Key Highlights

● Revenue rose 10.3% to $1,695.7 million.

● SS&C repurchased 6.4 million shares for $435.2 million, a record.

● Adjusted diluted earnings per share rose 18.1% to $1.76.

● Adjusted organic revenue growth was 7.6%.

SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) reported second-quarter 2026 results on 23 July 2026. Revenue rose 10.3% to $1,695.7 million, and the company repurchased 6.4 million shares for $435.2 million, which it described as a record. Chief executive Bill Stone called it another record quarter.

Business and sector

SS&C provides software and software-enabled services to financial services and healthcare organisations, including fund administration, investment accounting, wealth management platforms and transfer agency functions. It sells through technology-enabled services, which are recurring outsourced arrangements, and through software licences and maintenance. The sector is shaped by asset managers' need to outsource operations, regulatory reporting demands and the use of automation and artificial intelligence in administrative processes.

Latest results

For the quarter ended 30 June 2026, GAAP revenue was $1,695.7 million, compared with $1,536.8 million a year earlier. Adjusted revenue was $1,696.9 million and adjusted organic revenue growth was 7.6%. Technology-enabled services revenue was $1,408.2 million, against $1,267.7 million, and licence, maintenance and related revenue was $287.5 million, against $269.1 million.

GAAP operating income was $417.1 million, a margin of 24.6% compared with 22.4%. Net income attributable to SS&C was $234.8 million, up 29.9%, and GAAP diluted earnings per share were $0.97, up from $0.72. Adjusted diluted earnings per share rose 18.1% to $1.76. Adjusted consolidated EBITDA attributable to SS&C was $670.7 million, a margin of 39.5%.

Financial performance and industry context

Net cash from operating activities was $716.4 million for the first six months of 2026, up 11.1%. At 30 June 2026 gross debt was $7,613.5 million and cash was $434.8 million. The consolidated net leverage ratio was 2.75 times and the net secured leverage ratio was 1.70 times.

SS&C returned $499.2 million to shareholders in the quarter, comprising $435.2 million of share repurchases and $64.0 million of dividends. Over six months it paid $129.3 million in dividends and spent $605.7 million on treasury stock. The company reported negligible acquisition spending of $0.2 million in the first half, so growth in the quarter did not rely on large purchases.

For the third quarter it guided to adjusted revenue of $1,657 million to $1,697 million and adjusted diluted earnings per share of $1.73 to $1.79. For 2026 it guided to adjusted revenue of $6,672 million to $6,832 million, adjusted net income of $1,670 million to $1,770 million and adjusted diluted earnings per share of $6.93 to $7.25. It expects cash from operating activities of $1,717 million to $1,817 million.

Risks and uncertainties

SS&C carries notable debt, and interest expense is guided to $406 million to $416 million for the year. The third-quarter revenue guidance midpoint is slightly below the second-quarter figure, so growth may be uneven. Revenue depends on assets under administration and on market conditions that affect clients' activity. Regulatory changes, cybersecurity incidents and competition from other financial technology providers could affect operations, and large buybacks reduce financial flexibility if acquisition opportunities arise.

Buybacks, leverage and organic growth

The third-quarter report should show whether the company stays within its guided ranges and how organic growth develops after the 7.6% reported in the second quarter. Other items include the level of share repurchases, deleveraging, and any acquisitions that follow the company's recent pause. The company's own commentary on organic growth in its technology-enabled services business, and the effect of artificial intelligence on fund administration workloads, will also be informative. Net leverage of 2.75 times leaves room for continued buybacks, but the balance between debt reduction and shareholder returns remains a management choice that may change. Guidance assumes 241.0 million to 244.0 million diluted shares, which reflects continued repurchases.