P10 Holdings, Inc. ( (PX) ) has released its Q3 earnings. Here is a breakdown of the information P10 Holdings, Inc. presented to its investors.
P10 Holdings, Inc. is a prominent private markets solutions provider operating within the alternative asset management industry, offering a broad range of investment solutions to a global clientele. In its latest earnings report, the company showcased a robust financial performance for the third quarter of 2024, achieving a record revenue of $74.2 million, marking a significant 26% increase year over year. Key highlights include a notable enhancement in fee-related revenue and a strategic acquisition aimed at further expansion. The company’s financial performance was marked by a 10% increase in fee-paying assets under management, reaching $24.9 billion. Furthermore, the company reported a GAAP net income of $1.3 million, a stark improvement from a loss of $8.8 million in the same quarter of the previous year. Adjusted EBITDA also saw an increase, rising to $35.3 million from $29.6 million, alongside a rise in adjusted net income to $30.8 million from $24.3 million. Strategic moves such as the agreement to acquire Qualitas Funds and an expanded credit agreement highlight the company’s growth trajectory and financial strategy. Looking ahead, P10 remains optimistic about its growth prospects, supported by strategic acquisitions, an expanded credit facility, and a solid financial foundation aimed at enhancing shareholder returns.
