AlTi Global Q3 revenue inches up year over year
ALTI•AlTi Global’s third-quarter revenue rose 1% year over year to $57.9 million, below the $65.8 million consensus estimate. Net loss narrowed 89% to $9.3 million, and assets under management rose 5% to $51.6 billion.
1. Quarterly results
Revenue increased to $57.9 million from $57.2 million a year earlier, below the $65.8 million consensus estimate. Net loss attributable to AlTi Global narrowed to $9.3 million from $84.1 million.
2. Costs and assets
Operating expenses fell 25% year over year, reflecting lower professional fees and reductions in compensation, general and administrative, and occupancy costs. Other expense of $4.5 million primarily reflected an unrealized loss on an external manager investment stake. Total assets under management rose 5% to $51.6 billion.
