Economic Overview - As of 2023, Latin America and the Caribbean had a combined estimated total GDP of US$7.1 trillion, with an average GDP per capita of US$10,797 and average real growth of nearly 2.8% per annum over the past 50 years [600]. - Chile's GDP was estimated at US$301 billion in 2023, with exports of goods and services accounting for approximately one-third of its economy [602]. - Inflation in Chile reached 12.8% in 2022, but decreased to 3.9% by the end of 2023 [602]. Currency Exchange Rates - The real/U.S. dollar exchange rate was R$4.841 per US$1.00 on December 31, 2023, reflecting a 7.2% appreciation of the real against the U.S. dollar during 2023 [601]. - In 2024, the real depreciated 21.8% to R$6.192 per US$1.00 on December 31, 2024 [601]. Revenue and Income - Net revenue from services for 2024 was $374.2 million, an increase of $46.6 million or 14.2% from $327.6 million in 2023 [629]. - Net revenues from services in 2023 amounted to US$327.6 million, an increase of US$68.7 million, or 26.5%, from US$258.9 million in 2022 [645]. - Revenue from management fees increased by $41 million in 2024, contributing to the overall growth in net revenue from services [629]. - Performance fees decreased by $12 million in 2024, reflecting the variable nature of these fees and their dependency on investment fund performance [629]. - Net income for the year decreased to $75.7 million in 2024, down $45.1 million or 37.3% from $120.8 million in 2023 [638]. - Net income for the year was US$120.8 million, an increase of US$15.6 million, or 28.4%, from US$94.1 million in 2022 [654]. Expenses - Personnel expenses rose to $111.7 million in 2024, up $32.9 million or 41.8% from $78.8 million in 2023, primarily due to additional personnel from acquired businesses [630]. - Personnel expenses in 2023 were US$78.8 million, an increase of US$9.0 million, or 12.9%, from US$69.8 million in 2022 [646]. - Other expenses increased to $45.8 million in 2024, up $27.1 million from $18.7 million in 2023, driven by adjustments related to acquisitions and integration costs [633]. - Net financial expenses increased significantly to $20.6 million in 2024, up $18.9 million from $1.7 million in 2023, mainly due to higher interest expenses and unrealized losses [635]. - Income tax expense for 2024 was $10.3 million, an increase of $13.1 million from a positive balance of $2.8 million in 2023, attributed to tax rate differences in foreign subsidiaries [637]. - Amortization of intangible assets increased by $8.3 million or 37.4% from $22.4 million in 2023 to $30.7 million in 2024, due to higher values of identifiable intangible assets from acquisitions [632]. - Carried interest allocation decreased to $20.9 million in 2024, down $4.4 million or 17.4% from $25.3 million in 2023, due to lower recognized performance fee revenue [630]. Cash Flow and Financing - Cash flows provided by operating activities decreased by US$10.8 million, from US$156.7 million in 2023 to US$145.9 million in 2024 [659]. - Cash flows used in investing activities decreased by US$36.9 million, from US$62.2 million in 2023 to US$25.3 million in 2024 [661]. - As of December 31, 2024, the company had US$92.4 million in cash, cash equivalents, and short-term investments [656]. - Net cash flows from financing activities improved by US$77.9 million, decreasing from US$229.6 million used in 2023 to US$151.7 million used in 2024 [663]. - Dividends paid to shareholders were US$132.4 million in 2024, compared to US$145.1 million in 2023 and US$103.3 million in 2022 [663]. - Capital expenditures increased significantly to US$131.4 million in 2024 from US$45.2 million in 2023 and US$54.5 million in 2022 [667]. - As of December 31, 2024, the company had US$228 million in outstanding indebtedness on credit facilities, with no financial indebtedness in 2023 and 2022 [665]. - The company plans to fund future capital expenditures through operating cash flow, existing cash, and credit facilities [668]. - Financing activities included US$86.2 million for settlement of financing arrangements related to acquired businesses and US$141.3 million in SPAC shareholder redemptions [663]. Strategic Focus - The company is focused on mergers and acquisitions as part of its inorganic growth strategy, impacting future capital requirements [668]. - The company made US$14.7 million in financing arrangement settlements for acquired businesses in 2023 [664]. - The company regularly reevaluates its accounting estimates, which could lead to material differences in reported financial results [669]. Accounting and Reporting - The company follows a five-step guidance to recognize revenue in accordance with IFRS 15, which includes identifying contracts and performance obligations [609]. - Financial income is mainly composed of interest on highly liquid investments and realized and unrealized gains on long-term investments [621]. - Cybersecurity-related costs represented 21% and 24% of administrative expenses for the years ended December 31, 2024 and 2023, respectively [606]. - Deferred consideration related to the acquisition of Moneda included US$58.7 million expected to be paid to former shareholders, with US$28.7 million outstanding as of December 31, 2024 [616].

Financial Data and Key Metrics Changes - Fundraising in Q1 2025 reached a record $3.2 billion, contributing to a target of $6 billion for the year [6][24] - Fee-related earnings (FRE) were $42.6 million or $0.27 per share, reflecting a 2116% year-over-year growth [6][8] - Assets under management (AUM) grew to $46 billion, a 43% increase year-over-year and over 9% sequentially [10][26] - Distributable earnings were $37 million or $0.23 per share, up 12% year-over-year [8][32] Business Line Data and Key Metrics Changes - Fee-earning AUM increased to $35 billion, a 46% year-over-year growth and 6% sequentially [10][28] - Organic net inflows into fee-earning AUM were over $700 million, representing an annualized organic growth rate of over 8.6% [7][26] - Management fee revenue for Q1 was $77.3 million, up 28% year-over-year, but down 17% sequentially due to seasonal factors [28][29] Market Data and Key Metrics Changes - Approximately 20% of fee-earning AUM were in permanent capital vehicles, which is a key long-term objective [13][22] - Strong demand from Asian sovereign wealth fund investors led to $1 billion in commitments during the quarter [14][15] - Local investors accounted for approximately 17% of fundraising in Q1 2025, indicating a growing interest in alternative investments [22] Company Strategy and Development Direction - The company aims to diversify its investment strategies and product offerings, enhancing resilience against global uncertainties [23][24] - The focus is on organic growth through customized investment accounts and special managed accounts, moving away from a product-centric model [6][12] - The company is positioned to benefit from geopolitical shifts, with a low exposure to U.S. tariffs and a focus on local consumption markets in Latin America [17][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the $6 billion fundraising target despite global uncertainties [24][31] - The company believes Latin America is becoming a more attractive destination for capital, benefiting from low geopolitical risks and strong local consumption [18][39] - Management anticipates that the ongoing trade conflicts may lead to increased foreign direct investment (FDI) in the region [42] Other Important Information - The company has a net debt of approximately $143 million, with a net debt to FRE ratio well below one time [32] - The effective tax rate for the quarter was 9.2%, with expectations to trend towards 10% by 2027 [32] - A quarterly dividend of $0.15 per share was approved for 2025, with intentions to repurchase shares throughout the year [33] Q&A Session Summary Question: How are portfolios positioned regarding higher tariffs in the U.S.? - Management indicated that most investments are Latin America-oriented, with minimal exposure to Mexico, and sectors are resilient and locally driven [37][39] Question: Could Chinese institutions divert allocations from U.S. to LatAm? - Management confirmed that there is increased interest from Asian investors, with significant commitments already made [43][45] Question: Is there potential upside to the $6 billion fundraising target? - Management maintained the $6 billion target but acknowledged the strong start with $3.2 billion raised in Q1 [52][54] Question: Update on integration of M&A completed last year? - Management reported that 2025 is focused on integration, with no major issues encountered and synergies expected to improve margins [70][74] Question: Overview of the $3.5 billion pending fee AUM? - Management stated that most pending AUM will be allocated to infrastructure and GPMS verticals, with an average management fee of 96 basis points expected [78][80]

Financial Data and Key Metrics Changes - Fundraising in Q1 2025 totaled a record $3.2 billion, contributing to a target of $6 billion for the year [6][13] - Fee related earnings (FRE) were $42.6 million or $0.27 per share, representing a 2116% year-over-year growth [6][9] - Assets under management (AUM) grew to $46 billion, a 43% increase year-over-year and over 9% sequentially [11][26] - Distributable earnings were $37 million or $0.23 per share, up 12% year-over-year [9][33] Business Line Data and Key Metrics Changes - Fee earning AUM reached $35 billion, up 46% year-over-year and 6% sequentially [11][26] - Organic net inflows into fee earning AUM were over $700 million, reflecting an annualized growth rate of 8.6% [7][28] - Management fee revenue for Q1 was $77.3 million, up 28% year-over-year, driven by acquisitions [28] Market Data and Key Metrics Changes - Approximately 20% of fee earning AUM were in permanent capital vehicles, a key long-term objective [14][22] - Strong demand from Asian sovereign wealth funds resulted in $1 billion of commitments in customized investment accounts [14][20] - Local investors accounted for about 17% of fundraising in Q1 2025, indicating growing interest in alternative strategies [22] Company Strategy and Development Direction - The company aims to diversify and grow both organically and inorganically, enhancing resilience amid global uncertainty [23][24] - Focus on local consumption markets and resilient sectors such as healthcare and agribusiness [19][40] - The strategy includes increasing the proportion of assets that earn fees based on net asset value, which supports long-term compounding [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to weather economic uncertainty and potential global recession, highlighting Latin America's attractiveness for investment [17][18] - The company anticipates that geopolitical tensions may lead to increased foreign direct investment in Latin America [18][20] - Management remains cautious about extrapolating Q1 fundraising success across the entire year due to the unpredictable nature of large customized accounts [16][53] Other Important Information - The company expects FRE margins to fall within the range of 58% to 60% for the full year [32][72] - The effective tax rate for Q1 was 9.2%, with expectations to trend towards 10% by 2027 [33] - A quarterly dividend of $0.15 per share was approved for 2025 [34] Q&A Session Summary Question: How are portfolios positioned from higher tariffs in the U.S.? - Management indicated that most investments are Latin America-oriented, with minimal exposure to Mexico, and sectors are resilient and locally driven [40][42] Question: Could Chinese institutions divert allocations from U.S. to LatAm? - Management confirmed that conversations with Chinese investors have intensified, reflecting a shift away from U.S. exposure [45][48] Question: Is there potential upside to the $6 billion fundraising target? - Management maintained the $6 billion target but acknowledged the strong start with $3.2 billion raised in Q1 [52][53] Question: Update on integration of M&A completed last year? - Management reported that 2025 is focused on integration, with no major issues encountered and synergies expected to improve margins [67][72] Question: Overview of the $3.5 billion pending fee AUM? - Management indicated that most of the pending fee AUM will be allocated to infrastructure and GPMS, with deployment expected over the next four to six quarters [78][80]

Core Viewpoint - Patria Investments reported quarterly earnings of $0.23 per share, missing the Zacks Consensus Estimate of $0.25 per share, but showing an increase from $0.21 per share a year ago, indicating a mixed performance in earnings expectations [1][2]. Financial Performance - The company posted revenues of $77.3 million for the quarter ended March 2025, which was 5.06% below the Zacks Consensus Estimate, compared to $60.6 million in the same quarter last year [2]. - Over the last four quarters, Patria Investments has surpassed consensus EPS estimates only once [2]. Stock Performance - Patria Investments shares have declined approximately 8.2% since the beginning of the year, while the S&P 500 has decreased by 4.7% [3]. - The current Zacks Rank for Patria Investments is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6]. Earnings Outlook - The consensus EPS estimate for the upcoming quarter is $0.28 on revenues of $84.11 million, and for the current fiscal year, it is $1.27 on revenues of $352.45 million [7]. - The trend of estimate revisions for Patria Investments is mixed, which could change following the recent earnings report [6]. Industry Context - The Financial - Investment Management industry, to which Patria Investments belongs, is currently ranked in the bottom 15% of over 250 Zacks industries, indicating potential challenges for stock performance [8].

May 2, 2025 PATRIA INVESTMENTS (NASDAQ: PAX) 1Q25 Earnings Presentation Disclaimer PAX 1Q25 Earnings Presentation PAX 1Q25 Earnings Presentation Patria Reports First Quarter 2025 Results Dividends Conference Call Shareholder Relations Contact About Patria PAX 1Q25 Earnings Presentation Patria's First Quarter IFRS Results IFRS Net Income attributable to Patria was $13.6 million for 1Q25 | (US$ in millions) | 1Q24 | 4Q24 | 1Q25 | | --- | --- | --- | --- | | Revenue from management fees | 63.9 | 80.0 | 78.1 | ...

Core Insights - Patria reported a record fundraising of $3.2 billion in Q1 2025, positioning the company strongly to meet its $6 billion target for the year [2] - The company achieved Fee Related Earnings (FRE) of $42.6 million, reflecting a year-over-year growth of 21% [3] - Patria generated over $700 million in organic net inflows, indicating an annualized organic growth rate of 9% [2] Financial Performance - Net income attributable to Patria for Q1 2025 was $13.6 million [3] - FRE margin stood at 55.1%, with Distributable Earnings of $36.8 million, or $0.23 per share [3] - The company declared a quarterly dividend of $0.15 per share, payable on June 12, 2025 [4] Business Strategy and Outlook - The company is focused on diversifying its investment platforms, which is contributing to fundraising and organic growth [2] - Despite potential economic headwinds, Patria aims to generate between $200 million to $225 million of FRE for 2025 [2] - Patria specializes in mid-market segments across resilient sectors, with a strong presence in Latin America and Europe [6]

Core Viewpoint - Wall Street anticipates a year-over-year increase in earnings for Patria Investments, driven by higher revenues, with a focus on how actual results will compare to estimates [1][2]. Earnings Expectations - The earnings report is expected on May 2, 2025, with a consensus EPS estimate of $0.25, reflecting a +19.1% change year-over-year, and revenues projected at $81.42 million, up 34.4% from the previous year [3][2]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating a stable outlook from covering analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that the Most Accurate Estimate for Patria Investments is lower than the consensus estimate, resulting in an Earnings ESP of -8%, indicating a bearish sentiment among analysts [10][11]. Historical Performance - In the last reported quarter, Patria Investments exceeded the expected EPS of $0.37 by delivering $0.58, resulting in a surprise of +56.76%. However, the company has only beaten consensus EPS estimates once in the last four quarters [12][13]. Conclusion - Given the current Earnings ESP and Zacks Rank of 4, Patria Investments does not appear to be a strong candidate for an earnings beat, suggesting that investors should consider additional factors before making investment decisions [16].

RED BANK, N.J., April 17, 2025 /PRNewswire/ -- PAX Health, a leading behavioral healthcare company backed by HCAP Partners and funds managed by Hamilton Lane (Nasdaq:HLNE), today announced its acquisition of Richardson Psychiatric Associates, a comprehensive outpatient psychiatric practice serving adults, adolescents, children, and families.This strategic acquisition enhances PAX Health's portfolio of mental health services and expands its geographic footprint in Western Pennsylvania, strengthening the comp ...

GRAND CAYMAN, Cayman Islands, April 15, 2025 (GLOBE NEWSWIRE) -- Patria (NASDAQ:PAX) announced today that it will release financial results for the first quarter 2025 on Friday, May 2, 2025, and host a conference call via public webcast at 9:00 a.m. ET. To register, please use the following link: https://edge.media-server.com/mmc/p/ah6qnzkp For those unable to listen to the live broadcast, there will be a webcast replay on the Shareholders section of Patria's website at https://ir.patria.com/. Patria distri ...

Core Insights - Albert Anthony is a Croatian-American media personality active on investor platforms, focusing on markets and stocks, with a growing follower base of over 1,000 since 2023 [1] - He is set to launch a new book titled "Financial Markets: Growing A Dividend Income Portfolio" in 2025, coinciding with an ongoing series of articles on the same topic [1] - Albert Anthony has a background in management and information systems, having worked in a top-10 financial firm's IT department, and has participated in various business and innovation conferences [1] Company Overview - Albert Anthony & Co. is a sole proprietorship registered in Austin, Texas, and is not a registered financial advisor, providing general market commentary based on publicly available data [1] - The company focuses on building a dividend portfolio through its Future Investor Fund, which is managed by Albert Anthony as a home-based investor [1] Educational Background - Albert Anthony has completed degrees and certificates from several institutions, including Drew University, Corporate Finance Institute, UVA Darden School of Business, CompTIA, and Microsoft [1]