AlTi Global (ALTI) Q3 2025 earnings summary

Executive summary

• Consolidated revenues reached $57.2 million in Q3 2025, up 10% year-over-year, driven by core wealth management and the Kontora acquisition.

• The business is now organized as a single operating segment after the wind-down and disposal of the International Real Estate segment.

• Management fees totaled $52 million, with 95–96% of revenues recurring.

• Significant non-cash, non-recurring charges of ~$100 million, including a $35 million impairment, impacted GAAP results but not liquidity.

• The company managed or advised $89.2 billion in assets and employed 490 professionals across 19 cities in 9 countries.

Financial highlights

• Q3 2025 revenue was $57.2 million, up $5.4 million year-over-year; AUM at period end was $49.3 billion, up 6% year-over-year.

• Adjusted EBITDA was $6.2 million, down from $11.8 million in Q3 2024; adjusted net income was a loss of $1 million.

• GAAP net loss was $107 million, primarily due to the real estate wind-down, fund impairment, and deferred tax asset valuation allowance.

• Compensation and employee benefits increased due to acquisition-related costs and new equity grants.

• For the nine months, revenue was $166.7 million, up $19.8 million year-over-year.

Outlook and guidance

• Focus remains on stable, recurring revenue growth in wealth management and margin expansion through cost initiatives and technology transformation.

• Expecting approximately $20 million in recurring annual gross savings from cost initiatives by end of 2026.

• Management continues to monitor macroeconomic factors and expects additional costs for integration and internal control remediation.

• Strategic investments and partnerships, notably with Allianz X and CWC, provide capital for M&A and international growth.