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SEI Investments (SEIC) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 27, 2026
SEI Investments (SEIC) reported revenue of $622M for the first quarter 2026 (Q1 2026), +13% from a year earlier and +2% from the quarter before. Operating margin was 30.5%, net earnings $174M (28.0% of revenue).
SEI Investments, Q1 2026: revenue $622M (+13% year over year), operating margin 30.5%, net earnings $174M, operating cash flow $222M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $622M | +2% | +13% |
| Gross profit | $224M | +0.3% | +16% |
| Operating profit | $189M | +17% | +21% |
| Net earnings | $174M | +1% | +15% |
| Operating cash flow | $222M | +75% | +51% |
| Free cash flow | $215M | +72% | +56% |
What changed
Revenue was $622.2M in Q1 2026, up 13% year over year and up 2% from the previous quarter. Investment operations fees was the largest line at 39% of revenue. Investment operations fees added $41.1M year over year (up 20%), 58% of the total change. Investment processing fees - SaaS declined 17%.
Gross margin was 36.0%, up 1.1 points from Q1 2025. Operating profit was $189.5M, a 30.5% margin (up 2.0 points year over year). Of the extra revenue versus Q1 2025, 46% reached operating profit, above the 28% margin then. Operating expenses fell 2% while revenue rose 13%. Net earnings were $174.5M, up 15% year over year. The effective tax rate was 23.4%.
Operating cash flow was $221.6M (up 51% year over year), 125% of net earnings. Non-cash charges added back $14.5M of share-based compensation. Working capital and other items added $30.3M. Capital expenditures of $6.4M left free cash flow of $215.2M.
Questions
What was SEI Investments' revenue in the first quarter 2026?
SEI Investments (SEIC) reported revenue of $622M for the first quarter 2026 (Q1 2026), +13% from a year earlier and +2% from the quarter before.
Was SEI Investments profitable in the first quarter 2026?
Operating profit was $189M (30.5% of revenue) and net earnings $174M.
Source: SEI Investments 10-Q on SEC EDGAR.