v3.25.1
Condensed Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 1,306,455 $ 1,340,302
Restricted cash 1,000 1,000
Receivable from brokers and dealers and clearing organizations 135,760 67,805
Deposits with clearing organizations 102,048 54,702
Accounts receivable, net of allowance for credit losses of $288 and $447 at March 31, 2025 and December 31, 2024, respectively 271,505 222,268
Furniture, equipment, purchased software and leasehold improvements, net of accumulated depreciation and amortization 43,837 45,973
Lease right-of-use assets 29,813 33,550
Software development costs, net of accumulated amortization 288,368 296,721
Goodwill 3,150,112 3,150,112
Intangible assets, net of accumulated amortization 1,246,295 1,280,892
Receivable and due from affiliates 1,100 8,094
Deferred tax asset 660,722 659,203
Other assets 132,946 107,371
Total assets 7,369,961 7,267,993
Liabilities    
Payable to brokers and dealers and clearing organizations 104,799 67,816
Accrued compensation 103,485 222,959
Deferred revenue 46,980 30,800
Accounts payable, accrued expenses and other liabilities 122,132 95,290
Lease liabilities 32,271 35,748
Payable and due to affiliates 574 763
Deferred tax liability 42,742 42,893
Tax receivable agreement liability 369,773 372,839
Total liabilities 822,756 869,108
Commitments and contingencies (Note 13)
Equity    
Preferred stock, $0.00001 par value; 250,000,000 shares authorized; none issued or outstanding 0 0
Additional paid-in capital 4,821,151 4,813,408
Accumulated other comprehensive income (loss) (1,811) (9,981)
Retained earnings 1,119,572 996,763
Total stockholders’ equity attributable to Tradeweb Markets Inc. 5,938,914 5,800,192
Non-controlling interests 608,291 598,693
Total equity 6,547,205 6,398,885
Total liabilities and equity 7,369,961 7,267,993
Class A Common Stock    
Equity    
Common stock, value 1 1
Class B Common Stock    
Equity    
Common stock, value 1 1
Class C Common Stock    
Equity    
Common stock, value 0 0
Class D Common Stock    
Equity    
Common stock, value $ 0 $ 0