Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.23.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Total revenues $ 91,448 $ 104,134
Performance allocations:    
Realized 3,162 8,937
Unrealized (107,025) 65,862
Earnings from investments in real estate 0 40
Total investment income (loss) (103,863) 74,839
Expenses:    
Employee compensation and benefits 51,178 47,480
Performance allocations compensation:    
Realized 1,732 560
Unrealized (14,670) 9,238
Loss and loss adjustment expenses 2,320 1,751
Third-party operating expenses 6,110 6,768
General and administrative expenses 13,893 9,508
Depreciation and amortization 1,093 633
Total expenses 61,656 75,938
Other income (expense):    
Realized and unrealized gains, net 1,487 427
Interest income 3,454 1,209
Interest expense (4,145) (1,621)
Total other income 796 15
(Loss) income before provision for income taxes (73,275) 103,050
Income tax benefit (expense) 5,844 (5,545)
Net (loss) income (67,431) 97,505
Net (loss) income attributable to non-controlling interests in Bridge Investment Group Holdings LLC (56,249) 36,713
Net (loss) income attributable to Bridge Investment Group Holdings LLC (11,182) 60,792
Net (loss) income attributable to non-controlling interests in Bridge Investment Group Holdings Inc. (13,216) 51,020
Net income attributable to Bridge Investment Group Holdings Inc. $ 2,034 $ 9,772
Earnings (loss) per share of Class A common stock (Note 21)    
Basic (in dollars per share) $ 0.03 $ 0.35
Diluted (in dollars per share) $ (0.13) $ 0.35
Weighted-average shares of Class A common stock outstanding (Note 21)    
Basic (in shares) 25,068,319 23,138,030
Diluted (in shares) 123,881,500 23,138,030
Fund management fees    
Revenues:    
Total revenues $ 53,849 $ 52,700
Property management and leasing fees    
Revenues:    
Total revenues 19,899 18,279
Construction management fees    
Revenues:    
Total revenues 3,285 1,887
Development fees    
Revenues:    
Total revenues 335 1,259
Transaction fees    
Revenues:    
Total revenues 2,377 21,998
Fund administration fees    
Revenues:    
Total revenues 4,177 3,640
Insurance premiums    
Revenues:    
Total revenues 4,729 2,416
Other asset management and property income    
Revenues:    
Total revenues $ 2,797 $ 1,955