v3.25.1
Business Segment and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Information Regarding Revenue by Client Sector
Information regarding revenue from external clients by client sector, significant segment expenses and consolidated net income is as follows:
Three Months Ended
March 31,
20252024
(dollars in thousands)
Revenues
Institutional$308,071 $247,337 
Wholesale102,287 97,211 
Retail35,895 35,169 
Corporates24,717 — 
Market Data38,707 29,022 
Total revenue509,677 408,739 
Less:
Employee compensation and benefits176,877 143,087 
Technology and communications28,728 21,310 
General and administrative19,740 10,854 
Professional fees12,458 11,800 
Occupancy5,074 4,673 
Other segment items (1)
98,495 73,633 
Net income$168,305 $143,382 
(1)Other segment items include depreciation and amortization, the tax receivable agreement liability adjustment, interest income, interest expense, other (income) loss, net and provision for income taxes, each as presented on the accompanying condensed consolidated statements of income.
Schedule of Revenue and Long-Lived Assets by Geographic Location
The following table provides revenue by geographic area:
Three Months Ended
March 31,
20252024
(dollars in thousands)
Revenues
U.S.$297,881 $254,098 
International211,796 154,641 
Total revenue$509,677 $408,739 
The following table provides information on the attribution of long-lived assets by geographic area:
March 31,December 31,
20252024
(dollars in thousands)
Long-lived assets
U.S.$4,731,389 $4,777,770 
International27,036 29,478 
Total$4,758,425 $4,807,248