v3.26.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenue:        
Total revenue $ 157,427 $ 141,720 $ 455,796 $ 412,313
Expenses:        
Employee compensation and benefits 64,115 57,196 183,323 168,390
Distribution and service fees 22,070 16,329 55,297 47,224
General and administrative 17,525 16,775 55,382 52,022
Depreciation and amortization 2,652 2,519 7,832 7,251
Total expenses 106,362 92,819 301,834 274,887
Operating income 51,065 48,901 153,962 137,426
Non-operating income (loss):        
Interest and dividend income 5,942 5,106 16,467 16,792
Gain (loss) from investments—net (1,320) 692 13,877 10,960
Foreign currency gain (loss)—net 311 859 904 (2,836)
Total non-operating income (loss) 4,933 6,657 31,248 24,916
Income before provision for income taxes 55,998 55,558 185,210 162,342
Provision for income taxes 15,166 13,924 47,592 35,647
Net income 40,832 41,634 137,618 126,695
Net (income) loss attributable to noncontrolling interests 1,412 77 (3,663) (8,357)
Net income attributable to common stockholders $ 42,244 $ 41,711 $ 133,955 $ 118,338
Earnings per share attributable to common stockholders:        
Basic (in dollars per share) $ 0.82 $ 0.81 $ 2.60 $ 2.31
Diluted (in dollars per share) $ 0.81 $ 0.81 $ 2.58 $ 2.30
Weighted average shares outstanding:        
Basic (shares) 51,567 51,205 51,518 51,143
Diluted (shares) 52,114 51,572 51,858 51,488
Investment advisory and administration fees        
Revenue:        
Total revenue $ 148,655 $ 133,628 $ 429,766 $ 388,944
Distribution and Shareholder Service        
Revenue:        
Total revenue 8,056 7,513 24,030 21,863
Other        
Revenue:        
Total revenue $ 716 $ 579 $ 2,000 $ 1,506