Software Success Leads DFIN’s Excellent Quarter

DFIN posted outstanding 2Q earnings today. You can read about it here, but a few highlights:

Our transformation into a software-centric company is well underway and we are positioned to exceed our goal of “44 by ‘24” — that is, 44 percent of DFIN revenue coming from software by 2024.

Our confidence is rooted in record second-quarter software solutions net sales of $71.6 million, an increase of 7.5% from the second quarter of 2021.

A few highlights: compliance software net sales grew 12.7%, with ActiveDisclosure sales up 20%, including a 25% increase in new AD subscription revenue. Venue remained resilient, as net sales were in line with last year’s second quarter (which were up 50% year-over-year), outpacing the trend in capital markets transactional sales. When dealmaking returns, DFIN will be stronger than ever in this important space.

Our strategy is working. Software success is making DFIN fundamentally and sustainably more profitable. Clients are choosing us on the strength of our products, our expertise and our service. We are at the center of their regulatory compliance and governance needs, as they view us as an extension of their team.

Thanks to DFIN’s amazing employees, who deliver every day for our clients and all stakeholders.