Financial Overview - For Q3 2025, revenues were $164.6 million, a decrease of 41% from $278.2 million in Q3 2024, primarily due to fewer M&A closings [4][6] - For the nine months ended September 30, 2025, revenues totaled $531.7 million, down 18% from $652.4 million in the same period of 2024 [4][6] Expenses - Total GAAP compensation and benefits for Q3 2025 were $116.3 million, compared to $202.3 million in Q3 2024, reflecting lower bonus accruals due to decreased revenues [5][8] - For the nine months ended September 30, 2025, total GAAP compensation and benefits were $373.9 million, down from $628.2 million in the prior year, influenced by a one-time accelerated vesting in 2024 [10] - GAAP non-compensation expenses for Q3 2025 were $39.4 million, slightly down from $40.0 million in Q3 2024, driven by lower general and administrative expenses [9] Income and Earnings - Adjusted pre-tax income for Q3 2025 was $20 million, with GAAP pre-tax income at $12 million [6] - Adjusted EPS for Q3 2025 was $0.13, while GAAP diluted EPS was $0.08 [6] - For the nine months ended September 30, 2025, adjusted pre-tax income was $53 million, with GAAP pre-tax income at $30 million [6] Talent Investment - The company added 25 senior bankers and closed the acquisition of Devon Park Advisors, indicating a strategic investment in talent to enhance advisory capabilities [2] Capital Management - As of September 30, 2025, the company had $186 million in cash and no debt, with a strong balance sheet [6][15] - The company returned over $157 million to equity holders through share repurchases and dividends [16][17]

Financial Overview - Perella Weinberg Partners reported first quarter revenues of $211.8 million, a 107% increase from $102.1 million in the same period last year, driven by larger transactions and related fee events across various sectors and geographies [3][4][23] - The company achieved an adjusted pre-tax income of $21 million and a GAAP pre-tax income of $12 million for the quarter [5][10] - Adjusted earnings per share (EPS) was $0.28, while GAAP diluted EPS was $0.24 [5][10] Expenses - Total compensation and benefits for Q1 2025 were $149.2 million, up from $115.4 million in Q1 2024, with a compensation ratio of 70% compared to 113% in the previous year [4][23] - Non-compensation expenses increased to $50.9 million from $40.3 million year-over-year, primarily due to higher professional fees and travel costs [5][23] Capital Management - The company maintained a strong balance sheet with $111 million in cash and no debt as of March 31, 2025 [9][10] - Perella Weinberg returned $121 million to equity holders through share repurchases and dividends, including a declared quarterly dividend of $0.07 per share [10][11] Talent Investment - The firm added four managing directors and plans to onboard two additional partners and two managing directors in the coming months, indicating a focus on talent acquisition to support growth [5][10]