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Bridge Investment Group (BRDG) investor relations material
Bridge Investment Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Total revenue for Q2 2025 was $96.5M, down 8% year-over-year; LTM revenue was $397.7M, down 3% year-over-year.
Net income for Q2 2025 was $2.8M, a 90% decrease year-over-year; LTM net loss was $8.8M, improved from a $26.5M loss in the prior year.
Distributable earnings for Q2 2025 were $25.7M, or $0.14 per share after-tax, down 28% year-over-year.
Gross AUM reached $50.2B as of June 30, 2025, up 3% year-over-year, with diversified strategies.
Entered a $1.5B merger agreement with Apollo Global Management, expected to close in Q3 2025; stockholders approved the merger in June.
Financial highlights
Q2 2025 loss per share was $(0.01), attributed to $4.7M in Apollo merger transaction costs and $3.5M in credit losses.
Fee Related Earnings to the Operating Company were $28.0M, down 22% year-over-year.
Capital raised in Q2 2025 was $0.5B, up 59% year-over-year; capital deployed was $0.5B, up 40% year-over-year.
Dry powder stood at $3.2B at quarter end.
Realized performance allocations were $4.9M, down 31% year-over-year.
Outlook and guidance
The merger with Apollo is expected to close in early September 2025, subject to customary closing conditions.
No further dividends are anticipated post-merger.
Management expects a $2.0M quarterly reduction in fund management fees due to a fee basis conversion in Bridge Multifamily Fund V.
The company is evaluating the impact of the One Big Beautiful Bill Act (OBBBA) on its financials.
- Q3 2024 net income rose to $10.6M as AUM held at $49.2B and capital raising surged.BRDG
Q3 2024 - Q2 2024 net income hit $27.5M on 6% revenue growth, with fee-earning AUM at $21.5B.BRDG
Q2 2024 - Strategic growth in real estate and secondaries, with rising fundraising and stable margins ahead.BRDG
Morgan Stanley US Financials, Payments & CRE Conference 2024 - Q1 2025 net loss of $37.6M, no dividend, and Apollo merger set for Q3 close.BRDG
Q1 2025 - Q4 2024 net income surged, AUM hit $49.8B, and a $0.11 dividend was declared.BRDG
Q4 2024
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