Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 104,760 $ 98,803 $ 207,549 $ 190,250
Investment income (loss):        
Incentive fees 0 41 0 41
Performance allocations:        
Realized 7,063 8,425 20,032 11,587
Unrealized 18,533 (19,284) (43,138) (126,309)
Earnings from investments in real estate 0 215 0 215
Total investment income (loss) 25,596 (10,603) (23,106) (114,466)
Expenses:        
Employee compensation and benefits 62,681 56,376 125,521 107,553
Incentive fee compensation 0 3 0 3
Performance allocations compensation:        
Realized 3,748 495 11,156 2,227
Unrealized (1,150) (4,649) 2,027 (19,319)
Loss and loss adjustment expenses 4,436 1,684 7,118 4,004
Third-party operating expenses 3,476 5,219 7,512 11,329
General and administrative expenses 9,397 12,872 20,747 26,765
Depreciation and amortization 4,510 5,118 9,946 6,211
Total expenses 87,098 77,118 184,027 138,773
Other (expense) income:        
Realized and unrealized (losses) gains, net (3,273) (1,367) (7,503) 120
Interest income 4,351 3,728 10,141 7,182
Interest expense (6,846) (8,735) (14,210) (12,881)
Total other expense (5,768) (6,374) (11,572) (5,579)
Income (loss) before provision for income taxes 37,490 4,708 (11,156) (68,568)
Income tax (expense) benefit (9,996) (7,468) 1,851 (1,624)
Net income (loss) 27,494 (2,760) (9,305) (70,192)
Net income (loss) attributable to non-controlling interests in Bridge Investment Group Holdings LLC 13,825 (4,186) (28,095) (60,435)
Net income (loss) attributable to Bridge Investment Group Holdings LLC 13,669 1,426 18,790 (9,757)
Net income (loss) attributable to non-controlling interests in Bridge Investment Group Holdings Inc. 16,100 6,198 11,403 (7,019)
Net (loss) income attributable to Bridge Investment Group Holdings Inc. $ (2,431) $ (4,772) $ 7,387 $ (2,738)
Loss (earnings) per share of Class A common stock        
Basic (in dollars per share) $ (0.11) $ (0.24) $ 0.18 $ (0.21)
Diluted (in dollars per share) $ (0.11) $ (0.24) $ 0.07 $ (0.21)
Weighted-average shares of Class A common stock outstanding        
Basic (in shares) 32,461,347 25,143,289 31,902,163 25,105,753
Diluted (in shares) 32,461,347 25,143,289 128,679,597 25,105,753
Fund management fees        
Revenues:        
Total revenues $ 61,453 $ 60,317 $ 122,558 $ 114,166
Property management and leasing fees        
Revenues:        
Total revenues 17,763 19,130 37,700 39,029
Construction management fees        
Revenues:        
Total revenues 1,814 2,902 3,511 6,187
Development fees        
Revenues:        
Total revenues 828 1,337 1,659 1,672
Transaction fees        
Revenues:        
Total revenues 6,404 4,682 13,204 7,059
Fund administration fees        
Revenues:        
Total revenues 4,579 4,304 9,636 8,480
Insurance premiums        
Revenues:        
Total revenues 6,405 3,485 11,102 8,214
Other asset management and property income        
Revenues:        
Total revenues $ 5,514 $ 2,646 $ 8,179 $ 5,443