$ALTI

AlTi Global, Inc.

CIK:0001838615|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Total revenue	$ 58,023	$ 52,376	$ 131,128	$ 109,463
Operating Expenses
Compensation and employee benefits	41,367	43,502	97,641	83,921
Systems, technology and telephone	4,694	5,030	9,100	10,352
Sales, distribution and marketing	1,021	1,051	1,990	1,655
Occupancy costs	2,960	3,221	5,888	6,753
Professional fees	9,276	15,421	18,328	24,539
Travel and entertainment	967	940	1,808	1,798
Depreciation and amortization	4,689	4,619	9,395	8,968
General, administrative and other	3,900	4,172	8,493	5,467
Total operating expenses	68,874	77,955	152,643	143,452
Total operating loss	(10,851)	(25,579)	(21,515)	(33,989)
Other Income (Expenses)
Gain (loss) on investments	(21,377)	3,484	(15,768)	(870)
Gain (loss) on TRA	221	(748)	422	(444)
Gain (loss) on preferred stock tranche liability	250	(750)	1,250	1,790
Gain (loss) on earn-out liabilities	102	(7,385)	9,683	5,198
Interest expense	(372)	(2)	(461)	(153)
Interest income	207	306	620	811
Other income (expense)	1,170	(145)	3,468	(748)
Loss before taxes from continuing operations	(30,650)	(30,819)	(22,301)	(28,405)
Income tax (expense) benefit from continuing operations	(101)	4,758	(60)	6,381
Net loss from continuing operations	(30,751)	(26,061)	(22,361)	(22,024)
Net loss from discontinued operations, net of income tax	0	(3,982)	0	(10,901)
Net loss	(30,751)	(30,043)	(22,361)	(32,925)
Net loss attributed to non-controlling interests in subsidiaries from continuing operations	(7,277)	(5,681)	(6,591)	(10,473)
Net loss attributable to AlTi Global, Inc.	$ (23,474)	$ (24,362)	$ (15,770)	$ (22,452)
Basic:
Continuing operations (in dollars per share)	$ (0.31)	$ (0.33)	$ (0.31)	$ (0.30)
Discontinued operations (in dollars per share)	0	(0.04)	0	(0.11)
Diluted:
Continuing operations (in dollars per share)	(0.31)	(0.33)	(0.31)	(0.30)
Discontinued operations (in dollars per share)	$ 0	$ (0.04)	$ 0	$ (0.11)
Weighted Average Shares of Class A Common Stock Outstanding
Basic (in shares)	110,857,966	99,915,503	107,956,035	97,413,553
Diluted (in shares)	110,857,966	99,915,503	107,956,035	97,413,553
Continuing operations
Weighted Average Shares of Class A Common Stock Outstanding
Basic (in shares)	110,857,966	99,915,503	107,956,035	97,413,553
Diluted (in shares)	110,857,966	99,915,503	107,956,035	97,413,553
Discontinued operations
Weighted Average Shares of Class A Common Stock Outstanding
Basic (in shares)	0	99,915,503	0	97,413,553
Diluted (in shares)	0	99,915,503	0	97,413,553
Management/advisory fees
Revenue
Total revenue	$ 54,444	$ 49,237	$ 106,339	$ 94,012
Incentive fees
Revenue
Total revenue	19	454	(70)	550
Distributions from investments
Revenue
Total revenue	3,416	2,664	24,684	14,874
Other income/fees
Revenue
Total revenue	$ 144	$ 21	$ 175	$ 27

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net loss	$ (30,751)	$ (30,043)	$ (22,361)	$ (32,925)
Net loss from discontinued operations, net of tax	0	(3,982)	0	(10,901)
Net loss from continuing operations	(30,751)	(26,061)	(22,361)	(22,024)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities from continuing operations:
Depreciation and amortization	4,689	4,619	9,395	8,968
Amortization of debt discounts and deferred financing costs			(845)	0
Unrealized loss on investments			15,768	771
Realized loss on investments			0	561
Fair value (gain) loss on TRA	(221)	748	(422)	444
Realized gain on earn-out payment			(2,038)	0
Fair value gain on earn-out liability	(102)	7,385	(9,683)	(5,198)
Fair value gain on preferred stock tranche liability			(1,250)	(1,790)
Deferred income tax expense (benefit)			1	(6,790)
Equity-settled share-based payments			15,274	21,233
Cash flows due to changes in operating assets and liabilities
(Increase) decrease in fees receivable			29,687	(1,858)
(Increase) decrease in other assets			3,613	(3,671)
Operating cash flow from operating leases			863	1,749
Increase (decrease) in accounts payable and accrued expenses			(5,027)	(13,311)
Increase (decrease) in accrued compensation and profit sharing			(28,278)	(21,160)
Increase (decrease) in other liabilities			(1,946)	(8,588)
Other operating activities			0	(2)
Net cash provided by (used in) operating activities from continuing operations			2,864	(50,552)
Cash Flows from Investing Activities
Purchases of investments			(4)	(28)
Acquisition of Kontora, net of cash acquired			0	(6,556)
Sales of investments			57	171
Proceeds from Pointwise warehousing transaction			0	20,449
Loss on disposal of intangible assets			0	(9)
Purchases of fixed assets			(742)	(806)
Net cash provided by investing activities from continuing operations			(689)	13,222
Cash Flows from Financing Activities
Proceeds from issuance of preferred stock and Constellation Warrants			0	18,471
Payments on term notes and lines of credit			(2,754)	(82)
Cash payment for earn-out			(3,671)	(5,085)
Repurchase of common stock			(5,691)	0
Cash payment of earn-in liability			0	(1,300)
Net cash (used in) provided by financing activities from continuing operations			(12,116)	12,004
Cash Flows from Discontinued Operations:
Net cash provided by (used in) operating activities from discontinued operations			0	432
Net cash provided by (used in) investing activities from discontinued operations			0	118
Net cash provided by discontinued operations			0	550
Net decrease in cash and cash equivalents, including discontinued operations			(9,941)	(24,775)
Effect of exchange rate changes on cash and cash equivalents, including discontinued operations			(21)	1,695
Cash and cash equivalents, including discontinued operations, at beginning of the period			41,158	65,494
Cash and cash equivalents, including discontinued operations, at end of the period	31,196	42,414	31,196	42,414
Less: Cash and cash equivalents of discontinued operations, at end of the period	0	0	0	0
Cash and cash equivalents	31,196	42,414	31,196	42,414
Reconciliation of balance sheet cash and cash equivalents to cash flows:
Cash and cash equivalents on balance sheet	31,196	40,868	31,196	40,868
Cash and cash equivalents, discontinued operations	0	1,546	0	1,546
Cash and cash equivalents, including discontinued operations	$ 31,196	$ 42,414	31,196	42,414
Supplemental Disclosure of Cash Flow Information
Income taxes			847	189
Interest payments on term notes and lines of credit			505	10
Supplemental disclosure of noncash financing activities:
Non-cash portion of earn-out liability			2,004	0
Shareholder Loan
Adjustments to reconcile net loss to net cash provided by (used in) operating activities from continuing operations:
Forgiveness of debt shareholder loan			$ 113	$ 112

Condensed Consolidated Statements of Financial Position (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 31,196	$ 41,158
Investments at fair value	128,354	144,196
Equity method investments	144	138
Intangible assets, net of accumulated amortization	426,999	436,157
Goodwill	384,445	385,966
Operating lease right-of-use assets	47,663	46,686
Deferred tax asset, net	0	130
Other assets, net	51,885	56,446
Total assets	1,106,494	1,176,448
Liabilities
Accounts payable and accrued expenses	28,198	48,637
Accrued compensation and profit sharing	37,599	77,286
Accrued member distributions payable	3,358	3,260
Earn-out liabilities, at fair value	39,817	57,411
TRA liability (includes $8,363 and $8,785 at fair value, respectively)	30,333	25,724
Preferred stock tranche liability, at fair value	1,160	2,410
Operating lease liabilities	63,520	61,675
Debt, net of unamortized deferred financing cost	12,333	883
Deferred tax liability, net	9,425	9,697
Deferred income	331	0
Other liabilities, net	12,204	14,676
Total liabilities	238,278	301,659
Commitments and contingencies (Note 20)
Shareholders’ Equity
Treasury stock, at cost: 1,300,341 and 0 shares as of June 30, 2026 and December 31, 2025, respectively	(5,691)	0
Additional paid-in capital	690,026	667,298
Retained earnings (accumulated deficit)	(433,785)	(418,015)
Accumulated other comprehensive income (loss)	2,886	4,975
Total AlTi Global, Inc. shareholders’ equity	612,029	600,106
Non-controlling interest in subsidiaries	256,187	274,683
Total shareholders’ equity	868,216	874,789
Total liabilities, mezzanine equity, and shareholders’ equity	1,106,494	1,176,448
Series A Preferred Stock
Mezzanine Equity
Preferred stock	173,052	168,934
Series C Preferred Stock
Mezzanine Equity
Preferred stock	185,529	176,904
Class A Common Stock
Shareholders’ Equity
Common stock	12	10
Class B Common Stock
Shareholders’ Equity
Common stock	0	0
Class C Common Stock
Shareholders’ Equity
Common stock	0	0
Fees receivable, net
Assets
Fees receivable, net (includes $563 and $9,535 of related party receivables, respectively)	$ 35,808	$ 65,571