Donnelley Financial Solutions (NYSE:DFIN) reported second-quarter 2026 net sales of $224.2 million, a 2.8% increase year-over-year, driven primarily by growth in software solutions and capital-markets transactions. Adjusted EBITDA rose 7.9% to $82.3 million, resulting in a record margin of 36.7%. Software solutions accounted for 44.3% of total revenue, with the product ActiveDisclosure seeing a year-over-year growth of approximately 29%.
Capital Markets Compliance and Communications Management revenue increased by 2.6% to $95.9 million, supported by $47.3 million from capital-markets transactional revenue, which exceeded expectations by 36%. However, overall print and distribution sales fell 15% from the previous year, totaling around $108 million over the last four quarters. DFIN’s free cash flow improved to $61.2 million, aided by higher adjusted EBITDA and lower capital expenditures.
Looking ahead to the third quarter, DFIN expects net sales between $175 million and $185 million, with an adjusted EBITDA margin of 26% to 28%, anticipating continued growth in software and capital-markets transactional revenue.
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