Second quarter 2025 consolidated revenue of $53 million, up 7% year-over-year; 99% of revenue from recurring management fees (CEO)(CFO).
Core Wealth Management & Capital Solutions segment revenue of $52 million, up 8% year-over-year, driven by a 14% increase in segment AUM from market performance, acquisitions, and improved ROA (CEO)(CFO).
Segment adjusted EBITDA of $14 million; on a like-for-like basis excluding a prior-quarter incentive fee, segment EBITDA margin increased from 20% to 26% (CFO).
Consolidated adjusted EBITDA of $4 million, including a -$1 million loss from the International Real Estate segment (CFO).
GAAP net loss of $30 million for the quarter, reflecting a $7 million onetime professional fee tied to the zero-based budgeting program and a loss on the earn-out liability from the stock price increase (CFO).
Zero-based budgeting expected to deliver ~$20 million in recurring annual gross savings across non-compensation expense categories, starting in H2 2025 (CEO)(CFO).
Completed exit of international real estate business in July 2025 (post-quarter-end), sharpening focus on core wealth management; exit-related costs to be reported in future periods (CEO)(CFO).
Completed acquisition of Kontora, adding approximately $16 billion in billable assets and expanding European platform into the German market (CEO).
Organic growth: International wealth business signed new clients with > $500 million in projected billable assets in H1; U.S. new and expanded mandates totaled nearly $430 million in projected billable assets through June; pipeline described as “among the largest in our history” (CEO).
Client retention rate of 96%; senior advisers average >20 years of industry experience (CEO).
Cash and debt: Ended the quarter with $42 million in cash and effectively debt-free (CFO).
No official numerical guidance for the next quarter or full year was provided (prepared).
Official guidance: None stated.
Mgmt quotes:
“The second quarter of 2025 was an important quarter for AlTi because of the strategic actions we executed to strengthen and simplify our business.” — CEO
“The reported figures understate the momentum we’re building and the earnings power embedded in our platform.” — CEO
“Cost discipline is just one lever of value creation. Another is capital flexibility.” — CFO
“We entered the second half of 2025 with a stronger platform, a normalized expense base following organizational streamlining initiatives and the exit of our international real estate business.” — CFO
Prepared Metrics
Metric
Value
Speaker/Context
Consolidated revenue
$53 million (+7% YoY)
CEO, CFO (prepared)
Core segment revenue (Wealth Mgmt & Capital Solutions)