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SEI Investments (NASDAQ: SEIC) delivers double-digit Q1 2026 revenue, EPS and margin growth

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

SEI Investments Company reported strong first-quarter 2026 results with broad-based growth. Revenue rose 13% year over year to $622.2 million, while income from operations increased 21% to $189.5 million. Diluted EPS reached $1.40, up 20% from the prior-year quarter.

On a non-GAAP basis, adjusted EPS was $1.44, up 21%, and adjusted income from operations grew 24% with the adjusted operating margin improving to 32%. Assets under management were $554.1 billion, and administration, platform, and advisement assets totaled $1.336 trillion. SEI also repurchased 2.6 million shares for $208.3 million.

Positive

  • Strong earnings and margin expansion: Q1 2026 revenue grew 13% to $622.2M, GAAP EPS rose 20% to $1.40, adjusted EPS increased 21% to $1.44, and adjusted operating margin expanded to 32%, indicating improved profitability.
  • Record sales momentum and asset growth: Net sales events reached $67.2M, including $57.1M recurring at record levels, while administration, platform, and advisement assets increased to about $1.336T, supporting future fee revenues.

Negative

  • None.

Insights

SEI posts double-digit revenue, EPS, and margin growth in Q1 2026.

SEI Investments Company delivered a notable Q1 2026, with revenue of $622.2 million up 13% and income from operations up 21%. Diluted EPS increased from $1.17 to $1.40, while adjusted EPS rose to $1.44, up 21% year over year.

Profitability improved meaningfully. GAAP operating margin expanded from 28% to about 30%, and adjusted operating margin moved from 29% to 32%. Segment data show revenue and operating profit growth across Investment Managers, Private Banks, Investment Advisors, and Institutional Investors, despite lower contributions from Investments in New Businesses.

Business activity indicators were strong. Net sales events reached $67.2 million, including $57.1 million recurring, both record levels. Assets under management stood at $554.1 billion, essentially flat sequentially, while administration, platform, and advisement assets reached $1.336 trillion, up 19.3% year over year. SEI also returned capital by repurchasing 2.6 million shares for $208.3 million, supported by cash and a conservative balance sheet.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Revenue $622.2M Q1 2026, up 13% year over year
Income from operations $189.5M Q1 2026, up 21% year over year
Diluted EPS $1.40 Q1 2026, up 20% from $1.17 in Q1 2025
Adjusted diluted EPS $1.44 Q1 2026, up 21% from $1.19 in Q1 2025
Adjusted operating margin 32% Q1 2026, up from 29% in Q1 2025
Assets under management $554.1B Q1 2026 period-end balance
Admin, platform & advisement assets $1.336T Q1 2026, up 19.3% year over year
Net sales events $67.2M Q1 2026 total, including $57.1M recurring
non-GAAP financial
"We present certain non‑GAAP financial measures to supplement the consolidated financial statements prepared in accordance with GAAP."
Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.
adjusted operating margin financial
"Adjusted operating margin increasing to 32%."
Adjusted operating margin shows how much profit a company makes from its core business activities, after removing unusual or one-time costs and income. It helps investors see the company's true profitability by providing a clearer picture, similar to removing unexpected expenses to understand the regular performance. This metric is useful for comparing companies or tracking performance over time, as it highlights consistent earning power.
net sales events financial
"First quarter net sales events totaled $67.2 million, with $57.1 million of that total being recurring;"
assets under administration financial
"Ending assets under administration increased by 4%, and ending assets under management was flat from Q4 to Q1."
Assets under administration (AUA) is the total market value of clients’ investments and accounts that a financial firm oversees for recordkeeping, reporting, and transaction processing without necessarily deciding how the money is invested. Think of it like a warehouse that stores and tracks other people’s goods: bigger AUA shows a firm’s scale, steady fee potential and client trust, so changes can signal growing business or client withdrawals that matter to investors.
variable interest entities financial
"Net gain from consolidated variable interest entities | 2,079 | | | — |"
A variable interest entity (VIE) is a business that a company controls through contracts or special arrangements instead of owning a majority of its shares, like steering a puppet without holding its ticket. Investors care because these arrangements can hide who really bears the financial risks and rewards, affect how assets and liabilities appear on financial statements, and create extra legal or enforcement uncertainty that can change the value and risk of an investment.
performance fees financial
"Performance fees, typically lowest in Q1, totaled $1 at SEI’s share."
Revenue $622.2M +13% YoY
Income from operations $189.5M +21% YoY
GAAP diluted EPS $1.40 +20% YoY
Adjusted diluted EPS $1.44 +21% YoY
GAAP operating margin 30% +2 percentage points YoY vs 28%
Adjusted operating margin 32% +3 percentage points YoY vs 29%
Net sales events $67.2M +44.2% YoY
Assets under management $554.1B +14.0% YoY
Admin, platform & advisement assets $1.336T +19.3% YoY
Understanding 8-K Material Events →
0000350894FALSE00003508942026-01-282026-01-28

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________________________
FORM 8-K
________________________________________
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
April 22, 2026
Date of report (Date of earliest event reported)
________________________________________
GIF_sei_logo_final_black.gif
________________________________________
SEI INVESTMENTS COMPANY
(Exact name of registrant as specified in charter)
________________________________________
Pennsylvania 0-10200 23-1707341
(State or Other Jurisdiction
of Incorporation)
 (Commission
File Number)		 (I.R.S. Employer
Identification No.)
1 Freedom Valley Drive
Oaks, Pennsylvania 19456
(Address of Principal Executive Offices and Zip Code)
(610) 676-1000
(Registrants’ Telephone Number, Including Area Code)
________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $0.01 per shareSEICThe NASDAQ Stock Market LLC



Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02.    Results of Operations and Financial Condition.
On Wednesday, April 22, 2026, SEI Investments Company (the "Company") issued a press release announcing its financial and operating results for the first quarter ended March 31, 2026. A copy of the press release is furnished as Exhibit 99.1 and incorporated in this Item 2.02 by reference. A recording of the earnings call referenced in the press release furnished as Exhibit 99.1 is available for replay on the Company’s website at ir.seic.com/events-presentations/events.
As provided in General Instruction B.2 to Form 8-K, the information furnished in this Item 2.02 and Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing with the Securities and Exchange Commission, except as shall be expressly provided by specific reference in such filing.

Item 7.01.    Regulation FD Information.
A copy of an earnings presentation that is intended to be used by representatives of the Company is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference.
The information furnished pursuant to Item 7.01 and Exhibit 99.2 hereof shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing with the Securities and Exchange Commission, except as shall be expressly provided by specific reference in such filing.
Item 9.01.    Financial Statements and Exhibits.
Exhibit No.Description
99.1
Press Release dated April 22, 2026 of SEI Investments Company related to the Company's financial and operating results for the first quarter ended March 31, 2026
99.2
Earnings Presentation of SEI Investments Company for the first quarter ended March 31, 2026
104  Cover Page Interactive Data File (embedded within the Inline XBRL document)



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SEI INVESTMENTS COMPANY
Date:April 22, 2026By:/s/ Sean J. Denham
Sean J. Denham
Chief Financial and Chief Operating Officer






headerimage_v1-01a.jpg
SEI Reports First-Quarter 2026 Financial Results

OAKS, Pa., Apr. 22, 2026 – SEI Investments Company (NASDAQ:SEIC) today announced financial results for the first quarter 2026. Relative to the first quarter 2025, EPS increased by 20%, and revenue and operating income grew by 13% and 21%, respectively, with operating margin increasing to 30%. On an adjusted basis, EPS and operating income grew 21% and 24%, respectively, with the adjusted operating margin increasing to 32%.
Consolidated Overview
(In thousands, except earnings per share)
For the Three Months Ended March 31,
2026
2025
%
U.S. GAAP Basis
Revenues
$622,183 
$551,344 
13%
Income from operations
189,486 
157,097 
21%
Operating margin
30 
%
28 
%
7%
Net income attributable to SEI Investments
174,487 
151,517 
15%
Diluted earnings per share
$1.40 
$1.17 
20%
Non-GAAP Basis(1)
Adjusted income from operations
$198,683 
$160,546 
24%
Adjusted diluted earnings per share
$1.44 
$1.19 
21%
Adjusted operating margin
32 
%
29 
%
10%
(1) See Non-GAAP Information and Reconciliations on pgs 10-11

“We began 2026 with a defining quarter for SEI, validating our strategy, execution, and the scalability of our operating model. We delivered strong earnings growth, meaningful margin expansion, and incredible sales results, driven by broad-based momentum across our core growth engines," said CEO Ryan Hicke.
"Client demand for outsourcing, technology and administrative excellence, and professional services continues to accelerate. Additionally, evidence of progress in asset management is building, and our ongoing investment in AI and automation is strengthening the foundation of a more nimble, innovative, scalable, and resilient enterprise. We believe SEI is well positioned to deliver sustained value for our clients, employees, and shareholders.”
1


Summary of First-Quarter Results by Business Segment

(In thousands)
For the Three Months
Ended March31,
2026
2025
%
Investment Managers:
Revenues
$220,717 
$192,048 
15%
Expenses
133,839 
117,211 
14%
Operating Profit
86,878 
74,837 
16%
Operating Margin
39 
%
39 
%
Private Banks:
Revenues
152,262 
137,714 
11%
Expenses
120,031 
114,749 
5%
Operating Profit
32,231 
22,965 
40%
Operating Margin
21 
%
17 
%
Investment Advisors:
Revenues
169,695 
136,576 
24%
Expenses
96,357 
72,455 
33%
Non-controlling interests and other, net (A)
1,337 
— 
NM*
Operating Profit
72,001 
64,121 
12%
Operating Margin
42 
%
47 
%
Institutional Investors:
Revenues
71,516 
68,506 
4%
Expenses
37,137 
35,870 
4%
Operating Profit
34,379 
32,636 
5%
Operating Margin
48 
%
48 
%
Investments in New Businesses:
Revenues
7,993 
16,500 
(52)%
Expenses
9,193 
18,496 
(50)%
Operating Loss
(1,200)
(1,996)
(40)%
Totals:
Revenues
$622,183 
$551,344 
13%
Expenses
396,557 
358,781 
11%
Corporate Overhead Expenses
36,140 
35,466 
2%
Income from operations (B)
$189,486 
$157,097 
21%
Adjusted income from operations
$198,683 
$160,546 
24%
(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.
2


First-Quarter Business Highlights:
•SEI started the year with strong quarterly performance, achieving diluted EPS of $1.40, up 20% from the prior year. On an adjusted basis, EPS increased by 21% relative to the prior year, driven by strong topline growth and margin expansion across SEI's businesses.
•First quarter net sales events totaled $67.2 million, with $57.1 million of that total being recurring; both the total sales events and recurring sales events represent record levels for SEI.
◦Private Banks net sales events totaled $6.5 million, reflecting continued demand across SEI’s full suite of capabilities, including enterprise‑wide professional services, implementation services, and the SEI Wealth PlatformSM. Of the $4.0 million of net sales events within Investments in New Businesses, $1.4 million were won in partnership with Private Banking.
◦Investment Managers led the quarter with $50.5 million of net sales events, driven by multiple enterprise-level mandates with first-time outsourcers. These larger wins were supplemented with contributions from both the IMS traditional and alternatives business, both in the US and globally.
◦Investment Advisors net sales events of $7.0 million demonstrate continued progress in SEI's asset management offering, with Q1 momentum driven by ETFs, SMAs, and custody-only solutions. Institutional Investors recorded negative $2.9 million of net sales events, driven by a large defined benefit client meeting their funding objectives and annuitizing their plan.
•Consolidated revenues and operating income increased by 13% and 21%, respectively, from Q1 2025. On an adjusted basis, operating income increased by 24% from Q1 2025, with SEI's adjusted operating margin increasing to 32%, up 281 bps. Across all business segments, both revenue and operating profit increased vs. Q1 2025.
◦Private Banking revenue increased 11% and operating margins increased 449 bps vs. Q1 2025, driving operating profit 40% higher. Strong growth reflects a growing contribution from professional services, including the record wins achieved in Q4 of last year, and continued execution against Private Banking's five-pillar margin enhancement strategy.
◦Investment Managers delivered double-digit revenue and operating profit growth vs. last year, as sales event momentum translates into financial performance. The slight margin decline vs. Q4 2025 was expected and primarily driven by the Q4 2025 revenue accrual true-up which did not recur in first quarter.
◦Investment Advisors posted 24% revenue and 12% operating profit growth versus the prior year, although comparisons are impacted by the first full quarter of Stratos results. During the quarter, Stratos contributed $19.0 million to revenue and $3.1 million to operating profit, which includes $6.0 million of expense associated with acquired intangible asset amortization, before considering non-controlling interest. SEI's integrated cash program contributed $20.4 million, consistent with Q3 2025 and Q4 2025.
◦Institutional Investors generated single-digit revenue and operating profit growth compared to the prior year driven by market appreciation and cost discipline.
•Ending assets under administration increased by 4%, and ending assets under management was flat from Q4 to Q1. AUA growth was driven primarily by strong client win momentum. Ending AUM as of Q1 was essentially flat with Q4, as healthy net inflows in Advisors offset market depreciation in March.
•SEI repurchased 2.6 million shares of common stock for $208.3 million during the first quarter 2026 at an average price of $81.55 per share.
3



Earnings Conference Call
A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on
Apr. 22, 2026. Analysts and investors are invited to join the call by completing the registration form. The public is invited to review the presentation and listen to the call and replay at ir.seic.com/events-presentations/events.
Link for registration form: https://register-conf.media-server.com/register/BI47d1ce35e5544d58aa8cc411a54ff9cf

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 Mar. 31, 2026, SEI manages, advises, or administers approximately $1.9 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 demand for our products and solutions;
•the degree to which our investments are strengthening the foundation of a more nimble, innovative, scalable and resilient enterprise;
•whether we are positioned to deliver sustained value for our clients, employees and shareholders; 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 Dec. 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
bburke2@seic.com                        arudd@seic.com
4


SEI INVESTMENTS COMPANY
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data) (Unaudited)
For the Three Months Ended March 31,
2026
2025
Asset management, admin. and distribution fees
$497,984 
$432,143 
Information processing and software servicing fees
124,199 
119,201 
Total revenues
622,183 
551,344 
Subadvisory, distribution and other asset mgmt. costs
56,746 
47,532 
Software royalties and other information processing costs
9,932 
9,081 
Compensation, benefits and other personnel
206,315 
190,784 
Stock-based compensation
14,496 
14,138 
Consulting, outsourcing and professional fees
54,403 
56,001 
Data processing and computer related
44,873 
39,319 
Facilities, supplies and other costs
20,322 
18,755 
Amortization
18,354 
10,710 
Depreciation
7,256 
7,927 
Total expenses
432,697 
394,247 
Income from operations
189,486 
157,097 
Net (loss) gain from investments
(369)
493 
Interest and dividend income
7,162 
10,221 
Interest expense
(473)
(185)
Other income
450 
— 
Equity in earnings of unconsolidated affiliates
32,476 
28,747 
Net gain from consolidated variable interest entities
2,079 
— 
Income before income taxes
230,811 
196,373 
Income taxes
54,024 
44,856 
Net income
$176,787 
$151,517 
Less: Net income attributable to non-controlling interests
2,300 
— 
Net income attributable to SEI Investments Company
$174,487 
$151,517 
Basic earnings per common share
$1.43 
$1.20 
Shares used to calculate basic earnings per share
121,659 
126,561 
Diluted earnings per common share
$1.40 
$1.17 
Shares used to calculate diluted earnings per share
124,494 
129,450 
5


SEI INVESTMENTS COMPANY
CONSOLIDATED CONDENSED BALANCE SHEETS
(In thousands) (Unaudited)
March 31,
December 31,
2026
2025
Assets
Current Assets:
Cash and cash equivalents
$363,149 
$399,804 
Receivables from investment products
55,126 
63,317 
Receivables, net
710,083 
709,748 
Securities owned
32,093 
33,777 
Other current assets
73,107 
66,691 
Total Current Assets
1,233,558 
1,273,337 
Property and Equipment, net
149,415 
150,434
Operating Lease Right-of-Use Assets
34,669 
26,447 
Capitalized Software, net
230,746 
234,272 
Investments
331,371 
428,004 
Assets of Consolidated Variable Interest Entities
214,921 
183,994 
Goodwill
388,380 
354,989 
Intangible assets, net
479,517 
368,272 
Other Assets, net
212,677 
240,095 
Total Assets
$3,275,254 
$3,259,844 
Liabilities, Redeemable Non-controlling Interests and Equity
Current Liabilities:
Accounts payable
$6,685 
$5,404 
Accrued liabilities
237,722 
359,823 
Current portion of long-term operating lease liabilities
10,054 
8,677 
Deferred revenue
18,360 
13,307 
Total Current Liabilities
272,821 
387,211 
Long-term Debt
32,415 
— 
Liabilities of Consolidated Variable Interest Entities
136,542 
108,504 
Other Long-term Liabilities
76,791 
60,353 
Total Liabilities
518,569 
556,068 
Redeemable Non-controlling Interests
269,901 
243,959 
Equity:
Shareholders' Equity:
Common stock, $0.01 par value, 750,000 shares authorized; 120,386 and 122,232 shares issued and outstanding
1,204 
1,222 
Capital in excess of par value
1,696,702 
1,678,787 
Retained earnings
781,778 
792,280 
Accumulated other comprehensive loss, net
(29,430)
(24,505)
Total SEI Shareholders' Equity
2,450,254 
2,447,784 
Non-controlling interests
36,530 
12,033 
Total Equity
$2,486,784 
$2,459,817 
Total Liabilities, Redeemable Non-controlling Interests and Equity
$3,275,254 
$3,259,844 
6


ENDING ASSET BALANCES
(In millions) (Unaudited)
Mar. 31
Jun. 30
Sep. 30
Dec. 31
Mar. 31
2025
2025
2025
2025
2026
Investment Managers:
Collective trust fund programs (A)
$209,491 
$225,690 
$237,964 
$243,244 
$243,900 
Liquidity funds
244 
307 
418 
579 
536 
Total assets under management
$209,735 
$225,997 
$238,382 
$243,823 
$244,436 
Client assets under administration
1,061,067 
1,128,325 
1,204,843 
1,239,606 
1,284,781 
Total assets
$1,270,802 
$1,354,322 
$1,443,225 
$1,483,429 
$1,529,217 
Private Banks:
Equity and fixed-income programs
$25,590 
$27,839 
$28,408 
$29,832 
$29,753 
Collective trust fund programs
4 
3 
3 
3 
4 
Liquidity funds
3,670 
2,796 
2,802 
2,099 
2,178 
Total assets under management
$29,264 
$30,638 
$31,213 
$31,934 
$31,935 
Client assets under administration
8,365 
8,431 
8,902 
9,115 
9,143 
Total assets
$37,629 
$39,069 
$40,115 
$41,049 
$41,078 
Investment Advisors:
Equity and fixed-income programs
$75,689 
$80,618 
$85,245 
$86,879 
$86,612 
Liquidity funds
3,153 
3,457 
3,391 
3,561 
3,485 
Total Platform assets under management
$78,842 
$84,075 
$88,636 
$90,440 
$90,097 
Platform-only assets
25,591 
29,848 
32,152 
33,582 
34,070 
Platform-only assets-deposit program
2,216 
2,155 
2,165 
2,461 
2,294 
Total Platform assets
$106,649 
$116,078 
$122,953 
$126,483 
$126,461 
Institutional Investors:
Equity and fixed-income programs
$76,492 
$80,112 
$82,676 
$84,254 
$82,195 
Liquidity funds
1,580 
1,768 
1,580 
1,604 
1,503 
Total assets under management
$78,072 
$81,880 
$84,256 
$85,858 
$83,698 
Client assets under advisement
5,573 
6,090 
6,564 
3,598 
3,549 
Total assets
$83,645 
$87,970 
$90,820 
$89,456 
$87,247 
Investments in New Businesses:
Equity and fixed-income programs
$2,661 
$2,867 
$2,999 
$3,044 
$3,087 
Liquidity funds
288 
244 
244 
316 
252 
Total assets under management
$2,949 
$3,111 
$3,243 
$3,360 
$3,339 
Client assets under administration (E)
14,846 
— 
— 
— 
— 
Client assets under advisement
2,219 
2,593 
2,452 
2,389 
2,185 
Total assets
$20,014 
$5,704 
$5,695 
$5,749 
$5,524 
LSV Asset Management:
Equity and fixed-income programs (B)
$87,114 
$91,795 
$95,801 
$99,196 
$100,567 
Stratos Wealth Holdings (F)
$— 
$— 
$— 
$38,377 
$39,935 
Total:
Equity and fixed-income programs (C)
$267,546 
$283,231 
$295,129 
$303,205 
$302,214 
Collective trust fund programs
209,495 
225,693 
237,967 
243,247 
243,904 
Liquidity funds
8,935 
8,572 
8,435 
8,159 
7,954 
Total assets under management
$485,976 
$517,496 
$541,531 
$554,611 
$554,072 
Client assets under advisement
7,792 
8,683 
9,016 
5,987 
5,734 
Client assets under administration (D)
1,084,278 
1,136,756 
1,213,745 
1,248,721 
1,293,924 
Platform-only assets
27,807 
32,003 
34,317 
36,043 
36,364 
Stratos Wealth Holdings
— 
— 
— 
38,377 
39,935 
Total assets
$1,605,853 
$1,694,938 
$1,798,609 
$1,883,739 
$1,930,029 
(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 $1.4 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 March 31, 2026).
(C)Equity and fixed-income programs include $8.3 billion of assets in various asset allocation funds (as of March 31, 2026).
(D)    In addition to the assets presented, SEI also administers an additional $13.3 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of March 31, 2026).
(E)    Client assets under administration related to the Family Office Services business divested on June 30, 2025.
(F)    Stratos Wealth Holdings is a family of companies that provide financial services to $39.9 billion in client assets across business models and affiliation structures (as of February 28, 2026).
7


AVERAGE ASSET BALANCES
(In millions) (Unaudited)
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2025
2025
2025
2025
2026
Investment Managers:
Collective trust fund programs (A)
$208,720 
$215,085 
$231,088 
$240,285 
$248,851 
Liquidity funds
256 
288 
385 
492 
565 
Total assets under management
$208,976 
$215,373 
$231,473 
$240,777 
$249,416 
Client assets under administration
1,061,282 
1,098,925 
1,174,961 
1,225,392 
1,280,581 
Total assets
$1,270,258 
$1,314,298 
$1,406,434 
$1,466,169 
$1,529,997 
Private Banks:
Equity and fixed-income programs
$25,894 
$26,533 
$28,051 
$29,087 
$30,696 
Collective trust fund programs
4 
3 
3 
3 
3 
Liquidity funds
2,961 
2,771 
2,834 
2,371 
2,150 
Total assets under management
$28,859 
$29,307 
$30,888 
$31,461 
$32,849 
Client assets under administration
8,488 
8,266 
8,665 
8,977 
9,282 
Total assets
$37,347 
$37,573 
$39,553 
$40,438 
$42,131 
Investment Advisors:
Equity and fixed-income programs
$77,287 
$76,629 
$82,735 
$85,896 
$88,403 
Liquidity funds
3,119 
3,464 
3,378 
3,418 
3,518 
Total Platform assets under management
$80,406 
$80,093 
$86,113 
$89,314 
$91,921 
Platform-only assets
25,939 
27,288 
30,874 
33,022 
34,485 
Platform-only assets-deposit program
2,187 
2,152 
2,136 
2,135 
2,309 
Total Platform assets
$108,532 
$109,533 
$119,123 
$124,471 
$128,715 
Institutional Investors:
Equity and fixed-income programs
$76,493 
$77,843 
$80,802 
$83,739 
$84,393 
Liquidity funds
1,655 
1,853 
1,810 
1,947 
1,941 
Total assets under management
$78,148 
$79,696 
$82,612 
$85,686 
$86,334 
Client assets under advisement
5,741 
5,841 
6,274 
5,413 
3,657 
Total assets
$83,889 
$85,537 
$88,886 
$91,099 
$89,991 
Investments in New Businesses:
Equity and fixed-income programs
$2,801 
$2,732 
$2,934 
$3,021 
$3,106 
Liquidity funds
274 
244 
255 
288 
319 
Total assets under management
$3,075 
$2,976 
$3,189 
$3,309 
$3,425 
Client assets under administration (E)
14,630 
14,917 
— 
— 
— 
Client assets under advisement
2,205 
2,329 
2,428 
2,408 
2,335 
Total assets
$19,910 
$20,222 
$5,617 
$5,717 
$5,760 
LSV Asset Management:
Equity and fixed-income programs (B)
$87,790 
$89,422 
$92,969 
$97,304 
$104,619 
Stratos Wealth Holdings (F)
$— 
$— 
$— 
$38,085 
$39,115 
Total:
Equity and fixed-income programs (C)
$270,265 
$273,159 
$287,491 
$299,047 
$311,217 
Collective trust fund programs
208,724 
215,088 
231,091 
240,288 
248,854 
Liquidity funds
8,265 
8,620 
8,662 
8,516 
8,493 
Total assets under management
$487,254 
$496,867 
$527,244 
$547,851 
$568,564 
Client assets under advisement
7,946 
8,170 
8,702 
7,821 
5,992 
Client assets under administration (D)
1,084,400 
1,122,108 
1,183,626 
1,234,369 
1,289,863 
Platform-only assets
28,126 
29,440 
33,010 
35,157 
36,794 
Stratos Wealth Holdings
— 
— 
— 
38,085 
39,115 
Total assets
$1,607,726 
$1,656,585 
$1,752,582 
$1,863,283 
$1,940,328 
(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 first-quarter 2026 include $1.5 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 $8.2 billion of average assets in various asset allocation funds during first-quarter 2026.
(D)    In addition to the assets presented, SEI also administers an additional $13.2 billion of average assets in Funds of Funds assets during first-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)    Stratos Wealth Holdings is a family of companies that provide financial services to $39.1 billion in client assets across business models and affiliation structures during first-quarter 2026 through February 28, 2026.
8


SALES EVENTS
(In thousands) (Unaudited)
Net Recurring Sales Events
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2025
2025
2025
2025
2026
Investment Processing-related Businesses:
Investment Managers
$25,296 
$21,928 
$27,460 
$19,150 
$46,848 
Private Banks
7,059 
254 
(6,713)
5,670 
1,571 
Total Investment Processing-related Businesses
$32,355 
$22,182 
$20,747 
$24,820 
$48,419 
Asset Management-related Businesses:
Private Banks-AMD
($58)
($174)
($1,674)
($1,567)
$1,983 
Investment Advisors
888 
(1,654)
1,230 
(728)
7,044 
Institutional Investors
41 
2,544 
(594)
(5,025)
(2,935)
Total Asset Management-related Businesses
$871 
$716 
($1,038)
($7,320)
$6,092 
Newer Initiatives:
Investments in New Businesses
$3,614 
$1,245 
$1,208 
$1,248 
$2,631 
Total Net Recurring Sales Events
$36,840 
$24,143 
$20,917 
$18,748 
$57,142 
Professional Services Sales Events
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2025
2025
2025
2025
2026
Investment Processing-related Businesses:
Investment Managers
$835 
$1,102 
$2,465 
$1,347 
$3,672 
Private Banks
7,060 
2,373 
7,087 
23,409 
4,950 
Total Investment Processing-related Businesses
$7,895 
$3,475 
$9,552 
$24,756 
$8,622 
Newer Initiatives:
Investments in New Businesses
$1,834 
$1,552 
$71 
$95 
$1,389 
Total Professional Services Sales Events
$9,729 
$5,027 
$9,623 
$24,851 
$10,011 
Total Sales Events
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2025
2025
2025
2025
2026
Investment Processing-related Businesses:
Investment Managers
$26,131 
$23,030 
$29,925 
$20,497 
$50,520 
Private Banks
14,119 
2,627 
374 
29,079 
6,521 
Total Investment Processing-related Businesses
$40,250 
$25,657 
$30,299 
$49,576 
$57,041 
Asset Management-related Businesses:
Private Banks-AMD
($58)
($174)
($1,674)
($1,567)
$1,983 
Investment Advisors
888 
(1,654)
1,230 
(728)
7,044 
Institutional Investors
41 
2,544 
(594)
(5,025)
(2,935)
Total Asset Management-related Businesses
$871 
$716 
($1,038)
($7,320)
$6,092 
Newer Initiatives:
Investments in New Businesses
$5,448 
$2,797 
$1,279 
$1,343 
$4,020 
Total Sales Events
$46,569 
$29,170 
$30,540 
$43,599 
$67,153 


9


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 each quarter in 2026 and 2025:
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
1st Qtr.
2025
2025
2025
2025
2025
2026
Net income attributable to SEI Investments Company (U.S. GAAP basis)
$151,517 
$227,083 
$164,204 
$172,501 
$715,305 
$174,487 
Non-GAAP adjustments:
Acquisition-related:
Third party costs (A)
— 
820 
3,767 
7,339 
11,926 
— 
Intangible assets amortization & impairments (B)
3,449 
3,157 
3,168 
4,216 
13,990 
6,634 
Total acquisition-related
3,449 
3,977 
6,935 
11,555 
25,916 
6,634 
Gain on sale of asset/business (C)
— 
(94,412)
— 
— 
(94,412)
— 
Litigation settlements and insurance proceeds (D)
— 
(4,500)
(4,350)
— 
(8,850)
— 
Severance and related costs (E)
— 
— 
— 
13,600 
13,600 
— 
Income tax effect (F)
(788)
21,142 
(567)
(5,300)
14,487 
(1,553)
Adjusted net income attributable to SEI Investments Company (non-GAAP basis)
$154,178 
$153,290 
$166,222 
$192,356 
$666,046 
$179,568 
Diluted EPS (U.S. GAAP basis)
$1.17 
$1.78 
$1.30 
$1.38 
$5.63 
$1.40 
Adjusted diluted EPS (non-GAAP basis)
$1.19 
$1.20 
$1.32 
$1.54 
$5.25 
$1.44 
Diluted weighted average shares outstanding
129,450
127,278
126,325
125,251
127,076
124,494
Income from operations (U.S. GAAP Basis)
$157,097 
$148,635 
$159,961 
$161,618 
$627,311 
$189,486 
Operating margin (U.S. GAAP Basis)
28 
%
27 
%
28 
%
27 
%
27 
%
30 
%
Non-GAAP adjustments:
Acquisition-related:
Third party costs (A)
— 
820 
3,767 
7,339 
11,926 
— 
Intangible assets amortization & impairments (B)
3,449 
3,157 
3,168 
5,002 
14,776 
9,197 
Total acquisition-related
3,449 
3,977 
6,935 
12,341 
26,702 
9,197 
Severance and related costs (E)
— 
— 
— 
13,600 
13,600 
— 
Adjusted income from operations (non-GAAP Basis)
$160,546 
$152,612 
$166,896 
$187,559 
$667,613 
$198,683 
Adjusted operating margin (non-GAAP basis)
29 
%
27 
%
29 
%
31 
%
29 
%
32 
%


10


Non-GAAP Information & Reconciliations
(In thousands, except per share data) (Unaudited)
The following schedules reconcile U.S. GAAP financial measures to Non-GAAP financial measures for each quarter in 2024:
1st Qtr.
2nd Qtr.
3rd Qtr.
4th Qtr.
2024
2024
2024
2024
2024
Net income attributable to SEI Investments Company (U.S. GAAP basis)
$131,400 
$139,120 
$154,900 
$155,771 
$581,191 
Non-GAAP adjustments:
Acquisition-related:
Intangible assets amortization & impairments (B)
3,397 
3,387 
3,276 
3,382 
13,442 
Total acquisition-related
3,397 
3,387 
3,276 
3,382 
13,442 
Gain on sale of asset/business (C)
— 
— 
(8,151)
— 
(8,151)
Income tax effect (F)
(778)
(809)
1,143 
(626)
(1,070)
Adjusted net income attributable to SEI Investments Company (non-GAAP basis)
$134,019 
$141,698 
$151,168 
$158,527 
$585,412 
Diluted EPS (U.S. GAAP basis)
$0.99 
$1.05 
$1.19 
$1.19 
$4.41 
Adjusted diluted EPS (non-GAAP basis)
$1.01 
$1.07 
$1.16 
$1.21 
$4.45 
Diluted weighted average shares outstanding
132,745
132,073
130,671
131,421
131,727
Income from operations (U.S. GAAP Basis)
$125,851 
$136,514 
$143,832 
$145,544 
$551,741 
Operating profit margin (U.S. GAAP Basis)
25 
%
26 
%
27 
%
26 
%
26 
%
Non-GAAP adjustments:
Acquisition-related:
Intangible assets amortization & impairments (B)
3,397 
3,387 
3,276 
3,382 
13,442 
Total acquisition-related
3,397 
3,387 
3,276 
3,382 
13,442 
Adjusted income from operations (non-GAAP Basis)
$129,248 
$139,901 
$147,108 
$148,926 
$565,183 
Adjusted operating margin (non-GAAP basis)
25 
%
27 
%
27 
%
27 
%
27 
%
(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 Q4 2025 and Q1 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 Q3 2024, this non-GAAP adjustment consisted of the realized gain on the sale of property in New York City, NY. In Q2 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 Q2 2025, this non-GAAP adjustment consisted of a $4.5M settlement related to a vendor matter and, in Q3 2025, this adjustment consisted of an insurance settlement. 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)    This non-GAAP adjustment includes severance, benefits, and other related personnel costs, net of the associated reversal in stock-based compensation costs. We only include the related costs when (i) part of a bona fide, company-wide cost-reduction initiative, and (ii) not expected to recur frequently. During Q4 2025, we reduced our workforce by 4% as part of a bona fide, company-wide cost reduction initiative which is not expected to recur frequently. Management believes this adjustment helps the reader's ability to understand our core operating results and increases comparability period to period.
(F)    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.
11

SEI Investments Company (NASDAQ: SEIC) Q1 2026 Earnings Presentation

 

This presentation 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," "expect," "believe," ”remain” and "continue" or "appear." Our forward-looking statements include our current expectations as to: • the standard for the financial results SEI is capable of delivering on a sustained basis and the drivers of these results; • the repeatability of our quarterly results; • our ability to consistently execute against our strategy; • the benefits of the design of our IMS client relationships, the degree to which these will expand over time and the duration of such expansion, if any; • strength of the sales momentum in our businesses and whether this momentum will continue; • our Institutional business achieving net positive flows and the timing of such inflection, if any; • the benefits of our partnership with IBM and application of Artificial Intelligence; • our strategic priorities and focus; • our operating approach, both domestically and internationally; • the opportunities for us in Singapore; • how we will use and deploy our capital and the reasons for our capital allocation methodologies; • the opportunities for us in the area of Artificial Intelligence and the effect our investments and experiments in Artificial Intelligence will expand our addressable markets; • the effective that our use of Artificial Intelligence will have on our margin expansion and growth; • the benefits we will derive from execution and client engagement in our Private Banks business; • the level of demand for outsourcing, investment advice and the margin sensitivity of these services; • the benefits that we and our stakeholders will receive as a consequence of our partnership with Stratos Wealth Management; • our ability to create operating leverage in our businesses; • the potential consequences resulting from our exposure to private credit and the demand for our services from our private credit clients; • the effects of the expansion of our product lineup and distribution capabilities in our Asset Management business and the duration of these effects; • the benefits we will receive from our global capabilities center and the timing of these benefits, if any; • our 2026 priorities and commitment to these priorities; • the effects of early April market performance on our average asset levels and whether such effects will continue, if at all; • the degree to which partnering with clients in an advisory capacity will lead to larger and/or longer professional services engagements; • the market dynamics affecting our businesses; • our ability to improve our consolidated margins; • the strength of our pipelines; • the demand for our products and services; and • our ability to deliver long-term value for clients, employees and shareholders. 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. 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 Dec. 31, 2025, filed with the Securities and Exchange Commission. Past performance does not guarantee future results. Safe Harbor Statement 2 SEI Earnings PresentationQ1 2026

 

Q1 2026 vs. Q1 '25 vs. Q4 '25 Revenues 622.2 12.8% 2.3% Operating Income 189.5 20.6% 17.2% Adjusted Operating Income 198.7 23.8% 5.9% EPS $1.40 19.7% 1.4% Adjusted EPS $1.44 21.0% -6.2% Net Sales Events 67.2 44.2% 54.0% Operating Margin 30.5% 2.0% 3.9% Adjusted Operating Margin 31.9% 2.8% 1.1% Assets Under Management ($B) 554.1 14.0% -0.1% Administration, Platform & Advisement ($B) 1,336.0 19.3% 3.5% % Change Q1 2026 highlights SEI Earnings PresentationQ1 2026 Adjusted EPS of $1.44, up more than 20 percent year-over-year, driven by revenue growth and margin expansion Net sales events of $67 million, including $57 million recurring, more than 40 percent above the prior quarterly record Broad-based strength across core growth engines, not driven by a single market tailwind or isolated transaction Results reflect disciplined execution against the strategic priorities outlined at SEI’s Investor Day $ in millions except EPS; AUM; and Assets under administration, platform-only, and advisement; and platform-only assets. Asset values exclude impact of Stratos acquisition closed in December Operating margin % change represents improvement or decline in margin rate vs. prior period Q1 Reflects Strategic and Operating Momentum Q1 2026 financial snapshot 3See the appendix to this presentation for a description and reconciliation of non-GAAP measures

 

Earnings per share SEI Earnings PresentationQ1 2026 All businesses contributed to EPS growth year-over-year driven by strong revenue growth and margin expansion Share repurchases also a notable contributor to EPS growth vs. Q1 2025 Sequentially, EPS increased by $0.02 on a GAAP basis but declined $0.10 on an adjusted basis • Sequential decline expected due to below-the-line items that are largely seasonal in nature • LSV, tax rate, and other below- the-line items drove a combined $0.15 headwind vs. Q4 2025 Q1 2026 Earnings Summary Q1 2025 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q1 2026 +20% Q4 2025 Private Banks Investment Advisors Institutional Investors Investment Managers LSV Income Corporate Overhead Tax Rate & Other Share Count Q1 2026 +1% Y e a r- O v e r- Y e a r Q u a rt e r- O v e r- Q u a rt e r 4 $1.17 $0.05 $0.04 $0.01 $0.07 $0.02 $0.00 -$0.02 $0.07 $1.40 $1.38 $0.02 $0.00 $0.00 -$0.03 -$0.04 $0.16 -$0.10 $0.01 $1.40

 

Business unit performance SEI Earnings PresentationQ1 2026 Revenue ($M) Broad-based revenue and operating profit growth across the enterprise Private Banking performance reflects deeper and earlier engagement with clients, expanded capabilities, and momentum with regional and community banks Investment Managers benefited from sustained outsourcing demand, particularly among larger and more complex clients Advisors results reflect the first full quarter of Stratos, making comparisons to prior periods more challenging Business unit highlightsOperating profit ($M) $138 $192 $137 $69 $150 $221 $156 $73 $152 $221 $170 $72 Private Banking Investment Managers Investment Advisors Institutional Investors Q1 2025 Q4 2025 Q1 2026 $23 $75 $64 $33 $29 $91 $72 $34 $32 $87 $72 $34 Private Banking Investment Managers Investment Advisors Institutional Investors Q1 2025 Q4 2025 Q1 2026 +11% +15% +24% +4% +40% +16% +12% +5% 5

 

Operating margins SEI Earnings PresentationQ1 2026 -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% Private Banking Investment Managers Investment Advisors Institutional Investors Quarter-Over-Quarter Year-Over-Year Business unit margin changes HighlightsConsolidated operating margin 10.0% 20.0% 30.0% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 GAAP Adjusted Consolidated operating margins continued to expand in Q1, extending multi-year improvement trend Private Banking margin improvement reflects professional services growth, higher asset management contribution, and overall cost discipline against strong revenue growth Investment Managers margins grew year-over-year. Sequential compare reflects a 150bps revenue accrual true- up in Q4 that did not recur in Q1, plus new client onboarding costs Advisor margin decline reflects Stratos inclusion and intangible amortization; ex-Stratos, Advisor margins improved 50bps year-over-year 6 See the appendix to this presentation for a description and reconciliation of non-GAAP measures

 

Net sales events SEI Earnings PresentationQ1 2026 $34.9 $28.2 $36.8 $24.1 $20.9 $18.7 $57.1 $11.5 $10.0 $9.7 $5.0 $9.6 $24.9 $10.0 Q3 '24 Q4 '24 Q1 '25 Q2 '25 Q3 '25 Q4 '25 Q1 '26 Recurring Professional Services Total net sales events ($M) Exceptional Q1 sales activity led by IMS, driven by large enterprise mandates with alternative managers IMS demand remains strong, supported by a healthy pipeline of new and existing clients Asset Management delivered its strongest sales event quarter in several years, driven by ETFs, SMAs, and custody-only offerings Professional services wins and client re-contracting supported growth across Private Banking and Investments in New Businesses Q1 sales events reset high-water mark for SEI 7

 

Client asset summary SEI Earnings PresentationQ1 2026 AUA and assets on platform ($B)* AUM ($B) $1,092 $1,291 $1,336 Q4 2024 Q4 2025 Q1 2026 +22% +4% $477 $555 $554 Q4 2024 Q4 2025 Q1 2026 +16% -0% Highlights • Advisors generated ~$1.6B of net inflows, reflecting progress across ETFs, SMAs, models, and alternatives, driving stable AUM despite late-quarter market volatility • Institutional outflows, <$1B, driven by a single DB annuitization; pipeline visibility supports improved flows through the balance of the year • AUA and platform assets increased 4%, driven by new business wins and lower market sensitivity than AUM • LSV performance was strong, with key Global and U.S. Large Cap strategies outperforming benchmarks, offsetting ~$2B of outflows. Performance fees, typically lowest in Q1, totaled $1.4M at SEI’s share *Assets under administration, advisement and platform-only 8

 

Capital allocation, liquidity, and capitalization SEI Earnings PresentationQ1 2026 Capital returned to shareholders ($M) Liquidity and capitalization ($M) $363 $32 $9,800 Cash Long-Term Debt Market Capitalization Repurchased $208M of SEI shares in Q1, reflecting confidence in outlook. Continue to maintain significant repurchase capacity Ended the quarter with $363M of cash and substantial financial flexibility Strong balance sheet supports continued reinvestment in the business alongside disciplined, opportunistic capital returns Highlights 9 $208 $632 $64 $125 Q1 '26 TTM Q1 '26 Buybacks Dividends 1Excludes $77M of consolidated cash associated with LSV Variable Interest Entity 2Notes payable to Stratos advisors; already collateralized by escrow balances funded in December 2025 1 2

 

For institutional investor and financial advisor use only. Not for distribution to general public. Thank you 10

 

For institutional investor and financial advisor use only. Not for distribution to general public. Appendix 11

 

GAAP EPS to Adjusted EPS SEI Earnings PresentationQ1 2026 12 (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 Q4 2025 and Q1 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 Q3 2024, this non-GAAP adjustment consisted of the realized gain on the sale of property in New York City, NY. In Q2 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 Q2 2025, this non-GAAP adjustment consisted of a $4.5M settlement related to a vendor matter and, in Q3 2025, this adjustment consisted of an insurance settlement. 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) This non-GAAP adjustment includes severance, benefits, and other related personnel costs, net of the associated reversal in stock-based compensation costs. We only include the related costs when (i) part of a bona fide, company-wide cost-reduction initiative, and (ii) not expected to recur frequently. During Q4 2025, we reduced our workforce by 4% as part of a bona fide, company-wide cost reduction initiative which is not expected to recur frequently. Management believes this adjustment helps the reader's ability to understand our core operating results and increases comparability period to period. (F) 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.

 

GAAP EPS to Adjusted EPS SEI Earnings PresentationQ1 2026 13

 

Operating Income to Adjusted Operating Income SEI Earnings PresentationQ1 2026 14

 

Operating Income to Adjusted Operating Income SEI Earnings PresentationQ1 2026 15

 

Source: View Original Filing on SEC EDGAR

FAQ

How did SEI Investments (SEIC) perform financially in Q1 2026?

SEI Investments posted strong Q1 2026 results, with revenue of $622.2 million, up 13% year over year. Income from operations rose 21% to $189.5 million, and diluted EPS increased 20% to $1.40, reflecting broad-based growth and operating leverage.

What were SEI Investments (SEIC) non-GAAP results for Q1 2026?

On a non-GAAP basis, SEI reported adjusted income from operations of $198.7 million, up 24% from Q1 2025. Adjusted diluted EPS was $1.44, an increase of 21%, and the adjusted operating margin improved to 32%, highlighting underlying profitability trends.

How did SEI Investments’ (SEIC) assets under management and administration change in Q1 2026?

SEI ended Q1 2026 with $554.1 billion in assets under management, roughly flat sequentially but up versus the prior year. Assets under administration, platform, and advisement reached about $1.336 trillion, a 19.3% year-over-year increase driven by client wins and platform growth.

What were SEI Investments (SEIC) net sales events in Q1 2026?

Net sales events totaled $67.2 million in Q1 2026, including $57.1 million of recurring sales events. Both figures represent record levels for SEI, with strong contributions from Investment Managers, Private Banks, Investment Advisors, and Investments in New Businesses.

How much capital did SEI Investments (SEIC) return to shareholders in Q1 2026?

During Q1 2026, SEI repurchased 2.6 million shares of common stock for $208.3 million at an average price of $81.55 per share. These buybacks complemented the company’s ongoing dividend payments as part of its broader capital return strategy.

Which SEI Investments (SEIC) business segments drove growth in Q1 2026?

All major segments contributed to growth. Investment Managers, Private Banks, Investment Advisors, and Institutional Investors each posted year-over-year revenue and operating profit increases, while Investments in New Businesses reduced losses through lower expenses despite revenue declines.

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