SS&C Technologies NASDAQ: SSNC reported record second-quarter results for 2026, with executives citing strong renewals, organic growth, acquisitions and continued demand for outsourcing and technology services across the company’s financial services and healthcare businesses.
Chairman and Chief Executive Officer Bill Stone said the quarter set SS&C records for second-quarter revenue, adjusted EBITDA, earnings per share and share repurchases. Adjusted revenue rose 10.3% to $1.6969 billion, while adjusted diluted earnings per share increased 18% to $1.76. Adjusted consolidated EBITDA rose 12% to $670.7 million, with an adjusted consolidated EBITDA margin of 39.5%.
“We continue to demonstrate success in an uncertain backdrop, underscoring the resilience of our diversified business model and the value clients place on our technology, expertise, and innovation,” Stone said.
Organic Growth and Renewals Drive Results
SS&C reported adjusted organic revenue growth of 7.6% in the quarter. Stone attributed the performance to the company’s largest businesses, new business wins, multi-year renewals and market and transaction tailwinds.
Chief Financial Officer Brian Schell said the adjusted revenue increase of $159 million was primarily driven by $118 million of organic growth, $36 million from acquisitions and about $5 million from foreign exchange. Core expenses increased 6.1%, excluding acquisitions and foreign exchange effects.
During the question-and-answer session, Stone said the quarter benefited from a couple of large renewals, including technology license renewals that can create revenue timing effects under accounting rules. “As we get larger, we have more and more of these big clients with big renewals,” Stone said. “We did have a couple of big renewals in Q2, and that’s why organic revenue was up a couple hundred extra basis points.”
President and Chief Operating Officer Rahul Kanwar said SS&C saw strong sales and renewal performance, as well as continued margin expansion. He said outsourcing, co-sourcing and lift-outs, combined with the company’s technology, continue to support revenue growth.
Kanwar also pointed to momentum in SS&C’s front-, middle- and back-office technology business, including Geneva, and said several of the company’s largest pipeline opportunities are anchored by technology.
Share Repurchases Remain Capital Allocation Priority
SS&C returned $499 million to shareholders during the quarter, including 6.4 million shares repurchased for $435.2 million. Stone said that was the highest quarterly buyback in the company’s history. He added that diluted shares outstanding are down 4% over the past year, primarily due to the repurchase program.
“Share repurchases remain our top capital allocation priority,” Stone said, noting that SS&C projects operating cash per share of $7.29 for the year.
For the six months ended June 30, 2026, cash from operating activities was $716 million, up 11% year over year. Schell said SS&C ended the quarter with $435 million in cash and cash equivalents and $7.6 billion in gross debt. Net debt was $7.2 billion, and the company’s net leverage ratio was 2.75 times based on last-12-months consolidated EBITDA of $2.6 billion.
Schell said the company is “actively exploring refinancing opportunities” for bonds maturing in 2027 as it looks to optimize its capital structure.
Acquisitions, Healthcare Platform and AI Highlighted
Stone said the acquisitions completed at the end of 2025, Curo and Calastone, are both tracking ahead of expectations. He said Curo has expanded SS&C’s exposure in EMEA, while Calastone is expected to grow in the mid-teens in 2026 and has added 431 clients to its network.
Stone said SS&C is investing through Calastone in digital investment market capabilities, including infrastructure for tokenized investment products. He said the company’s roadmap includes capabilities intended to allow digital investment transactions to settle using regulated forms of digital cash, including stablecoins and tokenized commercial bank deposits.
In healthcare, Stone said the Medicare GLP-1 Bridge Program launched July 1 and that nearly 3 million claims had been processed using SS&C’s DomaniRx platform to support Humana. He described the program as a demonstration of the platform’s scale, reliability and flexibility.
Kanwar said SS&C is deploying artificial intelligence across its products and operations and described AI as one driver of growth and margin expansion. He said the company’s approach is “governance first” and that tools are proven internally before being offered to customers.
Kanwar cited the company’s WorkHQ platform, saying a global leader in risk reinsurance and capital selected it to scale agentic automation across its business. Stone said later in the call that SS&C’s AI strategy builds on its prior Blue Prism acquisition and emphasizes guardrails for clients in regulated industries.
Guidance Raised for Full-Year 2026
SS&C provided third-quarter revenue guidance of $1.657 billion to $1.697 billion, with 5% organic revenue growth at the midpoint. The company expects third-quarter adjusted net income of $413 million to $429 million and adjusted diluted EPS of $1.73 to $1.79.
For the full year, Schell said SS&C increased its expectations. The company now expects:
- Revenue of $6.672 billion to $6.832 billion.
- Organic revenue growth of 5.5% at the midpoint.
- EBITDA growth of 9.3%.
- EBITDA margin expansion of 50 basis points, with a goal of reaching a 40% margin in the fourth quarter.
- Cash from operating activities of $1.717 billion to $1.817 billion.
- Adjusted net income of $1.67 billion to $1.77 billion.
- Adjusted diluted EPS of $6.93 to $7.25, representing about 15.5% growth at the midpoint.
Schell said the company’s assumptions include short-term interest rates remaining at current levels, an adjusted effective tax rate of about 22.5%, capital expenditures of 4.4% to 4.8% of revenue and a stronger weighting toward share repurchases than debt reduction.
Stone said SS&C’s pipeline remains “full of opportunities,” while cautioning that management would not get ahead of its guidance. “We believe our results speak to the strength of our business and consistency of our execution,” he said. “Our clients continue to invest in SS&C and expand their relationships with us.”
About SS&C Technologies (NASDAQ:SSNC)
SS&C Technologies is a global provider of software and services for the financial services industry, offering technology and outsourcing solutions that support investment managers, asset servicing firms, insurance companies, private equity and real estate managers, hedge funds, wealth managers and other financial institutions. The company's offerings span front-, middle- and back-office functionality, enabling clients to automate trading, portfolio accounting, reconciliation, performance measurement, risk and compliance, and client reporting.
SS&C delivers its capabilities through a mix of licensed software, cloud-based SaaS platforms and managed services.
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