AlTi Global (ALTI) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue reached $53.1 million, up 7% year-over-year, with 99% from recurring fees and $97.2 billion in AUM/AUA, driven by acquisitions and market gains.

• Strategic actions included exiting the International Real Estate segment and acquiring Kontora, Envoi, EEA, and PW, expanding U.S. and European presence.

• Focused on ultra-high net worth clients with a global, open architecture platform and high client retention.

• Enhanced operational efficiency through zero-based budgeting, automation, and governance improvements, targeting $20 million in annual gross savings.

• Strategic partnerships with Allianz and Constellation Wealth Capital provided up to $450 million in growth capital and investment opportunities.

Financial highlights

• Q2 2025 revenue was $53.1 million, up $3.7 million year-over-year; 99% from recurring management fees.

• Adjusted EBITDA was $3.8 million, down from $5.5 million YoY; GAAP net loss was $30 million, mainly due to one-time costs and fair value adjustments.

• Operating expenses rose to $83.3 million, up 29% YoY, reflecting one-time professional fees and integration costs.

• Adjusted net loss improved to $0.6 million from $2.6 million YoY.

• Wealth & Capital Solutions segment revenue was $52 million, up 8% YoY; Adjusted EBITDA flat at $14 million.

Outlook and guidance

• Management expects significant recurring annual gross savings of $20 million from cost initiatives starting in H2 2025.

• Anticipates higher EBITDA and lower expenses following the exit of the International Real Estate business.

• Focus remains on topline growth through organic and inorganic strategies, supported by strategic partners.

• Results in the second half of 2025 expected to reflect operational leverage and margin expansion from a leaner cost structure.

• Ongoing efforts to deploy capital in accretive businesses and reduce operating cash outflows.