AlTi (US:ALTI)2025-08-11 20:02PART I – FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) This section presents AlTi Global, Inc.'s unaudited condensed consolidated financial statements, covering financial position, operations, comprehensive income, equity changes, and cash flows Condensed Consolidated Statement of Financial Position (Unaudited) The Condensed Consolidated Statement of Financial Position shows a slight decrease in total assets and liabilities from December 31, 2024, to June 30, 2025, while total shareholders' equity increased | (Dollars in Thousands) | As of June 30, 2025 | As of December 31, 2024 | | :--------------------- | :------------------ | :---------------------- | | Assets | | | | Cash and cash equivalents | $42,414 | $65,494 | | Total assets | $1,242,771 | $1,255,833 | | Liabilities | | | | Accounts payable and accrued expenses | $28,893 | $33,976 | | Total liabilities | $252,584 | $285,638 | | Mezzanine Equity | | | | Series A Preferred Stock | $164,914 | $142,858 | | Series C Preferred Stock | $168,681 | $160,808 | | Shareholders' Equity | | | | Total shareholders' equity | $990,187 | $970,195 | Condensed Consolidated Statement of Operations (Unaudited) AlTi Global, Inc. reported a net loss for both the three and six months ended June 30, 2025, significantly widening compared to the prior year, primarily driven by increased operating expenses and other income/expenses | (Dollars in Thousands) | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2024 | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2024 | | :--------------------- | :--------------------------------------- | :--------------------------------------- | :------------------------------------- | :------------------------------------- | | Revenue | | | | | | Management/advisory fees | $49,989 | $47,029 | $95,639 | $93,253 | | Incentive fees | $454 | $53 | $550 | $216 | | Distributions from investments | $2,664 | $2,240 | $14,874 | $6,410 | | Total income | $53,127 | $49,453 | $111,090 | $100,265 | | Operating Expenses | | | | | | Compensation and employee benefits | $44,601 | $38,893 | $86,875 | $78,450 | | Total operating expenses | $83,274 | $64,408 | $154,726 | $129,888 | | Total operating income (loss) | $(30,147) | $(14,955) | $(43,636) | $(29,623) | | Net income (loss) | $(30,043) | $(9,368) | $(32,925) | $12,717 | | Net income (loss) attributable to AlTi Global, Inc. | $(24,362) | $(6,403) | $(22,452) | $23,286 | | Net Income (Loss) Per Share - Basic | $(0.33) | $(0.18) | $(0.37) | $0.16 | | Net Income (Loss) Per Share - Diluted | $(0.33) | $(0.18) | $(0.37) | $0.00 | Condensed Consolidated Statement of Comprehensive Income (Loss) (Unaudited) The company reported a comprehensive loss for both the three and six months ended June 30, 2025, primarily influenced by the net loss and foreign currency translation adjustments | (Dollars in Thousands) | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2024 | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2024 | | :--------------------- | :--------------------------------------- | :--------------------------------------- | :------------------------------------- | :------------------------------------- | | Net income (loss) | $(30,043) | $(9,368) | $(32,925) | $12,717 | | Other Comprehensive Income (Loss) | | | | | | Foreign currency translation adjustments | $8,938 | $1,060 | $12,187 | $(2,929) | | Total comprehensive income (loss) | $(21,106) | $(8,009) | $(20,763) | $9,999 | | Comprehensive income (loss) attributable to AlTi Global, Inc. | $(18,153) | $(5,447) | $(13,857) | $22,201 | Condensed Consolidated Statement of Changes in Mezzanine Equity and Shareholders' Equity (Unaudited) The company's total shareholders' equity increased from $970.2 million at January 1, 2025, to $990.2 million at June 30, 2025, despite a net loss, primarily due to preferred stock issuances, share-based compensation, and currency translation adjustments2832 | (Dollars in Thousands) | Balance at January 1, 2025 | Net income (loss) | Currency translation adjustment | Preferred stock tranche issuance | Share based compensation | TRA Exchange | Balance at June 30, 2025 | | :--------------------- | :------------------------- | :---------------- | :------------------------------ | :------------------------------- | :----------------------- | :----------- | :----------------------- | | Series A Preferred Stock | $142,858 | — | — | $18,471 | — | — | $164,914 | | Series C Preferred Stock | $160,808 | — | — | — | — | — | $168,681 | | Additional paid-in capital | $652,857 | — | — | — | $21,320 | $1,587 | $665,605 | | Retained earnings (accumulated deficit) | $(296,561) | $(22,452) | — | — | — | — | $(320,768) | | Accumulated other comprehensive income | $(1,569) | — | $12,187 | — | — | — | $6,960 | | Non-controlling interest in subsidiaries | $311,793 | $(10,473) | $3,575 | — | — | $(2,592) | $304,785 | | Total Shareholders' Equity | $970,195 | $(32,925) | $12,187 | $18,471 | $21,320 | $(1,005) | $990,187 | Condensed Consolidated Statement of Cash Flows (Unaudited) For the six months ended June 30, 2025, AlTi Global, Inc. experienced a net decrease in cash and cash equivalents, primarily due to cash used in operating activities, partially offset by cash provided by investing and financing activities3537 | (Dollars in Thousands) | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2024 | | :--------------------- | :------------------------------------- | :------------------------------------- | | Net cash provided by (used in) operating activities | $(50,118) | $(45,656) | | Net cash provided by (used in) investing activities | $13,339 | $(23,654) | | Net cash provided by (used in) financing activities | $12,004 | $112,225 | | Effect of exchange rate changes on cash | $1,69