0001535929-26-000083
SEC filingSolid quarter driven by revenue growth and margin expansion, though operating cash flow remained negative.
Revenue for the first quarter of 2026 was $2.0 billion, up 3.1% from $2.0 billion in the prior-year quarter. The increase was primarily attributable to higher fee income and net investment income, reflecting business growth and favorable market conditions.
Net cash used in operating activities was $36 million in the first quarter of 2026, an improvement from $179 million used in the prior-year period. The reduction in cash outflows was driven by favorable changes in working capital, including timing of receipts and payments. Despite the improvement, operating cash flow remained negative, reflecting the company's ongoing investment in growth initiatives.