Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.23.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Total revenues $ 106,271 $ 110,424 $ 296,521 $ 313,575
Investment (loss) income:        
Incentive fees 0 0 41 0
Performance allocations:        
Realized 20,225 22,308 31,812 64,826
Unrealized (50,940) (16,367) (177,249) 119,611
Earnings from investments in real estate 537 818 752 2,109
Total investment (loss) income (30,178) 6,759 (144,644) 186,546
Expenses:        
Employee compensation and benefits 58,557 54,968 166,111 149,140
Incentive fee compensation 1 0 4 0
Performance allocations compensation:        
Realized 2,712 1,321 4,939 4,047
Unrealized 1,788 3,789 (17,531) 21,014
Loss and loss adjustment expenses 2,953 2,204 6,957 5,395
Third-party operating expenses 5,520 6,125 16,849 19,642
General and administrative expenses 12,142 10,685 38,903 29,961
Depreciation and amortization 5,275 703 11,487 2,223
Total expenses 88,948 79,795 227,719 231,422
Other income (expense):        
Realized and unrealized (losses) gains, net (519) 399 (399) 4,315
Interest income 4,428 1,904 11,609 4,466
Interest expense (7,841) (4,247) (20,722) (8,769)
Total other (loss) income (3,932) (1,944) (9,512) 12
(Loss) income before provision for income taxes (16,787) 35,444 (85,354) 268,711
Income tax expense (1,107) (3,203) (2,731) (14,585)
Net (loss) income (17,894) 32,241 (88,085) 254,126
Net (loss) income attributable to non-controlling interests in Bridge Investment Group Holdings LLC (19,958) 1,381 (80,393) 87,842
Net income (loss) attributable to Bridge Investment Group Holdings LLC 2,064 30,860 (7,692) 166,284
Net income (loss) attributable to non-controlling interests in Bridge Investment Group Holdings Inc. 1,770 25,861 (5,248) 138,574
Net income (loss) attributable to Bridge Investment Group Holdings Inc. $ 294 $ 4,999 $ (2,444) $ 27,710
(Loss) earnings per share of Class A common stock - basic (in dollars per share) $ (0.04) $ 0.17 $ (0.25) $ 0.96
(Loss) earnings per share of Class A common stock - diluted (in dollars per share) $ (0.04) $ 0.17 $ (0.25) $ 0.96
Weighted-average shares of Class A common stock outstanding - Basic (in shares) 25,956,587 24,157,236 25,392,481 23,778,524
Weighted-average shares of Class A common stock outstanding - Diluted (in shares) (in shares) 25,956,587 24,157,236 25,392,481 23,778,524
Fund management fees        
Revenues:        
Total revenues $ 61,450 $ 64,096 $ 175,616 $ 166,176
Property management and leasing fees        
Revenues:        
Total revenues 19,507 18,788 58,536 56,683
Construction management fees        
Revenues:        
Total revenues 3,086 3,414 9,273 7,727
Development fees        
Revenues:        
Total revenues 247 986 1,919 3,037
Transaction fees        
Revenues:        
Total revenues 9,679 11,532 16,738 51,172
Fund administration fees        
Revenues:        
Total revenues 4,359 3,808 12,839 11,105
Insurance premiums        
Revenues:        
Total revenues 4,654 3,387 12,868 8,648
Other asset management and property income        
Revenues:        
Total revenues $ 3,289 $ 4,413 $ 8,732 $ 9,027