SEI Reports Second-Quarter 2026 Financial Results

SEI Reports Second-Quarter 2026 Financial Results News provided by SEI Investments Company Jul 22, 2026, 16:01 ET Share this article Share to X Share this article Share to X OAKS, Pa. , July 22, 2026 /PRNewswire/ -- SEI Investments Company (NASDAQ: SEIC ) today announced financial results for the second quarter 2026. Relative to the second quarter 2025, EPS declined by 11%, and revenue and operating income grew by 15% and 33%, respectively, with operating margin increasing to 31%. On an adjusted basis, EPS and operating income grew 38% and 36%, respectively, with the adjusted operating margin increasing to 32%. Consolidated Overview (In thousands, except earnings per share) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 % 2026 2025 % U.S. GAAP Basis Revenues $641,617 $559,601 15 % $1,263,800 $1,110,945 14 % Income from operations 197,016 148,635 33 % 386,502 305,732 26 % Operating margin 31 % 27 % 15 % 31 % 28 % 11 % Net income attributable to SEI Investments 195,658 227,083 (14) % 370,145 378,600 (2) % Diluted earnings per share $1.59 $1.78 (11) % $2.99 $2.95 1 % Non-GAAP Basis (1) Adjusted income from operations $206,951 $152,612 36 % $405,634 $313,158 30 % Adjusted diluted earnings per share $1.66 $1.20 38 % $3.10 $2.40 29 % Adjusted operating margin 32 % 27 % 19 % 32 % 28 % 14 % (1) See Non-GAAP Information and Reconciliations on pg 11 "SEI's record-setting second-quarter results are evidence that the strategic and operational changes we've made over the last four years are translating into meaningful financial performance," said CEO Ryan Hicke. "We've been deliberate in how we allocate capital, evolve our value proposition, and focus our resources on the areas where we believe we can create sustainable competitive advantage. Those efforts are driving stronger sales quality, expanding margins, and creating greater leverage across the enterprise, while allowing us to continue investing in the capabilities, talent, and innovation that will shape SEI's future." Summary of Second-Quarter Results by Business Segment (In thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 % 2026 2025 % Investment Managers: Revenues $227,679 $195,067 17 % $448,396 $387,115 16 % Expenses 136,078 121,636 12 % 269,917 238,847 13 % Operating Profit 91,601 73,431 25 % 178,479 148,268 20 % Operating Margin 40 % 38 % 40 % 38 % Private Banks: Revenues 156,879 141,449 11 % 309,141 279,163 11 % Expenses 125,220 118,724 5 % 245,251 233,473 5 % Operating Profit 31,659 22,725 39 % 63,890 45,690 40 % Operating Margin 20 % 16 % 21 % 16 % Investment Advisors: Revenues 177,897 137,193 30 % 347,592 273,769 27 % Expenses 101,866 75,801 34 % 198,223 148,256 34 % Non-controlling interests and other, net (A) 1,361 — NM* 2,698 — NM Operating Profit 74,670 61,392 22 % 146,671 125,513 17 % Operating Margin 42 % 45 % 42 % 46 % Institutional Investors: Revenues 69,702 69,343 1 % 141,218 137,849 2 % Expenses 36,826 35,857 3 % 73,963 71,727 3 % Operating Profit 32,876 33,486 (2) % 67,255 66,122 2 % Operating Margin 47 % 48 % 48 % 48 % Investments in New Businesses: Revenues 9,460 16,549 (43) % 17,453 33,049 (47) % Expenses 10,039 18,430 (46) % 19,232 36,926 (48) % Operating Loss (579) (1,881) (69) % (1,779) (3,877) (54) % Totals: Revenues $641,617 $559,601 15 % $1,263,800 $1,110,945 14 % Expenses 410,029 370,448 11 % 806,586 729,229 11 % Corporate Overhead Expenses 34,572 40,518 (15) % 70,712 75,984 (7) % Income from operations (B) $197,016 $148,635 33 % $386,502 $305,732 26 % Adjusted income from operations $206,951 $152,612 36 % $405,634 $313,158 30 % (A) Primarily includes non-controlling interest and earnings from equity method investments. (B) Excludes non-controlling interests and other, net * Variances noted "NM" indicate the percent change is not meaningful. Second-Quarter Business Highlights: SEI delivered strong second-quarter results, with diluted EPS of $1.59 and adjusted diluted EPS of $1.66. On an adjusted basis, EPS increased 38% relative to the prior year, driven by strong revenue growth, margin expansion, and a 3% reduction in share count from SEI's share repurchase program. Second quarter net sales events totaled $43.5 million, bringing year-to-date sales events to $110.6 million. Recurring sales events totaled $32.6 million during the quarter. Private Banks generated $10.1 million of sales events, reflecting continued demand across SEI's capabilities. Private Banking sales activity was driven by new regional banking client wins, the conversion of clients from TRUST 3000® to the SEI Wealth PlatformSM, and continued momentum for professional services. Investment Managers led the quarter with $32.0 million of sales events. Approximately half came from new client wins, including continued contribution from the two large relationships announced last quarter. The remainder was driven primarily by expanded relationships with existing clients and professional services activity associated with implementing several significant wins announced over the last year. Approximately three-quarters of sales events came from alternative investments. Advisors and Institutional generated negative $2.8 million of net sales events. Sales activity in newer product categories, including ETFs and SMAs, continued during the quarter, though those products generally carry lower fee rates than traditional mutual funds. Consolidated revenues and operating income increased by 15% and 33%, respectively, from Q2 2025. On an adjusted basis, operating income increased by 36% with adjusted operating margins increasing to 32%, up 5 percentage points from Q2 2025. Revenue increased by $82.0 million, while expenses increased by $33.6 million, reflecting strong operating leverage despite continued investment across the business. Private Banking revenue increased 11% and operating profit increased 39% versus Q2 2025, as strong sales execution over the past year continued to translate into financial performance. Investment Managers revenue increased 17% and operating profit increased 25% versus Q2 2025 as sales momentum translated into financial performance. Operating margin increased to 40%. Investment Advisors revenue increased 30% and operating profit increased 22% versus the prior year, benefiting from higher market values and the contribution from Stratos. Excluding Stratos, Advisors margins increased by over three percentage points from Q2 2025. Institutional Investors revenue increased 1% versus Q2 2025, while operating profit declined 2%, reflecting continued investment in sales and leadership initiatives. Ending assets under administration increased 5% during the quarter, driven by the funding of alternative mandates and market appreciation for traditional mandates. Ending assets under management increased 9.5% to $606.7 billion, driven by strong market appreciation. LSV generated $2.0 billion of net inflows during the quarter, driven primarily by the funding of a large new mandate. Combined with market appreciation, total LSV assets increased by nearly $17 billion during the quarter. LSV investment performance remained strong. Performance fees totaled approximately $17 million during the quarter, of which approximately $6.5 million was attributable to SEI. During the quarter, SEI repurchased 1.3 million shares of common stock for $112.4 million at an average price of $86.92 per share. Earnings Conference Call A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on Wednesday, July 22, 2026. A live webcast of the call will be available on SEI's Investor Relations website at ir.seic.com/events-presentations/events, where a replay will also be posted following the call. Participants may also access the call by telephone by dialing 877-407-8293 (in the U.S.) or +1 201-689-8349 (International). Please dial in at least 10 minutes prior to the start of the call. About SEI ® SEI (NASDAQ: SEIC ) is a leading global provider of financial technology, operations, and asset management services within the financial services industry. SEI tailors its solutions and services to help clients more effectively deploy their capital—whether that's money, time, or talent—so they can better serve their clients and achieve their growth objectives. As of June 30, 2026, SEI manages, advises, or administers approximately $2.1 trillion in assets. For more information, visit seic.com. This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," '"will," "can," "expect," "believe," "remain," and "continue" or "appear." Our forward-looking statements include our current expectations as to: the degree to which, if any, the strategic and operational changes that we have made will translate into financial performance; whether our capital allocation strategies and investments will create sustainable competitive advantage; the durability of the quality of our sales, margin expansion and enterprise leverage; the benefits of our investments; the level of demand for our capabilities; the effects of our operating leverage; our investment priorities; LSV performance; and when and if we will generate net annualized recurring revenues from sales events that occurred during the quarter, as well as the amount of any such revenue. You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. We undertake no obligation to update our forward-looking statements. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission. Investor contact : Media contact : Brad Burke Alicia Rudd SEI SEI +1 610-676-5350 +1 610-676-3887 [email protected] [email protected] SEI INVESTMENTS COMPANY CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Asset management, admin. and distribution fees $513,482 $437,543 $1,011,466 $869,686 Information processing and software servicing fees 128,135 122,058 252,334 241,259 Total revenues 641,617 559,601 1,263,800 1,110,945 Subadvisory, distribution and other asset mgmt. costs 59,980 49,709 116,726 97,241 Software royalties and other information processing costs 9,677 9,191 19,609 18,272 Compensation, benefits and other personnel 207,839 199,574 414,154 390,358 Stock-based compensation 16,313 13,891 30,809 28,029 Consulting, outsourcing and professional fees 56,269 56,942 110,672 112,943 Data processing and computer related 46,862 41,801 91,735 81,120 Facilities, supplies and other costs 21,453 21,744 41,775 40,499 Amortization 19,137 10,449 37,491 21,159 Depreciation 7,071 7,665 14,327 15,592 Total expenses 444,601 410,966 877,298 805,213 Income from operations 197,016 148,635 386,502 305,732 Net gain from investments 3,550 1,759 3,181 2,252 Interest and dividend income 7,012 9,283 14,174 19,504 Interest expense (562) (92) (1,035) (277) Gain on sale of business — 94,412 — 94,412 Other income — 4,500 450 4,500 Equity in earnings of unconsolidated affiliates 38,694 33,640 71,170 62,387 Net gain from consolidated variable interest entities 7,475 — 9,554 — Income before income taxes 253,185 292,137 483,996 488,510 Income taxes 53,645 65,054 107,669 109,910 Net income $199,540 $227,083 $376,327 $378,600 Less: Net income attributable to non-controlling interests 3,882 — 6,182 — Net income attributable to SEI Investments Company $195,658 $227,083 $370,145 $378,600 Basic earnings per common share $1.63 $1.82 $3.06 $3.02 Shares used to calculate basic earnings per share 120,339 124,470 120,999 125,516 Diluted earnings per common share $1.59 $1.78 $2.99 $2.95 Shares used to calculate diluted earnings per share 123,334 127,278 123,914 128,364 Dividends declared per common share $0.52 $0.49 $0.52 $0.49 SEI INVESTMENTS COMPANY CONSOLIDATED CONDENSED BALANCE SHEETS (In thousands) (Unaudited) June 30, December 31, 2026 2025 Assets Current Assets: Cash and cash equivalents $395,664 $399,804 Receivables from investment products 60,535 63,317 Receivables, net 783,400 709,748 Securities owned 25,532 33,777 Other current assets 78,095 66,691 Total Current Assets 1,343,226 1,273,337 Property and Equipment, net 151,885 150,434 Operating Lease Right-of-Use Assets 32,345 26,447 Capitalized Software, net 227,215 234,272 Investments 318,909 428,004 Assets of Consolidated Variable Interest Entities 206,955 183,994 Goodwill 389,420 354,989 Intangible assets, net 470,524 368,272 Other Assets, net 183,859 240,095 Total Assets $3,324,338 $3,259,844 Liabilities, Redeemable Non-controlling Interests and Equity Current Liabilities: Accounts payable $10,547 $5,404 Accrued liabilities 225,607 359,823 Current portion of long-term debt 3,487 — Current portion of long-term operating lease liabilities 10,169 8,677 Deferred revenue 15,718 13,307 Total Current Liabilities 265,528 387,211 Long-term Debt 29,483 — Liabilities of Consolidated Variable Interest Entities 121,300 108,504 Other Long-term Liabilities 61,128 60,353 Total Liabilities 477,439 556,068 Redeemable Non-controlling Interests 311,027 243,959 Equity: Shareholders' Equity: Common stock, $0.01 par value, 750,000 shares authorized; 119,977 and 122,232 shares issued and outstanding 1,200 1,222 Capital in excess of par value 1,714,294 1,678,787 Retained earnings 813,820 792,280 Accumulated other comprehensive loss, net (29,616) (24,505) Total SEI Shareholders' Equity 2,499,698 2,447,784 Non-controlling interests 36,174 12,033 Total Equity $2,535,872 $2,459,817 Total Liabilities, Redeemable Non-controlling Interests and Equity $3,324,338 $3,259,844 SEI INVESTMENTS COMPANY CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) For the Six Months Ended June 30, 2026 2025 Cash flows from operating activities: Net income $376,327 $378,600 Adjustments to reconcile net income to net cash provided by operating activities: (28,960) (135,595) Net cash provided by operating activities $347,367 $243,005 Net cash provided by investing activities $16,863 $65,268 Net cash used in financing activities ($356,918) ($419,220) Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,406) 17,103 Net change in cash and cash equivalents and cash and cash equivalents held at consolidated variable interest entities 1,906 (93,844) Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities, beginning of period 470,595 840,193 Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities, end of period $472,501 $746,349 Reconciliation of Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities to the Consolidated Balance Sheets: June 30, 2026 December 31, 2025 Cash and cash equivalents $395,664 $399,804 Cash and cash equivalents held at consolidated variable interest entities 76,837 70,791 Total cash and cash equivalents and cash and cash equivalents held at consolidated variable interest entities $472,501 $470,595 ENDING ASSET BALANCES (In millions) (Unaudited) Jun. 30 Sep. 30 Dec. 31 Mar. 31 Jun. 30 Investment Managers: 2025 2025 2025 2026 2026 Collective trust fund programs (A) $225,690 $237,964 $243,244 $243,900 $265,265 Liquidity funds 307 418 579 536 464 Total assets under management $225,997 $238,382 $243,823 $244,436 $265,729 Client assets under administration 1,128,325 1,204,843 1,239,606 1,284,781 1,351,307 Total assets $1,354,322 $1,443,225 $1,483,429 $1,529,217 $1,617,036 Private Banks: Equity and fixed-income programs $27,839 $28,408 $29,832 $29,753 $32,520 Collective trust fund programs 3 3 3 4 4 Liquidity funds 2,796 2,802 2,099 2,178 1,709 Total assets under management $30,638 $31,213 $31,934 $31,935 $34,233 Client assets under administration 8,431 8,902 9,115 9,143 9,405 Total assets $39,069 $40,115 $41,049 $41,078 $43,638 Investment Advisors: Equity and fixed-income programs $80,618 $85,245 $86,879 $86,612 $94,390 Liquidity funds 3,457 3,391 3,561 3,485 3,391 Total Platform assets under management $84,075 $88,636 $90,440 $90,097 $97,781 Platform-only assets 29,848 32,152 33,582 34,070 38,308 Platform-only assets-deposit program 2,155 2,165 2,461 2,294 2,358 Total Platform assets $116,078 $122,953 $126,483 $126,461 $138,447 Institutional Investors: Equity and fixed-income programs $80,112 $82,676 $84,254 $82,195 $86,690 Liquidity funds 1,768 1,580 1,604 1,503 1,559 Total assets under management $81,880 $84,256 $85,858 $83,698 $88,249 Client assets under advisement 6,090 6,564 3,598 3,549 3,790 Total assets $87,970 $90,820 $89,456 $87,247 $92,039 Investments in New Businesses: Equity and fixed-income programs $2,867 $2,999 $3,044 $3,087 $3,351 Liquidity funds 244 244 316 252 236 Total assets under management $3,111 $3,243 $3,360 $3,339 $3,587 Client assets under advisement 2,593 2,452 2,389 2,185 2,506 Total assets $5,704 $5,695 $5,749 $5,524 $6,093 LSV Asset Management: Equity and fixed-income programs (B) $91,795 $95,801 $99,196 $100,567 $117,146 Stratos Wealth Holdings (E) $— $— $38,637 $38,291 $41,889 Total: Equity and fixed-income programs (C) $283,231 $295,129 $303,205 $302,214 $334,097 Collective trust fund programs 225,693 237,967 243,247 243,904 265,269 Liquidity funds 8,572 8,435 8,159 7,954 7,359 Total assets under management $517,496 $541,531 $554,611 $554,072 $606,725 Client assets under advisement 8,683 9,016 5,987 5,734 6,296 Client assets under administration (D) 1,136,756 1,213,745 1,248,721 1,293,924 1,360,712 Platform-only assets 32,003 34,317 36,043 36,364 40,666 Stratos Wealth Holdings — — 38,637 38,291 41,889 Total assets $1,694,938 $1,798,609 $1,883,999 $1,928,385 $2,056,288 (A) Collective trust fund program assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs. (B) Equity and fixed-income programs include $1.5 billion of assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee (as of June 30, 2026). (C) Equity and fixed-income programs include $8.9 billion of assets in various asset allocation funds (as of June 30, 2026). (D) In addition to the assets presented, SEI also administers an additional $14.3 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of June 30, 2026). (E) Beginning June 30, 2026, assets related to Stratos Wealth Holdings are no longer reported on a one month lag. Prior period asset balances have been revised to conform with the current period presentation. AVERAGE ASSET BALANCES (In millions) (Unaudited) 2nd Qtr. 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 2025 2025 2025 2026 2026 Investment Managers: Collective trust fund programs (A) $215,085 $231,088 $240,285 $248,851 $259,655 Liquidity funds 288 385 492 565 506 Total assets under management $215,373 $231,473 $240,777 $249,416 $260,161 Client assets under administration 1,098,925 1,174,961 1,225,392 1,280,581 1,332,630 Total assets $1,314,298 $1,406,434 $1,466,169 $1,529,997 $1,592,791 Private Banks: Equity and fixed-income programs $26,533 $28,051 $29,087 $30,696 $32,005 Collective trust fund programs 3 3 3 3 4 Liquidity funds 2,771 2,834 2,371 2,150 1,717 Total assets under management $29,307 $30,888 $31,461 $32,849 $33,726 Client assets under administration 8,266 8,665 8,977 9,282 9,455 Total assets $37,573 $39,553 $40,438 $42,131 $43,181 Investment Advisors: Equity and fixed-income programs $76,629 $82,735 $85,896 $88,403 $92,424 Liquidity funds 3,464 3,378 3,418 3,518 3,338 Total Platform assets under management $80,093 $86,113 $89,314 $91,921 $95,762 Platform-only assets 27,288 30,874 33,022 34,485 36,768 Platform-only assets-deposit program 2,152 2,136 2,135 2,309 2,273 Total Platform assets $109,533 $119,123 $124,471 $128,715 $134,803 Institutional Investors: Equity and fixed-income programs $77,843 $80,802 $83,739 $84,393 $85,302 Liquidity funds 1,853 1,810 1,947 1,941 1,702 Total assets under management $79,696 $82,612 $85,686 $86,334 $87,004 Client assets under advisement 5,841 6,274 5,413 3,657 3,703 Total assets $85,537 $88,886 $91,099 $89,991 $90,707 Investments in New Businesses: Equity and fixed-income programs $2,732 $2,934 $3,021 $3,106 $3,260 Liquidity funds 244 255 288 319 258 Total assets under management $2,976 $3,189 $3,309 $3,425 $3,518 Client assets under administration (E) 14,917 — — — — Client assets under advisement 2,329 2,428 2,408 2,335 2,425 Total assets $20,222 $5,617 $5,717 $5,760 $5,943 LSV Asset Management: Equity and fixed-income programs (B) $89,422 $92,969 $97,304 $104,619 $115,862 Stratos Wealth Holdings (F) $— $— $38,507 $39,317 $40,559 Total: Equity and fixed-income programs (C) $273,159 $287,491 $299,047 $311,217 $328,853 Collective trust fund programs 215,088 231,091 240,288 248,854 259,659 Liquidity funds 8,620 8,662 8,516 8,493 7,521 Total assets under management $496,867 $527,244 $547,851 $568,564 $596,033 Client assets under advisement 8,170 8,702 7,821 5,992 6,128 Client assets under administration (D) 1,122,108 1,183,626 1,234,369 1,289,863 1,342,085 Platform-only assets 29,440 33,010 35,157 36,794 39,041 Stratos Wealth Holdings — — 38,507 39,317 40,559 Total assets $1,656,585 $1,752,582 $1,863,705 $1,940,530 $2,023,846 (A) Collective trust fund program average assets in the Investment Managers segment are included in assets under management since SEI is the trustee. Fees earned on this product are less than fees earned on customized asset management programs. (B) Equity and fixed-income programs during second-quarter 2026 include $1.4 billion of average assets managed by LSV in which fees are based solely on performance and are not calculated as an asset-based fee. (C) Equity and fixed-income programs include $8.6 billion of average assets in various asset allocation funds during second-quarter 2026. (D) In addition to the assets presented, SEI also administers an additional $13.8 billion of average assets in Funds of Funds assets during second-quarter 2026 on which SEI does not earn an administration fee. (E) Client assets under administration related to the Family Office Services business divested on June 30, 2025. (F) Beginning in second-quarter 2026, average assets related to Stratos Wealth Holdings are no longer reported on a one month lag. Prior period average assets have been revised to conform with the current period presentation. SALES EVENTS (In thousands) (Unaudited) Net Recurring Sales Events 2nd Qtr. 2025 3rd Qtr. 2025 4th Qtr. 2025 1st Qtr. 2026 2nd Qtr. 2026 Investment Processing-related Businesses: Investment Managers $21,928 $27,460 $19,150 $46,848 $27,856 Private Banks 254 (6,713) 5,670 1,571 4,207 Total Investment Processing-related Businesses $22,182 $20,747 $24,820 $48,419 $32,063 Asset Management-related Businesses: Private Banks-AMD ($174) ($1,674) ($1,567) $1,983 $2,938 Investment Advisors (1,654) 1,230 (728) 7,044 (1,685) Institutional Investors 2,544 (594) (5,025) (2,935) (1,102) Total Asset Management-related Businesses $716 ($1,038) ($7,320) $6,092 $151 Newer Initiatives: Investments in New Businesses $1,245 $1,208 $1,248 $2,631 $361 Total Net Recurring Sales Events $24,143 $20,917 $18,748 $57,142 $32,575 Professional Services Sales Events 2nd Qtr. 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 2025 2025 2025 2026 2026 Investment Processing-related Businesses: Investment Managers $1,102 $2,465 $1,347 $3,672 $4,179 Private Banks 2,373 7,087 23,409 4,950 5,934 Total Investment Processing-related Businesses $3,475 $9,552 $24,756 $8,622 $10,113 Newer Initiatives: Investments in New Businesses $1,552 $71 $95 $1,389 $768 Total Professional Services Sales Events $5,027 $9,623 $24,851 $10,011 $10,881 Total Sales Events 2nd Qtr. 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 2025 2025 2025 2026 2026 Investment Processing-related Businesses: Investment Managers $23,030 $29,925 $20,497 $50,520 $32,035 Private Banks 2,627 374 29,079 6,521 10,141 Total Investment Processing-related Businesses $25,657 $30,299 $49,576 $57,041 $42,176 Asset Management-related Businesses: Private Banks-AMD ($174) ($1,674) ($1,567) $1,983 $2,938 Investment Advisors (1,654) 1,230 (728) 7,044 (1,685) Institutional Investors 2,544 (594) (5,025) (2,935) (1,102) Total Asset Management-related Businesses $716 ($1,038) ($7,320) $6,092 $151 Newer Initiatives: Investments in New Businesses $2,797 $1,279 $1,343 $4,020 $1,129 Total Sales Events $29,170 $30,540 $43,599 $67,153 $43,456 Non-GAAP Information & Reconciliations (In thousands, except per share data) (Unaudited) We present certain non-GAAP financial measures to supplement the consolidated financial statements prepared in accordance with GAAP. Management believes these measures provide useful information to investors by enhancing the understanding of our core operating performance and facilitating comparisons across reporting periods. These non-GAAP measures are also used by our management to evaluate operating results, allocate resources, and assess performance against strategic objectives. These non-GAAP financial measures should be viewed in addition to, and not as a substitute for, reported results prepared in accordance with GAAP. The following schedules reconcile U.S. GAAP financial measures to non-GAAP financial measures for the three and six months ended June 30, 2026 and 2025: For the Three Months Ended June 30, For the Six Months Ended June 30, 2026 2025 2026 2025 Net income attributable to SEI Investments Company (U.S. GAAP basis) $195,658 $227,083 $370,145 $378,600 Non-GAAP adjustments: Acquisition-related: Third party costs (A) — 820 — 820 Intangible assets amortization & impairments (B) 7,057 3,157 13,691 6,606 Total acquisition-related 7,057 3,977 13,691 7,426 Gain on sale of asset/business (C) — (94,412) — (94,412) Litigation settlements and insurance proceeds (D) 3,808 (4,500) 3,808 (4,500) Income tax effect (E) (2,338) 21,142 (3,891) 20,354 Adjusted net income attributable to SEI Investments Company (non- GAAP basis) $204,185 $153,290 $383,753 $307,468 Diluted EPS (U.S. GAAP basis) $1.59 $1.78 $2.99 $2.95 Adjusted diluted EPS (non-GAAP basis) $1.66 $1.20 $3.10 $2.40 Diluted weighted average shares outstanding 123,334 127,278 123,914 128,364 Income from operations (U.S. GAAP Basis) $197,016 $148,635 $386,502 $305,732 Operating margin (U.S. GAAP Basis) 31 % 27 % 31 % 28 % Non-GAAP adjustments: Acquisition-related: Third party costs (A) — 820 — 820 Intangible assets amortization & impairments (B) 9,935 3,157 19,132 6,606 Total acquisition-related 9,935 3,977 19,132 7,426 Adjusted income from operations (non-GAAP Basis) $206,951 $152,612 $405,634 $313,158 Adjusted operating margin (non-GAAP basis) 32 % 27 % 32 % 28 % (A) This non-GAAP adjustment removes incremental and directly attributable costs incurred to execute acquisitions, such as third-party advisory, legal, accounting, valuation, and due diligence. For 2025, this non-GAAP adjustment consisted of the legal costs, advisory fees, and due diligence fees in relation to the Stratos acquisition. Management believes adjusting for these charges helps the reader's ability to understand our core operating results and increases comparability quarter to quarter. (B) This non-GAAP adjustment removes the impact of amortization expense associated with acquired intangible assets (e.g., customer relationships, technology, trade names). This non-GAAP adjustment removes only amortization recorded in the current period related to acquired intangibles from prior acquisitions. The non-GAAP adjustments in 2026 include the amortization of the acquired intangibles from the Stratos acquisition, which closed in December 2025. Management included the Stratos related amortization expense net of the 42.5% NCI adjustment for the adjusted EPS calculation. However, this adjustment is not inclusive of the NCI portion for adjusted operating margin. The associated revenues are not adjusted. Management believes adjusting for these charges helps the reader's ability to understand our core operating results and increases comparability quarter to quarter. (C) This non-GAAP adjustment removes realized gains on the sale of assets owned or entities under our control, out of the normal course of business. In 2025, the adjustment consisted of the realized gain from the sale of Family Office Services (FOS). Management believes adjusting for these gains helps the reader's ability to understand our core operating results and increases comparability quarter to quarter. (D) This non-GAAP adjustment removes individually significant litigation settlements and insurance proceeds. In 2026, this non-GAAP adjustment was related to litigation settlements. In 2025, this non-GAAP adjustment consisted of a $4.5M settlement related to a vendor matter. Management included both of these transactions as non-GAAP adjustments since they were both out of the normal course of business. Management believes adjusting for these items helps the reader's ability to understand our core operating results and increases comparability quarter to quarter. (E) Income tax effects are presented as a separate reconciling item (not netted within each adjustment). For performance measures, the tax effect reflects current and deferred tax expense commensurate with the adjusted measure of profitability. The methodology used (e.g., statutory rate, effective rate, or discrete item approach) is consistently applied. All of the above items use a systematic approach. SOURCE SEI Investments Company 21 % more press release views with Request a Demo × Modal title