Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.24.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 101,506 $ 106,271 $ 309,056 $ 296,521
Investment income (loss):        
Incentive fees 0 0 0 41
Performance allocations:        
Realized 10,434 20,225 30,466 31,812
Unrealized 612 (50,940) (42,526) (177,249)
Earnings from investments in real estate 0 537 0 752
Total investment income (loss) 11,046 (30,178) (12,060) (144,644)
Expenses:        
Employee compensation and benefits 64,135 58,557 189,656 166,111
Incentive fee compensation 0 1 0 4
Performance allocations compensation:        
Realized 6,165 2,712 17,320 4,939
Unrealized 759 1,788 2,787 (17,531)
Loss and loss adjustment expenses 7,206 2,953 14,324 6,957
Third-party operating expenses 3,363 5,520 10,875 16,849
General and administrative expenses 12,342 12,142 33,089 38,903
Depreciation and amortization 4,997 5,275 14,943 11,487
Total expenses 98,967 88,948 282,994 227,719
Other (expense) income:        
Realized and unrealized (losses) gains, net (3,254) (519) (10,757) (399)
Interest income 4,271 4,428 14,412 11,609
Interest expense (6,452) (7,841) (20,662) (20,722)
Total other expense (5,435) (3,932) (17,007) (9,512)
Income (loss) before provision for income taxes 8,150 (16,787) (3,005) (85,354)
Income tax benefit (expense) 2,433 (1,107) 4,283 (2,731)
Net income (loss) 10,583 (17,894) 1,278 (88,085)
Net loss attributable to non-controlling interests in Bridge Investment Group Holdings LLC (251) (19,958) (28,346) (80,393)
Net income (loss) attributable to Bridge Investment Group Holdings LLC 10,834 2,064 29,624 (7,692)
Net income (loss) attributable to non-controlling interests in Bridge Investment Group Holdings Inc. 6,168 1,770 17,571 (5,248)
Net income (loss) attributable to Bridge Investment Group Holdings Inc. $ 4,666 $ 294 $ 12,053 $ (2,444)
Loss (earnings) per share of Class A common stock        
Basic (in dollars per share) $ 0.11 $ (0.04) $ 0.28 $ (0.25)
Diluted (in dollars per share) $ 0.04 $ (0.04) $ 0.11 $ (0.25)
Weighted-average shares of Class A common stock outstanding        
Basic (in shares) 32,991,925 25,956,587 32,268,068 25,392,481
Diluted (in shares) 129,202,793 25,956,587 128,855,268 25,392,481
Fund management fees        
Revenues:        
Total revenues $ 61,069 $ 61,450 $ 183,627 $ 175,616
Property management and leasing fees        
Revenues:        
Total revenues 17,690 19,507 55,390 58,536
Construction management fees        
Revenues:        
Total revenues 1,845 3,086 5,357 9,273
Development fees        
Revenues:        
Total revenues 896 247 2,555 1,919
Transaction fees        
Revenues:        
Total revenues 6,279 9,679 19,483 16,738
Fund administration fees        
Revenues:        
Total revenues 4,224 4,359 13,860 12,839
Insurance premiums        
Revenues:        
Total revenues 5,595 4,654 16,697 12,868
Other asset management and property income        
Revenues:        
Total revenues $ 3,908 $ 3,289 $ 12,087 $ 8,732