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Donnelley Financial Solutions, Inc. (DFIN) is a leading global risk and compliance solutions company, offering regulatory filing and deal solutions through its software-as-a-service (SaaS), technology-enabled services, and print and distribution solutions. Serving public and private entities, mutual funds, and other investment firms, DFIN operates in four main segments: Capital Markets - Software Solutions, Capital Markets - Compliance and Communications Management, Investment Companies - Software Solutions, and Investment Companies - Compliance and Communications Management. The company's geographical footprint spans the United States, Europe, Asia, Canada, and other regions, with the US contributing the largest portion of its revenue.
DFIN's commitment to providing domain expertise, enterprise software, and data analytics at every stage of the business and investment lifecycles is evident as markets fluctuate, regulations evolve, and technology advances. Notably, in 2023, DFIN reported strong performance with a 5.4% growth in organic consolidated net sales in the fourth quarter, driven by its Venue data room offering and Arc Suite software solutions. Additionally, the company achieved significant milestones, such as the successful test filing of iXBRL tagged Tailored Shareholder Reports (TSR) to the SEC, demonstrating leadership in navigating complex regulatory changes.
Financially, DFIN reported robust results for the third quarter of 2023, with Adjusted EBITDA increasing by 9.1% and a margin expansion to 27.4%. The company continues to focus on expanding recurring revenue streams, evidenced by an 8% increase in compliance software platforms like ActiveDisclosure and Arc Suite. Looking forward, DFIN is poised to benefit from new regulations like TSR, expected to boost net sales by $20-$25 million annually by 2025, with a half-year impact in 2024.
DFIN is steadfast in delivering confidence with the right solutions in critical moments. The company stays ahead by integrating innovative technology into its offerings, ensuring compliance and risk management are seamlessly managed for its clients. For more information, visit DFINsolutions.com or follow them on LinkedIn and X (formerly Twitter) @DFINSolutions.
Donnelley Financial Solutions (DFIN) announced a strategic partnership with Cision PR Newswire on June 21, 2021. This collaboration aims to enhance press release distribution and regulatory filing submissions for the investment community, ensuring compliance with SEC disclosure requirements. DFIN will integrate its financial reporting solutions, including ActiveDisclosure, with Cision's global content distribution and investor relations tools. Leaders from both companies expressed optimism, emphasizing the partnership's potential to streamline compliance processes and boost shareholder confidence.
Donnelley Financial Solutions (NYSE: DFIN) announced amendments to its Credit Agreement originally dated September 30, 2016. These revisions include a $200 million delayed-draw term loan A facility and an extension of a $300 million revolving facility's maturity to May 27, 2026. Proceeds from the new credit facility will be used to redeem the 8.25% Senior Notes due 2024, with approximately $233 million outstanding as of March 31, 2021. Expected interest savings from this move is around $14 million annually, improving DFIN's capital structure and providing liquidity.
Donnelley Financial Solutions (DFIN) announced the launch of FERC Pro, a data analytics platform designed for energy companies to comply with new Federal Energy Regulatory Commission (FERC) reporting requirements. Starting December 2021, companies must file reports in an XBRL format. FERC Pro streamlines this process, enabling real-time collaboration and efficient data management. DFIN partnered with HData and IRIS to bring this platform to market, enhancing compliance capabilities for energy-sector clients.
Donnelley Financial Solutions (DFIN) reported strong Q1 2021 financial results, with net sales of $245.3 million, up 11.1% from Q1 2020. Net earnings surged to $35.2 million compared to $4.1 million a year earlier. Adjusted EBITDA increased by 136.2% to $71.1 million, marking a margin of 29.0%. Software solutions sales grew 27.5%, reaching a record $60.3 million, significantly contributing to revenue. The company anticipates print-related revenue declines due to SEC rule changes, estimating a $130 million to $140 million reduction in print sales for 2021.
Donnelley Financial Solutions (DFIN) will host a conference call and webcast on May 5, 2021, at 9:00 a.m. Eastern time to discuss its first-quarter fiscal year 2021 financial results, provide a business update, and answer analyst questions. A live webcast will be available via the company's investor relations website, where a replay and related financial documents will also be posted after the call. The financial report will be released before the market opens on the same day through an SEC filing.
Donnelley Financial Solutions (DFIN) has partnered with FloQast to enhance financial reporting processes for companies preparing for an IPO. This strategic alliance will integrate DFIN's ActiveDisclosure platform with FloQast's accounting automation software, streamlining the record-to-report process and improving accuracy and transparency in financial reporting. The partnership aims to support clients across various sectors, including pharmaceuticals and technology, in North America, Europe, and Asia, ultimately reducing risks and increasing efficiency.
Donnelley Financial Solutions (DFIN) reported Q4 2020 net sales of $210.3 million, a 10.5% increase from Q4 2019, driven by strong IPO activity. However, the company experienced a net loss of ($35.8 million) due to a $40.6 million goodwill impairment charge. Adjusted EBITDA for the quarter rose 33.7% to $34.9 million, with a margin improvement of 290 basis points. DFIN announced a new $50 million stock repurchase program. The company anticipates $130-$140 million reduction in print-related sales in 2021 due to regulatory changes.
Donnelley Financial Solutions (DFIN) announced that its subsidiary, eBrevia, has integrated its AI-contract analytics software with Box, a prominent cloud content management platform. This integration enhances eBrevia's capabilities, allowing clients to access and analyze documents stored in Box seamlessly. With over 100,000 customers, the integration aims to improve efficiency and collaboration for teams, particularly in legal settings. Users can analyze documents, customize data extraction, and generate detailed reports, streamlining contract management workflows.
Donnelley Financial Solutions (DFIN) will host a conference call on February 25, 2021, at 9:00 a.m. Eastern time to discuss its fourth-quarter fiscal year 2020 financial results. The call will provide a general business update and address analyst inquiries. A live webcast will be accessible on the Company’s investor relations website, with a replay available afterward. The financial report will be released before the market opens on the same date via an SEC filing on Form 8-K.
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