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  "documentTitle": "Broadridge Financial Solutions, Inc. (BR)",
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  "authorName": "Ben Axler",
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      "text": "BR has long touted its recurring revenue retention rate. However, we observe it last referenced this figure in its SEC filings in October 2020 and in an Investor Day slide from December 2020. Going forward, management has made sporadic reference to these figures only on conference calls which have not been filed with the SEC.",
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      "text": "BR has long touted its recurring revenue retention rate. However, we observe it last referenced this figure in its SEC filings in October 2020 and in an Investor Day slide from December 2020.",
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      "text": "Recurring Revenue Retention Rate historical chart (FY15-FY20)",
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      "text": "recurring revenue retention rate: 98%",
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      "text": "We continued our long track record of retaining 98% of existing client recurring revenue, and internal growth contributed 2 points of growth driven by higher trading volumes in our GTO segment. — Broadridge Q2 2021 Earnings Call",
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      "text": "Source: BR Conference Calls",
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      "text": "Source: BR Investor Day 2020, Dec 10, 2020",
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      "text": "Recent Earnings Call Commentary On Revenue Retention",
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      "text": "BR Now Deemphasizes Recurring Revenue Retention Metric",
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