SS&C Technologies Files Q2 2024 10-Q

TL;DR

**SS&C Tech Q2 10-Q is IN! Check financials for latest performance.**

AI Summary

SS&C Technologies Holdings Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial data and disclosures relevant to investors are presented, including information on assets, liabilities, and equity.

Why It Matters

This filing provides investors with the official financial results and disclosures for SS&C Technologies for the second quarter of 2024, crucial for understanding the company's performance and outlook.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal risks related to the company's operations, market conditions, or financial health.

Key Numbers

• Q2 2024 — Reporting Period (The second quarter of 2024 financial results are detailed.)
• 1231 — Fiscal Year End (Indicates the company's fiscal year concludes on December 31st.)

Key Players & Entities

• SS&C Technologies Holdings Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of the reporting period
• 2024-08-01 (date) — Filing date
• 80 LAMBERTON RD, WINDSOR, CT 06095 (address) — Company business and mailing address

FAQ

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share SSNC The Nasdaq Global Se

Filing Documents

• ssnc-20240630.htm (10-Q) — 2328KB
• ssnc-ex31_1.htm (EX-31.1) — 11KB
• ssnc-ex31_2.htm (EX-31.2) — 11KB
• ssnc-ex32.htm (EX-32) — 13KB
• img164093595_0.jpg (GRAPHIC) — 9KB
• 0000950170-24-088968.txt ( ) — 9283KB
• ssnc-20240630.xsd (EX-101.SCH) — 1395KB
• ssnc-20240630_htm.xml (XML) — 1635KB

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 16

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 25

Controls and Procedures

Item 4. Controls and Procedures 25

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 26

Risk Factors

Item 1A. Risk Factors 26

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26

Exhibits

Item 6. Exhibits 27 EXHIBIT INDEX 27 SIGNATURE 28 SS&C Technologies Holdings, Inc., or "SS&C Holdings," is our top-level holding company. SS&C Technologies, Inc., or "SS&C," is our primary operating company and a wholly-owned subsidiary of SS&C Technologies Holdings, Inc. "We," "us," "our" and the "Company" mean SS&C Technologies Holdings, Inc. and its consolidated subsidiaries, including SS&C. This Quarterly Report on Form 10-Q may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects", "estimates", "projects", "forecasts", "may", "assume", "intend", "will", "continue", "opportunity", "predict", "potential", "future", "guarantee", "likely", "target", "indicate", "would", "could" and "should" and similar expressions are intended to identify forward-looking statements. The important factors discussed under the caption "Risk Factors" in this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on February 28, 2024, among others, could cause actual results to differ materially from those indicated by forward-looking statements made herein and presented elsewhere by management from time to time. We do not undertake an obligation to update its forward-looking statements to reflect future events or circumstances. 2 PART I

Financ ial Statements

Item 1. Financ ial Statements SS&C TECHNOLOGIES HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDA TED BALANCE SHEETS (In millions, except per share data) (Unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 462.7 $ 432.2 Funds receivable and funds held on behalf of clients 1,624.2 2,615.6 Accounts receivable, net of allowance for credit losses of $ 29.9 and $ 25.1 , respectively 868.4 799.4 Contract assets 40.7 36.1 Prepaid expenses and other current assets 132.8 165.8 Restricted cash and cash equivalents 3.3 2.4 Total current assets 3,132.1 4,051.5 Property, plant and equipment, net (Note 2) 304.7 315.3 Operating lease right-of-use assets 203.9 221.4 Investments (Note 3) 181.2 184.7 Unconsolidated affiliates (Note 4) 337.1 345.2 Contract assets 101.7 99.7 Goodwill (Note 5) 8,935.3 8,969.5 Intangible and other assets, net of accumulated amortization of $ 4,354.1 and $ 4,063.4 , respectively 3,709.2 3,915.2 Total assets $ 16,905.2 $ 18,102.5 Liabilities and Equity Current liabilities: Current portion of long-term debt (Note 6) $ 39.0 $ 51.5 Client funds obligations 1,624.2 2,615.6 Accounts payable 57.2 80.3 Income taxes payable 1.0 22.3 Accrued employee compensation and benefits 221.6 270.2 Interest payable 36.1 29.4 Other accrued expenses 229.7 232.3 Deferred revenues 482.9 470.3 Total current liabilities 2,691.7 3,771.9 Long-term debt, net of current portion (Note 6) 6,575.1 6,668.5 Operating lease liabilities 183.0 199.1 Other long-term liabilities 198.9 248.7 Deferred income taxes 769.7 816.6 Total liabilities 10,418.4 11,704.8 Commitments and contingencies (Note 13) Stockholders' equity (Note 7): Preferred stock, $ 0.01 par value per share, 5.0 million shares authorized; no shares issued — — Class A non