Donnelley Financial Solutions, Inc.
dfinsolutions.comWhat Do They Do?
Provides software, filing and deal services, and printed regulatory communications to public and private companies, mutual funds and other regulated investment firms.
10-K for FY2025, filed Feb 17, 2026
How Do They Make Money?
Companies and regulated investment firms pay for software access over a contract period; filing and other services are generally billed when the work is completed, while print jobs are billed on shipment. Customers generally pay within 30 days or less of the invoice date.
10-K for FY2025, filed Feb 17, 2026The Company’s software solutions, including ActiveDisclosure, Arc Suite and Venue, are generally provided on a subscription basis and allow…View ↗
Certain revenue arrangements, primarily for tech-enabled services and print and distribution offerings, are recognized at a point in time…View ↗
The Company records deferred revenue when amounts are invoiced but the revenue recognition criteria are not yet met. Revenue is recognized…View ↗
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10-K for FY2025, filed Feb 17, 2026
FY2025 revenue by product or service ↗
$767M
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10-K for FY2025, filed Feb 17, 2026
$767M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Software Solutions
Recurring
10-K for FY2025, filed Feb 17, 2026 |
47%
FY2022: 34%
|
Software Solutions, FY2025
$358.4M Sources
|
Recurring |
|
Tech-enabled Services
Sold outright
10-K for FY2025, filed Feb 17, 2026 |
39%
FY2022: 46%
|
Tech-enabled Services, FY2025
$298.3M Sources
|
Sold outright |
|
Print and Distribution
Sold outright
10-K for FY2025, filed Feb 17, 2026 |
14%
FY2022: 21%
|
Print and Distribution, FY2025
$110.3M Sources
|
Sold outright |
Who Are Their Customers?
Public and private companies buy filing, compliance and transaction solutions directly. Mutual fund and other regulated investment firms buy regulatory reporting and investor communications solutions; investment-company clients include fund administrators and insurance companies.
10-K for FY2025, filed Feb 17, 2026
Do Revenues Turn Into Profits?
Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 14 cents into free cash flow.
10-K for FY2025, filed Feb 17, 2026
$141.1MView ↗
10-K for FY2025, filed Feb 17, 2026
$32.4MView ↗
10-K for FY2025, filed Feb 17, 2026
$107.8MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Jul 30, 2026
Open tableView ↗
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Jul 30, 2026
DFIN issued second-quarter results and third-quarter guidance
The company projected third-quarter net sales of $175 million to $185 million.
Sources
8-K, filed Jul 30, 2026
Total net sales $175 million to $185 millionView ↗
Shrinking. Revenue fell 23% in 4 years, from $993.3M in FY2021 to $767M in FY2025, about 6% a year.
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