Gold prices drop amid waning rate cut bets; central bank demand remains
SS&C Technologies Holdings Inc (NASDAQ:SSNC) presented its third-quarter 2025 earnings results on October 23, showcasing strong financial performance with revenue growth of 7% and adjusted earnings per share increasing by 17.2% year-over-year. Despite exceeding analyst expectations, the company’s stock declined 1.43% in after-hours trading to $81.43.
Quarterly Performance Highlights
SS&C reported adjusted revenue of $1.57 billion for Q3 2025, representing a 7% increase compared to the same period in 2024. The company achieved adjusted organic revenue growth of 5.2%, with financial services recurring revenue growing at an impressive 6.7%.
Adjusted diluted earnings per share reached $1.57, up 17.2% from $1.34 in Q3 2024, surpassing analysts’ expectations of $1.47. The company also reported GAAP net income attributable to SS&C of $210.0 million, representing a 27.7% increase year-over-year.
As shown in the following financial highlights table, SS&C demonstrated improvement across all key metrics compared to the previous year:
Adjusted consolidated EBITDA reached a quarterly record of $619.0 million, increasing 9.3% from Q3 2024, while the adjusted consolidated EBITDA margin expanded to 39.5%, up 90 basis points from 38.6% in the prior year period.
The company’s cash generation capabilities remained strong, with net cash from operating activities of $1,101.3 million for the nine months ended September 30, 2025, representing a 22.1% increase compared to the same period in 2024.
Detailed Financial Analysis
SS&C’s financial performance has shown consistent improvement over the past several quarters, with steady growth in both revenue and profitability metrics. The following chart illustrates this upward trajectory in adjusted revenue and adjusted consolidated EBITDA:
The company’s adjusted net income attributable to SS&C increased to $396.0 million in Q3 2025, up from $340.0 million in Q3 2024. This improvement in profitability has translated to stronger earnings per share, as shown in the following chart:
Performance varied significantly across business segments. The company’s GlobeOp business led growth with 9.6% organic revenue growth, followed by GIDS and related services at 9.0%. However, Intralinks experienced a decline of 2.8%, while Wealth and Investment Technologies showed modest growth of 1.1%.
The following table provides a detailed breakdown of adjusted organic growth by business segment:
SS&C maintained strong client relationships, as evidenced by a robust revenue retention rate of 96.8% for Q3 2025, slightly down from 97.0% in the previous quarter but consistent with historical performance.
Strategic Initiatives & Acquisitions
During Q3 2025, SS&C continued its balanced approach to capital allocation, distributing $539 million across shareholder returns, debt reduction, and strategic investments. The company repurchased 2.8 million shares for $240.1 million at an average price of $86.82 per share and paid $65.8 million in common stock dividends.
The following chart illustrates SS&C’s capital allocation strategy for both Q3 and year-to-date 2025:
On the acquisition front, SS&C completed its purchase of Calastone on October 14, 2025, for approximately $1.03 billion. The company also announced the acquisition of Curo Fund Services, which is expected to close in Q4 2025. These strategic acquisitions align with SS&C’s growth strategy and expand its service offerings.
SS&C’s alternative assets under administration continued to grow, reaching $2,628 billion in Q3 2025, up from $2,547 billion in Q2 2025 and representing a significant increase from $2,488 billion in Q3 2024.
Forward-Looking Statements
SS&C raised its full-year 2025 guidance, projecting adjusted revenue between $6.21 billion and $6.25 billion, with organic growth at the midpoint of 4.6%. For Q4 2025, the company expects adjusted revenue between $1.59 billion and $1.63 billion, with organic growth of approximately 4.5%.
The company forecasts adjusted diluted earnings per share for the full year 2025 to be between $6.02 and $6.08, with Q4 2025 EPS projected at $1.56 to $1.62. Cash from operating activities is expected to reach $1,515 million to $1,575 million for the full year.
The following guidance table provides a comprehensive overview of SS&C’s financial projections:
During the earnings call, CEO Bill Stone highlighted the company’s innovative approach to AI and automation, stating, "We call ourselves customer zero. We’re doing it across our entire business." He also expressed optimism about private credit markets, noting that "The smartest people in the industry are all over private credit and other new ways in which to develop returns."
While SS&C continues to demonstrate strong financial performance and strategic execution, the company faces challenges including market volatility, integration of recent acquisitions, and competitive pressures in the rapidly evolving technology and financial services sectors. Despite these challenges, the company’s consistent revenue growth, expanding margins, and strategic acquisitions position it well for continued success in the coming quarters.
Full presentation:
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.