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 |
|
| Operating Revenues: | ||||
| Total revenues | $ 177,160 | $ 112,621 | $ 336,630 | $ 220,703 |
| Operating Expenses: | ||||
| Compensation and benefits | 43,718 | 32,827 | 91,235 | 66,615 |
| Fund management and administration | 30,229 | 21,252 | 55,109 | 41,966 |
| Marketing and advertising | 6,041 | 5,330 | 11,433 | 10,143 |
| Sales and business development | 4,938 | 4,232 | 9,135 | 8,369 |
| Professional fees | 4,098 | 3,177 | 7,406 | 5,959 |
| Occupancy, communications and equipment | 2,229 | 1,559 | 4,164 | 3,041 |
| Depreciation and amortization | 3,415 | 580 | 5,511 | 1,120 |
| Third-party distribution fees | 5,401 | 4,083 | 11,196 | 7,195 |
| Acquisition-related costs | 1,118 | 1,967 | 3,051 | 1,967 |
| Other | 4,162 | 2,982 | 7,229 | 5,534 |
| Total operating expenses | 105,349 | 77,989 | 205,469 | 151,909 |
| Operating income | 71,811 | 34,632 | 131,161 | 68,794 |
| Other Income/(Expenses): | ||||
| Interest expense | (14,852) | (5,490) | (25,875) | (10,931) |
| Interest income | 3,203 | 2,090 | 5,795 | 3,987 |
| Loss on repurchase of convertible notes (Note 9) | (6,623) | (68,925) | ||
| Remeasurement of contingent consideration (Note 10) | (1,360) | (3,922) | ||
| Other gains, net | 6,368 | 638 | 5,731 | 388 |
| Income before income taxes | 58,547 | 31,870 | 43,965 | 62,238 |
| Income tax expense | 14,263 | 7,093 | 22,812 | 12,832 |
| Net income | $ 44,284 | $ 24,777 | $ 21,153 | $ 49,406 |
| Earnings per share—basic | $ 0.3 | $ 0.17 | $ 0.15 | $ 0.35 |
| Earnings per share—diluted | $ 0.28 | $ 0.17 | $ 0.14 | $ 0.34 |
| Weighted-average common shares—basic | 149,001 | 143,076 | 143,533 | 142,830 |
| Weighted-average common shares—diluted | 156,276 | 146,640 | 154,386 | 146,513 |
| Cash dividends declared per common share | $ 0.03 | $ 0.03 | $ 0.06 | $ 0.06 |
| Advisory fees | ||||
| Operating Revenues: | ||||
| Total revenues | $ 146,300 | $ 103,241 | $ 281,180 | $ 202,790 |
| Management fees | ||||
| Operating Revenues: | ||||
| Total revenues | 5,369 | 10,600 | ||
| Performance fees | ||||
| Operating Revenues: | ||||
| Total revenues | 5,964 | 8,919 | ||
| Other revenues | ||||
| Operating Revenues: | ||||
| Total revenues | $ 19,527 | $ 9,380 | $ 35,931 | $ 17,913 |
| X | ||||||||||
- Definition Amount of expense for acquisition-related cost incurred to effect business combination. Includes, but is not limited to, finder's fee; advisory, legal, accounting, valuation, and other professional and consulting fees; and general administrative cost, including cost of maintaining internal acquisition department. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Business development involves the development of products and services, their delivery, design and their implementation. Business development includes a number of techniques designed to grow an economic enterprise. Such techniques include, but are not limited to, assessments of marketing opportunities and target markets, intelligence gathering on customers and competitors, generating leads for possible sales, follow-up sales activity, formal proposal writing and business model design. Business development involves evaluating a business and then realizing its full potential, using such tools as marketing, sales, information management and customer service. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The aggregate amount of communications, data processing and occupancy expenses. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The total expense recognized in the period for promotion, public relations, and brand or product advertising. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of expense classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of remeasurement of contingent consideration. No definition available.
|
| X | ||||||||||
- Definition The amount of third-party distribution fees. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|