Reports Q2 revenue $218.1M, consensus $225.53M. “We continue to see proof points that support the success of our software-focused strategy. We delivered quarterly software solutions net sales of $92.2M, an increase of 7.7% compared to Q2 2024, driven by the continued momentum in our recurring compliance software products ActiveDisclosure and Arc Suite, which grew approximately 15% in aggregate. Venue delivered strong sequential net sales improvement which resulted in nearly flat year-over-year sales despite overlapping a robust Q2 2024 performance. Software solutions net sales made up 42.3% of Q2 2025 total net sales, an increase from 35.3% in last year’s Q2 sales mix and positions us well to achieve our long-term target of deriving 60% of revenue from software by 2028,” said CEO Daniel Leib. “We are encouraged by the improving trend in market activity as the quarter progressed, despite persistent macroeconomic headwinds and market uncertainty that continued to suppress the demand for our transactionally-driven offerings…We delivered Adjusted EBITDA margin of 35.0% in the quarter, which reflects our evolving sales mix and permanent changes to our cost structure. Additionally, improved working capital management combined with lower capital expenditures resulted in year-over-year increases in both operating cash flow and free cash flow…we are encouraged by the level of capital markets transactional activity so far in Q3, a continuation of the stabilization we saw across May and June”.
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