Companies: 10,822     total market cap: $147.394 T
โ‚ฌEUR๐Ÿ‡ช๐Ÿ‡บโ‚นINR๐Ÿ‡ฎ๐Ÿ‡ณยฃGBP๐Ÿ‡ฌ๐Ÿ‡ง$CAD๐Ÿ‡จ๐Ÿ‡ฆ$AUD๐Ÿ‡ฆ๐Ÿ‡บ$NZD๐Ÿ‡ณ๐Ÿ‡ฟ$HKD๐Ÿ‡ญ๐Ÿ‡ฐ$SGD๐Ÿ‡ธ๐Ÿ‡ฌ
Broadridge Financial Solutions
BR
#1339
Rank
$17.24 B
Marketcap
๐Ÿ‡บ๐Ÿ‡ธ United States
Country
$149.13
Share price
-0.25%
Change (1 day)
-36.86%
Change (1 year)
๐Ÿ’ผ Professional services๐Ÿ’ณ Financial services
Categories
Broadridge Financial Solutions is an American corporate services company supplying public companies with proxy statements, annual reports and other financial documents, and shareholder communications solutions, such as virtual annual meetings.
  1. Broadridge Financial Solutions
  2. Quarterly Reports (10-Q)
  3. Submitted on 2026-04-30

Broadridge Financial Solutions - 10-Q quarterly report FY


Text size:
false2026Q3--06-300001383312http://fasb.org/us-gaap/2025#OtherLiabilitiesNoncurrent0.66670.3333http://fasb.org/us-gaap/2025#AccountsPayableAndAccruedLiabilitiesCurrenthttp://fasb.org/us-gaap/2025#AccountsPayableAndAccruedLiabilitiesCurrentxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesbr:Segmentbr:marketxbrli:purebr:canton_Coiniso4217:EUR00013833122025-07-012026-03-3100013833122026-04-2700013833122026-01-012026-03-3100013833122025-01-012025-03-3100013833122024-07-012025-03-3100013833122026-03-3100013833122025-06-3000013833122024-06-3000013833122025-03-310001383312us-gaap:CommonStockMember2025-12-310001383312us-gaap:AdditionalPaidInCapitalMember2025-12-310001383312us-gaap:RetainedEarningsMember2025-12-310001383312us-gaap:TreasuryStockCommonMember2025-12-310001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-12-3100013833122025-12-310001383312us-gaap:RetainedEarningsMember2026-01-012026-03-310001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-01-012026-03-310001383312srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2025-12-310001383312us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-310001383312us-gaap:TreasuryStockCommonMember2026-01-012026-03-310001383312us-gaap:CommonStockMember2026-03-310001383312us-gaap:AdditionalPaidInCapitalMember2026-03-310001383312us-gaap:RetainedEarningsMember2026-03-310001383312us-gaap:TreasuryStockCommonMember2026-03-310001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2026-03-310001383312us-gaap:CommonStockMember2025-06-300001383312us-gaap:AdditionalPaidInCapitalMember2025-06-300001383312us-gaap:RetainedEarningsMember2025-06-300001383312us-gaap:TreasuryStockCommonMember2025-06-300001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-06-300001383312us-gaap:RetainedEarningsMember2025-07-012026-03-310001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-07-012026-03-310001383312srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:RetainedEarningsMember2025-06-300001383312srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2025-06-300001383312us-gaap:AdditionalPaidInCapitalMember2025-07-012026-03-310001383312us-gaap:TreasuryStockCommonMember2025-07-012026-03-310001383312us-gaap:CommonStockMember2024-12-310001383312us-gaap:AdditionalPaidInCapitalMember2024-12-310001383312us-gaap:RetainedEarningsMember2024-12-310001383312us-gaap:TreasuryStockCommonMember2024-12-310001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-12-3100013833122024-12-310001383312us-gaap:RetainedEarningsMember2025-01-012025-03-310001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-01-012025-03-310001383312us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-310001383312us-gaap:TreasuryStockCommonMember2025-01-012025-03-310001383312us-gaap:CommonStockMember2025-03-310001383312us-gaap:AdditionalPaidInCapitalMember2025-03-310001383312us-gaap:RetainedEarningsMember2025-03-310001383312us-gaap:TreasuryStockCommonMember2025-03-310001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2025-03-310001383312us-gaap:CommonStockMember2024-06-300001383312us-gaap:AdditionalPaidInCapitalMember2024-06-300001383312us-gaap:RetainedEarningsMember2024-06-300001383312us-gaap:TreasuryStockCommonMember2024-06-300001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001383312us-gaap:RetainedEarningsMember2024-07-012025-03-310001383312us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012025-03-310001383312us-gaap:AdditionalPaidInCapitalMember2024-07-012025-03-310001383312us-gaap:TreasuryStockCommonMember2024-07-012025-03-310001383312br:GlobalTechnologyAndOperationsMember2026-01-012026-03-310001383312br:GlobalTechnologyAndOperationsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueRegulatoryMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:RecurringFeeRevenueRegulatoryMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:RecurringFeeRevenueRegulatoryMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueRegulatoryMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:RecurringFeeRevenueDataDrivenFundSolutionsMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:RecurringFeeRevenueDataDrivenFundSolutionsMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:RecurringFeeRevenueDataDrivenFundSolutionsMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueDataDrivenFundSolutionsMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:RecurringFeeRevenueIssuerMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:RecurringFeeRevenueIssuerMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:RecurringFeeRevenueIssuerMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueIssuerMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:RecurringFeeRevenueCustomerCommunicationsMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:RecurringFeeRevenueCustomerCommunicationsMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:RecurringFeeRevenueCustomerCommunicationsMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueCustomerCommunicationsMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:RecurringFeeRevenueInvestorCommunicationSolutionsMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:RecurringFeeRevenueInvestorCommunicationSolutionsMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:RecurringFeeRevenueInvestorCommunicationSolutionsMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueInvestorCommunicationSolutionsMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:EventDrivenRevenueEquityAndOtherMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:EventDrivenRevenueEquityAndOtherMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:EventDrivenRevenueEquityAndOtherMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:EventDrivenRevenueEquityAndOtherMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:EventDrivenRevenueMutualFundsMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:EventDrivenRevenueMutualFundsMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:EventDrivenRevenueMutualFundsMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:EventDrivenRevenueMutualFundsMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:EventDrivenRevenueInvestorCommunicationSolutionsMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:EventDrivenRevenueInvestorCommunicationSolutionsMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:EventDrivenRevenueInvestorCommunicationSolutionsMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:EventDrivenRevenueInvestorCommunicationSolutionsMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:DistributionRevenueMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:DistributionRevenueMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:DistributionRevenueMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:DistributionRevenueMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312br:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312br:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312br:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312br:RecurringFeeRevenueCapitalMarketsMemberbr:GlobalTechnologyAndOperationsMember2026-01-012026-03-310001383312br:RecurringFeeRevenueCapitalMarketsMemberbr:GlobalTechnologyAndOperationsMember2025-01-012025-03-310001383312br:RecurringFeeRevenueCapitalMarketsMemberbr:GlobalTechnologyAndOperationsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueCapitalMarketsMemberbr:GlobalTechnologyAndOperationsMember2024-07-012025-03-310001383312br:RecurringFeeRevenueWealthAndInvestmentManagementMemberbr:GlobalTechnologyAndOperationsMember2026-01-012026-03-310001383312br:RecurringFeeRevenueWealthAndInvestmentManagementMemberbr:GlobalTechnologyAndOperationsMember2025-01-012025-03-310001383312br:RecurringFeeRevenueWealthAndInvestmentManagementMemberbr:GlobalTechnologyAndOperationsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueWealthAndInvestmentManagementMemberbr:GlobalTechnologyAndOperationsMember2024-07-012025-03-310001383312br:RecurringFeeRevenueGlobalTechnologyAndOperationsMemberbr:GlobalTechnologyAndOperationsMember2026-01-012026-03-310001383312br:RecurringFeeRevenueGlobalTechnologyAndOperationsMemberbr:GlobalTechnologyAndOperationsMember2025-01-012025-03-310001383312br:RecurringFeeRevenueGlobalTechnologyAndOperationsMemberbr:GlobalTechnologyAndOperationsMember2025-07-012026-03-310001383312br:RecurringFeeRevenueGlobalTechnologyAndOperationsMemberbr:GlobalTechnologyAndOperationsMember2024-07-012025-03-310001383312br:RecurringFeeRevenueMember2026-01-012026-03-310001383312br:RecurringFeeRevenueMember2025-01-012025-03-310001383312br:RecurringFeeRevenueMember2025-07-012026-03-310001383312br:RecurringFeeRevenueMember2024-07-012025-03-310001383312br:EventDrivenRevenueMember2026-01-012026-03-310001383312br:EventDrivenRevenueMember2025-01-012025-03-310001383312br:EventDrivenRevenueMember2025-07-012026-03-310001383312br:EventDrivenRevenueMember2024-07-012025-03-310001383312br:DistributionRevenueMember2026-01-012026-03-310001383312br:DistributionRevenueMember2025-01-012025-03-310001383312br:DistributionRevenueMember2025-07-012026-03-310001383312br:DistributionRevenueMember2024-07-012025-03-310001383312br:OptionsAndRestrictedStockUnitsRSUsMember2026-01-012026-03-310001383312br:OptionsAndRestrictedStockUnitsRSUsMember2025-07-012026-03-310001383312br:OptionsAndRestrictedStockUnitsRSUsMember2025-01-012025-03-310001383312br:OptionsAndRestrictedStockUnitsRSUsMember2024-07-012025-03-310001383312br:AcolinGroupHoldcoLimitedMember2026-01-012026-01-310001383312br:AcolinGroupHoldcoLimitedMember2026-01-310001383312br:AcolinGroupHoldcoLimitedMemberus-gaap:CustomerRelationshipsMember2026-01-012026-01-310001383312br:AcolinGroupHoldcoLimitedMemberbr:SoftwareTechnologyMember2026-01-012026-01-310001383312br:LDIMAPLLCMember2025-09-012025-09-300001383312br:LDIMAPLLCMember2025-09-300001383312br:LDIMAPLLCMemberus-gaap:CustomerRelationshipsMember2025-09-012025-09-300001383312br:LDIMAPLLCMemberbr:SoftwareTechnologyMember2025-09-012025-09-300001383312br:SignalAgencyLimitedMember2025-08-012025-08-310001383312br:SISMember2024-11-012024-11-010001383312br:SISMember2024-11-010001383312br:A2024ImmaterialAcquisitionMember2024-07-012024-09-300001383312us-gaap:FairValueInputsLevel1Member2026-03-310001383312us-gaap:FairValueInputsLevel2Member2026-03-310001383312us-gaap:FairValueInputsLevel3Member2026-03-310001383312us-gaap:FairValueInputsLevel1Member2025-06-300001383312us-gaap:FairValueInputsLevel2Member2025-06-300001383312us-gaap:FairValueInputsLevel3Member2025-06-300001383312br:CantonCoinsMember2026-03-310001383312br:TharimmuneIncMember2025-10-012025-12-310001383312br:TharimmuneIncMember2025-12-310001383312br:CantonStrategicHoldingsMember2026-01-012026-03-310001383312br:CantonStrategicHoldingsMember2025-07-012026-03-310001383312br:PreFundedWarrantsMember2026-03-310001383312us-gaap:CurrencySwapMember2026-03-310001383312us-gaap:EmployeeSeveranceMember2026-03-310001383312us-gaap:EmployeeSeveranceMember2025-06-300001383312br:Fiscal2016SeniorNotesMemberbr:SeniorNotesCurrentMaturitiesMember2026-03-310001383312br:Fiscal2016SeniorNotesMemberbr:SeniorNotesCurrentMaturitiesMember2025-06-300001383312br:LongTermDebtCurrentPortionMember2026-03-310001383312br:LongTermDebtCurrentPortionMember2025-06-300001383312br:Fiscal2025RevolvingCreditFacilityU.S.DollarTrancheMemberus-gaap:RevolvingCreditFacilityMember2026-03-310001383312br:Fiscal2025RevolvingCreditFacilityU.S.DollarTrancheMemberus-gaap:RevolvingCreditFacilityMember2025-06-300001383312br:Fiscal2025RevolvingCreditFacilityMulticurrencyTrancheMemberus-gaap:RevolvingCreditFacilityMember2026-03-310001383312br:Fiscal2025RevolvingCreditFacilityMulticurrencyTrancheMemberus-gaap:RevolvingCreditFacilityMember2025-06-300001383312us-gaap:RevolvingCreditFacilityMember2026-03-310001383312us-gaap:RevolvingCreditFacilityMember2025-06-300001383312br:Fiscal2026TermLoanMemberus-gaap:NotesPayableToBanksMember2026-03-310001383312br:Fiscal2026TermLoanMemberus-gaap:NotesPayableToBanksMember2025-06-300001383312br:Fiscal2020SeniorNotesMemberbr:SeniorNotesExcludingCurrentMaturitiesMember2026-03-310001383312br:Fiscal2020SeniorNotesMemberbr:SeniorNotesExcludingCurrentMaturitiesMember2025-06-300001383312br:Fiscal2021SeniorNotesMemberbr:SeniorNotesExcludingCurrentMaturitiesMember2026-03-310001383312br:Fiscal2021SeniorNotesMemberbr:SeniorNotesExcludingCurrentMaturitiesMember2025-06-300001383312br:SeniorNotesExcludingCurrentMaturitiesMember2026-03-310001383312br:SeniorNotesExcludingCurrentMaturitiesMember2025-06-300001383312br:LongTermDebtExcludingCurrentMaturitiesMember2026-03-310001383312br:LongTermDebtExcludingCurrentMaturitiesMember2025-06-300001383312br:Fiscal2025RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2024-12-310001383312br:Fiscal2025RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2024-12-012024-12-310001383312br:Fiscal2021RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-04-300001383312br:Fiscal2021RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2021-04-012021-04-300001383312br:RevolvingCreditFacilitiesMemberus-gaap:RevolvingCreditFacilityMember2026-01-012026-03-310001383312br:RevolvingCreditFacilitiesMemberus-gaap:RevolvingCreditFacilityMember2025-07-012026-03-310001383312br:RevolvingCreditFacilitiesMemberus-gaap:RevolvingCreditFacilityMember2025-01-012025-03-310001383312br:RevolvingCreditFacilitiesMemberus-gaap:RevolvingCreditFacilityMember2024-07-012025-03-310001383312us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberbr:Fiscal2025RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-07-012026-03-310001383312br:SecuredOvernightFinancingRateSOFROvernightIndexSwapRateStepUpsMemberbr:Fiscal2025RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-07-012026-03-310001383312br:SecuredOvernightFinancingRayeSOFROvernightIndexSwapRateStepDownsMemberbr:Fiscal2025RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-07-012026-03-310001383312br:Fiscal2025RevolvingCreditFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-07-012026-03-310001383312br:Fiscal2025RevolvingCreditFacilityMemberus-gaap:SeniorNotesMember2025-07-012026-03-310001383312br:Fiscal2021TermLoansMemberus-gaap:NotesPayableToBanksMember2021-03-310001383312br:Fiscal2021TermLoansTranche1Memberus-gaap:NotesPayableToBanksMember2021-03-310001383312br:Fiscal2021TermLoansTranche2Memberus-gaap:NotesPayableToBanksMember2021-03-310001383312br:Fiscal2021TermLoansMemberus-gaap:NotesPayableToBanksMember2021-03-012021-03-310001383312us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberbr:Fiscal2021TermLoansTranche2Memberus-gaap:NotesPayableToBanksMember2021-03-012021-03-310001383312br:SecuredOvernightFinancingRateSOFROvernightIndexSwapRateStepUpsMemberbr:Fiscal2021TermLoansTranche2Memberus-gaap:NotesPayableToBanksMember2021-03-012021-03-310001383312br:SecuredOvernightFinancingRayeSOFROvernightIndexSwapRateStepDownsMemberbr:Fiscal2021TermLoansTranche2Memberus-gaap:NotesPayableToBanksMember2021-03-012021-03-310001383312br:Fiscal2024AmendedTermLoansMemberus-gaap:NotesPayableToBanksMember2023-08-170001383312us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberbr:Fiscal2024AmendedTermLoansMemberus-gaap:NotesPayableToBanksMember2023-08-172023-08-170001383312br:SecuredOvernightFinancingRateSOFROvernightIndexSwapRateStepUpsMemberbr:Fiscal2024AmendedTermLoansMemberus-gaap:NotesPayableToBanksMember2023-08-172023-08-170001383312br:SecuredOvernightFinancingRayeSOFROvernightIndexSwapRateStepDownsMemberbr:Fiscal2024AmendedTermLoansMembersrt:MaximumMemberus-gaap:NotesPayableToBanksMember2023-08-172023-08-170001383312br:SecuredOvernightFinancingRayeSOFROvernightIndexSwapRateStepDownsMemberbr:Fiscal2024AmendedTermLoansMembersrt:MinimumMemberus-gaap:NotesPayableToBanksMember2023-08-172023-08-170001383312br:Fiscal2026TermLoanMemberus-gaap:NotesPayableToBanksMember2025-08-210001383312us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberbr:Fiscal2026TermLoanMemberus-gaap:NotesPayableToBanksMember2025-08-212025-08-210001383312br:SecuredOvernightFinancingRateSOFROvernightIndexSwapRateStepUpsMemberbr:Fiscal2026TermLoanMembersrt:MinimumMemberus-gaap:NotesPayableToBanksMember2025-08-212025-08-210001383312br:SecuredOvernightFinancingRateSOFROvernightIndexSwapRateStepUpsMemberbr:Fiscal2026TermLoanMembersrt:MaximumMemberus-gaap:NotesPayableToBanksMember2025-08-212025-08-210001383312br:SecuredOvernightFinancingRayeSOFROvernightIndexSwapRateStepDownsMemberbr:Fiscal2026TermLoanMembersrt:MaximumMemberus-gaap:NotesPayableToBanksMember2025-08-212025-08-210001383312br:SecuredOvernightFinancingRayeSOFROvernightIndexSwapRateStepDownsMemberbr:Fiscal2026TermLoanMembersrt:MinimumMemberus-gaap:NotesPayableToBanksMember2025-08-212025-08-210001383312br:Fiscal2016SeniorNotesMemberus-gaap:SeniorNotesMember2016-06-300001383312br:Fiscal2016SeniorNotesMemberus-gaap:SeniorNotesMember2016-06-012016-06-300001383312br:LongTermDebtExcludingCurrentPortionMemberbr:Fiscal2016SeniorNotesMemberbr:SeniorNotesExcludingCurrentMaturitiesMember2026-03-310001383312br:LongTermDebtExcludingCurrentPortionMemberbr:Fiscal2016SeniorNotesMemberus-gaap:SeniorNotesMember2025-06-300001383312br:Fiscal2020SeniorNotesMemberus-gaap:SeniorNotesMember2019-12-310001383312br:Fiscal2020SeniorNotesMemberus-gaap:SeniorNotesMember2019-12-012019-12-310001383312br:Fiscal2020SeniorNotesMemberus-gaap:SeniorNotesMember2025-06-300001383312br:Fiscal2021SeniorNotesMemberus-gaap:SeniorNotesMember2021-05-310001383312br:Fiscal2021SeniorNotesMemberus-gaap:SeniorNotesMember2021-05-012021-05-310001383312br:LongTermDebtExcludingCurrentPortionMemberbr:Fiscal2021SeniorNotesMemberbr:SeniorNotesExcludingCurrentMaturitiesMember2026-03-310001383312br:LongTermDebtExcludingCurrentPortionMemberbr:Fiscal2021SeniorNotesMemberus-gaap:SeniorNotesMember2025-06-300001383312us-gaap:EmployeeStockOptionMember2025-12-310001383312br:TimeBasedRestrictedStockMember2025-12-310001383312br:PerformanceBasedRestrictedStockUnitsMember2025-12-310001383312us-gaap:EmployeeStockOptionMember2026-01-012026-03-310001383312br:TimeBasedRestrictedStockMember2026-01-012026-03-310001383312br:PerformanceBasedRestrictedStockUnitsMember2026-01-012026-03-310001383312us-gaap:EmployeeStockOptionMember2026-03-310001383312br:TimeBasedRestrictedStockMember2026-03-310001383312br:PerformanceBasedRestrictedStockUnitsMember2026-03-310001383312us-gaap:EmployeeStockOptionMember2025-06-300001383312br:TimeBasedRestrictedStockMember2025-06-300001383312br:PerformanceBasedRestrictedStockUnitsMember2025-06-300001383312us-gaap:EmployeeStockOptionMember2025-07-012026-03-310001383312br:TimeBasedRestrictedStockMember2025-07-012026-03-310001383312br:PerformanceBasedRestrictedStockUnitsMember2025-07-012026-03-310001383312us-gaap:SegmentContinuingOperationsMember2026-01-012026-03-310001383312us-gaap:SegmentContinuingOperationsMember2025-01-012025-03-310001383312us-gaap:SegmentContinuingOperationsMember2025-07-012026-03-310001383312us-gaap:SegmentContinuingOperationsMember2024-07-012025-03-310001383312br:InformationTechnologyServicesAgreementMember2025-07-012026-03-310001383312br:SISServicesAgreementMember2025-07-012026-03-310001383312br:IBMPrivateCloudAgreementMember2025-07-012026-03-310001383312br:AWSCloudAgreementMember2025-07-012026-03-310001383312us-gaap:CurrencySwapMember2022-01-310001383312us-gaap:TreasuryLockMember2021-05-012021-05-310001383312us-gaap:TreasuryLockMemberbr:ItivitiMember2021-05-012021-05-310001383312us-gaap:TreasuryLockMember2025-07-012026-03-310001383312us-gaap:AccumulatedTranslationAdjustmentMember2025-12-310001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-12-310001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-12-310001383312us-gaap:AccumulatedTranslationAdjustmentMember2026-01-012026-03-310001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2026-01-012026-03-310001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-01-012026-03-310001383312us-gaap:AccumulatedTranslationAdjustmentMember2026-03-310001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2026-03-310001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2026-03-310001383312us-gaap:AccumulatedTranslationAdjustmentMember2025-06-300001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-06-300001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-06-300001383312us-gaap:AccumulatedTranslationAdjustmentMember2025-07-012026-03-310001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-07-012026-03-310001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-07-012026-03-310001383312us-gaap:AccumulatedTranslationAdjustmentMember2024-12-310001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-12-310001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-12-310001383312us-gaap:AccumulatedTranslationAdjustmentMember2025-01-012025-03-310001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-01-012025-03-310001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-01-012025-03-310001383312us-gaap:AccumulatedTranslationAdjustmentMember2025-03-310001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2025-03-310001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2025-03-310001383312us-gaap:AccumulatedTranslationAdjustmentMember2024-06-300001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-06-300001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-06-300001383312us-gaap:AccumulatedTranslationAdjustmentMember2024-07-012025-03-310001383312us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2024-07-012025-03-310001383312us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2024-07-012025-03-310001383312us-gaap:OperatingSegmentsMemberbr:InvestorCommunicationSolutionsMember2026-01-012026-03-310001383312us-gaap:OperatingSegmentsMemberbr:GlobalTechnologyAndOperationsMember2026-01-012026-03-310001383312us-gaap:OperatingSegmentsMemberbr:ReportableSegmentsMember2026-01-012026-03-310001383312us-gaap:CorporateNonSegmentMember2026-01-012026-03-310001383312us-gaap:OperatingSegmentsMemberbr:InvestorCommunicationSolutionsMember2025-07-012026-03-310001383312us-gaap:OperatingSegmentsMemberbr:GlobalTechnologyAndOperationsMember2025-07-012026-03-310001383312us-gaap:OperatingSegmentsMemberbr:ReportableSegmentsMember2025-07-012026-03-310001383312us-gaap:CorporateNonSegmentMember2025-07-012026-03-310001383312us-gaap:OperatingSegmentsMemberbr:InvestorCommunicationSolutionsMember2025-01-012025-03-310001383312us-gaap:OperatingSegmentsMemberbr:GlobalTechnologyAndOperationsMember2025-01-012025-03-310001383312us-gaap:OperatingSegmentsMemberbr:ReportableSegmentsMember2025-01-012025-03-310001383312us-gaap:CorporateNonSegmentMember2025-01-012025-03-310001383312us-gaap:OperatingSegmentsMemberbr:InvestorCommunicationSolutionsMember2024-07-012025-03-310001383312us-gaap:OperatingSegmentsMemberbr:GlobalTechnologyAndOperationsMember2024-07-012025-03-310001383312us-gaap:OperatingSegmentsMemberbr:ReportableSegmentsMember2024-07-012025-03-310001383312us-gaap:CorporateNonSegmentMember2024-07-012025-03-310001383312br:CQGInc.Memberus-gaap:SubsequentEventMember2026-04-302026-04-30


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2026
OR
☐
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from                       to                     
Commission File Number 001-33220
BROADRIDGE FINANCIAL SOLUTIONS, INC.
(Exact Name of Registrant as Specified in Its Charter)
Delaware33-1151291
(State or Other Jurisdiction of Incorporation or Organization)(I.R.S. Employer Identification No.)
5 Dakota Drive11042
Lake Success
New York
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (516) 472-5400
Former name, former address and former fiscal year, if changed since last report: N/A
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class:Trading SymbolName of Each Exchange on Which Registered:
Common Stock, par value $0.01 per shareBRNew York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No   ¨
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No   ¨
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated FilerxAccelerated filer¨
Non-accelerated filer ¨Smaller reporting company☐
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ☐    No  x

The number of shares outstanding of the registrant’s common stock, $0.01 par value, as of April 27, 2026, was 115,658,297 shares.
Table of Contents
TABLE OF CONTENTS
ITEM PAGE
3
PART I.
4
Item 1.
4
Item 2.
34
Item 3.
57
Item 4.
57
PART II.
58
Item 1.
58
Item 1A.
58
Item 2.
58
Item 5.
59
Item 6.
59

2
Table of Contents
NOTE ABOUT FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q of Broadridge Financial Solutions, Inc. (“Broadridge” or the “Company”) may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words such as “expects,” “assumes,” “projects,” “anticipates,” “estimates,” “we believe,” “could be,” “on track,” and other words of similar meaning, are forward-looking statements. In particular, information appearing under “Business,” “Risk Factors,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” includes forward-looking statements. These statements are based on management’s expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include:
•changes in laws and regulations affecting Broadridge’s clients or the services provided by Broadridge;
•Broadridge’s reliance on a relatively small number of clients, the continued financial health of those clients, and the continued use by such clients of Broadridge’s services with favorable pricing terms;
•a material security breach or cybersecurity attack affecting the information of Broadridge’s clients;
•declines in participation and activity in the securities markets;
•the failure of Broadridge's key service providers to provide the anticipated levels of service;
•a disaster or other significant slowdown or failure of Broadridge’s systems or error in the performance of Broadridge’s services;
•overall market, economic and geopolitical conditions and their impact on the securities markets;
•the success of Broadridge in retaining and selling additional services to its existing clients and in obtaining new clients;
•Broadridge’s failure to keep pace with changes in technology and demands of its clients;
•competitive conditions;
•Broadridge’s ability to attract and retain key personnel; and
•the impact of new acquisitions and divestitures.
There may be other factors that may cause our actual results to differ materially from the forward-looking statements. Our actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking statements. We can give no assurances that any of the events anticipated by the forward-looking statements will occur or, if any of them do, what impact they will have on our results of operations and financial condition. You should carefully read the factors described in the “Risk Factors” section of this Quarterly Report on Form 10-Q and our Annual Report on Form 10-K for the fiscal year ended June 30, 2025 which was filed with the United States of America (“U.S.”) Securities and Exchange Commission (the “SEC”) on August 5, 2025 (the “2025 Annual Report”), for a description of certain risks that could, among other things, cause our actual results to differ from these forward-looking statements.
All forward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q and are expressly qualified in their entirety by the cautionary statements included in this Quarterly Report on Form 10-Q and the 2025 Annual Report. We disclaim any obligation to update or revise forward-looking statements that may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, other than as required by law.
3
Table of Contents
PART I. FINANCIAL INFORMATION
Item 1.    FINANCIAL STATEMENTS
Broadridge Financial Solutions, Inc.
Condensed Consolidated Statements of Earnings
(In millions, except per share amounts)
(Unaudited)
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
Revenues(Note 3)$1,953.6 $1,811.7 $5,256.9 $4,823.7 
Operating expenses:
      Cost of revenues1,326.7 1,235.9 3,733.8 3,456.7 
      Selling, general and administrative expenses267.4 230.9 768.8 677.1 
         Total operating expenses1,594.1 1,466.8 4,502.6 4,133.8 
Operating income359.5 344.9 754.3 689.9 
Interest expense, net(Note 5)(25.1)(31.1)(73.1)(96.1)
Other non-operating income (expenses), net6.2 (2.8)242.7 (6.6)
Earnings before income taxes340.6 310.9 923.9 587.2 
Provision for income taxes(Note 14)64.3 67.8 197.7 121.9 
Net earnings$276.3 $243.1 $726.2 $465.3 
Basic earnings per share$2.38 $2.07 $6.22 $3.97 
Diluted earnings per share$2.36 $2.05 $6.18 $3.93 
Weighted-average shares outstanding:
      Basic(Note 4)116.3 117.2 116.7 117.1 
      Diluted(Note 4)117.0 118.5 117.6 118.3 

Amounts may not sum due to rounding.


















See Notes to Condensed Consolidated Financial Statements.
4
Table of Contents
Broadridge Financial Solutions, Inc.
Condensed Consolidated Statements of Comprehensive Income
(In millions)
(Unaudited)
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
Net earnings$276.3 $243.1 $726.2 $465.3 
Other comprehensive income (loss), net:
Foreign currency translation adjustments(46.1)(26.7)27.3 (46.7)
Pension and post-retirement liability adjustment, net of taxes of $(0.0) and $(0.0) for the three months ended March 31, 2026 and 2025, respectively and $(0.1) and $(0.1) for the nine months ended March 31, 2026 and 2025, respectively
0.1 0.1 0.2 0.3 
Cash flow hedge amortization, net of taxes of $(0.1) and $(0.1) for the three months ended March 31, 2026 and 2025, respectively and $(0.2) and $(0.2) for the nine months ended March 31, 2026 and 2025, respectively
0.2 0.2 0.6 0.6 
Total other comprehensive income (loss), net(45.8)(26.4)28.1 (45.8)
Comprehensive income$230.5 $216.6 $754.4 $419.5 

Amounts may not sum due to rounding.
See Notes to Condensed Consolidated Financial Statements.
5
Table of Contents
Broadridge Financial Solutions, Inc.
Condensed Consolidated Balance Sheets
(In millions, except per share amounts)
(Unaudited)
March 31,
2026		June 30,
2025
Assets
Current assets:
       Cash and cash equivalents$304.8 $561.5 
Accounts receivable, net of allowance for doubtful accounts of $14.8 and $12.5, respectively
1,319.3 1,077.1 
       Other current assets173.5 178.5 
              Total current assets1,797.7 1,817.1 
Property, plant and equipment, net160.1 170.1 
Goodwill3,735.2 3,609.6 
Intangible assets, net1,159.0 1,277.4 
Deferred client conversion and start-up costs(Note 8)822.2 842.9 
Other non-current assets(Note 9)1,105.0 827.9 
                        Total assets$8,779.2 $8,545.0 
Liabilities and Stockholders’ Equity
Current liabilities:
       Current portion of long-term debt(Note 11)$499.8 $499.3 
       Payables and accrued expenses(Note 10)1,143.4 1,112.8 
       Contract liabilities263.4 249.1 
              Total current liabilities1,906.6 1,861.2 
Long-term debt(Note 11)2,727.2 2,753.0 
Deferred taxes350.7 261.0 
Contract liabilities333.5 429.2 
Other non-current liabilities(Note 12)642.4 585.5 
                        Total liabilities5,960.4 5,889.9 
Commitments and contingencies (Note 15)
Stockholders’ equity:
       Preferred stock: Authorized, 25.0 shares; issued and outstanding, none
— — 
Common stock, $0.01 par value: 650.0 shares authorized; 154.5 and 154.5 shares issued, respectively; and 115.7 and 117.1 shares outstanding, respectively
1.6 1.6 
       Additional paid-in capital1,744.5 1,663.0 
       Retained earnings4,266.7 3,862.5 
       Treasury stock, at cost: 38.8 and 37.3 shares, respectively
(2,949.2)(2,599.0)
       Accumulated other comprehensive income (loss)(Note 16)(244.8)(272.9)
              Total stockholders’ equity2,818.8 2,655.1 
                         Total liabilities and stockholders’ equity$8,779.2 $8,545.0 

Amounts may not sum due to rounding.
See Notes to Condensed Consolidated Financial Statements.
6
Table of Contents
Broadridge Financial Solutions, Inc.
Condensed Consolidated Statements of Cash Flows
(In millions)
(Unaudited)
Nine Months Ended 
 March 31,
20262025
Cash Flows From Operating Activities
Net earnings$726.2 $465.3 
Adjustments to reconcile net earnings to net cash flows from operating activities:
               Depreciation and amortization101.6 97.6 
               Amortization of acquired intangibles and purchased intellectual property155.2 146.6 
               Amortization of other assets126.2 128.0 
               Write-down of long-lived asset and related charges3.8 3.3 
               Stock-based compensation expense66.7 57.4 
               Deferred income taxes65.1 (37.5)
               Digital assets change in fair market value(235.0)— 
               Other(29.4)(12.0)
Changes in operating assets and liabilities, net of assets and liabilities acquired:
               Accounts receivable, net(215.7)(89.5)
               Other current assets(0.6)7.2 
               Payables and accrued expenses(22.4)(220.5)
               Contract liabilities62.2 39.8 
               Other non-current assets(120.8)(108.5)
               Other non-current liabilities(15.1)(5.5)
Net cash flows from operating activities668.2 471.6 
Cash Flows From Investing Activities
Capital expenditures(35.1)(28.2)
Software purchases and capitalized internal use software(42.1)(50.3)
Acquisitions, net of cash acquired(121.0)(193.5)
Other investing activities(27.1)(4.2)
Net cash flows from investing activities(225.4)(276.1)
Cash Flows From Financing Activities
Debt proceeds988.5 920.3 
Debt repayments(1,016.8)(837.3)
Dividends paid(330.7)(299.2)
Purchases of Treasury stock(352.9)(4.2)
Proceeds from exercise of stock options21.7 51.6 
Other financing activities(7.8)(8.7)
Net cash flows from financing activities
(697.9)(177.5)
Effect of exchange rate changes on Cash and cash equivalents(1.7)(5.2)
Net change in Cash and cash equivalents(256.7)12.8 
Cash and cash equivalents, beginning of period561.5 304.4 
Cash and cash equivalents, end of period$304.8 $317.2 
Supplemental disclosure of cash flow information:
                           Cash payments made for interest$66.4 $90.8 
                           Cash payments made for income taxes, net of refunds$153.5 $212.1 
Non-cash investing and financing activities:
                                Accrual of unpaid property, plant and equipment and software$0.4 $7.4 
                                Accrual of unpaid stock repurchase excise tax $2.9 $— 
             Amounts may not sum due to rounding.
See Notes to Condensed Consolidated Financial Statements.
7
Table of Contents
Broadridge Financial Solutions, Inc.
Condensed Consolidated Statements of Stockholders’ Equity
(In millions, except per share amounts)
(Unaudited)
Three Months Ended March 31, 2026
 
 
Common Stock
Additional
Paid-In
Capital		Retained
Earnings		Treasury
Stock		Accumulated
Other
Comprehensive
Income
(Loss)		Total
Stockholders’
Equity
 SharesAmount
Balances, December 31, 2025154.5 $1.6 $1,721.2 $4,103.3 $(2,747.8)$(198.9)$2,879.2 
Comprehensive income (loss)— — — 276.3 — (45.8)230.5 
Cumulative effect of change in accounting principle (a)— — — — — — — 
Stock option exercises— — 3.5 — — — 3.5 
Stock-based compensation— — 20.7 — — — 20.7 
Treasury stock acquired (1.1 shares)
— — — — (202.3)— (202.3)
Treasury stock reissued (less than 0.1 shares)
— — (0.9)— 0.9 — — 
Common stock dividends ($0.975 per share)
— — — (112.8)— — (112.8)
Balances, March 31, 2026154.5 $1.6 $1,744.5 $4,266.7 $(2,949.2)$(244.8)$2,818.8 

Nine Months Ended March 31, 2026
 
 
Common Stock
Additional
Paid-In
Capital		Retained
Earnings		Treasury
Stock		Accumulated
Other
Comprehensive
Income
(Loss)		Total
Stockholders’
Equity
 SharesAmount
Balances, June 30, 2025154.5 $1.6 $1,663.0 $3,862.5 $(2,599.0)$(272.9)$2,655.1 
Comprehensive income (loss)— — — 726.2 — 28.1 754.4 
Cumulative effect of change in accounting principle (a)— — — 18.4 — — 18.4 
Stock option exercises— — 21.2 — — — 21.2 
Stock-based compensation— — 66.0 — — — 66.0 
Treasury stock acquired (1.7 shares)
— — — — (355.8)— (355.8)
Treasury stock reissued (0.2 shares)
— — (5.6)— 5.6 — — 
Common stock dividends ($2.925 per share)
— — — (340.4)— — (340.4)
Balances, March 31, 2026154.5 $1.6 $1,744.5 $4,266.7 $(2,949.2)$(244.8)$2,818.8 
(a) Reflects the adoption of accounting standard (ASU 2023-08) as described in Note 2, “New Accounting Pronouncements.”

Amounts may not sum due to rounding.
See Notes to Condensed Consolidated Financial Statements.
8
Table of Contents
Three Months Ended March 31, 2025
 
 
Common Stock
Additional
Paid-In
Capital		Retained
Earnings		Treasury
Stock		Accumulated
Other
Comprehensive
Income
(Loss)		Total
Stockholders’
Equity
 SharesAmount
Balances, December 31, 2024154.5 $1.6 $1,609.4 $3,451.4 $(2,483.0)$(351.1)$2,228.3 
Comprehensive income (loss)— — — 243.1 — (26.4)216.6 
Stock option exercises— — 20.9 — — — 20.9 
Stock-based compensation— — 19.8 — — — 19.8 
Treasury stock acquired (less than 0.1 shares)
— — — — (0.3)— (0.3)
Treasury stock reissued (0.2 shares)
— — (5.1)— 5.1 — — 
Common stock dividends ($0.88 per share)
— — — (103.2)— — (103.2)
Balances, March 31, 2025154.5 $1.6 $1,645.1 $3,591.4 $(2,478.2)$(377.5)$2,382.3 

Nine Months Ended March 31, 2025
 
 
Common Stock
Additional
Paid-In
Capital		Retained
Earnings		Treasury
Stock		Accumulated
Other
Comprehensive
Income
(Loss)		Total
Stockholders’
Equity
 SharesAmount
Balances, June 30, 2024154.5 $1.6 $1,552.5 $3,435.1 $(2,489.2)$(331.7)$2,168.2 
Comprehensive income (loss)— — — 465.3 — (45.8)419.5 
Stock option exercises— — 50.2 — — — 50.2 
Stock-based compensation— — 54.9 — — — 54.9 
Treasury stock acquired (less than 0.1 shares)
— — — — (1.5)— (1.5)
Treasury stock reissued (0.5 shares)
— — (12.5)— 12.5 — — 
Common stock dividends ($2.64 per share)
— — — (309.0)— — (309.0)
Balances, March 31, 2025154.5 $1.6 $1,645.1 $3,591.4 $(2,478.2)$(377.5)$2,382.3 
Amounts may not sum due to rounding.
See Notes to Condensed Consolidated Financial Statements.
9
Table of Contents
Broadridge Financial Solutions, Inc.
Notes to Condensed Consolidated Financial Statements
(Unaudited)
NOTE 1. BASIS OF PRESENTATION
A. Description of Business. Broadridge Financial Solutions, Inc. (“Broadridge” or the “Company”), a Delaware corporation, is a global financial technology leader powering investing, corporate governance, and communications to enable our clients to operate, innovate, and grow. We deliver technology-driven solutions to banks, broker-dealers, asset and wealth managers, public companies, investors, and mutual funds. The principal markets in which the Company operates are located in North America and Europe.
The Company operates in two reportable segments: Investor Communication Solutions (“ICS”) and Global Technology and Operations (“GTO”).
•Investor Communication Solutions—Broadridge provides the following governance and communications solutions through its Investor Communication Solutions business segment: Regulatory Solutions, Data-Driven Fund Solutions, Corporate Issuer Solutions, and Customer Communications Solutions.
A large portion of Broadridge’s ICS business involves the processing and distribution of proxy materials to investors in equity securities and mutual funds, as well as the facilitation of related vote processing. In addition to proxy services, Broadridge also provides regulatory communications solutions that enable global asset managers to communicate with large audiences of investors efficiently and reliably by centralizing all investor communications through one resource. Through its Fund Communication Solutions business, Broadridge provides fund managers with a single, integrated provider to manage data, perform calculations, compose documents, manage regulatory compliance, and disseminate information across multiple jurisdictions. Broadridge also provides a range of other regulatory communications solutions, including reorganization communications notifying investors of U.S. reorganizations or corporate action events such as tender offers, mergers and acquisitions, bankruptcies, and global class action services for the identification, filing and recovery of class actions and collective redress proceedings involving securities and other financial products.
For asset managers and retirement service providers, Broadridge offers data-driven solutions and an end-to-end platform for content management, composition, and omni-channel distribution of regulatory, marketing, and transactional information. Broadridge’s data and analytics solutions provide investment product distribution data, analytical tools, insights, and research to enable asset managers to optimize product distribution across retail and institutional channels globally. Broadridge also provides fiduciary-focused learning and development, software and technology, and data and analytics services to advisors, institutions and asset managers across the retirement and wealth ecosystem. Through its Retirement and Workplace business (“Broadridge Retirement and Workplace”), Broadridge provides automated mutual fund and exchange-traded funds trade processing services for financial institutions who submit trades on behalf of their clients such as qualified and non-qualified retirement plans and individual wealth accounts. In addition, Broadridge’s marketing and transactional communications solutions provide a content management and omni-channel distribution platform for marketing and sales communications for asset managers, insurance providers and retirement service providers.
Broadridge also provides a range of corporate solutions that revolve around shareholder meetings and proxy, corporate governance and sustainability, regulatory filings and disclosure, and stock transfer services. Broadridge services provide corporate issuers a single source solution that spans the entire corporate disclosure and shareholder communications and corporate disclosure lifecycle. Broadridge shareholder meetings and proxy services and corporate governance and sustainability governance and communications services include a full suite of annual meeting and shareholder engagement solutions which include proxy services, virtual shareholder meeting services, shareholder engagement, and governance and sustainability services. Broadridge also offers regulatory filings and disclosure solutions, including annual SEC filing services and capital markets transaction services, and provides registrar, stock transfer and record-keeping services through its transfer agency services.
Broadridge provides omni-channel customer communications solutions, which include print and digital solutions to modernize technology infrastructures, simplify communications processes, accelerate digital adoption and improve the customer experience. Through one point of integration, the Broadridge Communications CloudSM platform helps companies create, deliver, and manage their communications and customer engagement. The platform includes data-driven composition tools, identity and preference management, omni-channel optimization and digital communication experience, archive and information management, digital and print delivery, and analytics and reporting tools.
10
Table of Contents
•Global Technology and Operations — Broadridge’s Global Technology and Operations business provides mission-critical, scale infrastructure to the global financial markets. As a leading software as a service (“SaaS”) provider, Broadridge offers capital markets, wealth and investment management firms modern technology to enable growth, simplify their technology stacks and mutualize costs. Broadridge’s highly scalable, resilient, component-based platform automate the front-to-back transaction lifecycle of equity, mutual fund, fixed income, foreign exchange and exchange-traded derivatives, from order capture and execution through trade confirmation, margin, cash management, clearing and settlement, reference data management, reconciliations, securities financing and collateral management, asset servicing, compliance and regulatory reporting, portfolio accounting and custody-related services. Broadridge’s Wealth Management business provides solutions for advisors and investors and also streamlines back and middle-office operations for broker-dealers by providing systems for critical post-trade activities, including books and records, transaction processing, clearance and settlement, and reporting. Broadridge’s Investment Management business provides portfolio and order management solutions for traditional and alternative asset managers, which bring insights into trading, portfolio construction, risk and analytics. Broadridge’s solutions connect asset managers to a global network of broker-dealers for trade execution and post-trade matching and confirmation. In addition, Broadridge provides business process outsourcing services for its buy and sell-side clients’ businesses. These services combine Broadridge’s technology with its operations expertise to support the entire trade lifecycle, including securities clearing and settlement, reconciliations, record-keeping, wealth management asset servicing, and custody-related functions.
Broadridge’s capital markets platform and solutions deliver simplification and innovation across the trade lifecycle, from order initiation to settlement. Through Broadridge Trading and Connectivity Solutions, Broadridge offers a set of global front-office trade order and execution management systems and connectivity solutions that enable market participants to connect and trade. Broadridge’s front-office solutions, post-trade product suite and other capital markets capabilities enable its clients to streamline their front-to-back technology platforms and operations and increase straight-through-processing efficiencies, across equities, fixed income, exchange-traded derivatives, and other asset classes. Broadridge also provides a set of multi-asset, multi-entity and multi-currency trading, connectivity and post-trade solutions that support processing of securities transactions in equities, options, fixed income securities, foreign exchange, exchange-traded derivatives and mutual funds. Largely provided on a SaaS basis within large user communities, Broadridge’s technology is a global solution, processing trades, clearance and settlement in over 90 markets. Broadridge’s technology enables its clients to meet the requirements of market change such as the T+1 securities settlement cycle and Broadridge’s solutions enable global capital markets firms to access market liquidity, drive more effective market making and efficient front-to-back trade processing.
Broadridge’s Wealth Management business delivers front-to-back technology solutions and other capabilities across the entire wealth management lifecycle and streamlines all aspects of wealth management services, including account management, fee management and client on-boarding. The wealth technology solutions enable full-service, regional and independent broker-dealers and investment advisors to better engage with customers through digital marketing and customer communications tools. Broadridge also integrates data, content and technology to drive new customer acquisition, support holistic and personalized advice and cross-sell opportunities. Broadridge’s advisor solutions help advisors optimize their practice management through customer and account data aggregation and reporting.
Broadridge’s Investment Management business services the global investment management industry with a range of buy-side technology solutions such as portfolio management, compliance and fee billing and operational support solutions for hedge funds, family offices, alternative asset managers, traditional asset managers and the providers that service this space including prime brokers, fund administrators and custodians.
B. Consolidation and Basis of Presentation. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the U.S. and in accordance with SEC requirements for Quarterly Reports on Form 10-Q. These financial statements present the condensed consolidated position of the Company and include the entities in which the Company directly or indirectly has a controlling financial interest, entities in which the Company has investments recorded under the equity method of accounting as well as certain marketable and non-marketable securities. Intercompany balances and transactions have been eliminated. Amounts presented may not sum due to rounding. The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. These Condensed Consolidated Financial Statements should be read in conjunction with the Company’s Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025 filed with the SEC on August 5 2025. These Condensed Consolidated Financial Statements include all normal and recurring adjustments necessary for a fair presentation in accordance with GAAP of the Company’s financial position on March 31, 2026 and June 30, 2025, the results of its operations for the three and nine months ended March 31, 2026 and 2025, its cash flows for the nine months ended March 31, 2026 and 2025, and its changes in stockholders’ equity for the three and nine months ended March 31, 2026 and 2025.
11
Table of Contents
C. Securities. Securities are non-derivatives that are reflected in Other non-current assets in the Condensed Consolidated Balance Sheets, unless management intends to dispose of the investment within twelve months of the end of the reporting period, in which case they are reflected in Other current assets in the Condensed Consolidated Balance Sheets. These investments are in entities over which the Company does not have control, joint control, or significant influence. Securities that have a readily determinable fair value are carried at fair value. Securities without a readily determinable fair value are initially recognized at cost and subsequently carried at cost minus impairment, if any, plus or minus changes resulting from observable price changes in transactions for an identical or similar investment of the same issuer, such as subsequent capital raising transactions. Changes in the value of securities with or without a readily determinable fair value are recorded in the Condensed Consolidated Statements of Earnings. In determining whether a security without a readily determinable fair value is impaired, management considers qualitative factors to identify an impairment including the financial condition and near-term prospects of the issuer.
D. Digital Assets. As part of its investment in its Distributed Ledger Repo solution, the Company has engaged with the Canton Network’s decentralized interoperability structure. Beginning in the fourth quarter of fiscal year 2024, the Company performs services as a Super Validator and Validator on the Global Synchronizer, the Canton Network’s decentralized interoperability infrastructure. The Canton Network is a public-permissioned blockchain network designed with privacy and controls to facilitate the exchange of regulated financial assets. The Canton Network’s Global Synchronizer includes a utility token, a digital asset called the Canton Coin, which is used to pay traffic fees for using the Global Synchronizer. The Company earns Canton Coins for its function as a Super Validator and Validator on the Canton Network.
As discussed in Note 2, “New Accounting Pronouncements”, the Company adopted ASU No. 2023-08, “Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets” during the first quarter of fiscal year 2026, which requires entities to measure crypto assets that meet specific criteria at fair value. Prior to the adoption of ASU No. 2023-08 in the first quarter of fiscal year 2026, the Company held the Canton Coins on its Balance Sheet at their cost basis, which was immaterial, for investment purposes and to pay any fees associated with its Canton Network activity. During the first quarter of 2026, the Company began converting the coins to cash nearly immediately after they were earned and continued to do so periodically throughout the second fiscal quarter of 2026.
The cost basis of the Canton Coins received is initially recorded at fair value on the date of receipt as a component of Other non-current assets on the Condensed Consolidated Balance Sheets and Revenue on the Statements of Earnings within the Company’s GTO reportable segment. Beginning in the first quarter of fiscal year 2026, in accordance with ASU No. 2023-08, the Canton Coins are then remeasured to fair market value at the end of each reporting period, through an adjustment to unrealized gain/(loss), included as a component of Other non-operating income (expenses), net on the Consolidated Statements of Earnings within Corporate and Other. The Company employs the specific identification method to determine the cost basis of the Canton Coins sold for the computation of gains and losses on their disposal or sale. Realized gains (losses) on sale of Canton Coins, if applicable, are included as a component of Other non-operating income (expenses), net in the Consolidated Statements of Earnings within Corporate and Other. Refer to Note 7, “Fair Value of Financial Instruments” for details regarding the Company’s digital asset holdings.
In March 2026, the Canton Network approved a framework under which Super Validators may voluntarily lock a specified percentage of their aggregate lifetime earned Canton Coins to maintain the level at which the Company earns Canton Coins (“Super Validator Weight”). The amount of Super Validator Weight assigned to a participant is based on the percentage of lifetime Canton Coins that remain actively locked. The framework applies to both historical and future earned Canton Coins, and the required lock thresholds decline over time. Super Validators can unlock tokens at any time. Once unlocked, tokens are released gradually over a year. The Company has elected to lock 70% of the lifetime and future earned Canton Coins, which allows it to retain its current Super Validator Weight. The final Locking Commitment election is scheduled to impact the receipt of future Super Validator Canton Coins earned beginning in May 2026.
E. Use of Estimates. The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes thereto. These estimates are based on management’s best knowledge of current events, historical experience, actions that the Company may undertake in the future and on various other assumptions and judgment that are believed to be reasonable under the circumstances. Accordingly, actual results could differ from those estimates. The use of estimates in specific accounting policies is described further in the notes to the Condensed Consolidated Financial Statements, as appropriate.
12
Table of Contents
NOTE 2. NEW ACCOUNTING PRONOUNCEMENTS    
Recently Issued Accounting Pronouncements
In December 2023, the FASB issued ASU No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU No. 2023-09”), which requires an entity to annually disclose specific categories in the effective tax rate reconciliation, additional information for reconciling items that meet a quantitative threshold, and certain information about income taxes paid. ASU No. 2023-09 is effective for the Company for annual periods beginning with our fiscal year ending June 30, 2026. This ASU will result in additional disclosures with no impact to the Company's Consolidated Balance Sheets or Consolidated Statements of Earnings, Comprehensive Income, Equity, or Cash Flows.
In November 2024, the FASB issued ASU No. 2024-03, “Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”, which requires an entity to disclose additional information about specific expense categories. ASU No. 2024-03 is effective for the Company in the fourth quarter of fiscal year 2028. The amendments in this ASU must be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to any or all prior periods presented in the financial statements. Early adoption of the amendments is permitted. Upon adoption, this guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements.
In September 2025, the FASB issued ASU No. 2025-06, “Intangibles - Goodwill and Other - Internal-Use Software” (“ASU No. 2025-06”), which removes all references to sequential software development project stages and establishes new capitalization criteria. In order for capitalization to begin under the new guidance, management must authorize and commit to funding a project and meet a probable-to-complete recognition threshold. In evaluating whether the probable-to-complete recognition threshold has been met, management is required to consider whether there is a significant development uncertainty associated with the software project. The amendments in this ASU may be applied using (1) a prospective transition approach applying the guidance to new software costs incurred as of the beginning of the period of adoption for all projects, including in-process projects, (2) a retrospective transition approach by recasting comparative periods and recognizing a cumulative-effect adjustment to the opening balance of retained earnings, or (3) a modified transition approach applying the amendments on a prospective basis to new software costs incurred except for in-process projects that, as of the date of adoption the entity determines do not meet the capitalization requirements under the new guidance. ASU No. 2025-06 is effective for the Company in the first quarter of fiscal year 2029. Early adoption is permitted. The Company is currently assessing the impact that the adoption of ASU 2025-06 will have on the Company’s Consolidated Financial Statements.
In September 2025, the FASB issued ASU No. 2025-07, “Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606)”, which refines the scope of Topic 815 to clarify which contracts are subject to derivative accounting. The guidance also provides clarification under Topic 606 for share-based payments from a customer in a revenue contract. ASU No. 2025-07 is effective for the Company in the first quarter of fiscal year 2027. The amendments in this ASU must be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) modified retrospectively to any or all prior periods presented in the financial statements. Early adoption of the amendments is permitted. The Company is currently assessing the impact that the adoption of ASU No. 2025-07 will have on the Company’s Consolidated Financial Statements.
In December 2025, the FASB issued ASU 2025-11, “Interim Reporting (Topic 270): Narrow-Scope Improvements”, which clarifies the applicability of the interim reporting guidance, the types of interim reporting, and the form and content of interim financial statements in accordance with U.S. generally accepted accounting principles. Per the FASB, the amendment does not intend to change the fundamental nature of interim reporting or expand or reduce current interim disclosure requirements but rather provide clarity and improve navigability of the existing interim reporting requirements. ASU No. 2025-11 is effective for the Company in the first quarter of fiscal year 2029. The amendments in this ASU must be applied either (1) prospectively to financial statements issued for reporting periods after the effective date of this ASU or (2) retrospectively to any or all prior periods presented in the financial statements. Early adoption of the amendments is permitted. The adoption of ASU 2025-11 is not expected to have a material impact on the Company’s Consolidated Financial Statements.
Recently Adopted Accounting Pronouncements
In December 2023, the FASB issued ASU No. 2023-08, “Intangibles-Goodwill and Other-Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets” (“ASU 2023-08”), which addresses the accounting and disclosure requirements for certain crypto assets. ASU No. 2023-08 requires entities to measure crypto assets that meet specific criteria at fair value, with changes recognized in net income each reporting period. The Company adopted ASU No. 2023-08 during the first quarter of fiscal year 2026, which resulted in a cumulative-effect increase in the opening balance of retained earnings of $24.5 million, or 18.4 million net of tax. Refer to Note 1, “Basis of Presentation” for details regarding the Company’s digital asset holdings.
13
Table of Contents
In March 2024, the FASB issued ASU No. 2024-01, “Compensation—Stock Compensation - Scope Application of Profits Interest and Similar Awards” (“ASU No. 2024-01”), which provides illustrative guidance to help entities determine whether profits interest and similar awards should be accounted for as share-based payment arrangements within the scope of Topic 718 or another accounting standard. The Company adopted ASU No. 2024-01 during the first quarter of fiscal year 2026. This guidance did not have a material impact on the Company’s Consolidated Financial Statements.
In July 2025, the FASB issued ASU No. 2025-05, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets”, which permits entities to elect a practical expedient to assume current conditions as of the balance sheet date will not change for the remaining life of accounts receivable and contract assets when developing forecasts as part of estimating expected credit losses. ASU No. 2025-05 is effective for the Company in the first quarter of fiscal year 2027. The amendments should be applied prospectively. Early adoption of the amendments is permitted. The Company’s early adoption of ASU 2025-05 in the third quarter of fiscal year 2026 and use of the practical expedient did not have a material impact on its consolidated financial statements.
NOTE 3. REVENUE RECOGNITION
ASC 606 “Revenue from Contracts with Customers” outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. The core principle is that an entity recognizes revenue to reflect the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.
The Company’s revenues from clients are primarily generated from fees for providing investor communications and technology-enabled services and solutions. Revenues are recognized for the two reportable segments as follows:
•Investor Communication Solutions—Revenues are generated primarily from processing and distributing investor communications and other related services as well as vote processing and tabulation. The Company typically enters into agreements with clients to provide services on a fee for service basis. Fees received for processing and distributing investor communications are generally variably priced and recognized as revenue over time as the Company provides the services to clients based on the number of units processed, which coincides with the pattern of value transfer to the client. Broadridge works directly with corporate issuers (“Issuers”) and mutual funds to ensure that the account holders of the Company’s bank and broker clients, who are also the shareholders of Issuers and mutual funds, receive the appropriate investor communications materials and the services are fulfilled in accordance with each Issuer’s and mutual fund’s requirements. Broadridge works directly with the Issuers and mutual funds to resolve any issues that may arise. As such, Issuers and mutual funds are viewed as the customer of the Company’s services. As a result, revenues for distribution services as well as proxy materials fulfillment services are recorded in Revenue on a gross basis with corresponding costs including amounts remitted to the broker-dealers and banks (referred to as “Nominees”) recorded in Cost of revenues. Fees for the Company’s investor communications services arrangements are typically billed and paid on a monthly basis following the delivery of the services. The Company also offers certain hosted service arrangements that can be priced on a fixed and/or variable basis for which revenue is recognized over time as the Company satisfies its performance obligation by delivering services to the client on a monthly basis based on the number of transactions processed or units delivered, in the case of variable priced arrangements, or a fixed monthly fee in the case of fixed price arrangements, in each case which coincides with the pattern of value transfer to the client. These services may be billed in a variety of payment frequencies depending on the specific arrangement.
14
Table of Contents
•Global Technology and Operations—Revenues are generated primarily from fees for trade processing and related services. Revenue is recognized over time as the Company satisfies its performance obligation by delivering services to the client. The Company’s arrangements for processing and related services typically consist of an obligation to provide specific services to its clients on a when and if needed basis (a stand ready obligation) with revenue recognized from the satisfaction of the performance obligations on a monthly basis generally in the amount billable to the client. These services are generally provided under variable priced arrangements based on volume of service and can include minimum monthly usage fees. Client service agreements often include up-front consideration in addition to the recurring fee for trade processing. Up-front implementation fees, as well as certain enhancements to existing technology platforms, are deferred and recognized on a straight-line basis over the service term of the contract which corresponds to the timing of transfer of value to the client that commences after client acceptance when the processing term begins. In addition, revenue is also generated from the fulfillment of professional services engagements which are generally priced on a time and materials or fixed price basis, and are recognized as the services are provided to the client which corresponds to the timing of transfer of value to the client. The Company generally recognizes license revenues from software term licenses installed on clients’ premises upon delivery and acceptance of the software license, assuming a contract is deemed to exist, and recognizes revenue attributed to the associated software maintenance and support obligation over the contract term. Software term license revenue is not a significant portion of the Company’s revenues. In addition, the Company earns revenue as a result of its performance of services related to the Canton Network. During the three and nine months ended March 31, 2026, the Company recognized revenue of $3.5 million and $14.7 million, respectively, related to those services. Refer to Note 1, “Basis of Presentation” for details.
The Company uses the following methods, inputs, and assumptions in determining amounts of revenue to recognize:
Transaction Price
The Company allocates transaction price to the individual performance obligations within a contract. If the contracted prices reflect the relative standalone selling prices for the individual performance obligations, no allocations are made. Otherwise, the Company uses the relative selling price method to allocate the transaction price, obtained from sources such as the observable price of a good or service when the Company sells that good or service separately in similar circumstances and to similar clients. If such evidence is unavailable, the Company uses the best estimate of the selling price, which includes various internal factors such as pricing strategy and market factors. A significant portion of the Company’s performance obligations are generated from transactions with volume based fees and includes services that are delivered at the same time. The Company recognizes revenue related to these arrangements over time as the services are provided to the client. While many of the Company’s contracts contain some component of variable consideration, the Company only recognizes variable consideration that is not expected to reverse. The Company allocates variable payments to distinct services in an overall contract when the variable payment relates specifically to that particular service and for which the variable payment reflects what the Company expects to receive in exchange for that particular service. As a result, the Company generally allocates and recognizes variable consideration in the period it has the contractual right to invoice the client.
As described above, Broadridge’s most significant performance obligations involve variable consideration which constitutes the majority of its revenue streams. The Company’s variable consideration components meet the criteria in ASC 606 for exclusion from disclosure of the remaining transaction price allocated to unsatisfied performance obligations as does any contracts with clients with an original duration of one year or less. The Company has contracts with clients that vary in length depending on the nature of the services and contractual terms negotiated with the client, and they generally extend over a multi-year period.
Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a client, are excluded from revenue. Distribution revenues associated with shipping and handling activities are accounted for as a fulfillment activity and recognized as the related services or products are transferred to the client. As a practical expedient, the Company does not adjust the transaction price for the effects of a significant financing component if, at contract inception, the period between client payment and the transfer of goods or services is expected to be one year or less.
Disaggregation of Revenue
The Company has presented below its revenue disaggregated by product line and by revenue type within each of its Investor Communication Solutions and Global Technology and Operations reportable segments.
15
Table of Contents
Revenues in the Investor Communication Solutions segment are derived from both recurring and event-driven activity. In addition, the level of recurring and event-driven activity the Company processes directly impacts Distribution revenues. While event-driven activity is highly repeatable, it may not recur on an annual basis. Event-driven revenues are based on the number of special events and corporate transactions the Company processes. Event-driven activity is impacted by financial market conditions and changes in regulatory compliance requirements, resulting in fluctuations in the timing and levels of event-driven revenues. Distribution revenues primarily include revenues related to the physical mailing and distribution of proxy materials, interim communications, transaction reporting, customer communications and fulfillment services, as well as Broadridge Retirement and Workplace administrative services.
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
(in millions)
Investor Communication Solutions
Regulatory$399.4 $365.0 $845.4 $765.4 
Data-driven fund solutions125.7 114.8 349.4 337.4 
Issuer65.3 60.5 136.9 127.4 
Customer communications209.3 199.5 575.6 542.8 
       Total ICS Recurring revenues799.8 739.8 1,907.3 1,773.0 
Equity and other40.2 31.4 103.4 77.2 
Mutual funds32.4 21.3 173.6 163.2 
       Total ICS Event-driven revenues72.7 52.7 277.0 240.3 
Distribution revenues592.8 555.0 1,644.2 1,499.0 
       Total ICS Revenues$1,465.3 $1,347.5 $3,828.5 $3,512.3 
Global Technology and Operations
Capital markets$295.5 $289.4 $877.1 $829.9 
Wealth and investment management192.8 174.7 551.3 481.5 
       Total GTO Recurring revenues$488.3 $464.1 1,428.4 1,311.4 
       Total Revenues$1,953.6 $1,811.7 $5,256.9 $4,823.7 
Revenues by Type
Recurring revenues$1,288.1 $1,203.9 $3,335.7 $3,084.3 
Event-driven revenues72.7 52.7 277.0 240.3 
Distribution revenues592.8 555.0 1,644.2 1,499.0 
       Total Revenues$1,953.6 $1,811.7 $5,256.9 $4,823.7 
Contract Balances
The following table provides information about contract assets and liabilities:
March 31,
2026		June 30,
2025
(in millions)
Contract assets$140.1 $137.5 
Contract liabilities$596.9 $678.3 
16
Table of Contents
Contract assets result from revenue already recognized but not yet invoiced, including certain future amounts to be collected under software term licenses and certain other client contracts. Contract liabilities represent consideration received or receivable from clients before the transfer of control occurs (deferred revenue). Contract balances are reported in a net contract asset or liability position on a contract-by-contract basis at the end of each reporting period.
The Company recognized $278.7 million of revenue during the nine months ended March 31, 2026 that was included in the contract liability balance as of June 30, 2025. During the nine months ended March 31, 2026, contract assets increased due to a difference between the timing of billing and the revenue recognition of software term license revenues, while contract liabilities decreased primarily as a result of the delivery of a software term license to a client, with an equal and offsetting impact to the Company’s internal use software assets.
NOTE 4. WEIGHTED-AVERAGE SHARES OUTSTANDING
Basic earnings per share (“EPS”) is calculated by dividing the Company’s Net earnings by the basic Weighted-average shares outstanding for the periods presented. The Company calculates diluted EPS using the treasury stock method, which reflects the potential dilution that could occur if outstanding stock options at the presented date are exercised and restricted stock unit awards have vested.
The computation of diluted EPS excluded 1.3 million options and restricted stock units to purchase Broadridge common stock for the three months ended March 31, 2026, and 0.9 million options and restricted stock units to purchase Broadridge common stock for the nine months ended March 31, 2026, as the effect of their inclusion would have been anti-dilutive.
The computation of diluted EPS excluded 0.3 million options and restricted stock units to purchase Broadridge common stock for the three months ended March 31, 2025, and 0.5 million options and restricted stock units to purchase Broadridge common stock for the nine months ended March 31, 2025, as the effect of their inclusion would have been anti-dilutive.
The following table sets forth the denominators of the basic and diluted EPS computations:
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
(in millions)
Weighted-average shares outstanding:
       Basic116.3 117.2 116.7 117.1 
       Common stock equivalents0.7 1.3 0.9 1.2 
       Diluted117.0 118.5 117.6 118.3 

NOTE 5. INTEREST EXPENSE, NET
Interest expense, net consisted of the following:
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
(in millions)
Interest expense on borrowings$(27.3)$(33.5)$(82.9)$(106.0)
Interest income2.3 2.4 9.9 9.8 
Interest expense, net$(25.1)$(31.1)$(73.1)$(96.1)
NOTE 6. ACQUISITIONS
Assets acquired and liabilities assumed in business combinations are recorded on the Company’s Condensed Consolidated Balance Sheets as of the respective acquisition date based upon the estimated fair values at such date. The results of operations of the business acquired by the Company are included in the Company’s Condensed Consolidated Statements of Earnings since the respective date of acquisition. The excess of the purchase price over the estimated fair values of the underlying assets acquired and liabilities assumed is allocated to Goodwill. Acquired Goodwill in connection with these acquisitions represents expected synergies from the combined operations. Pro forma information for these acquired businesses is not provided because they did not have a material effect, individually or in the aggregate, on the Company’s consolidated results of operations.
17
Table of Contents
FISCAL YEAR 2026 BUSINESS COMBINATIONS
In January 2026, the Company acquired Acolin Group Holdco Limited (“Acolin”). Acolin is a European provider of cross-border fund distribution and regulatory services. Acolin is included in the Company’s ICS reportable segment. The aggregate purchase price included $65.4 million in cash, $2.4 million in deferred payments, and contingent consideration with a fair value of $16.9 million. The contingent consideration is payable through fiscal year 2027 upon the achievement by the acquired business of certain defined revenue targets. Net tangible liabilities assumed in the transaction were $10.7 million. This acquisition resulted in $73.9 million of Goodwill, which is not tax deductible. Intangible assets acquired, which totaled $21.4 million, consist primarily of customer relationships and software technology, which are being amortized over a seven-year life and a five-year life, respectively.
In September 2025, the Company acquired all of the ownership interests of LDI-MAP, LLC (“iJoin”), a retirement plan technology provider specializing in participant onboarding, engagement, and analytics solutions for the retirement industry. iJoin is included in the Company’s ICS reportable segment. The aggregate purchase price included $31.9 million in cash, $3.5 million in deferred payments, and contingent consideration with a fair value of $8.5 million. The contingent consideration is payable through fiscal year 2028 upon the achievement by the acquired business of certain defined revenue targets. Net tangible assets acquired in the transaction were $0.1 million. This acquisition resulted in $24.1 million of Goodwill, which is tax deductible. Intangible assets acquired, which totaled $19.7 million, consist primarily of customer relationships and software technology, which are being amortized over a seven-year life and a five-year life, respectively.
In August 2025, the Company acquired Signal Agency Limited (“Signal”), a UK-based provider of design, technology and consulting services that support omni-channel communications for financial services and other firms. Signal is included in the Company’s ICS reportable segment. The aggregate purchase price was $26.6 million, net of cash acquired, which includes $2.7 million in deferred payments.
FISCAL YEAR 2025 BUSINESS COMBINATION
SIS
On November 1, 2024, the Company acquired Kyndryl’s Securities Industry Services (“SIS”) business (“SIS Business”) to provide wealth management, capital markets, and information technology solutions in Canada. SIS is included in the Company’s GTO reportable segment.
•For tax purposes, Goodwill is amortizable and tax deductible.
•Intangible assets acquired consist primarily of software technology and customer relationships, which are being amortized over a ten-year life.
In connection with the acquisition, on November 1, 2024, Broadridge Software Limited, a subsidiary of the Company, entered into the SIS Services Agreement with Kyndryl Canada Limited (“Kyndryl Canada”) pursuant to which Kyndryl Canada will provide infrastructure managed services for the SIS Business. Refer to Note 15, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for further details.
Financial information for SIS is as follows:
SIS
Cash payments$185.5 
Net tangible liabilities assumed$(1.9)
Goodwill38.3 
Intangible assets149.1 
Aggregate purchase price$185.5 
During the three months ended September 30, 2024, there was also an immaterial acquisition with an aggregate purchase price of $8.0 million.
18
Table of Contents
NOTE 7. FAIR VALUE OF FINANCIAL INSTRUMENTS
Accounting guidance on fair value measurements for certain financial assets and liabilities requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:
Level 1     Quoted market prices in active markets for identical assets and liabilities.
Level 2     Observable market-based inputs other than quoted prices in active markets for identical assets and liabilities.

Level 3     Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.
In valuing assets and liabilities, the Company is required to maximize the use of quoted market prices and minimize the use of unobservable inputs. The Company calculates the fair value of its Level 1 and Level 2 instruments, as applicable, based on the exchange traded price of similar or identical instruments where available or based on other observable instruments. These calculations take into consideration the credit risk of both the Company and its counterparties. The Company has not changed its valuation techniques in measuring the fair value of any of its Level 1 and Level 2 financial assets and liabilities during the period.
The fair values of contingent consideration obligations are based on a probability weighted approach derived from the estimates of earn-out criteria and the probability assessment with respect to the likelihood of achieving those criteria. The measurement is based on significant inputs that are not observable in the market; therefore, the Company classifies this liability as Level 3 in the table below.
The determination of the fair value of the Company’s digital assets is discussed below.
The following tables set forth the Company’s financial assets and liabilities at March 31, 2026 and June 30, 2025, respectively, that are recorded at fair value, segregated by level within the fair value hierarchy:
March 31, 2026
Level 1Level 2Level 3Total
(in millions)
Assets:
Other current assets:
       Securities$0.8 $— $— $0.8 
Other non-current assets:
       Securities (a)204.6 — — 204.6 
Derivative asset— 8.1 — 8.1 
Pre-funded warrants— 56.4 — 56.4 
Digital assets217.8 — — 217.8 
Total assets as of March 31, 2026
$423.3 $64.5 $— $487.8 
Liabilities:
       Contingent consideration obligations— — 40.6 40.6 
Total liabilities as of March 31, 2026
$— $— $40.6 $40.6 
19
Table of Contents
June 30, 2025
Level 1Level 2Level 3Total
(in millions)
Assets:
Other current assets:
       Securities $0.7 $— $— $0.7 
Other non-current assets:
       Securities (a)195.2 — — 195.2 
Total assets as of June 30, 2025
$195.9 $— $— $195.9 
Liabilities:
       Derivative liability$— $24.6 $— $24.6 
       Contingent consideration obligations— — 14.0 14.0 
Total liabilities as of June 30, 2025
$— $24.6 $14.0 $38.6 
_________
(a) Includes investments related to the Company’s Defined Benefit Pension Plans and Executive Retirement and Savings Plan (the “ERSP”).
In addition, the Company has non-marketable securities with a carrying amount of $69.6 million and $60.5 million as of March 31, 2026 and June 30, 2025, respectively, that to the extent they have been remeasured during the period are classified as Level 2 financial assets and included as part of Other non-current assets on the Condensed Consolidated Balance Sheets.
Digital Assets
Beginning in the fourth quarter of fiscal year 2024, the Company began to earn Canton Coins for its function as a Super Validator and Validator on the Global Synchronizer, the Canton Network’s decentralized interoperability infrastructure. Prior to the first quarter of fiscal year 2026, the Company held the Canton Coins on its Balance Sheet for investment purposes and to pay any fees associated with its Canton Network activity. During the first quarter of fiscal year 2026, the Company began converting the coins to cash nearly immediately after they were earned and continued to do so periodically throughout the second fiscal quarter of 2026. Refer to Note 1, “Basis of Presentation” for details regarding the Canton Network and the Company’s Canton Coin holdings.
The following table presents the Company’s Canton Coin holdings as of March 31, 2026:
March 31, 2026
Quantity of CoinsCost BasisFair Value
($ in millions)
Canton Coins1.5  billion$11.5 $217.8 
Prior to the second fiscal quarter of 2026, Canton Coins were classified as Level 3 within the fair value hierarchy because the valuation required assumptions that were both significant and unobservable. During the quarter ended December 31, 2025, the Company’s digital asset holdings were transferred from Level 3 to Level 1 as Canton Coins were listed on several public exchanges, and therefore quoted market prices in active markets were available. As of March 31, 2026, the Company’s Canton Coin holdings were measured at fair value based on quoted market prices from the Company’s principal market.
Digital Asset Loan Receivable, net
During the second quarter of fiscal year 2026, Broadridge contributed 342 million of its Canton Coins with a total fair value of $53.1 million at the time of the transaction for 17.3 million pre-funded common stock purchase warrants (the “Warrants”) representing an interest in Canton Strategic Holdings, Inc. (“CNTN”), formerly Tharimmune, Inc. in conjunction with a private placement in public equity offering (the “Canton Digital Asset Treasury”). Upon exercise, the Warrants entitle the Company to receive an equal number of shares of common stock of CNTN. Upon closing of the offering, CNTN began to execute a digital asset treasury strategy that includes the acquisition of Canton Coins via capital markets activities, generation of Canton Coins by applying to be a Super Validator, and investing in the development of applications on the Canton Network that drive institutional utility, scalability and adoption across capital markets.
20
Table of Contents
The approval of CNTN’s shareholders was required to authorize the issuance of common stock upon exercise of the Warrants that Broadridge received in exchange for the contribution of the Canton Coins. The arrangement stipulates that the transaction would unwind if shareholder approval to issue the shares was not obtained by May 13, 2026, which would result in the return of the Canton Coins to Broadridge and cancellation of the Warrants. Because such approval had not been obtained as of December 31, 2025, for the second quarter of fiscal year 2026, the transaction was considered a collateralized lending transaction for accounting purposes, whereby CNTN borrowed the Canton Coins from Broadridge and collateralized the borrowing with the Warrants issued to Broadridge. Upon close of the transaction, Broadridge derecognized the Canton Coins, recognized a $53.1 million realized gain, and recognized a Digital Asset Loan Receivable at fair value, net of a reserve for estimated credit losses included in Other non-current assets on the Condensed Consolidated Balance Sheet. The collateral (i.e. the Warrants) was not recognized by Broadridge and would only be recognized in the event of CNTN’s default.
On January 30, 2026, CNTN’s shareholders approved the issuance of its common stock upon the exercise of the Warrants. As a result, the Digital Asset Loan Receivable, net was derecognized and the Warrants were recognized on the Condensed Consolidated Balance Sheet at their fair value, determined based on the CNTN publicly traded shares, resulting in a $34.1 million realized gain for the third quarter of fiscal year 2026. The Warrants continue to be remeasured to fair market value at the end of each reporting period, which resulted in an unrealized loss of $28.0 million for the third quarter of fiscal year 2026.
The Warrants are classified as Level 2. The Warrants are exercisable in three tranches with two-thirds of the Warrants currently exercisable and one-third of the Warrants subject to lock-up restrictions through May 5, 2026.
The following tables set forth an analysis of changes during the three and nine months ended March 31, 2026, in Level 3 financial assets and liabilities of the Company. Changes in economic conditions or model-based valuation techniques may require the transfer of financial instruments between levels. The Company’s policy is to record transfers between levels, if any, as of the beginning of the fiscal year.
Digital Assets
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
20262026
 (in millions)
Beginning balance$— $— 
Opening Retained Earnings Adjustment— 24.5 
Beginning-of-period Level 3 transfer-out value— (24.5)
Ending balance$— $— 
During the three months ended March 31, 2026, there were no realized losses relating to digital assets, and the Company recognized unrealized losses totaling $0.5 million included as a component of Other non-operating income (expenses), net on the Statements of Earnings. During the nine months ended March 31, 2026, the Company recognized realized and unrealized gains on digital assets totaling $58.4 million and $181.9 million, respectively, included as a component of Other non-operating income (expenses), net on the Statements of Earnings. There were no realized gains or realized losses recorded on the disposition of Level 3 digital assets during the three and nine months ended March 31, 2025.
The Company did not incur any Level 3 fair value asset impairments during the nine months ended March 31, 2026 and 2025, respectively.
Contingent consideration obligations
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
 (in millions)
Beginning balance$22.5 $14.0 $14.0 $14.0 
Additional contingent consideration incurred17.2 — 25.7 — 
Net increase in contingent consideration liability1.2 — 1.2 — 
Foreign currency impact on contingent consideration liability(0.4)— (0.4)— 
Ending balance$40.6 $14.0 $40.6 $14.0 
21
Table of Contents
NOTE 8. DEFERRED CLIENT CONVERSION AND START-UP COSTS
Deferred client conversion and start-up costs consisted of the following:
March 31,
2026		June 30,
2025
(in millions)
Deferred client conversion and start-up costs$818.8 $837.5 
Other start-up costs3.4 5.4 
       Total$822.2 $842.9 
Deferred client conversion and start-up costs include direct costs incurred to set up or convert a client’s systems to function with the Company’s technology, and are generally deferred and recognized on a straight-line basis over the service term of the arrangement to which the costs relate, which commences when the client goes live with the Company’s services. The key judgment for determining the amount of costs to be deferred relates to the extent to which such costs are recoverable. This estimate includes (i) projected future client revenues, including variable revenues, offset by an estimate of conversion costs including an estimate of onboarding costs as well as ongoing operational costs, and (ii) an estimate of the expected client life. This is also the basis for how the Company assesses such costs for impairment.
Deferred client conversion and start-up costs of $822.2 million as of March 31, 2026 consist of costs incurred to set-up or convert a client’s systems to function with the Company’s technology of $818.8 million, as well as other start-up costs of $3.4 million. Deferred client conversion and start-up costs of $842.9 million as of June 30, 2025 consist of costs incurred to set-up or convert a client’s systems to function with the Company’s technology of $837.5 million, as well as other start-up costs of $5.4 million.
The total amount of Deferred client conversion and start-up costs and Deferred sales commission costs amortized in Operating expenses during the three months ended March 31, 2026 and 2025, were $37.1 million and $36.8 million, respectively.
The total amount of Deferred client conversion and start-up costs and Deferred sales commission costs amortized in Operating expenses during the nine months ended March 31, 2026 and 2025, were $110.2 million and $111.5 million, respectively.
NOTE 9. OTHER NON-CURRENT ASSETS
Other non-current assets consisted of the following:
March 31,
2026		June 30,
2025
(in millions)
Long-term investments$330.4 $299.2 
Digital assets (a)217.8 — 
ROU assets (b)144.2 176.1 
Contract assets (c)140.1 137.5 
Deferred sales commissions costs125.5 131.7 
Long-term broker fees18.4 24.3 
Deferred data center costs (d)5.7 8.3 
Other (e)122.8 50.9 
       Total$1,105.0 $827.9 
_________
(a) Please refer to Note 1, “Basis of Presentation” and Note 7, “Fair Value of Financial Instruments” for further discussion.
(b) ROU assets represent the Company’s right to use an underlying asset for the lease term.
(c) Contract assets result from revenue already recognized but not yet invoiced, including certain future amounts to be collected under software term licenses and certain other client contracts.
(d) Represents deferred data center costs associated with the Company’s information technology services agreements. Please refer to Note 15, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for a further discussion.
22
Table of Contents
(e) Includes $56.4 million of Warrants as of March 31, 2026 related to the Company's contribution of Canton Coins to CNTN during the second quarter of fiscal year 2026. Please refer to Note 7, “Fair Value of Financial Instruments” for a further discussion.
Includes $8.1 million derivative assets as of March 31, 2026 related to the Company’s cross-currency swap derivative contracts. The derivative was in a liability position as of June 30, 2025 and was included within Other non-current liabilities. Please refer to Note 12, “Other Non-Current Liabilities” for details. Please refer to Note 15, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for a further discussion.
NOTE 10. PAYABLES AND ACCRUED EXPENSES
Payables and accrued expenses consisted of the following:
March 31,
2026		June 30,
2025
(in millions)
Accounts payable$235.9 $220.3 
Employee compensation and benefits337.8 372.8 
Accrued dividend payable112.8 103.1 
Accrued broker fees115.4 137.0 
Customer deposits97.0 84.4 
Business process outsourcing administration fees54.2 52.6 
Operating lease liabilities38.9 37.2 
Accrued taxes36.6 60.1 
Other114.9 45.4 
     Total$1,143.4 $1,112.8 
Restructuring Charges

The total Employee compensation and benefits liability within the table above of $337.8 million and $372.8 million for March 31, 2026 and June 30, 2025, respectively, includes a restructuring liability of $9.7 million and $22.7 million as of March 31, 2026 and June 30, 2025, respectively.
23
Table of Contents
NOTE 11. BORROWINGS
Outstanding borrowings and available capacity under the Company’s borrowing arrangements were as follows:
Expiration
Date		Principal amount outstanding at March 31, 2026Carrying value at March 31, 2026Carrying value at June 30, 2025Unused
Available
Capacity		Fair Value at March 31, 2026
(in millions)
Current portion of long-term debt
Fiscal 2016 Senior NotesJune 2026$500.0 $499.8 $499.3 $— $498.8 
             Total$500.0 $499.8 $499.3 $— $498.8 
Long-term debt, excluding current portion
Fiscal 2025 Revolving Credit Facility:
       U.S. dollar trancheDecember 2029$170.0 $170.0 $— $830.0 $170.0 
       Multicurrency trancheDecember 202968.3 68.3 133.5 431.7 68.3 
             Total Revolving Credit Facility$238.3 $238.3 $133.5 $1,261.7 $238.3 
Fiscal 2026 Term LoanAugust 2030$750.0 $747.2 $879.1 $— $750.0 
Fiscal 2020 Senior NotesDecember 2029750.0 746.7 746.0 — 701.9 
Fiscal 2021 Senior NotesMay 20311,000.0 995.1 994.4 — 890.3 
             Total Senior Notes$1,750.0 $1,741.7 $1,740.3 $— $1,592.2 
             Total long-term debt$2,738.3 $2,727.2 $2,753.0 $1,261.7 $2,580.5 
             Total debt$3,238.3 $3,227.0 $3,252.3 $1,261.7 $3,079.3 
Future principal payments on the Company’s outstanding debt are as follows:
Years ending June 30,20262027202820292030ThereafterTotal
(in millions)$500.0 $— $— $— $988.3 $1,750.0 $3,238.3 
Fiscal 2025 Revolving Credit Facility: In December 2024, the Company entered into an amended and restated $1.5 billion five-year revolving credit facility (the “Fiscal 2025 Revolving Credit Facility”) which replaced the $1.5 billion five-year revolving credit facility entered into during April 2021 (the “Fiscal 2021 Revolving Credit Facility”) (together the “Revolving Credit Facilities”). The Fiscal 2025 Revolving Credit Facility is comprised of a $1.0 billion U.S. dollar tranche and a $500.0 million multicurrency tranche.
The weighted-average interest rate on the Revolving Credit Facilities was 4.33% and 4.46% for the three and nine months ended March 31, 2026, and 5.07% and 5.68% for the three and nine months ended March 31, 2025, respectively. The fair value of the variable-rate Fiscal 2025 Revolving Credit Facility borrowings at March 31, 2026 approximates carrying value and has been classified as a Level 2 financial liability (as defined in Note 7, “Fair Value of Financial Instruments”).
Under the Fiscal 2025 Revolving Credit Facility, revolving loans denominated in U.S. Dollars, Canadian Dollars, Euro, Sterling, Swedish Kronor, and Yen bear interest at Adjusted Term SOFR, Adjusted Term CORRA, EURIBOR, TIBOR, SONIA, and STIBOR, respectively, plus 1.000% per annum (subject to multiple step-ups to 1.250% per annum and multiple step-downs to 0.785%, in each case, based on ratings). The Fiscal 2025 Revolving Credit Facility also has a facility fee of 0.125% per annum (subject to multiple step-ups to 0.25% per annum and multiple step-downs to 0.090% per annum, in each case, based on ratings). The Company may voluntarily prepay, in whole or in part and without premium or penalty, borrowings under the Fiscal 2025 Revolving Credit Facility in accordance with individual drawn loan maturities. The Fiscal 2025 Revolving Credit Facility is subject to certain covenants, including a leverage ratio. At March 31, 2026, the Company was in compliance with all covenants of the Fiscal 2025 Revolving Credit Facility.
24
Table of Contents
Fiscal 2021 Term Loans: In March 2021, the Company entered into an amended and restated term credit agreement, as amended on December 23, 2021 and May 23, 2023 (“Term Credit Agreement”), providing for term loan commitments in an aggregate principal amount of $2.55 billion, comprised of a $1.0 billion tranche (“Tranche 1”), and a $1.55 billion tranche (“Tranche 2,” together with Tranche 1, the “Fiscal 2021 Term Loans”). The proceeds of the Fiscal 2021 Term Loans were used by the Company to solely finance the acquisition of Itiviti Holding AB and pay certain fees and expenses in connection therewith. Once borrowed, amounts repaid or prepaid in respect of such Fiscal 2021 Term Loans may not be reborrowed. The Tranche 1 Loan was to mature on the date that is 18 months after the date on which the Fiscal 2021 Term Loans were borrowed (the “Funding Date”), but was repaid in full in May 2021 with proceeds from the Fiscal 2021 Senior Notes (as discussed further below). The Tranche 2 Loan was to mature in May 2024. The Tranche 2 Loan bore interest at Adjusted Term SOFR plus 1.000% per annum (subject to step-ups to Adjusted Term SOFR plus 1.250% or a step-down to Adjusted Term SOFR plus 0.750% based on ratings). On May 23, 2023, the Company amended the interest rate index from LIBOR to Adjusted Term SOFR. All other terms remained unchanged.
Fiscal 2024 Amended Term Loan: On August 17, 2023, the Company amended and restated the Term Credit Agreement (the “Amended and Restated Term Credit Agreement”), providing for term loan commitment in an aggregate principal amount of $1.3 billion, replacing the Tranche 2 Loan of the Fiscal 2021 Term Loans (the “Fiscal 2024 Amended Term Loan”). The Fiscal 2024 Amended Term Loan will mature in August 2026 on the third anniversary of the amended Funding Date of August 17, 2023. The Fiscal 2024 Term Loan bears interest at Adjusted Term SOFR plus 1.250% per annum (subject to a step-up to Adjusted Term SOFR plus 1.375% or step-downs to Adjusted Term SOFR plus 1.125% and Adjusted Term SOFR plus 1.000% in each case, based on ratings).
Fiscal 2026 Term Loan: On August 21, 2025, the Company entered into the Term Credit Agreement (the “Term Credit Agreement”), providing for term loan commitment in an aggregate principal amount of $750.0 million (the “Fiscal 2026 Term Loan”), replacing the Fiscal 2024 Amended Term Loan. The Fiscal 2026 Term Loan will mature in August 2030 on the fifth anniversary of the amended Funding Date of August 21, 2025. The Fiscal 2026 Term Loan bears interest at Term SOFR plus 1.250% per annum (subject to a step-up to Term SOFR plus 1.375% or term SOFR plus 1.625% or a step-down to Term SOFR plus 1.125% or Term SOFR plus 1.000%, in each case, based on ratings).
The Company may voluntarily prepay the Fiscal 2026 Term Loan in whole or in part and without premium or penalty. In the event of receipt of cash proceeds by the Company or its subsidiaries from certain incurrences of indebtedness, certain equity issuances, and certain sales, transfers or other dispositions of assets, the Company will be required to prepay the Fiscal 2026 Term Loan, subject to certain limitations and qualifications as set forth in the Term Credit Agreement. The Term Credit Agreement is subject to certain covenants, including a leverage ratio. At March 31, 2026, the Company was in compliance with all covenants of the Fiscal 2026 Term Loan.
Fiscal 2016 Senior Notes: In June 2016, the Company completed an offering of $500.0 million in aggregate principal amount of senior notes (the “Fiscal 2016 Senior Notes”). The Fiscal 2016 Senior Notes will mature on June 27, 2026 and bear interest at a rate of 3.40% per annum. Interest on the Fiscal 2016 Senior Notes is payable semi-annually in arrears on June 27 and December 27 of each year. The Fiscal 2016 Senior Notes were issued at a price of 99.589% (effective yield to maturity of 3.449%). The indenture governing the Fiscal 2016 Senior Notes contains certain covenants including covenants restricting the Company’s ability to create or incur liens securing indebtedness for borrowed money, to enter into certain sale-leaseback transactions, certain subsidiary indebtedness, and to engage in mergers or consolidations and transfer or lease of all or substantially all of the Company’s assets. At March 31, 2026, the Company is in compliance with the covenants of the indenture governing the Fiscal 2016 Senior Notes. The indenture also contains covenants regarding the purchase of the Fiscal 2016 Senior Notes upon a change of control triggering event. The Company may redeem the Fiscal 2016 Senior Notes in whole or in part at any time before their maturity. The fair value of the fixed-rate Fiscal 2016 Senior Notes at March 31, 2026 and June 30, 2025 was $498.8 million and $494.1 million, respectively, based on quoted market prices and has been classified as a Level 1 financial liability (as defined in Note 7, “Fair Value of Financial Instruments”).
25
Table of Contents
Fiscal 2020 Senior Notes: In December 2019, the Company completed an offering of $750.0 million in aggregate principal amount of senior notes (the “Fiscal 2020 Senior Notes”). The Fiscal 2020 Senior Notes will mature on December 1, 2029 and bear interest at a rate of 2.90% per annum. Interest on the Fiscal 2020 Senior Notes is payable semi-annually in arrears on June 1 and December 1 of each year. The Fiscal 2020 Senior Notes were issued at a price of 99.717% (effective yield to maturity of 2.933%). The indenture governing the Fiscal 2020 Senior Notes contains certain covenants including covenants restricting the Company’s ability to create or incur liens securing indebtedness for borrowed money, to enter into certain sale-leaseback transactions, certain subsidiary indebtedness, and to engage in mergers or consolidations and transfer or lease of all or substantially all of the Company’s assets. At March 31, 2026, the Company is in compliance with the covenants of the indenture governing the Fiscal 2020 Senior Notes. The indenture also contains covenants regarding the purchase of the Fiscal 2020 Senior Notes upon a change of control triggering event. The Company may redeem the Fiscal 2020 Senior Notes in whole or in part at any time before their maturity. The fair value of the fixed-rate Fiscal 2020 Senior Notes at March 31, 2026 and June 30, 2025 was $701.9 million and $$702.8 million, respectively, based on quoted market prices and has been classified as a Level 1 financial liability (as defined in Note 7, “Fair Value of Financial Instruments”).
Fiscal 2021 Senior Notes: In May 2021, the Company completed an offering of $1.0 billion in aggregate principal amount of senior notes (the “Fiscal 2021 Senior Notes”). The Fiscal 2021 Senior Notes will mature on May 1, 2031 and bear interest at a rate of 2.60% per annum. Interest on the Fiscal 2021 Senior Notes is payable semi-annually in arrears on May 1 and November 1 of each year. The Fiscal 2021 Senior Notes were issued at a price of 99.957% (effective yield to maturity of 2.605%). The indenture governing the Fiscal 2021 Senior Notes contains certain covenants including covenants restricting the Company’s ability to create or incur liens securing indebtedness for borrowed money, to enter into certain sale-leaseback transactions, certain subsidiary indebtedness, and to engage in mergers or consolidations and transfer or lease of all or substantially all of the Company’s assets. At March 31, 2026, the Company is in compliance with the covenants of the indenture governing the Fiscal 2021 Senior Notes. The indenture also contains covenants regarding the purchase of the Fiscal 2021 Senior Notes upon a change of control triggering event. The Company may redeem the Fiscal 2021 Senior Notes in whole or in part at any time before their maturity. The fair value of the fixed-rate Fiscal 2021 Senior Notes at March 31, 2026 and June 30, 2025 was $890.3 million and $891.4 million, respectively, based on quoted market prices and has been classified as a Level 1 financial liability (as defined in Note 7, “Fair Value of Financial Instruments”).
The Fiscal 2025 Revolving Credit Facility, Fiscal 2026 Term Loan, Fiscal 2016 Senior Notes, Fiscal 2020 Senior Notes and Fiscal 2021 Senior Notes are senior unsecured obligations of the Company and are ranked equally in right of payment.
In addition, certain of the Company’s subsidiaries established unsecured, uncommitted lines of credit with banks. As of March 31, 2026 and June 30, 2025, respectively, there were no outstanding borrowings under these lines of credit.
NOTE 12. OTHER NON-CURRENT LIABILITIES
Other non-current liabilities consisted of the following:
March 31,
2026		June 30,
2025
(in millions)
Post-employment retirement obligations$250.4 $238.0 
Operating lease liabilities141.4 169.5 
Software license liabilities117.6 35.8 
Non-current income taxes70.8 74.6 
Acquisition related contingencies43.2 14.0 
Other (a)19.0 53.5 
       Total$642.4 $585.5 
(a) Includes $24.6 million derivative liability as of June 30, 2025 related to the Company’s cross-currency swap derivative contracts. The derivative is in an asset position as of March 31, 2026 and is included within Other non-current assets. Please refer to Note 9, “Other Non-Current Assets” for details. Please refer to Note 15, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” for a further discussion.
26
Table of Contents
The Company sponsors a Supplemental Officer Retirement Plan (the “Broadridge SORP”). The Broadridge SORP is a non-qualified ERISA defined benefit plan pursuant to which the Company will pay supplemental pension benefits to certain key officers upon retirement based upon the officers’ years of service and compensation. The Broadridge SORP was closed to new participants beginning in fiscal year 2015. The Company also sponsors a Supplemental Executive Retirement Plan (the “Broadridge SERP”). The Broadridge SERP is also a non-qualified ERISA defined benefit plan pursuant to which the Company will pay supplemental pension benefits to certain key executives upon retirement based upon the executives’ years of service and compensation. The Broadridge SERP was closed to new participants beginning in fiscal year 2015.
The SORP and SERP are effectively funded with assets held in a Rabbi Trust. The assets invested in the Rabbi Trust are to be used in part to fund benefit payments to participants under the terms of the plans. The Rabbi Trust is irrevocable and no portion of the trust funds may be used for any purpose other than the delivery of those assets to the participants, except that assets held in the Rabbi Trust would be subject to the claims of the Company’s general creditors in the event of bankruptcy or insolvency of the Company. The Broadridge SORP and SERP are non-qualified plans for federal tax purposes and for purposes of Title I of ERISA. The Rabbi Trust assets had a value of $67.6 million at March 31, 2026 and $66.4 million at June 30, 2025 and are included in Other non-current assets in the accompanying Condensed Consolidated Balance Sheets. The SORP and the SERP had a total benefit obligation of $63.1 million at March 31, 2026 and $62.6 million at June 30, 2025 and are included in Other non-current liabilities in the accompanying Condensed Consolidated Balance Sheets.
NOTE 13. STOCK-BASED COMPENSATION
The activity related to the Company’s incentive equity awards for the three months ended March 31, 2026 consisted of the following:
Stock OptionsTime-based
Restricted Stock Units		Performance-based
Restricted Stock Units
Number of
Options		Weighted-
Average
Exercise
Price		Number
of Shares		Weighted-
Average
Grant
Date Fair
Value		Number
of Shares		Weighted-
Average
Grant
Date Fair
Value
Balances at December 31, 2025
1,723,731 $163.78 759,447 $192.97 263,920 $201.29 
Granted525,517 190.89 12,154 185.63 5,227 177.88 
Exercise of stock options (a)(32,438)108.54 — — — — 
Vesting of restricted stock units
— — (5,011)204.45 — — 
Expired/forfeited— — (6,355)200.65 — — 
Balances at March 31, 2026 (b),(c)
2,216,810 $171.02 760,235 $192.71 269,147 $200.83 
_________
(a)Stock options exercised during the period of October 1, 2025 through March 31, 2026 had an aggregate intrinsic value of $2.4 million.
(b)As of March 31, 2026, the Company’s outstanding vested and exercisable stock options using the March 31, 2026 closing stock price of $162.48 (approximately 1.2 million shares) had an aggregate intrinsic value of $29.0 million with a weighted-average exercise price of $148.64 and a weighted-average remaining contractual life of 5.4 years. The total of all stock options outstanding as of March 31, 2026 has a weighted-average remaining contractual life of 7.0 years.
(c)As of March 31, 2026, time-based restricted stock units and performance-based restricted stock units expected to vest using the March 31, 2026 closing stock price of $162.48 (approximately 0.6 million and 0.3 million shares, respectively) had an aggregate intrinsic value of $116.5 million and $41.5 million, respectively. Performance-based restricted stock units granted in the table above represent initial target awards, and performance adjustments for (i) change in shares issued based upon attainment of performance goals determined in the period, and (ii) estimated change in shares issued resulting from attainment of performance goals to be determined at the end of the prospective performance period.
27
Table of Contents
The activity related to the Company’s incentive equity awards for the nine months ended March 31, 2026 consisted of the following:
Stock OptionsTime-based
Restricted Stock Units		Performance-based
Restricted Stock Units
Number of
Options		Weighted-
Average
Exercise
Price		Number
of Shares		Weighted-
Average
Grant
Date Fair
Value		Number
of Shares		Weighted-
Average
Grant
Date Fair
Value
Balances at June 30, 2025
1,917,328 $157.97 590,603 $178.58 179,113 $189.69 
Granted539,247 191.77 239,740 222.73 101,259 221.28 
Exercise of stock options (a)(203,037)104.22 — — — — 
Vesting of restricted stock units
— — (46,919)166.70 (7,698)211.26 
Expired/forfeited(36,728)163.64 (23,189)195.89 (3,527)199.45 
Balances at March 31, 2026
2,216,810 $171.02 760,235 $192.71 269,147 $200.83 
_________
(a)Stock options exercised during the period of July 1, 2025 through March 31, 2026 had an aggregate intrinsic value of $28.8 million.
The Company has stock-based compensation plans under which the Company annually grants stock option and restricted stock unit awards. Stock options are granted to employees at exercise prices equal to the fair market value of the Company’s common stock on the dates of grant, with the measurement of stock-based compensation expense recognized in Net earnings based on the fair value of the award on the date of grant. Stock-based compensation expense of $24.3 million and $20.7 million, as well as related expected tax benefits of $3.4 million and $3.5 million were recognized for the three months ended March 31, 2026 and 2025, respectively. Stock-based compensation expense of $66.7 million and $57.4 million, as well as related expected tax benefits of $10.3 million and $9.9 million were recognized for the nine months ended March 31, 2026 and 2025, respectively.
As of March 31, 2026, the total remaining unrecognized compensation cost related to non-vested stock options and restricted stock unit awards amounted to $28.6 million and $84.7 million, respectively, which will be amortized over the weighted-average remaining requisite service periods of 1.6 years and 1.8 years, respectively.
For stock options granted, the fair value of each stock option was estimated on the date of grant using a binomial option pricing model. The binomial model considers a range of assumptions related to volatility, risk-free interest rate and employee exercise behavior. Expected volatilities utilized in the binomial model are based on a combination of implied market volatilities, historical volatility of the Company’s stock price and other factors. Similarly, the dividend yield is based on historical experience and expected future changes. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant. The binomial model also incorporates exercise and forfeiture assumptions based on an analysis of historical data. The expected life of the stock option grants is derived from the output of the binomial model and represents the period of time that options granted are expected to be outstanding.
NOTE 14. INCOME TAXES
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
(in millions)
Provision for income taxes$64.3 $67.8 $197.7 $121.9 
Effective tax rate18.9 %21.8 %21.4 %20.8 %
Excess tax benefits$0.1 $5.2 $2.4 $11.5 
The decrease in the effective tax rate for the three months ended March 31, 2026 was primarily driven by an increase in discrete tax benefits.
The increase in the effective tax rate for the nine months ended March 31, 2026 was primarily driven by an increase in pre-tax income relative to total discrete tax benefits.
28
Table of Contents
NOTE 15. CONTRACTUAL COMMITMENTS, CONTINGENCIES AND OFF-BALANCE SHEET ARRANGEMENTS
Data Center Agreements
The Company is a party to an Amended and Restated IT Services Agreement (“ITSA”) with Kyndryl, Inc. (“Kyndryl”), an entity formed by IBM’s spin-off of its managed infrastructure services business. Kyndryl provides certain aspects of the Company’s information technology infrastructure, including supporting its mainframe, midrange, network and data center operations, as well as providing disaster recovery services. On March 31, 2026, the Company further amended the ITSA which extended the arrangement through December 31, 2031 and incorporated an embedded lease for mainframe equipment and licenses for related software, which is expected to commence in March 2027. Fixed minimum commitments, including lease liabilities not yet recognized, under the ITSA at March 31, 2026 are $400.4 million through December 31, 2031, the final year of the ITSA.
Broadridge Software Limited, a subsidiary of the Company is party to the SIS Services Agreement with Kyndryl Canada, under which Kyndryl Canada provides infrastructure managed services for the SIS Business. The SIS Services Agreement expires on October 31, 2029. Fixed minimum commitments under the SIS Services Agreement at March 31, 2026 are $113.1 million through October 31, 2029, the final year of the SIS Services Agreement.
The Company is a party to an information technology agreement for private cloud services (the “Private Cloud Agreement”) under which Kyndryl operates, manages and supports the Company’s private cloud global distributed platforms and products, and operates and manages certain Company networks. The Private Cloud Agreement expires on March 31, 2030. Fixed minimum commitments under the Private Cloud Agreement at March 31, 2026 are $63.0 million through March 31, 2030, the final year of the Private Cloud Agreement.
Cloud Services Resale Agreement
On December 31, 2021, the Company and Presidio Networked Solutions LLC (“Presidio”), a reseller of services of Amazon Web Services, Inc. and its affiliates (collectively, “AWS”), entered into an Order Form and AWS Private Pricing Addendum, dated December 31, 2021 (the “Order Form”), to the Cloud Services Resale Agreement, dated December 15, 2017, as amended (together with the Order Form, the “AWS Cloud Agreement”), whereby Presidio will resell to the Company certain public cloud infrastructure and related services provided by AWS for the operation, management and support of the Company’s cloud global distributed platforms and products. The AWS Cloud Agreement expires on December 31, 2026. Fixed minimum commitments remaining under the AWS Cloud Agreement at March 31, 2026 are $41.5 million through December 31, 2026.
Investments
The Company has an equity method investment that is a variable interest in a variable interest entity. The Company is not the primary beneficiary and therefore does not consolidate the investee. The Company’s potential maximum loss exposure related to its unconsolidated investments in this variable interest entity totaled $25.4 million as of March 31, 2026, which represents the carrying value of the Company's investment.
In addition, as of March 31, 2026, the Company has future commitments to fund $15.0 million to the Company’s other investees.
Litigation
Broadridge or its subsidiaries are subject to various claims and legal matters that arise in the normal course of business (referred to as “Litigation”). The Company establishes reserves for Litigation and other loss contingencies when it is both probable that a loss will occur, and the amount of such loss can reasonably be estimated. For certain Litigation matters which the Company does not believe it probable that a loss will occur at this time, the Company is able to estimate a range of reasonably possible losses in excess of established reserves. Management currently estimates an aggregate range of reasonably possible losses for such matters of up to $5.0 million in excess of any established reserves. The Litigation matters underlying the estimated range will change from time to time, and it is reasonably possible that the actual results may vary significantly from this estimate. The Company’s management currently believes that resolution of any outstanding legal matters will not have a material adverse effect on the Company’s financial position or results of operations. However, legal matters are subject to inherent uncertainties and there exists the possibility that the ultimate resolution of these matters could have a material adverse impact on the Company’s financial position and results of operations in the period in which any such effects are recorded.
29
Table of Contents
Other
It is not the Company’s business practice to enter into off-balance sheet arrangements. However, the Company is exposed to market risk from changes in foreign currency exchange rates that could impact its financial position, results of operations, and cash flows. The Company manages its exposure to these market risks through its regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments.
In January 2022, the Company executed a series of cross-currency swap derivative contracts with an aggregate notional amount of EUR 880 million which are designated as net investment hedges to hedge a portion of its net investment in its subsidiaries whose functional currency is the Euro. The cross-currency swap derivative contracts are agreements to pay fixed-rate interest in Euros and receive fixed-rate interest in U.S. Dollars, thereby effectively converting a portion of the Company’s U.S. Dollar denominated fixed-rate debt into Euro denominated fixed-rate debt. The cross-currency swaps mature in May 2031 to coincide with the maturity of the Fiscal 2021 Senior Notes. Accordingly, foreign currency transaction gains or losses on the qualifying net investment hedge instruments are recorded as foreign currency translation within other comprehensive income (loss), net in the Condensed Consolidated Statements of Comprehensive Income and will remain in Accumulated other comprehensive income (loss) in the Condensed Consolidated Balance Sheets until the sale or complete liquidation of the underlying foreign subsidiary. At March 31, 2026, the Company’s position on the cross-currency swaps was an asset of $8.1 million, and is recorded as part of Other non-current assets on the Condensed Consolidated Balance Sheets with the offsetting amount recorded as part of Accumulated other comprehensive income (loss), net of tax. The Company has elected the spot method of accounting whereby the net interest savings from the cross-currency swaps is recognized as a reduction in interest expense in the Company’s Condensed Consolidated Statements of Earnings.
In May 2021, the Company settled a forward treasury lock agreement that was designated as a cash flow hedge, for a pre-tax loss of $11.0 million, after which the final settlement loss is being amortized into Interest expense, net ratably over the ten-year term of the Fiscal 2021 Senior Notes. The expected amount of the existing loss that will be amortized into earnings before income taxes within the next twelve months is approximately $1.1 million.
In the normal course of business, the Company enters into contracts in which it makes representations and warranties that relate to the performance of the Company’s products and services. The Company does not expect any material losses related to such representations and warranties, or collateral arrangements.
The Company’s business process outsourcing and mutual fund processing services are performed by Broadridge Business Process Outsourcing, LLC (“BBPO”), an indirect subsidiary, which is a broker-dealer registered with the SEC and a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”). Although BBPO’s FINRA membership agreement allows it to engage in clearing and the retailing of corporate securities in addition to mutual fund retailing on a wire order basis, BBPO does not clear customer transactions, process any retail business or carry customer accounts. As a registered broker-dealer and member of FINRA, BBPO is subject to the Uniform Net Capital Rule 15c3-1 of the Securities Exchange Act of 1934, as amended, which requires BBPO to maintain a minimum net capital amount. At March 31, 2026, BBPO was in compliance with this net capital requirement. BBPO, as a participant of the Depository Trust Company (“DTC”), is also subject to DTC Section 1.B.iii which requires BBPO to maintain a minimum excess net capital amount. At March 31, 2026, BBPO was in compliance with this excess net capital requirement.
In addition, Matrix Trust Company, a subsidiary of the Company, is a Colorado State non-depository trust company and National Securities Clearing Corporation trust member, whose primary business is to provide cash agent, custodial and directed trustee services to institutional customers, and investment management services to collective investment trust funds. As a result, Matrix Trust Company is subject to various regulatory capital requirements administered by the Colorado Division of Banking and the Arizona Department of Financial Institutions, as well as the National Securities Clearing Corporation. Specific capital requirements that involve quantitative measures of assets, liabilities, and certain off-balance sheet items, when applicable, must be met. At March 31, 2026, Matrix Trust Company was in compliance with its capital requirements.
30
Table of Contents
NOTE 16. CHANGES IN ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) BY COMPONENT
The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income/(loss) for the three and nine months ended March 31, 2026, and 2025, respectively:
Foreign
Currency
Translation		Pension
and Post-
Retirement
Liabilities		Cash Flow HedgeTotal
(in millions)
Balances at December 31, 2025$(190.2)$(4.2)$(4.5)$(198.9)
Other comprehensive income before reclassifications(46.1)— — (46.1)
Amounts reclassified from accumulated other comprehensive income
— 0.1 0.2 0.3 
Balances at March 31, 2026
$(236.3)$(4.2)$(4.3)$(244.8)
Foreign
Currency
Translation		Pension
and Post-
Retirement
Liabilities		Cash Flow HedgeTotal
(in millions)
Balances at June 30, 2025
$(263.6)$(4.4)$(4.9)$(272.9)
Other comprehensive income before reclassifications27.3 — — 27.3 
Amounts reclassified from accumulated other comprehensive income
— 0.2 0.6 0.8 
Balances at March 31, 2026
$(236.3)$(4.2)$(4.3)$(244.8)
Foreign
Currency
Translation		Pension
and Post-
Retirement
Liabilities		Cash Flow HedgeTotal
(in millions)
Balances at December 31, 2024$(340.3)$(5.5)$(5.3)$(351.1)
Other comprehensive income before reclassifications(26.7)— — (26.7)
Amounts reclassified from accumulated other comprehensive income
— 0.1 0.2 0.3 
Balances at March 31, 2025
$(367.0)$(5.4)$(5.1)$(377.5)
Foreign
Currency
Translation		Pension
and Post-
Retirement
Liabilities		Cash Flow HedgeTotal
(in millions)
Balances at June 30, 2024
$(320.3)$(5.7)$(5.7)$(331.7)
Other comprehensive income before reclassifications(46.7)— — (46.7)
Amounts reclassified from accumulated other comprehensive income
— 0.3 0.6 0.9 
Balances at March 31, 2025
$(367.0)$(5.4)$(5.1)$(377.5)
NOTE 17. INTERIM FINANCIAL DATA BY SEGMENT
The Company operates in two reportable segments: Investor Communication Solutions and Global Technology and Operations. See Note 1, “Basis of Presentation” for a further description of the Company’s reportable segments.
The Company’s chief operating decision maker is the Chief Executive Officer (“CEO”). The chief operating decision maker utilizes earnings before income taxes, to make decisions on resource allocation, including investment of profits, potential acquisitions, or return of capital. The chief operating decision maker does not review assets and capital expenditures in evaluating the results of the Company’s segments, therefore such information is not presented.

31
Table of Contents
Investor
Communication
Solutions (a), (b)		Global
Technology and
Operations (a), (b)		Total Reportable SegmentsCorporate and Other (c)Total
 (in millions)
Three months ended March 31, 2026
Revenues$1,465.3 $488.3 $1,953.6 $— $1,953.6 
Depreciation and amortization12.1 11.4 23.5 12.235.6 
Amortization of acquired intangibles11.1 41.7 52.8 — 52.8 
Amortization of other assets8.6 27.4 36.1 5.541.6 
Other direct expenses1,035.9 289.0 1,324.9 158.0 1,483.0 
Other segment items88.0 33.4 121.4 (121.4)— 
Earnings (loss) before income taxes$309.5 $85.4 $394.9 $(54.3)$340.6 
Nine months ended March 31, 2026
Revenues$3,828.5 $1,428.4 $5,256.9 $— $5,256.9 
Depreciation and amortization35.5 36.2 71.8 29.8101.6 
Amortization of acquired intangibles31.5 123.8 155.2 — 155.2 
Amortization of other assets28.8 80.7 109.5 16.7126.2 
Other direct expenses2,878.0 851.6 3,729.6 220.3 3,949.9 
Other segment items282.1 105.7 387.8 (387.8)— 
Earnings (loss) before income taxes$572.7 $230.3 $803.0 $121.0 $923.9 

Investor
Communication
Solutions (a), (b)		Global
Technology and
Operations (a), (b)		Total Reportable SegmentsCorporate and Other (c)Total
 (in millions)
Three months ended March 31, 2025
Revenues$1,347.5 $464.1 $1,811.7 $— $1,811.7 
Depreciation and amortization11.4 13.3 24.7 7.932.6 
Amortization of acquired intangibles10.6 38.3 48.9 — 48.9 
Amortization of other assets9.5 28.2 37.7 4.442.1 
Other direct expenses948.3 275.7 1,224.0 153.0 1,377.1 
Other segment items74.8 38.2 112.9 (112.9)— 
Earnings (loss) before income taxes$292.9 $70.4 $363.3 $(52.4)$310.9 
Nine months ended March 31, 2025
Revenues$3,512.3 $1,311.4 $4,823.7 $— $4,823.7 
Depreciation and amortization33.6 39.4 73.1 24.697.6 
Amortization of acquired intangibles33.1 113.5 146.6 — 146.6 
Amortization of other assets29.5 85.4 114.9 13.1128.0 
Other direct expenses2,635.0 796.2 3,431.1 433.1 3,864.2 
Other segment items217.6 109.4 326.9 (326.9)— 
Earnings (loss) before income taxes$563.5 $167.5 $731.0 $(143.8)$587.2 

(a)Other direct expenses included in the Segment earnings (loss) before income taxes include interest, distribution, labor, lease, data center, and other expenses that are directly incurred by the segment.
(b)Other segment items include expenses related to centrally managed activities that are allocated to the reportable segments based on usage and other factors.
32
Table of Contents
(c)The primary components of “Corporate and Other” are certain gains, losses, centrally managed activities, and non-operating expenses that have not been allocated to the reportable segments, such as interest expense, and for fiscal year 2026, the unrealized and realized gains or losses, as applicable, on the Company’s digital asset holdings as a result of the quarterly mark to market to remeasure the digital assets to fair market value and gains or losses upon sale, in addition to the realized and unrealized gains or losses associated with the Company’s contribution of Canton Coins to CNTN and the associated mark to market gain or loss recorded to remeasure the previously held Digital Asset Loan Receivable and warrants to fair market value. Refer to Note 1, “Basis of Presentation” for further details. Refer to Note 7, “Fair Value of Financial Instruments” for details related to realized and unrealized gains or losses.
NOTE 18. SUBSEQUENT EVENT

On April 30, 2026, the Company completed the acquisition of CQG, Inc. (“CQG”). CQG is a Denver-based execution management system provider to futures and options market participants. The total purchase price was approximately $173.0 million plus additional contingent consideration. CQG will be included in the Company’s GTO reportable segment.


33
Table of Contents
Item 2.    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following discussion should be read in conjunction with our Condensed Consolidated Financial Statements and accompanying Notes thereto included elsewhere herein. Certain information contained in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words such as “expects,” “assumes,” “projects,” “anticipates,” “estimates,” “we believe,” “could be,” “on track” and other words of similar meaning, are forward-looking statements. These statements are based on management’s expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Our actual results, performance or achievements may differ materially from the results discussed in this Item 2. because of various factors, including those set forth elsewhere herein. See “Note about forward-looking statements” and “Risk Factors” included in this Quarterly Report on Form 10-Q.
Overview
Broadridge, a Delaware corporation, 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 services include investor communications, securities processing, data and analytics, and customer communications solutions. With over 60 years of experience, including over 15 years as an independent public company, we provide integrated solutions and an important infrastructure that powers the financial services industry. 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. Our businesses operate in two reportable segments: Investor Communication Solutions (“ICS”) and Global Technology and Operations (“GTO”).
ACQUISITIONS
We frequently review our businesses to ensure we have the necessary assets to execute our strategy. We expect to acquire businesses when we identify a compelling strategic need, such as a product, service or technology that helps meet client demand, a way to achieve business scale that enables competition and operational efficiency, or similar considerations. The results of operations for acquired businesses are included in our consolidated results from the respective dates of acquisition.
Acquisitions of Businesses
In January 2026, the Company acquired Acolin Group Holdco Limited (“Acolin”). Acolin is a European provider of cross-border fund distribution and regulatory services. Acolin is included in the Company’s ICS reportable segment.
In September 2025, the Company acquired LDI-MAP, LLC (“iJoin”), a retirement plan technology provider specializing in participant onboarding, engagement, and analytics solutions for the retirement industry. iJoin is included in the Company’s ICS reportable segment.
In August 2025, the Company acquired Signal Agency Ltd. (“Signal”), a UK-based provider of design, technology and consulting services that support omni-channel communications for financial services and other firms. Signal is included in the Company’s ICS reportable segment.
We acquired these three businesses for an aggregate purchase price of $155.1 million, net of cash acquired.
Investor Communication Solutions
We provide the following governance and communications solutions through our Investor Communication Solutions business segment: Regulatory Solutions, Data-Driven Fund Solutions, Corporate Issuer Solutions, and Customer Communications Solutions.
A large portion of our Investor Communication Solutions business involves the processing and distribution of proxy materials to investors in equity securities and mutual funds, as well as the facilitation of related vote processing. In addition to proxy services, Broadridge also provides regulatory communications solutions that enable global asset managers to communicate with large audiences of investors efficiently and reliably by centralizing all investor communications through one resource. Through its Fund Communication Solutions business, Broadridge provides fund managers with a single, integrated provider to manage data, perform calculations, compose documents, manage regulatory compliance, and disseminate information across multiple jurisdictions. Broadridge also provides a range of other regulatory communications solutions, including reorganization communications notifying investors of U.S. reorganizations or corporate action events such as tender offers, mergers and acquisitions, bankruptcies, and global class action services for the identification, filing and recovery of class actions and collective redress proceedings involving securities and other financial products.
34
Table of Contents
For asset managers and retirement service providers, we offer data-driven solutions and an end-to-end platform for content management, composition, and omni-channel distribution of regulatory, marketing, and transactional information. Our data and analytics solutions provide investment product distribution data, analytical tools, insights, and research to enable asset managers to optimize product distribution across retail and institutional channels globally. We also provide fiduciary-focused learning and development, software and technology, and data and analytics services to advisors, institutions and asset managers across the retirement and wealth ecosystem. Through our Retirement and Workplace business (“Broadridge Retirement and Workplace”), we provide automated mutual fund and exchange-traded funds trade processing services for financial institutions who submit trades on behalf of their clients such as qualified and non-qualified retirement plans and individual wealth accounts. In addition, our marketing and transactional communications solutions provide a content management and omni-channel distribution platform for marketing and sales communications for asset managers, insurance providers and retirement service providers.
In addition, we provide a range of corporate solutions that revolve around shareholder meetings and proxy, corporate governance and sustainability, regulatory filings and disclosure, and stock transfer services. Our services provide corporate issuers a single source solution that spans the entire corporate disclosure and shareholder communications and corporate disclosure lifecycle. Our shareholder meetings and proxy services and corporate governance and sustainability governance and communications services include a full suite of annual meeting and shareholder engagement solutions which include proxy services, virtual shareholder meeting services, shareholder engagement, and governance and sustainability services. We also offer regulatory filings and disclosure solutions, including annual SEC filing services and capital markets transaction services, and provides registrar, stock transfer and record-keeping services through its transfer agency services.
We provide omni-channel customer communications solutions, that include print and digital solutions, to modernize technology infrastructures, simplify communications processes, accelerate digital adoption and improve the customer experience. Through one point of integration, the Broadridge Communications CloudSM platform helps companies create, deliver, and manage their communications and customer engagement. The platform includes data-driven composition tools, identity and preference management, omni-channel optimization and digital communication experience, archive and information management, digital and print delivery, and analytics and reporting tools.
Global Technology and Operations
Our Global Technology and Operations business provides mission-critical, scale infrastructure to the global financial markets. 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. Our highly scalable, resilient, component-based platform automate the front-to-back transaction lifecycle of equity, mutual fund, fixed income, foreign exchange and exchange-traded derivatives, from order capture and execution through trade confirmation, margin, cash management, clearing and settlement, reference data management, reconciliations, securities financing and collateral management, asset servicing, compliance and regulatory reporting, portfolio accounting and custody-related services. Our Wealth Management business provides solutions for advisors and investors and also streamlines back and middle-office operations for broker-dealers by providing systems for critical post-trade activities, including books and records, transaction processing, clearance and settlement, and reporting. Our Investment Management business provides portfolio and order management solutions for traditional and alternative asset managers, which bring insights into trading, portfolio construction, risk and analytics. Our solutions connect asset managers to a global network of broker-dealers for trade execution and post-trade matching and confirmation. In addition, we provide business process outsourcing services for its buy and sell-side clients’ businesses. These services combine Broadridge’s technology with its operations expertise to support the entire trade lifecycle, including securities clearing and settlement, reconciliations, record-keeping, wealth management asset servicing, and custody-related functions.
For capital markets firms, we provide a set of multi-asset, multi-entity, and multi-currency post-trade and trading and connectivity solutions that support processing of securities transactions in equities, options, fixed income securities, foreign exchange, exchange-traded derivatives, and mutual funds. Largely provided on a SaaS basis within large user communities, our technology is a global solution, processing trades, clearance and settlement in over 90 markets. Our solutions enable global capital markets firms to access market liquidity, drive more effective market making and efficient front-to-back trade processing. Through Broadridge Trading and Connectivity Solutions, we offer a set of global front-office trade order and execution management systems and connectivity solutions that enable market participants to connect and trade. The combination of the front-office solutions from the 2021 acquisition of Itiviti Holding AB (“Itiviti”) and our post-trade product suite and other capital markets capabilities enables our clients to streamline their front-to-back technology platforms and operations and increase straight-through-processing efficiencies, across equities, fixed income, exchange-traded derivatives, and other asset classes.
35
Table of Contents
Our Wealth Management business delivers front-to-back technology solutions and other capabilities across the entire wealth management lifecycle and streamlines all aspects of wealth management services, including account management, fee management and client on-boarding. The wealth technology solutions enable full-service, regional and independent broker-dealers and investment advisors to better engage with customers through digital marketing and customer communications tools. We also integrate data, content and technology to drive new customer acquisition, support holistic and personalized advice and cross-sell opportunities. Our advisor solutions help advisors optimize their practice management through customer and account data aggregation and reporting.
Our Investment Management business services the global investment management industry with a range of buy-side technology solutions such as portfolio management, compliance and fee billing and operational support solutions for hedge funds, family offices, alternative asset managers, traditional asset managers and the providers that service this space including prime brokers, fund administrators and custodians.
Consolidation and Basis of Presentation
The Condensed Consolidated Financial Statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America (“U.S.”). These Condensed Consolidated Financial Statements present the condensed consolidated position of the Company and include the entities in which the Company directly or indirectly has a controlling financial interest as well as various entities in which the Company has investments recorded under the equity method of accounting as well as certain marketable and non-marketable securities. Intercompany balances and transactions have been eliminated. Amounts presented may not sum due to rounding.
The results of operations reported for interim periods are not necessarily indicative of the results of operations for the entire year or any subsequent interim period. These Condensed Consolidated Financial Statements should be read in conjunction with the Company’s Consolidated Financial Statements for the fiscal year ended June 30, 2025 in the 2025 Annual Report.
Critical Accounting Estimates
In presenting the Condensed Consolidated Financial Statements, management makes estimates and assumptions that affect the amounts reported and related disclosures. Management continually evaluates the accounting policies and estimates used to prepare the Condensed Consolidated Financial Statements. The estimates, by their nature, are based on judgment, available information, and historical experience and are believed to be reasonable. However, actual amounts and results could differ from these estimates made by management. In management’s opinion, the Condensed Consolidated Financial Statements contain all normal recurring adjustments necessary for a fair presentation of results reported. The results of operations reported for the periods presented are not necessarily indicative of the results of operations for subsequent periods. Certain accounting policies that require significant management estimates and are deemed critical to our results of operations or financial position are discussed in the “Critical Accounting Policies” section of Part II, Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the 2025 Annual Report.
KEY PERFORMANCE INDICATORS
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”) of Adjusted Operating income, Adjusted Net earnings, Adjusted earnings per share, Free cash flow, Recurring revenue growth constant currency, and Closed sales. In addition, management focuses on select operating metrics specific to Broadridge of Position Growth and Internal Trade Growth, as defined below.
Refer to the section “Explanation and Reconciliation of the Company’s Use of Non-GAAP Financial Measures” for a reconciliation of Adjusted Operating income, Adjusted Net earnings, Adjusted earnings per share, Free cash flow and Recurring revenue growth constant currency to the most directly comparable GAAP measures, and an explanation for why these Non-GAAP metrics provide useful information to investors and how management uses these Non-GAAP metrics for operational and financial decision-making. Refer to the section “Results of Operations” for a description of Closed sales and an explanation of why Closed sales is a useful performance metric for management and investors.
36
Table of Contents
Revenues
Revenues are primarily generated from fees for processing and distributing investor communications and fees for technology-enabled services and solutions. The Company monitors revenue in each of our two reportable segments as a key measure of success in addressing our clients’ needs. Revenues from fees are derived from both recurring and event-driven activity. The level of recurring and event-driven activity the Company processes directly impacts distribution revenues. While event-driven activity is highly repeatable, it may not recur on an annual basis. Event-driven revenues are based on the number of special events and corporate transactions the Company processes. Event-driven activity is impacted by financial market conditions and changes in regulatory compliance requirements, resulting in fluctuations in the timing and levels of event-driven revenues. Distribution revenues primarily include revenues related to the physical mailing of proxy materials, interim communications, transaction reporting, customer communications and fulfillment services as well as Broadridge Retirement and Workplace administrative services.
Recurring revenue growth represents the Company’s total annual revenue growth, less growth from event-driven and distribution revenues. We distinguish recurring revenue growth between organic and acquired:
•Organic – We define organic revenue as the recurring revenue generated from Net New Business and Internal Growth.
•Acquired – We define acquired revenue as the recurring revenue generated from acquired services in the first twelve months following the date of acquisition. This type of growth comes as a result of our strategy to purchase, integrate, and leverage the value of assets we acquire.
Revenue and Recurring revenue are useful metrics for investors in understanding how management measures and evaluates the Company’s ongoing operational performance. See “Results of Operations” as well as Note 3, “Revenue Recognition” to our Condensed Consolidated Financial Statements in this Form 10-Q.
Position Growth and Internal Trade Growth
The Company uses select operating metrics specific to Broadridge of Position Growth and Internal Trade Growth in evaluating its business results and identifying trends affecting its business. Position Growth is comprised of “equity position growth” and “mutual fund/ETF position growth.” Equity position growth measures the estimated annual change in positions eligible for equity proxy materials. Beginning in the fourth quarter of fiscal year 2025, the Company began presenting information on “equity revenue position growth.” Equity revenue position growth excludes small or fractional equity positions for which the Company does not recognize revenue (“non-revenue positions”). Prior period comparative information for this metric is not available. Mutual fund/ETF position growth measures the estimated change in mutual fund and exchange traded fund positions eligible for interim communications. These metrics are calculated from equity proxy and mutual fund/ETF position data reported to Broadridge for the same issuers or funds in both the current and prior year periods.
Internal Trade Growth represents the estimated change in daily average trade volumes for Broadridge securities processing clients whose contracts are linked to trade volumes and who were on Broadridge’s trading platforms in both the current and prior year periods. Position Growth and Internal Trade Growth are useful non-financial metrics for investors in understanding how management measures and evaluates Broadridge’s ongoing operational performance within its Investor Communication Solutions and Global Technology and Operations reportable segments, respectively.
The key performance indicators for the three and nine months ended March 31, 2026, and 2025, are as follows:
Select Operating Metrics
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
Position Growth
   Equity positions15 %15 %16 %13 %
   Equity revenue positions11 %N/A11 %N/A
   Mutual fund / ETF positions6 %6 %7 %6 %
Internal Trade Growth16 %14 %15 %13 %

37
Table of Contents
Results of Operations
The following discussions of Analysis of Condensed Consolidated Statements of Earnings and Analysis of Reportable Segments refer to the three and nine months ended March 31, 2026 compared to the three and nine months ended March 31, 2025. The Analysis of Condensed Consolidated Statements of Earnings should be read in conjunction with the Analysis of Reportable Segments, which provides a more detailed discussion concerning certain components of the Condensed Consolidated Statements of Earnings.
The following references are utilized in the discussions of Analysis of Condensed Consolidated Statements of Earnings and Analysis of Reportable Segments:
“Amortization of Acquired Intangibles and Purchased Intellectual Property” and “Acquisition and Integration Costs” represent certain non-cash amortization expenses associated with acquired intangible assets and purchased intellectual property assets, as well as certain transaction and integration costs associated with the Company’s acquisition activities, respectively.
“Restructuring and Other Related Costs” represent costs associated with the Company’s corporate restructuring initiative (the “Corporate Restructuring Initiative”) to exit and/or realign some of our businesses, streamline the Company’s management structure, reallocate work to lower cost locations, and reduce headcount in deprioritized areas, in addition to other restructuring activities.
“Net New Business” refers to recurring revenue from Closed sales for the initial twelve-month contract period after which the client goes live with the Company’s service(s), less recurring revenue from client losses.
“Internal Growth” is a component of recurring revenue and generally reflects year over year changes in existing services to our existing customers’ multi-year contracts beyond the initial twelve month period in which it was included in Net New Business.
“Recurring revenue growth constant currency” refers to our Recurring revenue growth presented on a constant currency basis to exclude the impact of foreign currency exchange fluctuations.
The following definitions describe the Company’s Revenues:
Revenues in the Investor Communication Solutions segment are derived from both recurring and event-driven activity, in addition to distribution revenues. The level of recurring and event-driven activity we process directly impacts distribution revenues. While event-driven activity is highly repeatable, it may not recur on an annual basis. The types of services we provide that comprise event-driven activity are:
•Mutual Fund Proxy: The proxy and related services we provide to mutual funds when certain events occur requiring a shareholder vote including changes in directors, sub-advisors, fee structures, investment restrictions, and mergers of funds.
•Mutual Fund Communications: Mutual fund communications services consist primarily of the distribution on behalf of mutual funds of supplemental information required to be provided to the annual mutual fund prospectus as a result of certain triggering events such as a change in portfolio managers. In addition, mutual fund communications consist of notices and marketing materials such as newsletters.
•Equity Proxy Contests and Specials, Corporate Actions, and Other: The proxy services we provide in connection with shareholder meetings driven by special events such as proxy contests, mergers and acquisitions, and tender/exchange offers.
Event-driven revenues are based on the number of special events and corporate transactions we process. Event-driven activity is impacted by financial market conditions and changes in regulatory compliance requirements, resulting in fluctuations in the timing and levels of event-driven revenues. As such, the timing and level of event-driven activity and its potential impact on revenues and earnings are difficult to forecast.
Generally, mutual fund proxy activity has been subject to a greater level of volatility than the other components of event-driven activity. For the nine months ended March 31, 2026, mutual fund proxy revenues were 7% higher compared to the nine months ended March 31, 2025. During fiscal year 2025, mutual fund proxy revenues were 75% higher than the prior fiscal year. Although it is difficult to forecast the levels of event-driven activity, we expect that the portion of revenues derived from mutual fund proxy activity may continue to experience volatility in the future.
Distribution revenues primarily include revenues related to the physical mailing of proxy materials, interim communications, transaction reporting, customer communications and fulfillment services, as well as Broadridge Retirement and Workplace administrative services.
38
Table of Contents
Distribution cost of revenues consists primarily of postage-related expenses incurred in connection with our Investor Communication Solutions segment, as well as Broadridge Retirement and Workplace administrative services expenses. These costs are reflected in Cost of revenues.
Closed sales represent an estimate of the expected annual recurring revenue for new client contracts that were signed by Broadridge in the current reporting period. Closed sales does not include event-driven or distribution activity. We consider contract terms, expected client volumes or activity, knowledge of the marketplace and experience with our clients, among other factors, when determining the estimate. Management uses Closed sales to measure the effectiveness of our sales and marketing programs, as an indicator of expected future revenues and as a performance metric in determining incentive compensation.
Closed sales is not a measure of financial performance under GAAP, and should not be considered in isolation or as a substitute for revenue or other income statement data prepared in accordance with GAAP. Closed sales is a useful metric for investors in understanding how management measures and evaluates our ongoing operational performance.
The inherent variability of transaction volumes and activity levels can result in some variability of amounts reported as actual achieved Closed sales. Larger Closed sales can take up to 12 to 24 months or longer to convert to revenues, particularly for the services provided by our Global Technology and Operations segment. For the three and nine months ended March 31, 2026 and for the fiscal year ended June 30, 2025, we reported Closed sales net of a 5.0% allowance adjustment. Consequently, our reported Closed sales amounts will not be adjusted for actual revenues achieved because these adjustments are estimated in the period the sale is reported. We assess this allowance amount at the end of each fiscal year to establish the appropriate allowance for the subsequent year using the trailing five years actual data as the starting point, normalized for outlying factors, if any, to enhance the accuracy of the allowance.
Closed sales for the three months ended March 31, 2026 were $57.5 million, a decrease of $13.6 million, or 19%, compared to $71.2 million for the three months ended March 31, 2025. Closed sales for the three months ended March 31, 2026 and March 31, 2025 are net of an allowance adjustment of $3.0 million and $3.7 million, respectively.
Closed sales for the nine months ended March 31, 2026 were $146.8 million, a decrease of $27.5 million, or 16%, compared to $174.3 million for the nine months ended March 31, 2025. Closed sales for the nine months ended March 31, 2026 and March 31, 2025 are net of an allowance adjustment of $7.7 million and $9.2 million, respectively.
39
Table of Contents
Analysis of Condensed Consolidated Statements of Earnings
Three Months Ended March 31, 2026 versus Three Months Ended March 31, 2025
The table below presents Condensed Consolidated Statements of Earnings data for the three months ended March 31, 2026 and 2025, and the dollar and percentage changes between periods:
Three Months Ended 
 March 31,
Change
20262025$%
(in millions, except per share amounts)
Revenues$1,953.6 $1,811.7 $141.9 8 
  Cost of revenues1,326.7 1,235.9 90.8 7 
  Selling, general and administrative expenses267.4 230.9 36.5 16 
       Total operating expenses1,594.1 1,466.8 127.3 9 
Operating income359.5 344.9 14.6 4 
Margin18.4%19.0%
Interest expense, net(25.1)(31.1)6.1 (19)
Other non-operating income (expenses), net6.2 (2.8)9.0 NM
Earnings before income taxes340.6 310.9 29.7 10 
Provision for income taxes64.3 67.8 (3.5)(5)
Effective tax rate18.9%21.8%
Net earnings$276.3 $243.1 $33.2 14 
Basic earnings per share$2.38 $2.07 $0.31 15 
Diluted earnings per share$2.36 $2.05 $0.31 15 
Weighted-average shares outstanding:
    Basic116.3 117.2 
    Diluted117.0 118.5 
_____________
NM - Not Meaningful
40
Table of Contents
Revenues
The table below presents Condensed Consolidated Statements of Earnings data for the three months ended March 31, 2026 and 2025, and the dollar and percentage changes between periods:
Three Months Ended 
 March 31,
Change
20262025$%
($ in millions)
Recurring revenues$1,288.1 $1,203.9 $84.2 7 
Event-driven revenues72.7 52.7 19.9 38 
Distribution revenues592.8 555.0 37.8 7 
       Total$1,953.6 $1,811.7 $141.9 8 
Points of Growth
Net New BusinessInternal GrowthAcquisitionsForeign ExchangeTotal
Recurring revenue Growth Drivers2pts3pts1pt1pt7 %
Revenues increased $141.9 million, or 8%, to $1,953.6 million from $1,811.7 million.
•Recurring revenues increased $84.2 million, or 7%, to $1,288.1 million. Recurring revenue growth constant currency (Non-GAAP) was 6%, driven by organic growth in ICS and GTO and acquisitions in ICS.
•Event-driven revenues increased $19.9 million, or 38%, from a combination of higher mutual fund proxy revenues and higher equity and other revenues.
•Distribution revenues increased $37.8 million, or 7%, driven primarily by the postage rate increase of approximately $34 million.
Total operating expenses. Operating expenses increased $127.3 million, or 9%, to $1,594.1 million from $1,466.8 million:
•Cost of revenues - the increase of $90.8 million primarily reflects higher expenses in our ICS segment, primarily driven by an increase in postage and distribution expenses of approximately $43 million and higher labor and technology expenses.
•Selling, general and administrative expenses - the increase of $36.5 million was primarily driven by the impact of acquisitions and higher compensation expenses primarily related to investments.
Interest expense, net. Interest expense, net was $25.1 million, a decrease of $6.1 million, from $31.1 million for the three months ended March 31, 2025. The decrease was primarily due to lower average borrowings and lower borrowing costs.
Other non-operating income (expenses), net. Other non-operating income, net for the three months ended March 31, 2026 was $6.2 million, compared to Other non-operating expenses, net $2.8 million for the three months ended March 31, 2025.
Provision for income taxes.
•Effective tax rate for the three months ended March 31, 2026: 18.9%
•Effective tax rate for the three months ended March 31, 2025: 21.8%
The decrease in the effective tax rate for the three months ended March 31, 2026 was primarily driven by an increase in discrete tax benefits.
41
Table of Contents
Nine Months Ended March 31, 2026 versus Nine Months Ended March 31, 2025
The table below presents Condensed Consolidated Statements of Earnings data for the nine months ended March 31, 2026 and 2025, and the dollar and percentage changes between periods:
Nine Months Ended 
 March 31,
Change
20262025$%
(in millions, except per share amounts)
Revenues$5,256.9 $4,823.7 $433.2 9 
  Cost of revenues3,733.8 3,456.7 277.1 8 
  Selling, general and administrative expenses768.8 677.1 91.8 14 
       Total operating expenses4,502.6 4,133.8 368.8 9 
Operating income754.3 689.9 64.4 9 
Margin14.3%14.3%
Interest expense, net(73.1)(96.1)23.1 (24)
Other non-operating income (expenses), net242.7 (6.6)249.3 NM
Earnings before income taxes923.9 587.2 336.7 57 
Provision for income taxes197.7 121.9 75.7 62 
Effective tax rate21.4%20.8%
Net earnings$726.2 $465.3 $261.0 56 
Basic earnings per share$6.22 $3.97 $2.25 57 
Diluted earnings per share$6.18 $3.93 $2.25 57 
Weighted-average shares outstanding:
    Basic116.7 117.1 
    Diluted117.6 118.3 
_____________
NM - Not Meaningful
42
Table of Contents
Revenues
The table below presents Condensed Consolidated Statements of Earnings data for the nine months ended March 31, 2026 and 2025, and the dollar and percentage changes between periods:
Nine Months Ended 
 March 31,
Change
20262025$%
($ in millions)
Recurring revenues$3,335.7 $3,084.3 $251.4 8 
Event-driven revenues277.0 240.3 36.7 15 
Distribution revenues1,644.2 1,499.0 145.1 10 
       Total$5,256.9 $4,823.7 $433.2 9 
Points of Growth
Net New BusinessInternal GrowthAcquisitionsForeign ExchangeTotal
Recurring revenue Growth Drivers3pts3pts2pts1pt8 %
Revenues increased $433.2 million, or 9%, to $5,256.9 million from $4,823.7 million.
•Recurring revenues increased $251.4 million, or 8%, to $3,335.7 million. Recurring revenue growth constant currency (Non-GAAP) was 7%, driven by organic growth and acquisitions in ICS and GTO.
•Event-driven revenues increased $36.7 million, or 15%, driven by a higher equity and other communications, as well as mutual fund proxy revenues.
•Distribution revenues increased $145.1 million, or 10%, primarily driven by the postage rate increases of approximately $91 million and higher volumes.
Total operating expenses. Operating expenses increased $368.8 million, or 9%, to $4,502.6 million from $4,133.8 million:
•Cost of revenues - the increase of $277.1 million primarily reflects higher expenses, including postage and distribution costs in our ICS segment of approximately $144 million, higher labor and technology expenses and higher expenses related to the SIS acquisition.
•Selling, general and administrative expenses - the increase of $91.8 million was primarily driven by higher technology investments and compensation-related expenses.
Interest expense, net. Interest expense, net was $73.1 million, a decrease of $23.1 million, from $96.1 million for the nine months ended March 31, 2025. The decrease of $23.1 million was primarily due to lower average borrowings and lower borrowing costs.
Other non-operating income (expenses), net. Other non-operating income, net for the nine months ended March 31, 2026 was $242.7 million, compared to Other non-operating expenses, net $6.6 million for the nine months ended March 31, 2025, primarily as a result of realized and unrealized gains and losses on digital assets, the previously held Digital Asset Loan Receivable, and the pre-funded common stock purchase warrants (the “Warrants”) related to the Canton Digital Asset Treasury of $243.6 million in the current year period. Refer to Note 7, “Fair Value of Financial Instruments” for details related to the Company’s Canton Coin holdings and the Canton Digital Asset Treasury.
Provision for income taxes.
•Effective tax rate for the nine months ended March 31, 2026: 21.4%
•Effective tax rate for the nine months ended March 31, 2025: 20.8%
The increase in the effective tax rate for the nine months ended March 31, 2026 was primarily driven by an increase in pre-tax income relative to total discrete tax benefits.

43
Table of Contents
Analysis of Reportable Segments
Broadridge has two reportable segments: (1) Investor Communication Solutions and (2) Global Technology and Operations.
The primary component of “Corporate and Other” are certain gains, losses, corporate overhead expenses and non-operating expenses that have not been allocated to the reportable segments, such as interest expense.
Certain corporate expenses, as well as certain centrally managed expenses, are allocated based upon budgeted amounts in a reasonable manner. Because the Company compensates the management of its various businesses on, among other factors, segment profit, the Company may elect to record certain segment-related operating and non-operating expense items in Other rather than reflect such items in segment profit.
Revenues
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
ChangeChange
20262025$%20262025$%
($ in millions)($ in millions)
Investor Communication Solutions$1,465.3 $1,347.5 $117.7 9 $3,828.5 $3,512.3 $316.1 9 
Global Technology and Operations488.3 464.1 24.2 5 1,428.4 1,311.4 117.1 9 
       Total$1,953.6 $1,811.7 $141.9 8 $5,256.9 $4,823.7 $433.2 9 
Earnings Before Income Taxes
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
ChangeChange
20262025$%20262025$%
($ in millions)($ in millions)
Investor Communication Solutions$309.5 $292.9 $16.6 6 $572.7 $563.5 $9.2 2 
Global Technology and Operations85.4 70.4 15.0 21 230.3 167.5 62.8 37 
Corporate and Other(54.3)(52.4)(1.9)4 121.0 (143.8)264.7 NM
       Total$340.6 $310.9 $29.7 10 $923.9 $587.2 $336.7 57 
_____________
NM - Not Meaningful
The amount of amortization of acquired intangibles and purchased intellectual property by segment is as follows:
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
ChangeChange
20262025$%20262025$%
($ in millions)($ in millions)
Investor Communication Solutions$11.1 $10.6 $0.5 5 $31.5 $33.1 $(1.7)(5)
Global Technology and Operations41.7 38.3 3.4 9 123.8 113.5 10.3 9 
       Total$52.8 $48.9 $3.9 8 $155.2 $146.6 $8.6 6 



44
Table of Contents
Investor Communication Solutions
Revenues for the three months ended March 31, 2026 increased $117.7 million to $1,465.3 million from $1,347.5 million, and earnings before income taxes increased $16.6 million to $309.5 million from $292.9 million.
Revenues for the nine months ended March 31, 2026 increased $316.1 million to $3,828.5 million from $3,512.3 million, and earnings before income taxes increased $9.2 million to $572.7 million from $563.5 million.
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
ChangeChange
20262025$%20262025$%
($ in millions)($ in millions)
Revenues
Recurring revenues$799.8$739.8$60.0 8 $1,907.3$1,773.0$134.3 8 
Event-driven revenues72.752.719.9 38 277.0240.336.7 15 
Distribution revenues592.8555.037.8 7 1,644.21,499.0145.1 10 
       Total$1,465.3$1,347.5$117.7 9 $3,828.5$3,512.3$316.1 9 
Earnings Before Income Taxes
Earnings before income taxes$309.5$292.9$16.6 6 $572.7$563.5$9.2 2 
Pre-tax Margin21.1 %21.7 %15.0 %16.0 %
Three Months Ended March 31, 2026
Points of Growth
Net New BusinessInternal GrowthAcquisitionsForeign ExchangeTotal
Recurring revenue Growth Drivers2pts4pts1pt0pts8 %
Nine Months Ended March 31, 2026
Points of Growth
Net New BusinessInternal GrowthAcquisitionsForeign ExchangeTotal
Recurring revenue Growth Drivers3pts3pts1pt0pts8 %
For the three months ended March 31, 2026:
•Recurring revenues increased $60.0 million, or 8%, to $799.8 million. Recurring revenue growth constant currency (Non-GAAP) was 8%, driven by 4pts of Internal Growth, 2pts of Net New Business, and 1pt from acquisitions.
•By product line, Recurring revenue growth and Recurring revenue growth constant currency (Non-GAAP) were as follows:
◦Regulatory rose 9% and 9%, respectively. Equity revenue position growth was 11% and Mutual fund/ETF position growth was 6%.
◦Data-driven fund solutions increased 9% and 8%, respectively, driven by growth in data and analytics revenues and the acquisitions of Acolin and iJoin.
◦Issuer rose 8% and 8%, respectively, driven by growth in disclosure solutions and shareholder engagement solutions.
◦Customer communications rose 5% and 5%, respectively, driven by growth in digital revenues, as well as the acquisition of Signal.
•Event-driven revenues increased $19.9 million, or 38%, from a combination of higher mutual fund proxy revenues and higher equity and other revenues.
45
Table of Contents
•Distribution revenues increased $37.8 million, or 7%, driven primarily by the postage rate increase of approximately $34 million.
•Earnings before income taxes increased $16.6 million, or 6%, to $309.5 million, driven by higher Recurring revenue and Event-driven revenues. Operating expenses rose 10%, or $101.2 million to $1,155.8 million driven by distribution expenses, volume-related expenses and the impact of acquisitions and investments.
•Pre-tax margins decreased by 0.6% to 21.1% from 21.7%.
For the nine months ended March 31, 2026:
•Recurring revenues increased $134.3 million, or 8%, to $1,907.3 million. Recurring revenue growth constant currency (Non-GAAP) was 7%, driven by 3pts of Net New Business, 3pts of Internal Growth and 1pt from acquisitions.
•By product line, Recurring revenue growth and Recurring revenue growth constant currency (Non-GAAP) were as follows:
◦Regulatory rose 10% and 10%, respectively. Equity revenue position growth was 11% and Mutual fund/ETF position growth was 7%.
◦Data-driven fund solutions rose 4% and 3%, respectively, driven by growth in data and analytics revenues as well as the acquisitions of Acolin and iJoin.
◦Issuer rose 7% and 7%, respectively, driven by growth in shareholder engagement solutions and disclosure solutions.
◦Customer communications rose 6% and 6%, respectively, driven by growth in digital and print revenues, as well as the acquisition of Signal.
•Event-driven revenues increased $36.7 million, or 15%, driven by higher equity and other communications, as well as mutual fund proxy revenues.
•Distribution revenues increased $145.1 million, or 10%, primarily driven by the postage rate increases of approximately $91 million and higher volumes.
•Earnings before income taxes increased $9 million, or 2%, to $572.7 million. The earnings benefit from higher Recurring revenue and Event-driven revenue was partially offset by higher Operating expenses. Operating expenses rose 10%, or $306.9 million to $3,255.8 million driven by distribution expenses, as well as other volume-related expenses and the impact of acquisitions.
•Pre-tax margins decreased by 1.0% to 15.0% from 16.0%.
46
Table of Contents
Global Technology and Operations
Revenues for the three months ended March 31, 2026 increased $24.2 million to $488.3 million from $464.1 million, and Earnings before income taxes increased $15.0 million to $85.4 million from $70.4 million.
Revenues for the nine months ended March 31, 2026 increased $117.1 million to $1,428.4 million from $1,311.4 million, and Earnings before income taxes increased $62.8 million to $230.3 million from $167.5 million.
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
ChangeChange
20262025$%20262025$%
($ in millions)($ in millions)
Revenues
Recurring revenues$488.3$464.1$24.2 5 $1,428.4$1,311.4$117.1 9 
Earnings Before Income Taxes
Earnings before income taxes$85.4$70.4$15.0 21 $230.3$167.5$62.8 37 
Pre-tax Margin17.5 %15.2 %16.1 %12.8 %

Three Months Ended March 31, 2026
Points of Growth
Net New BusinessInternal GrowthAcquisitionsForeign ExchangeTotal
Recurring revenue Growth Drivers1pt1pt0pts3pts5 %

Nine Months Ended March 31, 2026
Points of Growth
Net New BusinessInternal GrowthAcquisitionsForeign ExchangeTotal
Recurring revenue Growth Drivers2pts3pts2pts2pts9 %

For the three months ended March 31, 2026:
•Recurring revenues increased $24.2 million, or 5%, to $488.3 million. Recurring revenue growth constant currency (Non-GAAP) was 3%, all organic.
•By product line, Recurring revenue growth and the corresponding Recurring revenue growth constant currency (Non-GAAP) were as follows:
◦Capital Markets rose 2% and (0%), respectively, driven by 4pts of revenue from new sales which was partially offset by a 3pt decrease in internal growth. The benefit of higher trading volumes was offset by lower software term license revenue, which negatively impacted growth by 6pts.
◦Wealth and Investment Management rose 10% and 8%, respectively, primarily driven by 8pts from internal growth, which benefitted from higher trading volumes.
•Earnings before income taxes increased $15.0 million, or 21%, to $85.4 million, as higher revenues more than offset higher expenses.
•Pre-tax margins increased by 2.3% to 17.5% from 15.2%.
For the nine months ended March 31, 2026:
•Recurring revenues increased $117.1 million, or 9%, to $1,428.4 million. Recurring revenue growth constant currency (Non-GAAP) was 7%, driven by 5pts of organic growth and 2pts from the acquisition of SIS.
47
Table of Contents
•By product line, Recurring revenue growth and the corresponding Recurring revenue growth constant currency (Non-GAAP) were as follows:
◦Capital Markets rose 6% and 4%, respectively, primarily driven by 4pts of revenue from new sales and 1pt of Internal Growth. Internal Growth included 2pts from digital asset revenues, offset by 2pts from lower software term license revenue.
◦Wealth and Investment Management rose 14% and 13%, respectively, driven by 7pts from the SIS acquisition and 7pts of organic growth.
•Earnings before income taxes increased $62.8 million, or 37%, to $230.3 million, as higher revenues more than offset higher expenses, including the impact of the SIS acquisition.
•Pre-tax margins increased by 3.3% to 16.1% from 12.8%.
Corporate and Other
Loss before income taxes was $54.3 million for the three months ended March 31, 2026, an increase of $1.9 million compared to Loss before income taxes of $52.4 million for the three months ended March 31, 2025.
•The increased Loss before income taxes was primarily due to higher technology spending, including the impact of investments, which more than offset a $6.1 million decline in Interest expense, net and realized and unrealized gains and losses on digital assets, the previously held Digital Asset Loan Receivable and the warrants related to the Canton Digital Asset Treasury of $5.6 million. Refer to Note 7, “Fair Value of Financial Instruments” for details related to the Company’s Canton Coin holdings and the Canton Digital Asset Treasury.
Earnings before income taxes were $121.0 million for the nine months ended March 31, 2026, an increase of $264.7 million compared to Loss before income taxes of $143.8 million for the three months ended March 31, 2025.
•The increased Earnings before income taxes was primarily due to realized and unrealized gains and losses on digital assets, the previously held Digital Asset Loan Receivable and the warrants related to the Canton Digital Asset Treasury of $243.6 million and a $23.1 million decline in Interest expense, net which more than offset higher technology spending, including the impact of investments. Refer to Note 7, “Fair Value of Financial Instruments” for details related to the Company’s Canton Coin holdings and the Canton Digital Asset Treasury.
Explanation and Reconciliation of the Company’s Use of Non-GAAP Financial Measures
The Company’s results in this Quarterly Report on Form 10-Q are presented in accordance with U.S. GAAP except where otherwise noted. In certain circumstances, Non-GAAP results have been presented. These Non-GAAP measures are Adjusted Operating income, Adjusted Operating income margin, Adjusted Net earnings, Adjusted earnings per share, Free cash flow and Recurring revenue growth constant currency. These Non-GAAP financial measures should be viewed in addition to, and not as a substitute for, the Company’s reported results.
The Company believes our Non-GAAP financial measures help investors understand how management plans, measures and evaluates the Company’s business performance. Management believes that Non-GAAP measures provide consistency in its financial reporting and facilitates investors’ understanding of the Company’s operating results and trends by providing an additional basis for comparison. Management uses these Non-GAAP financial measures to, among other things, evaluate our ongoing operations, and for internal planning and forecasting purposes. In addition, and as a consequence of the importance of these Non-GAAP financial measures in managing our business, the Company’s Compensation Committee of the Board of Directors incorporates Non-GAAP financial measures in the evaluation process for determining management compensation.
Adjusted Operating Income, Adjusted Operating Income Margin, Adjusted Net Earnings and Adjusted Earnings Per Share
These Non-GAAP measures are adjusted to exclude the impact of certain costs, expenses, gains and losses and other specified items, the exclusion of which management believes provides insight regarding our ongoing operating performance. Depending on the period presented, these adjusted measures exclude the impact of certain of the following items:
(i) Amortization of Acquired Intangibles and Purchased Intellectual Property, which represent non-cash amortization expenses associated with the Company’s acquisition activities.
(ii) Acquisition and Integration Costs, which represent certain transaction and integration costs associated with the Company’s acquisition activities.
(iii) Restructuring and Other Related Costs, which represent costs associated with the Company’s Corporate Restructuring Initiative to exit and/or realign some of our businesses, streamline the Company’s management structure, reallocate work to lower cost locations, and reduce headcount in deprioritized areas, in addition to other restructuring activities.
48
Table of Contents
(iv) Gains or Losses on Digital Assets, which represent the mark to market gain or loss recorded to remeasure the Company’s digital asset holdings in the form of Canton Coins to fair market value, in addition to the realized and unrealized gains or losses associated with the Company’s contribution of Canton Coins to CNTN and the associated mark to market gain or loss recorded to remeasure the previously held Digital Asset Loan Receivable and Warrants to fair market value. Refer to Note 1, “Basis of Presentation” for further details related to the Company’s accounting for Canton Coins. Refer to Note 7, “Fair Value of Financial Instruments” for details related to realized and unrealized gains or losses.
We exclude Acquisition and Integration Costs, Restructuring and Other Related Costs, and Gains or Losses on Digital assets from our Adjusted Operating income (as applicable) and other adjusted earnings measures because excluding such information provides us with an understanding of the results from the primary operations of our business and enhances comparability across fiscal reporting periods, as these items are not reflective of our underlying operations or performance.
We also exclude the impact of Amortization of Acquired Intangibles and Purchased Intellectual Property, as these non-cash amounts are significantly impacted by the timing and size of individual acquisitions and do not factor into the Company's capital allocation decisions, management compensation metrics or multi-year objectives. Furthermore, management believes that this adjustment enables better comparison of our results as Amortization of Acquired Intangibles and Purchased Intellectual Property will not recur in future periods once such intangible assets have been fully amortized. Although we exclude Amortization of Acquired Intangibles and Purchased Intellectual Property from our adjusted earnings measures, our management believes that it is important for investors to understand that these intangible assets contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets.
Free Cash Flow
In addition to the Non-GAAP financial measures discussed above, we provide Free cash flow information because we consider Free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated that could be used for dividends, share repurchases, strategic acquisitions, other investments, as well as debt servicing. Free cash flow is a Non-GAAP financial measure and is defined by the Company as Net cash flows provided by operating activities less Capital expenditures as well as Software purchases and capitalized internal use software.
Recurring Revenue Growth Constant Currency
As a multi-national company, we are subject to variability of our reported U.S. dollar results due to changes in foreign currency exchange rates. The exclusion of the impact of foreign currency exchange fluctuations from our Recurring revenue growth, or what we refer to as amounts expressed “on a constant currency basis,” is a Non-GAAP measure. We believe that excluding the impact of foreign currency exchange fluctuations from our Recurring revenue growth provides additional information that enables enhanced comparison to prior periods.
Changes in Recurring revenue growth expressed on a constant currency basis are presented excluding the impact of foreign currency exchange fluctuations. To present this information, current period results for entities reporting in currencies other than the U.S. dollar are translated into U.S. dollars at the average exchange rates in effect during the corresponding period of the comparative year, rather than at the actual average exchange rates in effect during the current fiscal year.             
49
Table of Contents
Reconciliation of Non-GAAP measures to the most directly comparable GAAP measures (unaudited)

Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
(in millions)(in millions)
Operating income (GAAP)$359.5$344.9$754.3$689.9
Adjustments:
Amortization of Acquired Intangibles and Purchased Intellectual Property52.848.9155.2146.6
       Acquisition and Integration Costs4.76.014.311.3
       Restructuring and Other Related Costs (a)3.55.513.25.5
Adjusted Operating income (Non-GAAP)$420.6$405.2$937.0$853.3
Operating income margin (GAAP)18.4%19.0%14.3%14.3%
Adjusted Operating income margin (Non-GAAP)21.5%22.4%17.8%17.7%

Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
(in millions)(in millions)
Net earnings (GAAP)$276.3 $243.1 $726.2 $465.3 
Adjustments:
Amortization of Acquired Intangibles and Purchased Intellectual Property52.8 48.9 155.2 146.6 
       Acquisition and Integration Costs4.7 6.0 14.3 11.3 
       Restructuring and Other Related Costs (a)3.5 5.5 13.2 5.5 
       Gains or Losses on Digital Assets(5.6)— (238.3)— 
            Subtotal of adjustments55.4 60.4 (55.6)163.4 
       Tax impact of adjustments (b)(13.8)(14.6)12.1 (37.1)
Adjusted Net earnings (Non-GAAP)$317.9 $288.8 $682.7 $591.5 
Three Months Ended 
 March 31,		Nine Months Ended 
 March 31,
2026202520262025
Diluted earnings per share (GAAP)$2.36 $2.05 $6.18 $3.93 
Adjustments:
Amortization of Acquired Intangibles and Purchased Intellectual Property0.45 0.41 1.32 1.24 
       Acquisition and Integration Costs0.04 0.05 0.12 0.10 
       Restructuring and Other Related Costs (a)0.03 0.05 0.11 0.05 
       Gains or Losses on Digital Assets(0.05)— (2.03)— 
            Subtotal of adjustments0.47 0.51 (0.47)1.38 
       Tax impact of adjustments (b)(0.12)(0.12)0.10 (0.31)
Adjusted earnings per share (Non-GAAP)$2.72 $2.44 $5.81 $5.00 
(a) Restructuring and Other Related Costs for the three and nine months ended March 31, 2026 consists of severance and other costs related to the closure of substantially all operations of a production facility. Costs incurred are not reflected in segment profit and are recorded within Corporate and Other. The total estimated pre-tax costs for actions and associated costs related to the closure were approximately $20 million and were completed in the third quarter of fiscal year 2026.
50
Table of Contents
(b) Calculated using the GAAP effective tax rate, adjusted to exclude $0.1 million and $2.4 million of excess tax benefits associated with stock-based compensation for the three and nine months ended March 31, 2026, respectively, $5.2 million and $11.5 million of excess tax benefits associated with stock-based compensation for the three and nine months ended March 31, 2025, respectively. For purposes of calculating the Adjusted earnings per share, the same adjustments were made on a per share basis.
Nine Months Ended 
 March 31,
20262025
(in millions)
Net cash flows from operating activities (GAAP)$668.2 $471.6 
Capital expenditures and Software purchases and capitalized internal use software(77.3)(78.5)
     Free cash flow (Non-GAAP)$590.9 $393.2 

Three Months Ended March 31, 2026
 
Investor Communication SolutionsRegulatory Data-Driven Fund SolutionsIssuerCustomer Communications Total
Recurring revenue growth (GAAP)9%9%8%5%8%
Impact of foreign currency exchange0%(1%)0%0%0%
Recurring revenue growth constant currency (Non-GAAP)9%8%8%5%8%


Three Months Ended March 31, 2026
 
Global Technology and OperationsCapital MarketsWealth and Investment ManagementTotal
Recurring revenue growth (GAAP)2%10%5%
Impact of foreign currency exchange(2%)(3%)(3%)
Recurring revenue growth constant currency (Non-GAAP)(0%)8%3%


Three Months Ended March 31, 2026
 
ConsolidatedTotal
Recurring revenue growth (GAAP)7%
Impact of foreign currency exchange(1%)
Recurring revenue growth constant currency (Non-GAAP)6%


51
Table of Contents
Nine Months Ended March 31, 2026
 
Investor Communication SolutionsRegulatory Data-Driven Fund SolutionsIssuerCustomer Communications Total
Recurring revenue growth (GAAP)10%4%7%6%8%
Impact of foreign currency exchange0%(1%)0%0%0%
Recurring revenue growth constant currency (Non-GAAP)10%3%7%6%7%


Nine Months Ended March 31, 2026
 
Global Technology and OperationsCapital MarketsWealth and Investment ManagementTotal
Recurring revenue growth (GAAP)6%14%9%
Impact of foreign currency exchange(2%)(1%)(2%)
Recurring revenue growth constant currency (Non-GAAP)4%13%7%


Nine Months Ended March 31, 2026
 
ConsolidatedTotal
Recurring revenue growth (GAAP)8%
Impact of foreign currency exchange(1%)
Recurring revenue growth constant currency (Non-GAAP)7%
Financial Condition, Liquidity and Capital Resources
Cash and cash equivalents consisted of the following:
March 31,
2026		June 30,
2025
(in millions)
Cash and cash equivalents:
Domestic cash$61.7 $326.2 
Cash held by foreign subsidiaries191.8 174.6 
Cash held by regulated entities51.3 60.7 
     Total cash and cash equivalents$304.8 $561.5 

At March 31, 2026, Cash and cash equivalents were $304.8 million and Total stockholders’ equity was $2,818.8 million. At the current time, and in future periods, we expect 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.
52
Table of Contents
We expect existing domestic cash, cash equivalents, cash flows from operations and borrowing capacity to continue to be sufficient to fund our domestic operating activities and cash commitments for investing and financing activities, such as regular quarterly dividends, debt repayment schedules, and material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. In addition, we expect existing foreign cash, cash equivalents, cash flows from operations and borrowing capacity to continue to be sufficient to fund our foreign operating activities and cash commitments for investing activities, such as material capital expenditures, for at least the next 12 months and thereafter for the foreseeable future. If these funds are needed for our operations in the U.S., we may be required to pay additional foreign taxes to repatriate these funds. However, while we may do so at a future date, the Company does not need to repatriate future foreign earnings to fund U.S. operations.
Outstanding borrowings and available capacity under the Company’s borrowing arrangements were as follows:
Expiration
Date		Principal amount outstanding at March 31, 2026Carrying value at March 31, 2026Carrying value at June 30, 2025Unused
Available
Capacity		Fair Value at March 31, 2026
(in millions)
Current portion of long-term debt
Fiscal 2016 Senior NotesJune 2026$500.0 $499.8 $499.3 $— $498.8 
             Total$500.0 $499.8 $499.3 $— $498.8 
Long-term debt, excluding current portion
Fiscal 2025 Revolving Credit Facility:
       U.S. dollar trancheDecember 2029$170.0 $170.0 $— $830.0 $170.0 
       Multicurrency trancheDecember 202968.3 68.3 133.5 431.7 68.3 
             Total Revolving Credit Facility$238.3 $238.3 $133.5 $1,261.7 $238.3 
Fiscal 2026 Term LoanAugust 2030$750.0 $747.2 $879.1 $— $750.0 
Fiscal 2020 Senior NotesDecember 2029750.0 746.7 746.0 — 701.9 
Fiscal 2021 Senior NotesMay 20311,000.0 995.1 994.4 — 890.3 
             Total Senior Notes$1,750.0 $1,741.7 $1,740.3 $— $1,592.2 
             Total long-term debt$2,738.3 $2,727.2 $2,753.0 $1,261.7 $2,580.5 
             Total debt$3,238.3 $3,227.0 $3,252.3 $1,261.7 $3,079.3 
Future principal payments on our outstanding debt are as follows:
Years ending June 30,20262027202820292030ThereafterTotal
(in millions)$500.0 $— $— $— $988.3 $1,750.0 $3,238.3 
The Fiscal 2025 Revolving Credit Facility, Fiscal 2026 Term Loan, Fiscal 2016 Senior Notes, Fiscal 2020 Senior Notes and Fiscal 2021 Senior Notes are senior unsecured obligations of the Company and are ranked equally in right of payment.
Please refer to Note 11, “Borrowings” to our Condensed Consolidated Financial Statements in Item 1. of Part I of this Quarterly Report on Form 10-Q for a more detailed discussion.
53
Table of Contents
Cash Flows
Nine Months Ended 
 March 31,
Change
20262025$
(in millions)
Net cash flows from operating activities$668.2 $471.6 $196.5 
Net cash flows from investing activities(225.4)(276.1)50.8 
Net cash flows from financing activities(697.9)(177.5)(520.4)
Effect of exchange rate changes on Cash and cash equivalents(1.7)(5.2)3.6 
Net change in Cash and cash equivalents$(256.7)$12.8 $(269.5)
Free cash flow:
Net cash flows from operating activities (GAAP)$668.2 $471.6 $196.5 
Capital expenditures and Software purchases and capitalized internal use software(77.3)(78.5)1.2 
     Free cash flow (Non-GAAP)$590.9 $393.2 $197.7 

The increase in cash from operating activities of $196.5 million in the nine months ended March 31, 2026, as compared to the nine months ended March 31, 2025 was primarily due to an increase in Net earnings of $261.0 million, a decrease in cash used for Accounts payable and accrued expenses of $198.1 million, and an increase in Deferred income taxes of $102.7 million. This was partially offset by a $235.0 million non-cash gain related to Digital assets and higher Accounts receivable of $126.2 million.
The increase in cash from investing activities of $50.8 million in the nine months ended March 31, 2026, as compared to the nine months ended March 31, 2025, was primarily driven by decreased cash used for acquisitions of $72.5 million partially offset by an increase in cash used for other investing activities of $22.9 million.
The decrease in cash from financing activities of $520.4 million in the nine months ended March 31, 2026 as compared to the nine months ended March 31, 2025, primarily reflects an increase in cash used for stock buybacks net of cash proceeds for stock option issuances of $378.6 million, a decrease in net borrowings of $111.2 million, and an increase in dividends paid of $31.5 million.

Seasonality
Processing and distributing proxy materials and annual reports to investors comprises a large portion of our Investor Communication Solutions business. We process and distribute the greatest number of proxy materials and annual reports during our third and fourth fiscal quarters. The recurring periodic activity of this business is linked to significant filing deadlines imposed by law on public reporting companies. This has caused our revenues, operating income, net earnings, and cash flows from operating activities to be higher in our third and fourth fiscal quarters. The seasonality of our revenues makes it difficult to estimate future operating results based on the results of any specific fiscal quarter and could affect an investor’s ability to compare our financial condition, results of operations, and cash flows on a fiscal quarter-by-quarter basis.
54
Table of Contents
Contractual Obligations
Data Center Agreements
The Company is a party to an Amended and Restated IT Services Agreement (“ITSA”) with Kyndryl, Inc. (“Kyndryl”), an entity formed by IBM’s spin-off of its managed infrastructure services business. Kyndryl provides certain aspects of the Company’s information technology infrastructure, including supporting its mainframe, midrange, network and data center operations, as well as providing disaster recovery services. On March 31, 2026, the Company further amended the ITSA which extended the arrangement through December 31, 2031, and incorporated an embedded lease for mainframe equipment and licenses for related software, which is expected to commence in March 2027. Fixed minimum commitments, including lease liabilities not yet recognized, under the ITSA at March 31, 2026 are $400.4 million through December 31, 2031, the final year of the ITSA.
Broadridge Software Limited, a subsidiary of the Company is party to the SIS Services Agreement with Kyndryl Canada, under which Kyndryl Canada provides infrastructure managed services for the SIS Business. The SIS Services Agreement expires on October 31, 2029. Fixed minimum commitments remaining under the SIS Services Agreement at March 31, 2026 are $113.1 million through October 31, 2029, the final year of the SIS Services Agreement.
The Company is a party to an information technology agreement for private cloud services (the “Private Cloud Agreement”) under which Kyndryl operates, manages and supports the Company’s private cloud global distributed platforms and products, and operates and manages certain Company networks. The Private Cloud Agreement expires on March 31, 2030. Fixed minimum commitments remaining under the Private Cloud Agreement at March 31, 2026 are $63.0 million through March 31, 2030, the final year of the contract.
Cloud Services Resale Agreement
On December 31, 2021, the Company and Presidio Networked Solutions LLC (“Presidio”), a reseller of services of Amazon Web Services, Inc. and its affiliates (collectively, “AWS”), entered into an Order Form and AWS Private Pricing Addendum, dated December 31, 2021 (the “Order Form”), to the Cloud Services Resale Agreement, dated December 15, 2017, as amended (together with the Order Form, the “AWS Cloud Agreement”), whereby Presidio will resell to the Company certain public cloud infrastructure and related services provided by AWS for the operation, management and support of the Company’s cloud global distributed platforms and products. The AWS Cloud Agreement expires on December 31, 2026. Fixed minimum commitments remaining under the AWS Cloud Agreement at March 31, 2026 are $41.5 million through December 31, 2026.
Other
The Company has an equity method investment that is a variable interest in a variable interest entity. The Company is not the primary beneficiary and therefore does not consolidate the investee. The Company’s potential maximum loss exposure related to its unconsolidated investments in this variable interest entity totaled $25.4 million as of March 31, 2026, which represents the carrying value of the Company's investments.
In addition, as of March 31, 2026, the Company has future commitments to fund $15.0 million to the Company’s other investees.
Other Commercial Agreements
Certain of the Company’s subsidiaries established unsecured, uncommitted lines of credit with banks. There were no outstanding borrowings under these lines of credit at March 31, 2026.
Off-balance Sheet Arrangements
It is not our business practice to enter into off-balance sheet arrangements. However, we are exposed to market risk from changes in foreign currency exchange rates that could impact our financial position, results of operations, and cash flows. We manage our exposure to these market risks through regular operating and financing activities and, when deemed appropriate, through the use of derivative financial instruments.
55
Table of Contents
In January 2022, we executed a series of cross-currency swap derivative contracts with an aggregate notional amount of EUR 880 million which are designated as net investment hedges to hedge a portion of our net investment in our subsidiaries whose functional currency is the Euro. The cross-currency swap derivative contracts are agreements to pay fixed-rate interest in Euros and receive fixed-rate interest in U.S. Dollars, thereby effectively converting a portion of our U.S. Dollar denominated fixed-rate debt into Euro denominated fixed-rate debt. The cross-currency swaps mature in May 2031 to coincide with the maturity of the Fiscal 2021 Senior Notes. Accordingly, foreign currency transaction gains or losses on the qualifying net investment hedge instruments are recorded as foreign currency translation within other comprehensive income (loss), net in the Condensed Consolidated Statements of Comprehensive Income and will remain in Accumulated other comprehensive income (loss) in the Condensed Consolidated Balance Sheets until the sale or complete liquidation of the underlying foreign subsidiary. At March 31, 2026, our position on the cross-currency swaps was an asset of $8.1 million, and is recorded as part of Other non-current assets on the Condensed Consolidated Balance Sheets with the offsetting amount recorded as part of Accumulated other comprehensive income (loss), net of tax. We have elected the spot method of accounting whereby the net interest savings from the cross-currency swaps is recognized as a reduction in interest expense in our Condensed Consolidated Statements of Earnings.
In May 2021, we settled a forward treasury lock agreement that was designated as a cash flow hedge, for a pre-tax loss of $11.0 million, after which the final settlement loss is being amortized into Interest expense, net ratably over the ten year term of the Fiscal 2021 Senior Notes. The expected amount of the existing loss that will be amortized into earnings before income taxes within the next twelve months is approximately $1.1 million.
In the normal course of business, we also enter into contracts in which it makes representations and warranties that relate to the performance of our products and services. We do not expect any material losses related to such representations and warranties, or collateral arrangements.
Recently-issued Accounting Pronouncements
Please refer to Note 2, “New Accounting Pronouncements” to our Condensed Consolidated Financial Statements under Item 1. of Part I of this Quarterly Report on Form 10-Q, for a discussion on the impact of new accounting pronouncements.

56
Table of Contents
Item 3.    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
There have been no material changes to the quantitative and qualitative disclosures about market risk previously disclosed in Item 7A. of our 2025 Annual Report.
Item 4.    CONTROLS AND PROCEDURES
Management’s Evaluation of Disclosure Controls and Procedures
Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of March 31, 2026. The Chief Executive Officer and the Chief Financial Officer concluded that our disclosure controls and procedures as of March 31, 2026 were effective.
Changes in Internal Control over Financial Reporting
No change in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) occurred during the three months ended March 31, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.
57
Table of Contents
PART II. OTHER INFORMATION
Item 1.    LEGAL PROCEEDINGS
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. For information concerning the Company’s legal proceedings, reference is made to Note 15, “Contractual Commitments, Contingencies and Off-Balance Sheet Arrangements” to the unaudited interim Condensed Consolidated Financial Statements included elsewhere in this Form 10-Q.
Item 1A. RISK FACTORS
In addition to the information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the “Risk Factors” disclosed under Item 1A. to Part I in our 2025 Annual Report. You should be aware that these risk factors and other information may not describe every risk facing our Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results. There have been no material changes to the risk factors we have disclosed in the “Risk Factors” section of our 2025 Annual Report other than the risk set forth below.
We may incur significant charges or losses in the future associated with our portfolio of intangible assets, including goodwill and digital assets.
As a result of past acquisitions, we carry a significant amount of goodwill and other acquired intangible assets on our balance sheet. In addition, we also defer certain costs to onboard a client or convert a client’s systems to function with our technology. Goodwill, intangible assets, net, and deferred client conversion and start-up costs accounted for approximately 67% of the total assets on our balance sheet as of June 30, 2025. We test goodwill for impairment annually as of March 31st and we test goodwill, intangible assets, net, and deferred client conversion and start-up costs for impairment at other times if events have occurred or circumstances exist that indicate the carrying value of such assets may no longer be recoverable. It is possible we may incur impairment charges in the future, particularly in the event of a prolonged economic recession or loss of a key client or clients. A significant non-cash impairment could have a material adverse effect on our results of operations.
Additionally, we may hold digital or crypto assets, a relatively new and evolving asset class and technological innovation that is subject to a high degree of uncertainty and risk. For example, we receive and hold digital assets in the form of Canton Coins. These risks include, but are not limited to, market volatility, potential for fraud or theft, cyberattacks, loss or theft of electronic wallet keys, and rapidly changing or unsettled legal, regulatory, and market standards. The value of digital assets is highly speculative and can fluctuate dramatically, and determining their fair value can be particularly challenging. Events such as diminished adoption, negative regulatory developments, or technological changes may result in significant reductions to the value of digital assets we hold or even the total loss of such assets. In addition, the ability to convert digital assets to fiat currency may be limited or nonexistent. Furthermore, as legal and regulatory requirements for digital assets continue to evolve, we could face additional compliance costs, restrictions, or liabilities, and any significant loss in value or adverse developments relating to digital assets could impact our financial condition and results of operations.
Item 2.    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The following table contains information about our purchases of our equity securities for each of the three months during our third fiscal quarter ended March 31, 2026:
PeriodTotal Number of Shares Purchased (1)Average Price
Paid per Share		Total Number of Shares
Purchased as Part of
Publicly Announced Plans or Programs (2)		Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (2)
January 1, 2026 - January 31, 2026122 $223.17 — 6,258,662 
February 1, 2026 - February 28, 20261,130,939 177.12 1,129,418 5,129,244 
March 1, 2026 - March 31, 202643 260.60 — 5,129,244 
1,131,104 $177.12 1,129,418 
_____________
58
Table of Contents
(1)Includes 1,686 shares purchased from employees to pay taxes related to the vesting of stock-based compensation awards.
(2)During the fiscal quarter ended March 31, 2026, the Company repurchased 1,129,418 shares of common stock at an average price of $177.10 under its share repurchase program. At March 31, 2026, the Company had 5,129,244 shares available for repurchase under its share repurchase program. Any share repurchases will be made in the open market or privately negotiated transactions in compliance with applicable legal requirements and other factors.

Item 5.    OTHER INFORMATION
None.

Item 6.    EXHIBITS
The following exhibits are being filed as part of this Quarterly Report on Form 10-Q:
10.1
10.2
10.3
31.1
31.2
32.1
32.2
101The following financial statements from the Broadridge Financial Solutions, Inc. Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, formatted in eXtensible Business Reporting Language (XBRL): (i) condensed consolidated statements of earnings for the three and nine months ended March 31, 2026 and 2025, (ii) condensed consolidated statements of comprehensive income for the three and nine months ended March 31, 2026 and 2025, (iii) condensed consolidated balance sheets as of March 31, 2026 and June 30, 2025, (iv) condensed consolidated statements of cash flows for the nine months ended March 31, 2026 and 2025, (v) condensed consolidated statements of stockholders’ equity for the three and nine months ended March 31, 2026 and 2025, and (vi) the notes to the condensed consolidated financial statements. XBRL Instance Document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
104Cover Page Interactive Data File (Formatted as Inline XBRL and contained in Exhibit 101)


59
Table of Contents
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Quarterly Report on Form 10-Q to be signed on its behalf by the undersigned hereunto duly authorized.
BROADRIDGE FINANCIAL SOLUTIONS, INC.
Date: April 30, 2026By:/s/ Ashima Ghei
Ashima Ghei
Corporate Vice President, Chief Financial Officer
(Principal Financial and Accounting Officer)

60

What is the market capitalization of a company?

The market capitalization sometimes referred as Marketcap, is the value of a publicly listed company.
In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares.

DISCLAIMER

CompaniesMarketCap is not associated in any way with CoinMarketCap.com
Stock prices are delayed, the delay can range from a few minutes to several hours.
Company logos are from the CompaniesLogo.com logo database and belong to their respective copyright holders. Companies Marketcap displays them for editorial purposes only.

Contact

For inquiries or if you want to report a problem write to hello@8marketcap.com

Links

- Privacy policy

- Terms and conditions

© 2025 CompaniesMarketcap.com