XML 27 R5.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Revenues:      
Total revenues $ 427,737 $ 349,035 $ 301,345
Operating Expenses:      
Compensation and benefits 121,281 109,532 97,897
Fund management and administration 83,963 71,348 64,761
Marketing and advertising 20,532 17,256 15,302
Sales and business development 14,817 13,584 11,871
Contractual gold payments (Note 9) 6,069 17,108
Professional fees 21,098 18,969 13,800
Occupancy, communications and equipment 5,344 4,684 3,898
Depreciation and amortization 1,752 872 262
Third-party distribution fees 11,138 9,377 7,656
Other 10,519 9,852 8,705
Total operating expenses 290,444 261,543 241,260
Operating income 137,293 87,492 60,085
Other Income/(Expenses):      
Interest expense (18,911) (15,242) (14,935)
Gain on revaluation/termination of deferred consideration—gold payments (Note 9) [1] 61,953 27,765
Interest income 6,778 4,099 3,320
Impairments (Note 26) (7,942)
Loss on extinguishment of debt (Note 10) (30,632) (9,721)
Other gains/(losses), net 874 (1,631) (36,285)
Income before income taxes 95,402 119,008 39,950
Income tax expense/(benefit) 28,709 16,462 (10,734)
Net income $ 66,693 $ 102,546 $ 50,684
Earnings per share—basic (in Dollars per share) $ 0.34 $ 0.66 $ 0.31
Earnings per share—diluted (in Dollars per share) $ 0.33 $ 0.64 $ 0.31
Weighted-average common shares—basic (in Shares) 144,630 144,707 143,020
Weighted-average common shares—diluted (in Shares) 158,844 170,413 158,914
Cash dividends declared per common share (in Dollars per share) $ 0.12 $ 0.12 $ 0.12
Advisory fees      
Operating Revenues:      
Operating Revenues $ 395,362 $ 333,227 $ 293,632
Total revenues 395,362 333,227 293,632
Other income      
Operating Revenues:      
Operating Revenues $ 32,375 $ 15,808 $ 7,713
[1] Gains on revaluation/termination of deferred consideration—gold payments resulted from a decrease in spot gold prices, a decrease in the forward-looking price of gold, a decrease in the perpetual growth rate and an increase in the discount rate used to compute the present value of the annual payment obligations.