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ALTI Nasdaq· AlTi Global Inc.
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ALTI Nasdaq· AlTi Global Inc.
Earnings report Q3 2023

ALTI Global, Inc. Reports Strong Revenue Growth in Latest Quarter

Segments of Revenue

ALTI Global, Inc. reported total income of $49.24 million in the latest quarter, representing a significant increase from $18.58 million in the same period last year. The company's revenue was primarily driven by management/advisory fees, which amounted to $45.06 million, compared to $18.58 million in the previous year. Incentive fees contributed $0.89 million to the total income, while distributions from investments and other income/fees accounted for $2.60 million and $0.70 million, respectively.

Strengths

ALTI Global, Inc. demonstrated strong revenue growth in the latest quarter, with total income increasing by 165% compared to the same period last year. The significant increase in management/advisory fees played a key role in driving the company's revenue growth. This growth can be attributed to the company's ability to attract and retain clients, as well as its effective management of client portfolios. ALTI's management commented that the increase in management/advisory fees was primarily due to higher assets under management and favorable market conditions during the quarter.

Challenges

While ALTI Global, Inc. achieved strong revenue growth in the latest quarter, the company also experienced an increase in operating expenses. Compensation and employee benefits accounted for the largest portion of operating expenses, totaling $38.59 million. This represents a significant increase from $12.05 million in the same period last year. The company also saw higher professional fees, which amounted to $14.40 million, compared to $2.40 million in the previous year. These increased expenses may put pressure on the company's profitability and require careful cost management in the future.

Noteworthy

ALTI Global, Inc. reported a total income of $159.17 million for the nine-month period ending September 30, 2023, representing a substantial increase from $57.45 million in the same period last year. The company's strong performance can be attributed to the significant growth in management/advisory fees, which reached $138.97 million, compared to $57.45 million in the previous year. ALTI's management highlighted that the increase in management/advisory fees was driven by higher assets under management and favorable market conditions throughout the nine-month period.

Summary

ALTI Global, Inc. delivered a strong financial performance in the latest quarter, with a significant increase in total income driven by robust growth in management/advisory fees. The company's ability to attract and retain clients, coupled with favorable market conditions, contributed to this revenue growth. However, ALTI also faced challenges in the form of higher operating expenses, particularly in compensation and professional fees. Going forward, the company will need to carefully manage costs to maintain profitability. Overall, ALTI's strong revenue growth demonstrates its competitive position in the market and its ability to capitalize on market opportunities.

Source documents

Form 10-Q  filed on Nov 14, 2023
104 pages scanned

Reference data

Company financials Q3 revenue 91.7M
Analyst estimates Q3 EPS missed by -219.80%
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