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Revenue from Contracts with Customers
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The following table presents Federated Hermes’ revenue disaggregated by asset class:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2025202420252024
Money market$245,282 $208,443 $694,628 $618,472 
Equity135,043 117,844 371,945 350,101 
Fixed-income49,586 49,512 147,306 146,803 
Other39,535 32,657 103,951 92,034 
Total Revenue$469,446 $408,456 $1,317,830 $1,207,410 
The following table presents Federated Hermes’ revenue disaggregated by performance obligation:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2025202420252024
Investment Advisory$310,366 $274,621 $885,261 $809,537 
Administrative Services107,234 97,687 310,000 287,819 
Distribution39,225 29,193 96,312 90,619 
Other12,621 6,955 26,257 19,435 
Total Revenue$469,446 $408,456 $1,317,830 $1,207,410 
The following table presents Federated Hermes’ revenue disaggregated by offering type:
Three Months EndedNine Months Ended
September 30,September 30,
(in thousands)2025202420252024
Federated Hermes Funds$393,278 $344,795 $1,106,073 $1,014,383 
Separate Accounts65,654 58,869 191,829 179,883 
Other10,514 4,792 19,928 13,144 
Total Revenue$469,446 $408,456 $1,317,830 $1,207,410 
For nearly all revenue, Federated Hermes is not required to disclose certain estimates of revenue expected to be recorded in future periods as a result of applying the following exemptions: (1) contract terms are short-term in nature (i.e., expected duration of one year or less due to termination provisions) and (2) the expected variable consideration would be allocated entirely to future service periods.
Federated Hermes expects to recognize revenue in the future related to the unsatisfied portion of certain services, primarily stewardship services and real estate development performance obligations at September 30, 2025. Generally, contracts are billed in arrears on a quarterly basis and have a three-year duration, after which the customer can terminate the agreement with notice, generally from three to 12 months. Based on existing contracts and the applicable foreign exchange rates as of September 30, 2025, Federated Hermes may recognize future fixed revenue from these services as presented in the following table:
(in thousands)
Remainder of 2025$4,450 
20267,830 
20271,787 
2028 and Thereafter981 
Total Remaining Unsatisfied Performance Obligations$15,048