Q2 2025 AlTi Global, Inc Earnings Call Transcript
Key Points
- AlTi Global Inc (ALTI) reported a 7% year-over-year increase in consolidated revenues, reaching $53 million in the second quarter of 2025.
- The Wealth Management and Capital Solutions segment saw an 8% revenue increase, driven by a 14% rise in assets under management (AUM).
- The company achieved a 96% client retention rate, supported by senior advisers with over 20 years of industry experience.
- AlTi Global Inc (ALTI) completed the acquisition of Kontora, expanding its European presence and adding approximately $16 billion in billable assets.
- The company is implementing zero-based budgeting, expected to deliver approximately $20 million in recurring annual gross savings starting in the second half of 2025.
- The second quarter results included onetime professional fees tied to the zero-based budgeting program, impacting profitability.
- AlTi Global Inc (ALTI) reported a net loss of $30 million for the quarter, driven by timing mismatches and fair value adjustments.
- The exit of the international real estate business resulted in temporary noise in the reported numbers, affecting the full potential of the business model.
- Operating expenses increased to $83 million in the quarter, up from $64 million in the same period last year.
- The recurring cost base remains higher than desired for the current scale of the business, necessitating further cost discipline measures.
Good afternoon. My name is Julian, and I will be your conference operator for today. At this time, I would like to welcome everyone to AlTi's second-quarter 2025 earnings conference call. (Operator Instructions) I would like to advise all parties that this conference call is being recorded, and a replay of the webcast is available on AlTi's Investor Relations website.
Now at this time, I will turn things over to Lily Arteaga, Head of Investor Relations for AlTi. Please ahead.
Good afternoon to everyone on the call today. Joining me today are Michael Tiedeman, our CEO; and Mike Harrington, our CFO. We invite you to visit the Investor Relations section of our website at www.alti-global.com to view our earnings materials, including our investor presentation.
I would like to remind everyone that certain statements made during the call may be deemed forward-looking statements within the meaning of the Private Securities
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