AlTi Global (ALTI) investor relations material

Executive summary

• Consolidated revenues reached $57.2M in Q3 2025, up 10% year-over-year and 9% sequentially, driven by core wealth management momentum and acquisitions.

• Management fees totaled $52M, up 7% year-over-year and 15% sequentially, with 96% of revenues recurring.

• AUM expanded to $49.3B, a 6% year-over-year increase, supported by market performance and the Kontora acquisition.

• Strategic simplification included the wind-down and disposal of the international real estate business, now presented as discontinued operations.

• Transitioned to a single reporting segment for enhanced transparency and comparability.

Financial highlights

• Q3 2025 revenue was $57.2M, up $5.4M year-over-year; adjusted EBITDA was $6.2M, with adjusted net income loss of $1M.

• GAAP net loss was $107M, primarily due to non-cash, non-recurring charges from the real estate exit, arbitrage fund impairment, and deferred tax valuation allowance.

• Normalized operating expenses were $51M, up from $43M year-over-year, mainly due to the Kontora acquisition and higher professional fees.

• AUM at period end was $49.3B, up 6% year-over-year; AUA reached $89.2B, up 31%.

• Impairment losses on intangible assets of $35M were recognized in Q3 2025.

Outlook and guidance

• Focus remains on stable, recurring revenue growth in wealth management, organic initiatives, and strategic M&A.

• Margin expansion targeted through cost discipline, zero-based budgeting, and technology transformation.

• Strategic investments and partnerships, notably with Allianz X and Constellation Wealth Capital, provide capital for M&A and international growth.

• No formal EBITDA guidance provided, but management confident in expanding margins and improved cash flow.

• Management continues to monitor macroeconomic factors, including market performance, interest rates, and inflation.