SS&C Technologies Files Q3 2024 10-Q

TL;DR

**SS&C Tech Q3 10-Q is IN! Check financials for latest performance.**

AI Summary

SS&C Technologies Holdings Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial data and business segments are presented, reflecting the company's ongoing activities in the software and financial services sector.

Why It Matters

This filing provides investors and analysts with the latest financial health and operational performance of SS&C Technologies, crucial for understanding the company's trajectory in the competitive financial technology market.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the inherent risks of the financial technology sector and the company's specific operations contribute to a medium risk level.

Key Numbers

• 13 years — Company History (Indicates long-standing presence in the market.)
• 11 years — Company History (Indicates long-standing presence in the market.)

Key Players & Entities

• SS&C Technologies Holdings Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-10-30 (date) — Filing date of the report
• 80 LAMBERTON RD WINDSOR CT 06095 (address) — Company's 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-20240930.htm (10-Q) — 2448KB
• ssnc-ex31_1.htm (EX-31.1) — 11KB
• ssnc-ex31_2.htm (EX-31.2) — 11KB
• ssnc-ex32.htm (EX-32) — 13KB
• img164096478_0.jpg (GRAPHIC) — 9KB
• 0000950170-24-118979.txt ( ) — 9911KB
• ssnc-20240930.xsd (EX-101.SCH) — 1425KB
• ssnc-20240930_htm.xml (XML) — 1807KB

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets at September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended September 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 17

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 27

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 28

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28

Exhibits

Item 6. Exhibits 29 EXHIBIT INDEX 29 SIGNATURE 30 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) September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 694.7 $ 432.2 Funds receivable and funds held on behalf of clients 2,081.5 2,615.6 Accounts receivable, net of allowance for credit losses of $ 31.5 and $ 25.1 , respectively 934.0 799.4 Contract assets 47.2 36.1 Prepaid expenses and other current assets 129.8 165.8 Restricted cash and cash equivalents 3.5 2.4 Total current assets 3,890.7 4,051.5 Property, plant and equipment, net (Note 2) 309.4 315.3 Operating lease right-of-use assets 193.8 221.4 Investments (Note 3) 184.6 184.7 Unconsolidated affiliates (Note 4) 327.7 345.2 Contract assets 115.2 99.7 Goodwill (Note 6) 9,374.4 8,969.5 Intangible and other assets, net of accumulated amortization of $ 4,537.8 and $ 4,063.4 , respectively 4,042.6 3,915.2 Total assets $ 18,438.4 $ 18,102.5 Liabilities and Equity Current liabilities: Current portion of long-term debt (Note 7) $ 47.1 $ 51.5 Client funds obligations 2,081.6 2,615.6 Accounts payable 43.6 80.3 Income taxes payable 7.7 22.3 Accrued employee compensation and benefits 280.1 270.2 Interest payable 19.7 29.4 Other accrued expenses 275.9 232.3 Deferred revenues 464.0 470.3 Total current liabilities 3,219.7 3,771.9 Long-term debt, net of current portion (Note 7) 7,155.6 6,668.5 Operating lease liabilities 175.4 199.1 Other long-term liabilities 203.4 248.7 Deferred income taxes 796.2 816.6 Total liabilities 11,550.3 11,704.8 Commitments and contingencies (Note 14) Stockholders' equity (Note 8): Preferred stock, $ 0.01 par value per share, 5.0 million shares authorized; no shares issued — — Class