally, growth outlook single in to our change double growth L&S has in there digit XXXX. no been for low and revenue XXXX low
consumption early timing is or renewals or exact quarters difficult renew clients of with budgeting processes of upon based choose the So existing to may shift on precision other pricing limits reaching to predict reasons. between can license among and
strong Moving grew driven by year-over-year by renewal year-over-year offset expansion renewal X% TCV mix to existing by driven leading and ACV TCV. indicators, in quarter. or clients XX% logo new Total Contract with Value bookings the rates lower licensed of the declined
basis renewals of and year-over-year relative the X% year. the in TCV on prior license was a up Excluding due support, down the of ACV occurred the to and was X% that quarter to impact mix
total time and trailing XX-month Our book-to-bill both solutions. ratio our company one is for Ex-L&S
sequentially XX% year-over-year. grew pipeline X% Our and
be the we rates in growth our on X% timing expecting revenue expected is expected, which basis and remainder total decline are the renewal we the we are our expansion quarter year-over-year for this reiterating of for Given revenue full continues to Support despite revenue first renewal and the quarter in range year our but of in three range dynamic License remaining to boosted performance, to lower solid positive business. driver our first as the growth revenue Ex-L&S the overall of the strong and levels quarters, a company guidance to renewal clients, in of negative with existing are the X% year-over-year, X%. negative negative assume X%
profit reflecting margin L&S. due XX.X% a expansion renewals gross million versus was and was prior $XXX strong the in year. quarter gross The higher to XX.X% First license
year Additionally, expenses margin gross on contracts. the included with from CA&I associated impact prior charges certain non-recurring
As we a these no charges under to longer delivery were in reminder, subcontract. related solutions of performance subcontractor
IP clauses of on in in gross The surplus the talent, more the We CA&I. making where basis, to quarter of our XX.X% negotiating of organization, non-recurring the We was address versus pricing allocating sequential efficiently margin the efficiencies a bringing value from progress in primarily achieved XX.X% expanding teams down our are contracts implementing of reflects the delivery on external delivery incremental down were our due L&S benefit that margins cost [ph] solutions sales in on year. to margins existing solutions. and living fourth cost year. last committed adjustment Across the are prior
We see which consistent these are gross long-term margin an to through opportunity nature. deliver expansion by gradual processes,
contracting gross signed advanced due DWS to half margins Looking work XX was back XX.X%, margin of in support the by segment, points year-over-year basis staffing at to XXXX.
to improve efficiencies. margins realize through we sequentially and that in revenue the the expect year as continues ramp We to delivery segment
cost First by in segment quarter costs portion margin SS&C to mentioned basis in increased expanding of increase due our CA&I XXXX, ECS previously as the the our as of well driven Expansion and automation charges gross versus we license was leverage the use was XXX outpacing quarter of well markets. ECS. margin in as continue delivery of XX%, year-over-year. XX.X% points quarter growth year labor first as lower was XX.X% efficiencies revenue as to higher the prior renewals gross
the Our in non-GAAP prior margin X.X% versus XX.X% year. negative operating was
remain to of flat quarter X,XXX EBITDA EBITDA we focused increased significantly versus $XX.X which XX%. million our SG&A, points basis roughly And first diligently expanded are the Adjusted continuing to margin adjusted on year-over-year. in $XX.X We to managing held XXXX. million
included U.S. trust March. company’s pension time First the of transfer impact charge assets. charge totaling through $XXX.X no was to of contracts was purchase quarter defined on net by related to to for third-party loss qualified Because which cash this annuity in executed contract the GAAP which million, $XXX settlement plan benefit continued liabilities with This insurers we purchased purchase purchase a million. $XXX.X our annuity made was of was position. the over pension was million, This company’s one-time the strategy there plan, our part non-cash
approximately as in non-GAAP other Excluding reduction totaled tax, prior purchase, impact a as net the year. $XX.X to in expense $XX an of of the loss million of million cost $XX in compared annuity and million and additional income the quarter pension net well of the million expenses $XX.X
first quarter the Non-GAAP of earnings of per a share loss versus XXXX. was in $X.XX $X.XX
of and adjusted EBITDA margin outlook non-GAAP We full year are to of XX.X%. operating profitability X% reiterating X% X.X% margin a to for our
the lower is to these of due expected of first quarter, exceeded be L&S the revenue materially the this levels year. quarter, the first While in we remaining which is quarters largely in the timing in to significantly
to XXX margins implemented more and improvement across basis our cost. and on roles year improve existing needed than DWS CA&I see lower and backfilling increases of delivery as throughout the increasing we from However, continue technology expect and are centralizing a points should and we where infrastructure, at benefits segments gross margin aggregate renewals as price contracts
strategy. a totaled our $XX in flat ongoing first Capital quarter, relatively on and expenditures reflecting CapEx-light execution basis, million the the of year-over-year
to continue We expenditures $XX year million expect between million. capital to and full $XX year-over-year relatively hold flat
negative to negative we the year was $X.X to continue $XX.X in the with due year the quarter, flow approximately in technology at full license in timing, expect $XX to revenue to renewal line higher million be largely quarter. million year to in compared cash expect Despite full million. prior cash due decline, negative we quarter, XXXX Free free the collections flow
Adjusted position quarter the On in free million flow levels March essentially was $XXX.X $XX.X cash cash at year end. of million XXXX, XX, by improving first year-over-year. our unchanged from was million, $XX
Our remained net balance and ratio, times of X.X plans benefit sheet as a end. pension including of liquidity all leverage strong quarter defined with
the million L&S quarter first of in low Looking the cadence revenue revenue by on double caused with to the be during a expected expected year-over-year renewal L&S quarter. expect the year revenue basis the to revenue ahead relative Ex-L&S flat roughly second company overall to be to second decline to sequential due $XX quarter, and approximately we to digits timing,
$X renewals. L&S in non-GAAP by operating the million range $XX to loss of million We the timing modest of expect a driven
upfront within predict on means outlook these revenue us and and difficult on profit operating to quarter to signings ECS full year remember outsized an the is our impact our in that timing Our have Please of quarter. segment the puts our signings revenue achieve revenue a guidance. timing license contract precision recognition given contract track with of of can second
amount pension volatility year from only our approximate to defined forecast the expected end. are our XX-year executed on to conditions, a which once year combination the first of touching a quarter. at contributions has of contributions asset in decreased our qualified that quarter of market This $XXX is million the purchase is and million and estimates regulations plans, forecasts to while updated pension to impact estimate We $XXX benefit year contribution end. modestly actuarial $XXX in positive Briefly financial U.S. million end cash assumptions funding there the due of at approximately the first returns XXXX at annuity due to
defined are and through XXXX Cash expected benefit XXXX. begin in to still plans contributions qualified our U.S. continue to
I that, final for to will some questions. the turn Peter With we open it remarks for line over before
