v3.26.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 152,730 $ 136,126 $ 298,369 $ 270,593
Expenses:        
Employee compensation and benefits 61,506 56,640 119,208 111,194
Distribution and service fees 16,890 15,706 33,227 30,895
General and administrative 18,953 18,078 37,857 35,247
Depreciation and amortization 2,606 2,375 5,180 4,732
Total expenses 99,955 92,799 195,472 182,068
Operating income 52,775 43,327 102,897 88,525
Non-operating income (loss):        
Interest and dividend income 5,218 6,315 10,525 11,686
Gain (loss) from investments—net 14,186 6,715 15,197 10,268
Foreign currency gain (loss)—net (166) (2,523) 593 (3,695)
Total non-operating income (loss) 19,238 10,507 26,315 18,259
Income before provision for income taxes 72,013 53,834 129,212 106,784
Provision for income taxes 16,447 12,062 32,426 21,723
Net income 55,566 41,772 96,786 85,061
Net (income) loss attributable to noncontrolling interests (6,223) (4,923) (5,075) (8,434)
Net income attributable to common stockholders $ 49,343 $ 36,849 $ 91,711 $ 76,627
Earnings per share attributable to common stockholders:        
Basic (in dollars per share) $ 0.96 $ 0.72 $ 1.78 $ 1.50
Diluted (in dollars per share) $ 0.95 $ 0.72 $ 1.77 $ 1.49
Weighted average shares outstanding:        
Basic (shares) 51,545 51,165 51,493 51,112
Diluted (shares) 51,861 51,471 51,729 51,445
Investment advisory and administration fees        
Revenue:        
Total revenue $ 144,285 $ 128,545 $ 281,111 $ 255,316
Distribution and Shareholder Service        
Revenue:        
Total revenue 7,919 7,166 15,974 14,350
Other        
Revenue:        
Total revenue $ 526 $ 415 $ 1,284 $ 927