Pelangio Exploration Inc. to Attend the 2024 Precious Metals Summit ZurichNovember 10, 2024 9:40 AM EST | Source: Pelangio Exploration Inc.Toronto, Ontario--(Newsfile Corp. - November 10, 2024) - Pelangio Exploration Inc. (TSXV: PX) (OTC Pink: PGXPF) ("Pelangio" or the "Company) is pleased to announce that the company will attend the upcoming 2024 Precious Metals Summit in Zurich, taking place from November 14th to November 15, 2024. This exclusive event gathers top-tier investors, analysts, a ...

Call Start: 17:00 Call End: 17:41 January 1, 0000 ET Q3 2024 Earnings Conference Call November 07, 2024 05:00 PM ET Company Participants Mark Hood - Executive Vice President of Operations & Investor Relations Luke Sarsfield - Chairman & Chief Executive Officer Amanda Coussens - Executive Vice President, Chief Financial Officer & Chief Compliance Officer Conference Call Participants Alex Bernstein - JPMorgan Ben Rubin - UBS Ben Budish - Barclays Operator Hello, and welcome to the P10 Third Quarter 2024 Confe ...

Third Quarter 2024 Results Earnings Presentation Legal Disclaimer IMPORTANT NOTICES The inclusion of references to P10, Inc. ("P10" or the "Company") in this presentation is for information purposes only as the holding company of various subsidiaries. P10 does not offer investment advisory services and this presentation is neither an offer of any investment products nor an offer of advisory services by P10. By accepting this presentation, you acknowledge that P10 is not offering investment advisory services ...

Asset Management - As of September 30, 2024, the Company managed $13.4 billion of Fee-Paying Assets Under Management (FPAUM) in Private Equity Solutions[165] - Venture Capital Solutions managed $6.4 billion of FPAUM as of September 30, 2024, with a focus on high-performing, access-constrained opportunities[166] - Private Credit Solutions managed approximately $5.1 billion of FPAUM as of September 30, 2024, targeting lower middle market companies[166] - Primary Investment Funds comprise approximately $13.7 billion of FPAUM as of September 30, 2024, focusing on long-term, fixed fee management contracts[168] - Direct and Co-Investment Funds account for approximately $9.6 billion of FPAUM as of September 30, 2024, with fees typically based on committed capital[169] - Secondary Funds comprise approximately $1.6 billion of FPAUM as of September 30, 2024, involving investments in existing private markets funds[169] - FPAUM increased by $1.1 million to $24.9 million for the three months ended September 30, 2024, and by $1.7 billion, or 7.2%, for the nine months ended September 30, 2024[210] Financial Performance - Total revenues for the nine months ended September 30, 2024, were $211,434,000, up 18% from $178,667,000 in the same period of 2023[185] - Total revenue for the three months ended September 30, 2024 increased by $15.3 million, or 26%, to $73.8 million compared to the same period in 2023, driven by organic FPAUM growth across multiple segments[186] - Total revenue for the three months ended September 30, 2024, were $74.2 million, compared to $58.9 million for the same period in 2023, representing a year-over-year increase of 26%[216] - Adjusted EBITDA for the three months ended September 30, 2024, was $35.3 million, up from $29.6 million in the same period of 2023, reflecting a 19% increase[216] - Total revenue for the nine months ended September 30, 2024 increased by $32.8 million, or 18%, to $215.5 million compared to the same period in 2023, primarily due to organic FPAUM growth[189] Expenses and Costs - Operating expenses increased to $173,670,000 for the nine months ended September 30, 2024, compared to $163,089,000 in 2023, reflecting a 6% rise[185] - Professional fees surged by 62% to $16,472,000 for the nine months ended September 30, 2024, compared to $10,191,000 in 2023[185] - Total operating expenses for the three months ended September 30, 2024 increased by $6.9 million, or 12%, to $65.4 million, mainly due to higher professional fees and general administrative expenses[193] - Professional fees surged by $5.8 million, or 173%, to $9.2 million for the three months ended September 30, 2024, driven by legal fees associated with debt refinancing and management transitions[195] - Compensation and benefits expenses rose to $115,893,000 for the nine months ended September 30, 2024, a 2% increase from $114,128,000 in 2023[185] Stock and Shareholder Actions - The Board approved a stock repurchase program totaling $40 million in 2022, with an additional $40 million authorized in February 2024 and $12 million in August 2024, totaling $78.1 million spent as of September 30, 2024[167] Growth and Market Outlook - The Company anticipates continued growth driven by increasing demand for private market solutions and favorable lower market dynamics[172] - The company anticipates that the demand for asset class diversification will rise as investors increase allocations to private markets investments[174] - The company aims to expand its investor presence into international markets, which could be a significant growth driver[174] - The company expects to continue expanding fundraising efforts and grow FPAUM with the launch of new specialized investment vehicles and asset class solutions[210] Compliance and Regulatory Environment - The SEC's new compliance requirements are expected to increase compliance costs and restrict certain business activities, impacting profitability[174] - As of September 30, 2024, the company was in compliance with all financial covenants required under its credit facility[222] Cash Flow and Liquidity - Net cash provided by operating activities increased by $27.5 million, or 60%, to $73.3 million for the nine months ended September 30, 2024 compared to the same period in 2023[225] - Cash used in investing activities rose by $2.6 million, or 362%, to $3.4 million for the nine months ended September 30, 2024, primarily due to purchases of leasehold improvements[226] - Cash used in financing activities decreased by $13.7 million, or 26%, to $38.7 million for the nine months ended September 30, 2024, driven by cash provided from debt refinancing[227] - The increase in cash, cash equivalents, and restricted cash was $31.2 million for the nine months ended September 30, 2024, compared to a decrease of $7.3 million in the same period in 2023, representing a change of $38.5 million or 529%[224] - The company expects to continue meeting its liquidity and capital requirements through cash flows from operating activities, existing cash, and external financing activities[228] Debt and Interest - Debt obligations rose to $319.4 million as of September 30, 2024, an increase of 10% from $289.8 million as of December 31, 2023[217] - The new senior secured revolving credit facility amounts to $175 million, with a new senior secured loan facility of $325 million established in August 2024[219] - The company incurred $17.5 million in interest expense for the nine months ended September 30, 2024[222] - The annual interest rate on the Term Loan is based on SOFR, with a floor of 0.10% plus 2.50%, resulting in an effective interest rate of 2.6% + SOFR as of September 30, 2024[250] - A 100-basis point increase in interest rates is estimated to increase interest expenses by approximately $3.2 million over the next 12 months[250] Market Risks - The company is exposed to various market risks, including price risk and interest-rate risk, which may impact its financial performance[247] - The company is exposed to credit risk due to reliance on counterparties to meet the terms of financial agreements[251] - The company aims to minimize exposure to credit risk by limiting transactions to reputable financial institutions[251] - Uncertainty in financing availability from financial institutions may arise due to market events, potentially impacting access to financing markets[251]

For the quarter ended September 2024, P10, Inc. (PX) reported revenue of $74.24 million, up 26% over the same period last year. EPS came in at $0.26, compared to $0.20 in the year-ago quarter.The reported revenue represents a surprise of +10.08% over the Zacks Consensus Estimate of $67.45 million. With the consensus EPS estimate being $0.20, the EPS surprise was +30.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street exp ...

P10, Inc. (PX) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.20 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 30%. A quarter ago, it was expected that this company would post earnings of $0.20 per share when it actually produced earnings of $0.24, delivering a surprise of 20%.Over the last four quarters, the company has surpassed ...

AMENDED AND RESTATED EMPLOYMENT AGREEMENT This Amended and Restated Employment Agreement (the "Agreement"), is hereby entered into as of November 5, 2024 (the "Effective Date"), by and between P10 Intermediate Holdings, LLC, a Delaware corporation (the "Company"), and Luke A. Sarsfield III (the "Executive"), and amends and restates the Employment Agreement (the "Original Agreement") between the Company and the Executive, dated as of October 20, 2023 (the "Start Date"), which shall cease to have any further ...

P10, Inc. (PX) is expected to deliver flat earnings compared to the year-ago quarter on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on November 7, 2024, might help the stock move higher if these key numbers are bett ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? P10, Inc. (PX) , which belongs to the Zacks Financial - Miscellaneous Services industry, could be a great candidate to consider.This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 15.26%.For the last reported quarte ...

DALLAS, Oct. 18, 2024 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE: PX), a leading private markets solutions provider, today announced it will release its third quarter 2024 results on Thursday, November 7, 2024, after U.S. markets close. The company will also host a conference call at 5:00 p.m. Eastern Time the same day. The webcast may be accessed here. All participants joining by telephone should register here for personal dial-in and PIN numbers. For those unable to participate in the live call, a replay will be ...