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Acquisitions (Tables) | 6 Months Ended
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Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Business Combination | The following tables and related disclosures summarize the components of the purchase consideration transferred, the preliminary allocation of the assets acquired, and liabilities assumed based on the fair values as of April 1, 2025, and the related estimated useful lives of the amortizable intangible assets acquired. Calculation of the purchase price consideration transferred (in thousands, except share data):
| April 01, 2025
Cash | $ | 318,859 |
Fair value of Restricted Shares of BGC Class A common stock (268,257 shares) | 2,507 |
Other | 3,634 |
Less: compensation arrangements with required future service periods | (15,717) |
Total purchase price consideration transferred | $ | 309,283 |
The amounts of revenue and earnings from OTC Global included in the Company’s unaudited Condensed Consolidated Statement of Operations from April 1, 2025 to the period ending June 30, 2025 are as follows (in thousands):
| Revenues and Earnings included in the Company’s unaudited Condensed Consolidated Statement of Operations from April 1, 2025 to June 30, 2025
Revenues | $ | 118,301 |
Consolidated net income | $ | 11,967 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The preliminary allocation of the assets acquired and the liabilities assumed in the OTC Global acquisition are as follows (in thousands):
| April 01, 2025
Cash and cash equivalents | $ | 39,180 |
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers | 716 |
Accrued commissions and other receivables, net | 91,251 |
Loans, forgivable loans and other receivables from employees and partners, net | 13,995 |
Fixed assets, net | 3,670 |
Finite-lived intangible assets | 219,400 |
Other assets | 33,589 |
Total identifiable assets acquired | 401,801 |
Accrued compensation | 81,207 |
Accounts payable, accrued and other liabilities | 99,986 |
Total liabilities assumed | 181,193 |
Net identifiable assets acquired | 220,608 |
Goodwill | 88,675 |
Net assets acquired | $ | 309,283 |
Schedule of Business Combination, Pro Forma Information | The following unaudited pro forma summary of revenues and consolidated net income presents consolidated information of the Company as if the acquisition of OTC Global had occurred on January 1, 2024 (amounts in thousands). The unaudited pro forma results are not indicative of operations that would have been achieved, nor are they indicative of future results of operations. The unaudited pro forma results do not reflect any potential cost savings or other operational efficiencies that could result from the acquisition. However, the amounts have been calculated after applying the Company’s accounting policies and adjusting the results of OTC Global, which mainly consisted of removing approximately $1.0 million and $2.0 million of OTC Global’s Goodwill amortization, for the three and six months ended June 30, 2024, respectively, and $1.0 million for the six months ended June 30, 2025, which had been applied under the Private Company Council Accounting Alternative for Goodwill and pursuant to ASC 350, Intangibles — Goodwill and Other.
Pro Forma Consolidated Income Statement (in thousands):
(unaudited)
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Pro forma revenues | $ | 784,004 |  |  | $ | 661,228 |  |  | $ | 1,564,233 |  |  | $ | 1,351,507 |
Pro forma consolidated net income | $ | 56,215 |  |  | $ | 42,394 |  |  | $ | 119,168 |  |  | $ | 104,107 |

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