Condensed Consolidated Statement of Financial Position (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Assets
Cash and cash equivalents	$ 35,847	$ 64,417
Investments at fair value	152,254	148,674
Equity method investments	135	20,403
Intangible assets, net of accumulated amortization	440,085	469,563
Goodwill	385,721	377,842
Operating lease right-of-use assets	48,507	49,083
Deferred tax asset, net	0	19,769
Other assets, net	54,138	50,388
Assets of discontinued operations	0	25,474
Total assets	1,154,424	1,255,833
Liabilities
Accounts payable and accrued expenses	45,500	25,388
Accrued compensation and profit sharing	43,851	59,921
Accrued member distributions payable	3,260	3,355
Earn-out liabilities, at fair value	50,745	64,639
TRA liability (includes $10,767 and $9,378 at fair value, respectively)	32,484	28,765
Preferred stock tranche liability, at fair value	1,650	3,940
Earn-in consideration payable	0	932
Operating lease liabilities	63,722	60,985
Debt, net of unamortized deferred financing cost	586	0
Deferred tax liability, net	16,321	10,977
Other liabilities, net	12,471	11,839
Liabilities of discontinued operations	0	14,897
Total liabilities	270,590	285,638
Commitments and contingencies (Note 20)
Shareholders’ Equity
Treasury stock, at cost: 0 and 0 shares as of September 30, 2025 and December 31, 2024, respectively	0	0
Additional paid-in capital	667,708	652,857
Retained earnings (accumulated deficit)	(404,903)	(296,561)
Accumulated other comprehensive income (loss)	4,654	(1,569)
Total AlTi Global, Inc. shareholders’ equity	607,186	658,402
Non-controlling interest in subsidiaries	276,648	311,793
Total shareholders’ equity	883,834	970,195
Total liabilities, mezzanine equity, and shareholders’ equity	1,154,424	1,255,833
Series A Preferred Stock
Mezzanine Equity
Preferred stock	166,924	142,858
Series C Preferred Stock
Mezzanine Equity
Preferred stock	172,793	160,808
Class A Common Stock
Shareholders’ Equity
Common stock	10	9
Class B Common Stock
Shareholders’ Equity
Common stock	0	0
Class C Common Stock
Shareholders’ Equity
Common stock	0	0
Fees receivable
Assets
Fees receivable, net (includes $1,809 and $888 of related party receivables, respectively)	$ 37,737	$ 30,220

AlTi Global, Inc. 10-Q