Double-Digit Revenue and Fee Paying AUM Growth
New CEO Luke Sarsfield Joins P10 to Drive Shareholder Value
DALLAS, Nov. 09, 2023 (GLOBE NEWSWIRE) -- P10, Inc. (NYSE:PX), a leading private markets solutions provider, today reported financial results for the third quarter ended September 30, 2023.
Third Quarter 2023 Financial Highlights:
- Fee Paying Assets Under Management: $22.7 billion, a 20% increase year over year.
- Revenue: $58.9 million, an 18% increase year over year.
- GAAP Net Income/(Loss): $(8.8) million compared to $5.6 million in the prior year period.
- Adjusted EBITDA: $29.6 million, a 7% increase year over year.
- Adjusted Net Income: $24.3 million, a 3% decrease year over year.
- Fully diluted GAAP EPS: $(.07) compared to $.05 in the prior year period.
- Fully diluted ANI per share: $.20, a 5% decrease year over year.
A presentation of the quarterly financials may be accessed here and is available on the Company's website.
Declaration of Dividend:
The Board of Directors of the Company has declared a quarterly cash dividend of $.0325 per share on Class A and Class B common stock, payable on December 20, 2023, to the holders of record as of the close of business on November 30, 2023.
Robert Alpert, Executive Chairman, and Clark Webb, Executive Vice Chairman said, "P10's performance remains strong, generating continued growth against a dynamic economic backdrop. We are proud of our differentiated platform led by a phenomenal team that drives consistent, long-term investment performance. As announced on October 23, 2023, Luke Sarsfield has stepped into the role of chief executive officer and is now a member of the board of directors. He joins P10 at the perfect time as we execute on our next phase of organic and inorganic growth."
Luke Sarsfield, P10 Chief Executive Officer said, "Our third quarter performance demonstrates the strong fundamentals that will drive future P10 success. Our platform of leading investment franchises is truly extraordinary and provides a foundation for continued organic and inorganic growth. Furthermore, our disciplined focus on the middle and lower middle market establishes us as an attractive partner to a wide variety of investment and financial ...