The software solutions net sales grew 7.5% Y/Y to $71.6 million; compliance software net sales increased by 12.7% Y/Y.
EPS of $1.54 beat the consensus of $0.89.
Adjusted EBITDA margin of 31.0% was up 110 bps, primarily driven by higher capital markets compliance volume and favorable sales mix.
DFIN generated $45.8 million in operating cash flow and held $17.8 million in cash and equivalents.
CEO Daniel N. Leib continued, "During the second quarter, we made continued progress toward becoming a software-centric company. Total software sales grew nearly 8% compared to the second quarter of 2021 and made up 26.9% of total second-quarter net sales, an increase of 200 basis points from last year's second quarter sales mix."
"Our software sales growth was led by the performance of our recurring compliance products which posted 13% sales growth in the quarter, with ActiveDisclosure sales growing 20%, including a 25% growth in NewAD subscription revenue."
Price Action: DFIN shares traded higher by 16.40% at $39.11 on the last check Wednesday.
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