Recurring revenue growth was 7% YoY, driven by both organic growth in ICS and GTO and an acquisition in GTO. Net New Business and Internal Growth contributed to the recurring revenue growth.

The acquisition of Kyndryl's Securities Industry Services (SIS) business on November 1, 2024, expands Broadridge's wealth management, capital markets, and information technology solutions in Canada. SIS is included in the Company's GTO reportable segment.

Closed sales for the three months ended March 31, 2025 were $71.2 million, a decrease of $8.4 million, or 11%, compared to $79.6 million for the three months ended March 31, 2024.

The SIS acquisition is contributing to revenue growth in the GTO segment. Management is focused on integrating the acquired business and realizing synergies.

Management focuses on a variety of key indicators to plan, measure and evaluate the Company's business and financial performance. These performance indicators include Revenue and Recurring revenue as well as not generally accepted accounting principles measures (“Non-GAAP”).

Management expects cash generated by our operations, together with existing cash, cash equivalents, and borrowings from the capital markets, to be sufficient to cover cash needs for working capital, capital expenditures, strategic acquisitions, dividends and common stock repurchases.

There have been no material changes to the risk factors we have disclosed in the “Risk Factors” section of our 2024 Annual Report.

In the normal course of business, the Company is subject to claims and litigation. While the outcome of any claim or litigation is inherently unpredictable, the Company believes that the ultimate resolution of these matters will not, individually or in the aggregate, result in a material impact on its financial condition, results of operations, or cash flows.

Broadridge, a Delaware corporation and a part of the S&P 500® Index, is a global financial technology leader providing investor communications and technology-driven solutions to banks, broker-dealers, asset and wealth managers, public companies, investors and mutual funds.

Our solutions enable better financial lives by powering investing, governance and communications and help reduce the need for our clients to make significant capital investments in operations infrastructure, thereby allowing them to increase their focus on core business activities.

Selling, general and administrative expenses - the decrease of $5.3 million was primarily driven by lower compensation related expenses.

During the fourth quarter of fiscal year 2024, Broadridge completed a corporate restructuring initiative to exit and realign some of its businesses, streamline the Company's management structure, reallocate work to lower cost locations, and reduce headcount in deprioritized areas

Selling, general and administrative expenses - the increase of $10.1 million was primarily driven by higher technology related investments.

As a leading software as a service (“SaaS”) provider, we offer capital markets, wealth and investment management firms modern technology to enable growth, simplify their technology stacks and mutualize costs.

Represents shares purchased from employees to pay taxes related to the vesting of stock-based compensation awards.

During the fiscal quarter ended March 31, 2025, the Company did not repurchase shares of common stock under its share repurchase program. At March 31, 2025, the Company had 7.3 million shares available for repurchase under its share repurchase program.

Processing and distributing proxy materials and annual reports to investors comprises a large portion of our Investor Communication Solutions business.