Donnelley Financial Solutions (NYSE:DFIN) delivered a decisive fourth-quarter performance on Tuesday, showcasing the financial muscle of its multi-year transition from a legacy commercial print business into a high-margin regulatory software provider.
The Chicago-based compliance technology firm posted fourth-quarter net sales of $172.5 million, marking a 10.4% increase from the prior year.
This top-line expansion was entirely fueled by the company's digital segments, overshadowing expected declines in print distribution.
The strategic pivot paid immediate dividends on the bottom line, as fourth-quarter adjusted EBITDA surged 44.5% to $45.8 million, crushing Wall Street estimates and pushing the quarterly margin to an impressive 26.6%.
For the full year 2025, DFIN solidified its new operational baseline.
While total 12-month net sales settled at $767 million—reflecting a tepid broader capital markets environment—profitability metrics hit historic highs.
Full-year adjusted EBITDA reached $239.8 million, generating a record margin of 31.3%, up significantly from the previous year.