Blog  •  November 05, 2021

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Reflections on DFIN Q3 Earnings

I am so proud of the DFIN team for delivering a record quarter. The numbers tell a powerful story: net sales up 18.2 percent year over year, record quarterly software solutions net sales, and net earnings of $42.2 million, up $35.1 million year over year.

Just as impressive as those numbers, though, is how we achieved them. Last month, DFIN celebrated its fifth anniversary as a standalone company. It is appropriate to take a moment to reflect on how far we’ve come.

DFIN began independent operations as the world was rapidly transforming, becoming digital in many dimensions. We had clients who relied on our traditional products – and we were (and are) committed to serving them. At the same time, we knew that we had to reinvent ourselves to take advantage of the remarkable advances in cloud, AI and other technologies.

And reinvent ourselves we did. We established strong partnerships and built one of the best teams in the business. We created a leading-edge software business. You saw the results of that effort this quarter, as growth of ActiveDisclosure sales accelerated, driven by client transitions to the ActiveDisclosure platform and new client wins.

In 2021 alone we’ve supported an amazing roster of IPOs – from Oscar Health, Bumble and Toast to Oatly, Shoals Technolgies and DLocal. We’ve supported nine out of the top 10 offerings in healthcare and seven of the top ten offerings in the consumer segment. And the real story here is the link back to our Software growth. Our Transactional business is driving recurring software revenue.

As we look to finish out the year, I am very confident about the future. DFIN will continue to innovate for our clients and deliver for our employees, partners and all stakeholders.


Craig Clay

President Global Capital Markets, DFIN