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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Operating Revenues:        
Total revenues $ 125,616 $ 113,168 $ 346,319 $ 317,040
Operating Expenses:        
Compensation and benefits 33,791 29,405 100,406 91,249
Fund management and administration 22,353 21,004 64,319 61,105
Marketing and advertising 4,788 4,897 14,931 14,415
Sales and business development 3,943 3,465 12,312 10,716
Professional fees 3,505 6,315 9,464 16,539
Occupancy, communications and equipment 1,601 1,397 4,642 3,921
Depreciation and amortization 615 447 1,735 1,248
Third-party distribution fees 3,977 2,983 11,172 7,977
Acquisition-related costs 2,409 4,376
Other 2,980 2,463 8,514 7,617
Total operating expenses 79,962 72,376 231,871 214,787
Operating income 45,654 40,792 114,448 102,253
Other Income/(Expenses):        
Interest expense (8,466) (5,027) (19,397) (13,295)
Interest income 4,015 1,795 8,002 4,631
Loss on extinguishment of convertible notes (13,011) (30,632) (13,011) (30,632)
Other gains and losses, net 1,325 (3,062) 1,713 (1,753)
Income before income taxes 29,517 3,866 91,755 61,204
Income tax expense 9,816 8,351 22,648 21,819
Net income/(loss) $ 19,701 $ (4,485) $ 69,107 $ 39,385
Earnings/(loss) per share—basic (in Dollars per share) $ 0.14 $ (0.13) $ 0.48 $ 0.16
Earnings/(loss) per share—diluted (in Dollars per share) $ 0.13 $ (0.13) $ 0.47 $ 0.16
Weighted-average common shares—basic (in Shares) 139,584 143,929 141,736 145,756
Weighted-average common shares—diluted (in Shares) 150,675 143,929 146,360 162,691
Cash dividends declared per common share (in Dollars per share) $ 0.03 $ 0.03 $ 0.09 $ 0.09
Advisory fees        
Operating Revenues:        
Total revenues $ 114,485 $ 101,659 $ 317,275 $ 293,098
Other revenues        
Operating Revenues:        
Total revenues $ 11,131 $ 11,509 $ 29,044 $ 23,942