v3.26.1
Business Segment and Geographic Information (Tables)
 3 Months Ended
Mar. 31, 2026
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,
20262025
(dollars in thousands)
Revenues
Institutional$404,925 $308,071 
Wholesale115,587 102,287 
Retail33,435 35,895 
Corporates26,890 24,717 
Market Data36,927 38,707 
Total revenue617,764 509,677 
Less:
Employee compensation and benefits197,793 176,877 
Technology and communications39,549 28,728 
General and administrative11,944 19,740 
Professional fees12,324 12,458 
Occupancy8,192 5,074 
Other segment items (1)
114,795 98,495 
Net income$233,167 $168,305 
(1)Other segment items include depreciation and amortization, the tax receivable agreement liability adjustment (as applicable), 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,
20262025
(dollars in thousands)
Revenues
U.S.$343,652 $297,881 
International274,112 211,796 
Total revenue$617,764 $509,677 
The following table provides information on the attribution of long-lived assets by geographic area:
March 31,December 31,
20262025
(dollars in thousands)
Long-lived assets
U.S.$4,704,551 $4,737,934 
International32,442 31,746 
Total$4,736,993 $4,769,680