SEI Reports Third-Quarter 2026 Financial Results

, /PRNewswire/ -- SEI Investments Company (NASDAQ:SEIC) today announced financial results for the third quarter 2026. Relative to the third quarter 2025, EPS increased by 6%, and revenue and operating income grew by 14% and 24%, respectively, with operating margin increasing to 30%. On an adjusted basis, EPS and operating income grew 24% and 25%, respectively, with the adjusted operating margin increasing to 31%. In addition, on October 20, 2026, SEI's Board of Directors approved an increase in the stock repurchase program by an additional $800 million, increasing the available authorization under the program to approximately $926 million. Consolidated Overview (In thousands, except earnings per share) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2026 2025 % 2026 2025 % U.S. GAAP Basis Revenues $662,043 $578,511 14 % $1,925,843 $1,689,456 14 % Income from operations 197,999 159,961 24 % 584,501 465,693 26 % Operating margin 30 % 28 % 7 % 30 % 28 % 7 % Net income attributable to SEI Investments 168,258 164,204 2 % 538,403 542,804 (1) % Diluted earnings per share $1.38 $1.30 6 % $4.37 $4.25 3 % Non-GAAP Basis (1) Adjusted income from operations $208,493 $166,896 25 % $614,127 $480,054 28 % Adjusted diluted earnings per share $1.64 $1.32 24 % $4.73 $3.71 27 % Adjusted operating margin 31 % 29 % 7 % 32 % 28 % 14 % (1) See Non-GAAP Information and Reconciliations on pgs 11-12 "SEI's third-quarter results reinforce our confidence in the strategy and operating model we have put in place. Our growth is broad-based, our client relationships are becoming deeper and more strategic, and our year-to-date sales results have already surpassed the highest full-year total in SEI's history," said CEO Ryan Hicke. "We are increasingly engaging with clients not as a vendor, but as a growth and transformation partner, bringing together our technology, operations, data, investment solutions, and expertise to help them achieve their most important business objectives. We remain focused on executing with discipline, investing where we can create differentiated value, and building a more scalable business that can deliver durable growth for our clients and shareholders." Summary of Third-Quarter Results by Business Segment (In thousands) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2026 2025 % 2026 2025 % Investment Managers: Revenues $235,817 $207,050 14 % $684,213 $594,165 15 % Expenses 143,562 125,934 14 % 413,479 364,781 13 % Operating Profit 92,255 81,116 14 % 270,734 229,384 18 % Operating Margin 39 % 39 % 40 % 39 % Private Banks: Revenues 160,439 143,994 11 % 469,580 423,157 11 % Expenses 128,275 120,763 6 % 373,526 354,236 5 % Operating Profit 32,164 23,231 38 % 96,054 68,921 39 % Operating Margin 20 % 16 % 20 % 16 % Investment Advisors: Revenues 185,378 147,465 26 % 532,970 421,234 27 % Expenses 107,678 79,128 36 % 305,901 227,384 35 % Non-controlling interests and other, net (A) 2,034 — NM* 4,732 — NM Operating Profit 75,666 68,337 11 % 222,337 193,850 15 % Operating Margin 41 % 46 % 42 % 46 % Institutional Investors: Revenues 70,638 71,826 (2) % 211,856 209,675 1 % Expenses 37,801 38,068 (1) % 111,764 109,795 2 % Operating Profit 32,837 33,758 (3) % 100,092 99,880 — % Operating Margin 46 % 47 % 47 % 48 % Investments in New Businesses: Revenues 9,771 8,176 20 % 27,224 41,225 (34) % Expenses 10,588 11,863 (11) % 29,820 48,789 (39) % Operating Loss (817) (3,687) (78) % (2,596) (7,564) (66) % Totals: Revenues $662,043 $578,511 14 % $1,925,843 $1,689,456 14 % Expenses 427,904 375,756 14 % 1,234,490 1,104,985 12 % Corporate Overhead Expenses 36,140 42,794 (16) % 106,852 118,778 (10) % Income from operations (B) $197,999 $159,961 24 % $584,501 $465,693 26 % Adjusted income from operations $208,493 $166,896 25 % $614,127 $480,054 28 % (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. Third-Quarter Business Highlights: SEI delivered strong third-quarter results, with diluted EPS increasing 6% compared to the prior year. On an adjusted basis, diluted EPS increased 24% to $1.64, driven by revenue growth, margin expansion, and a 3% reduction in share count from SEI's share repurchase program. Third-quarter operating income included $6.4 million of additional incentive compensation expense associated with the strength of year-to-date performance and the current outlook for the remainder of the year. Third-quarter net sales events totaled $46.8 million, the second-highest quarterly level in SEI history, bringing year-to-date net sales events to $157.4 million. Investment Managers led the quarter with $32.0 million of net sales events, with contributions from both new client wins and expansions with existing clients. Private Banks generated $12.6 million of net sales events, reflecting continued demand across enterprise transformation initiatives, professional services, Data Cloud capabilities, and asset management solutions. Investment Advisors generated $2.4 million of net sales events, while Institutional Investors recorded negative $2.3 million of net sales events. Consolidated revenues and operating income increased by 14% and 24%, respectively, from Q3 2025. On an adjusted basis, operating income increased by 25% with adjusted operating margins increasing to 31%, up 260 basis points from Q3 2025. Private Banking revenue increased 11% and operating profit increased 38%, demonstrating strong operating leverage as the business continues to grow, including increased adoption of professional services. Investment Managers revenue and operating profit increased 14% as prior sales success continued to convert into revenue and demand for outsourcing solutions remained strong. Absent the elevated incentive compensation accrual, Investment Managers operating profit would have increased by 17% vs. the prior year. Investment Advisors revenue increased 26% and operating profit increased 11%, benefiting from Stratos and growth in the underlying Advisors business. Stratos contributed $23.3 million of revenue and $4.4 million of operating profit, including $7.3 million of acquired intangible amortization. Excluding Stratos, Advisors revenue increased 10% and operating profit increased 7%. SEI's integrated cash program contributed $20.8 million during the quarter, matching Q3 2025. Institutional Investors revenue declined 2% and operating profit declined 3%, reflecting prior client outflows. Ending assets under management decreased 0.1% to $606.4 billion from Q2 2026, as market values and net flows were little changed. Assets under administration, assets on platform, and assets under advisement increased 4% during the quarter, driven primarily by continued growth in Investment Managers, including funding from recently won mandates and additional client capital deployment. LSV assets declined 1% from Q2 as strong investment performance was offset by $5.3 billion of net outflows. Performance fees totaled $4.5 million during the quarter at SEI's share. SEI repurchased 2.0 million shares of common stock for $215.1 million at an average price of $105.24 per share. SEI ended the quarter with $399.8 million of cash and recently authorized an additional $800 million of share repurchase capacity. Other expenses consist of a $32.5 million one-time charge associated with the termination agreement with Stratos to purchase their Mexican based subsidiary, NSC. Earnings Conference Call A conference call and presentation to review earnings is scheduled for 5 p.m. Eastern time on Wednesday, October 21, 2026. A live webcast of the call will be available on SEI's Investor Relations website at ir.seic.com/events-presentations/events, where a replay will also be posted following the call. Participants may also access the call by telephone by dialing 877-407-8293 (in the U.S.) or +1 201-689-8349 (International). Please dial in at least 10 minutes prior to the start of the call. 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 September 30, 2026, SEI manages, advises, or administers approximately $2.1 trillion in assets. For more information, visit seic.com. This release contains forward-looking statements within the meaning of 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: whether year-end performance will be of a level sufficient to justify incentive compensation awards consistent with increased accruals; the level of share buy-backs; the growth trajectory of our assets under administration and Private Banking business; the demand for outsourcing services and enterprise transformation initiatives; 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 December 31, 2025, filed with the Securities and Exchange Commission. Investor contact: Media contact: Brad Burke Alicia Rudd SEI SEI +1610-676-5350 +1 610-676-3887 bburke2@seic.com arudd@seic.com SEI INVESTMENTS COMPANY CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) For the Three Months Ended September 30, For the Nine Months Ended September 30, 2026 2025 2026 2025 Asset management, admin. and distribution fees $531,417 $461,964 $1,542,883 $1,331,650 Information processing and software servicing fees 130,626 116,547 382,960 357,806 Total revenues 662,043 578,511 1,925,843 1,689,456 Subadvisory, distribution and other asset mgmt. costs 61,194 55,072 177,920 152,313 Software royalties and other information processing costs 9,878 9,434 29,487 27,706 Compensation, benefits and other personnel 220,069 203,739 634,223 594,097 Stock-based compensation 16,000 13,956 46,809 41,985 Consulting, outsourcing and professional fees 58,394 54,401 169,066 167,344 Data processing and computer related 49,388 41,569 141,123 122,689 Facilities, supplies and other costs 22,318 20,982 64,093 61,481 Amortization 19,684 11,912 57,175 33,071 Depreciation 7,119 7,485 21,446 23,077 Total expenses 464,044 418,550 1,341,342 1,223,763 Income from operations 197,999 159,961 584,501 465,693 Net gain from investments 1,206 1,992 4,387 4,244 Interest and dividend income 6,866 10,207 21,040 29,711 Interest expense (606) (109) (1,641) (386) Gain on sale of business — — — 94,412 Other (expense) income (32,500) 4,922 (32,050) 9,422 Equity in earnings of unconsolidated affiliates 39,819 31,903 110,989 94,290 Net gain from consolidated variable interest entities 1,809 1,845 11,363 1,845 Income before income taxes 214,593 210,721 698,589 699,231 Income taxes 43,346 46,135 151,015 156,045 Net income $171,247 $164,586 $547,574 $543,186 Less: Net income attributable to non-controlling interests 2,989 382 9,171 382 Net income attributable to SEI Investments Company $168,258 $164,204 $538,403 $542,804 Basic earnings per common share $1.42 $1.33 $4.48 $4.35 Shares used to calculate basic earnings per share 118,415 123,099 120,138 124,710 Diluted earnings per common share $1.38 $1.30 $4.37 $4.25 Shares used to calculate diluted earnings per share 122,012 126,325 123,280 127,684 Dividends declared per common share $— $— $0.52 $0.49 SEI INVESTMENTS COMPANY CONSOLIDATED CONDENSED BALANCE SHEETS (In thousands) (Unaudited) September 30, December 31, 2026 2025 Assets Current Assets: Cash and cash equivalents $399,766 $399,804 Receivables from investment products 59,278 63,317 Receivables, net 851,279 709,748 Securities owned 25,750 33,777 Other current assets 75,611 66,691 Total Current Assets 1,411,684 1,273,337 Property and Equipment, net 153,496 150,434 Operating Lease Right-of-Use Assets 30,186 26,447 Capitalized Software, net 224,189 234,272 Investments 335,895 428,004 Assets of Consolidated Variable Interest Entities 223,785 183,994 Goodwill 392,205 354,989 Intangible assets, net 481,727 368,272 Other Assets, net 181,472 240,095 Total Assets $3,434,639 $3,259,844 Liabilities, Redeemable Non-controlling Interests and Equity Current Liabilities: Accounts payable $13,905 $5,404 Accrued liabilities 284,920 359,823 Current portion of long-term debt 5,754 — Current portion of long-term operating lease liabilities 9,124 8,677 Deferred revenue 13,648 13,307 Total Current Liabilities 327,351 387,211 Long-term Debt 30,951 — Liabilities of Consolidated Variable Interest Entities 136,536 108,504 Other Long-term Liabilities 62,503 60,353 Total Liabilities 557,341 556,068 Redeemable Non-controlling Interests 323,105 243,959 Equity: Shareholders' Equity: Common stock, $0.01 par value, 750,000 shares authorized; 118,942 and 122,232 shares issued and outstanding 1,189 1,222 Capital in excess of par value 1,758,970 1,678,787 Retained earnings 785,633 792,280 Accumulated other comprehensive loss, net (33,229) (24,505) Total SEI Shareholders' Equity 2,512,563 2,447,784 Non-controlling interests 41,630 12,033 Total Equity $2,554,193 $2,459,817 Total Liabilities, Redeemable Non-controlling Interests and Equity $3,434,639 $3,259,844 SEI INVESTMENTS COMPANY CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) For the Nine Months Ended September 30, 2026 2025 Cash flows from operating activities: Net income $547,574 $543,186 Adjustments to reconcile net income to net cash provided by operating activities: 17,753 (61,922) Net cash provided by operating activities $565,327 $481,264 Net cash (used in) provided by investing activities ($32,087) $40,497 Net cash used in financing activities ($512,509) ($516,474) Effect of exchange rate changes on cash, cash equivalents (6,103) 11,953 Net change in cash and cash equivalents and cash and cash equivalents held at consolidated variable interest entities 14,628 17,240 Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities, beginning of period 470,595 840,193 Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities, end of period $485,223 $857,433 Reconciliation of Cash, cash equivalents and cash and cash equivalents held at consolidated variable interest entities to the Consolidated Balance Sheets: September 30, December 31, 2026 2025 Cash and cash equivalents $399,766 $399,804 Cash and cash equivalents held at consolidated variable interest entities 85,457 70,791 Total cash and cash equivalents and cash and cash equivalents held at consolidated variable interest entities $485,223 $470,595 ENDING ASSET BALANCES (In millions) (Unaudited) Sep. 30 Dec. 31 Mar. 31 Jun. 30 Sep. 30 2025 2025 2026 2026 2026 Investment Managers: Collective trust fund programs (A) $237,964 $243,244 $243,900 $265,265 $267,693 Liquidity funds 418 579 536 464 493 Total assets under management $238,382 $243,823 $244,436 $265,729 $268,186 Client assets under administration 1,204,843 1,239,606 1,284,781 1,351,307 1,400,810 Total assets $1,443,225 $1,483,429 $1,529,217 $1,617,036 $1,668,996 Private Banks: Equity and fixed-income programs $28,408 $29,832 $29,753 $32,520 $32,949 Collective trust fund programs 3 3 4 4 4 Liquidity funds 2,802 2,099 2,178 1,709 1,646 Total assets under management $31,213 $31,934 $31,935 $34,233 $34,599 Client assets under administration 8,902 9,115 9,143 9,405 9,784 Total assets $40,115 $41,049 $41,078 $43,638 $44,383 Investment Advisors: Equity and fixed-income programs $85,245 $86,879 $86,612 $94,390 $94,470 Liquidity funds 3,391 3,561 3,485 3,391 3,306 Total Platform assets under management $88,636 $90,440 $90,097 $97,781 $97,776 Platform-only assets 32,152 33,582 34,070 38,308 38,464 Platform-only assets-deposit program 2,165 2,461 2,294 2,358 2,326 Total Platform assets $122,953 $126,483 $126,461 $138,447 $138,566 Institutional Investors: Equity and fixed-income programs $82,676 $84,254 $82,195 $86,690 $84,533 Liquidity funds 1,580 1,604 1,503 1,559 1,485 Total assets under management $84,256 $85,858 $83,698 $88,249 $86,018 Client assets under advisement 6,564 3,598 3,549 3,790 3,776 Total assets $90,820 $89,456 $87,247 $92,039 $89,794 Investments in New Businesses: Equity and fixed-income programs $2,999 $3,044 $3,087 $3,351 $3,289 Liquidity funds 244 316 252 236 404 Total assets under management $3,243 $3,360 $3,339 $3,587 $3,693 Client assets under advisement 2,452 2,389 2,185 2,506 2,613 Total assets $5,695 $5,749 $5,524 $6,093 $6,306 LSV Asset Management: Equity and fixed-income programs (B) $95,801 $99,196 $100,567 $117,146 $116,080 Stratos Wealth Holdings (E) $— $38,637 $38,291 $41,889 $41,655 Total: Equity and fixed-income programs (C) $295,129 $303,205 $302,214 $334,097 $331,321 Collective trust fund programs 237,967 243,247 243,904 265,269 267,697 Liquidity funds 8,435 8,159 7,954 7,359 7,334 Total assets under management $541,531 $554,611 $554,072 $606,725 $606,352 Client assets under advisement 9,016 5,987 5,734 6,296 6,389 Client assets under administration (D) 1,213,745 1,248,721 1,293,924 1,360,712 1,410,594 Platform-only assets 34,317 36,043 36,364 40,666 40,790 Stratos Wealth Holdings — 38,637 38,291 41,889 41,655 Total assets $1,798,609 $1,883,999 $1,928,385 $2,056,288 $2,105,780 (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 September 30, 2026). (C) Equity and fixed-income programs include $9.0 billion of assets in various asset allocation funds (as of September 30, 2026). (D) In addition to the assets presented, SEI also administers an additional $16.1 billion in Funds of Funds assets on which SEI does not earn an administration fee (as of September 30, 2026). (E) Prior period asset balances have been revised to conform with the current period presentation. AVERAGE ASSET BALANCES (In millions) (Unaudited) 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 3rd Qtr. 2025 2025 2026 2026 2026 Investment Managers: Collective trust fund programs (A) $231,088 $240,285 $248,851 $259,655 $267,834 Liquidity funds 385 492 565 506 569 Total assets under management $231,473 $240,777 $249,416 $260,161 $268,403 Client assets under administration 1,174,961 1,225,392 1,280,581 1,332,630 1,386,909 Total assets $1,406,434 $1,466,169 $1,529,997 $1,592,791 $1,655,312 Private Banks: Equity and fixed-income programs $28,051 $29,087 $30,696 $32,005 $33,201 Collective trust fund programs 3 3 3 4 4 Liquidity funds 2,834 2,371 2,150 1,717 1,680 Total assets under management $30,888 $31,461 $32,849 $33,726 $34,885 Client assets under administration 8,665 8,977 9,282 9,455 9,602 Total assets $39,553 $40,438 $42,131 $43,181 $44,487 Investment Advisors: Equity and fixed-income programs $82,735 $85,896 $88,403 $92,424 $95,439 Liquidity funds 3,378 3,418 3,518 3,338 3,292 Total Platform assets under management $86,113 $89,314 $91,921 $95,762 $98,731 Platform-only assets 30,874 33,022 34,485 36,768 38,662 Platform-only assets-deposit program 2,136 2,135 2,309 2,273 2,297 Total Platform assets $119,123 $124,471 $128,715 $134,803 $139,690 Institutional Investors: Equity and fixed-income programs $80,802 $83,739 $84,393 $85,302 $86,212 Liquidity funds 1,810 1,947 1,941 1,702 1,700 Total assets under management $82,612 $85,686 $86,334 $87,004 $87,912 Client assets under advisement 6,274 5,413 3,657 3,703 3,852 Total assets $88,886 $91,099 $89,991 $90,707 $91,764 Investments in New Businesses: Equity and fixed-income programs $2,934 $3,021 $3,106 $3,260 $3,317 Liquidity funds 255 288 319 258 407 Total assets under management $3,189 $3,309 $3,425 $3,518 $3,724 Client assets under advisement 2,428 2,408 2,335 2,425 2,632 Total assets $5,617 $5,717 $5,760 $5,943 $6,356 LSV Asset Management: Equity and fixed-income programs (B) $92,969 $97,304 $104,619 $115,862 $118,889 Stratos Wealth Holdings (E) $— $38,507 $39,317 $40,559 $41,902 Total: Equity and fixed-income programs (C) $287,491 $299,047 $311,217 $328,853 $337,058 Collective trust fund programs 231,091 240,288 248,854 259,659 267,838 Liquidity funds 8,662 8,516 8,493 7,521 7,648 Total assets under management $527,244 $547,851 $568,564 $596,033 $612,544 Client assets under advisement 8,702 7,821 5,992 6,128 6,484 Client assets under administration (D) 1,183,626 1,234,369 1,289,863 1,342,085 1,396,511 Platform-only assets 33,010 35,157 36,794 39,041 40,959 Stratos Wealth Holdings — 38,507 39,317 40,559 41,902 Total assets $1,752,582 $1,863,705 $1,940,530 $2,023,846 $2,098,400 (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 third-quarter 2026 include $1.4 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 $8.9 billion of average assets in various asset allocation funds during third-quarter 2026. (D) In addition to the assets presented, SEI also administers an additional $15.2 billion of average assets in Funds of Funds assets during third-quarter 2026 on which SEI does not earn an administration fee. (E) Prior period average assets have been revised to conform with the current period presentation. SALES EVENTS (In thousands) (Unaudited) Net Recurring Sales Events 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 3rd Qtr. 2025 2025 2026 2026 2026 Investment Processing-related Businesses: Investment Managers $27,460 $19,150 $46,848 $27,856 $28,606 Private Banks (6,713) 5,670 1,571 4,207 5,598 Total Investment Processing-related Businesses $20,747 $24,820 $48,419 $32,063 $34,204 Asset Management-related Businesses: Private Banks-AMD ($1,674) ($1,567) $1,983 $2,938 $2,462 Investment Advisors 1,230 (728) 7,044 (1,685) 2,440 Institutional Investors (594) (5,025) (2,935) (1,102) (2,315) Total Asset Management-related Businesses ($1,038) ($7,320) $6,092 $151 $2,587 Newer Initiatives: Investments in New Businesses $1,208 $1,248 $2,631 $361 $1,811 Total Net Recurring Sales Events $20,917 $18,748 $57,142 $32,575 $38,602 Professional Services Sales Events 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 3rd Qtr. 2025 2025 2026 2026 2026 Investment Processing-related Businesses: Investment Managers $2,465 $1,347 $3,672 $4,179 $3,406 Private Banks 7,087 23,409 4,950 5,934 4,514 Total Investment Processing-related Businesses $9,552 $24,756 $8,622 $10,113 $7,920 Newer Initiatives: Investments in New Businesses $71 $95 $1,389 $768 $272 Total Professional Services Sales Events $9,623 $24,851 $10,011 $10,881 $8,192 Total Sales Events 3rd Qtr. 4th Qtr. 1st Qtr. 2nd Qtr. 3rd Qtr. 2025 2025 2026 2026 2026 Investment Processing-related Businesses: Investment Managers $29,925 $20,497 $50,520 $32,035 $32,012 Private Banks 374 29,079 6,521 10,141 10,112 Total Investment Processing-related Businesses $30,299 $49,576 $57,041 $42,176 $42,124 Asset Management-related Businesses: Private Banks-AMD ($1,674) ($1,567) $1,983 $2,938 $2,462 Investment Advisors 1,230 (728) 7,044 (1,685) 2,440 Institutional Investors (594) (5,025) (2,935) (1,102) (2,315) Total Asset Management-related Businesses ($1,038) ($7,320) $6,092 $151 $2,587 Newer Initiatives: Investments in New Businesses $1,279 $1,343 $4,020 $1,129 $2,083 Total Sales Events $30,540 $43,599 $67,153 $43,456 $46,794 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 the three and nine months ended September 30, 2026 and 2025: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2026 2025 2026 2025 Net income attributable to SEI Investments Company (U.S. GAAP basis) $168,258 $164,204 $538,403 $542,804 Non-GAAP adjustments: Acquisition-related: Third party costs (A) — 3,767 — 4,587 Intangible assets amortization & impairments (B) 7,379 3,168 21,070 9,774 Total acquisition-related 7,379 6,935 21,070 14,361 Gain on sale of asset/business (C) — — — (94,412) Litigation settlements and insurance proceeds (D) — (4,350) 3,808 (8,850) Other individually significant items (E) 32,500 — 32,500 — Income tax effect (F) (8,167) (567) (12,058) 19,787 Adjusted net income attributable to SEI Investments Company (non- GAAP basis) $199,970 $166,222 $583,723 $473,690 Diluted EPS (U.S. GAAP basis) $1.38 $1.30 $4.37 $4.25 Adjusted diluted EPS (non-GAAP basis) $1.64 $1.32 $4.73 $3.71 Diluted weighted average shares outstanding 122,012 126,325 123,280 127,684 Income from operations (U.S. GAAP Basis) $197,999 $159,961 $584,501 $465,693 Operating margin (U.S. GAAP Basis) 30 % 28 % 30 % 28 % Non-GAAP adjustments: Acquisition-related: Third party costs (A) — 3,767 — 4,587 Intangible assets amortization & impairments (B) 10,494 3,168 29,626 9,774 Total acquisition-related 10,494 6,935 29,626 14,361 Adjusted income from operations (non-GAAP Basis) $208,493 $166,896 $614,127 $480,054 Adjusted operating margin (non-GAAP basis) 31 % 29 % 32 % 28 % (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 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 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 2026, this non-GAAP adjustment was related to litigation settlements. In 2025, this non-GAAP adjustment consisted of a $4.5M settlement related to a vendor matter and a $4.4M insurance recovery. 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 removes other items that are individually significant and highly unusual. In 2026, this non-GAAP adjustment consisted of the amount recognized related to the mutually agreed Termination Agreement between the Company and Stratos with respect to the previously reported obligations to proceed with the closing of the purchase of the equity of a Mexican RIA owned by Stratos. Management believes this charge is outside the normal course of business and not indicative of ongoing operating performance. Excluding this item enhances comparability between periods and assists investors in evaluating SEI's core operating results. (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. View original content:https://www.prnewswire.com/news-releases/sei-reports-third-quarter-2026-financial-results-302915961.html SOURCE SEI Investments Company