TPG(TPG)2025-05-07 20:02Financial Performance - Total revenues for Q1 2025 reached 824,071 in Q1 2024[18] - Net income attributable to TPG Inc. for Q1 2025 was 9,006 in Q1 2024[18] - For the three months ended March 31, 2025, TPG Inc. reported a net income of 9,006 in the same period of 2024, indicating a significant turnaround in performance[26] - Net income attributable to Class A common stockholders before distributions was 15,519,000 in Q1 2024, reflecting a year-over-year increase of 63.5%[209] - The diluted net income attributable to Class A common stockholders was 38,362,000 in Q1 2024[209] - The basic net income available to Class A common stock per share was 0.09 in Q1 2024[209] Revenue Breakdown - Management fees increased to 407,417,000 in Q1 2024, reflecting a growth of 3.8%[54] - Performance allocations rose significantly to 289,643,000 in Q1 2024, marking a 55.5% increase[54] - Capital interests also saw growth, increasing to 22,133,000 in Q1 2024, which is an 84.6% increase[54] - The company recorded total capital allocation-based income of 311,776,000 in Q1 2024, representing a 57.7% increase[54] - Monitoring fees increased to 6,108,000 in Q1 2024, a growth of 28.6%[54] - Transaction fees grew to 36,186,000 in Q1 2024, reflecting a 31.1% increase[54] - Incentive fees increased to 3,875,000 in Q1 2024, a rise of 60.5%[54] Assets and Liabilities - Total assets increased to 10,535,109 as of December 31, 2024, representing a growth of 7.4%[15] - Total liabilities rose to 6,943,120 as of December 31, 2024, marking an increase of 12.6%[15] - The accumulated deficit as of March 31, 2025, was (186,983) as of December 31, 2024[15] - Non-controlling interests decreased to 2,807,888 as of December 31, 2024[15] Cash Flow and Investments - Net cash provided by operating activities was 436,713 in the prior year[26] - TPG Inc. reported proceeds from investments of 384,595, reflecting a 11.9% increase[26] - The total cash, cash equivalents, and restricted cash at the end of the period was 1,104,040, representing a decline of 24.4%[26] - TPG Inc. had a net cash used in investing activities of 25,341 in the prior year, indicating reduced investment outflows[26] - Proceeds from debt obligations amounted to 1,218,500 in the same quarter of the previous year[26] Compensation and Expenses - Performance allocation compensation expenses increased to 196,434 in Q1 2024, reflecting a rise of 51.9%[18] - Equity-based compensation decreased to 227,908 in Q1 2024, a decline of 9.7%[18] - The company incurred 58,048 in the previous year, marking a significant increase[26] - The total lease cost for the three months ended March 31, 2025, was 14.4 million for the same period in 2024, indicating an increase of approximately 76.3%[183] Shareholder Information - The weighted-average shares of Class A common stock outstanding increased to 117,408,263 in Q1 2025 from 89,113,782 in Q1 2024[18] - Dividends declared per share of Class A common stock increased to 0.41 in Q1 2024, representing a growth of 29.3%[210] - As of March 31, 2025, TPG Inc. had 33,130,147 shares of Class A common stock available to be issued under its Omnibus Equity Incentive Plan[211] - The company registered an additional 6,540,183 shares of Class A common stock on February 27, 2025, increasing the total share reserve to 36,496,786[211] Tax and Legal Matters - The Company's effective tax rate for the three months ended March 31, 2025, was 6.7%, compared to (94.9)% for the same period in 2024[170] - The Company has not recorded a potential liability related to any pending legal proceeding except as disclosed, indicating a cautious approach to legal risks[197]