Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.23.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues $ 98,803 $ 99,019 $ 190,250 $ 203,152
Investment income:        
Incentive fees 41 0 41 0
Performance allocations:        
Realized 8,425 33,581 11,587 42,518
Unrealized (19,284) 70,116 (126,309) 135,978
Earnings from investments in real estate 215 1,251 215 1,291
Total investment (loss) income (10,603) 104,948 (114,466) 179,787
Expenses:        
Employee compensation and benefits 56,376 46,693 107,553 94,172
Incentive fee compensation 3 0 3 0
Performance allocations compensation:        
Realized 495 2,165 2,227 2,725
Unrealized (4,649) 7,987 (19,319) 17,225
Loss and loss adjustment expenses 1,684 1,439 4,004 3,191
Third-party operating expenses 5,219 6,749 11,329 13,517
General and administrative expenses 12,872 9,769 26,765 19,277
Depreciation and amortization 5,118 887 6,211 1,520
Total expenses 77,118 75,689 138,773 151,627
Other income (expense):        
Realized and unrealized (losses) gains, net (1,367) 3,489 120 3,916
Interest income 3,728 1,353 7,182 2,562
Interest expense (8,735) (2,901) (12,881) (4,522)
Total other (loss) income (6,374) 1,941 (5,579) 1,956
Income (loss) before provision for income taxes 4,708 130,219 (68,568) 233,268
Income tax expense (7,468) (5,837) (1,624) (11,382)
Net (loss) income (2,760) 124,382 (70,192) 221,886
Net (loss) income attributable to non-controlling interests in Bridge Investment Group Holdings LLC (4,186) 49,748 (60,435) 86,461
Net income (loss) attributable to Bridge Investment Group Holdings LLC 1,426 74,634 (9,757) 135,425
Net income (loss) attributable to non-controlling interests in Bridge Investment Group Holdings Inc. 6,198 61,694 (7,019) 112,714
Net (loss) income attributable to Bridge Investment Group Holdings Inc. $ (4,772) $ 12,940 $ (2,738) $ 22,711
Earnings (loss) per share of Class A common stock - Basic (in dollars per share) $ (0.24) $ 0.44 $ (0.21) $ 0.79
Earnings (loss) per share of Class A common stock - Diluted (in dollars per share) $ (0.24) $ 0.44 $ (0.21) $ 0.79
Weighted-average shares of Class A common stock outstanding - Basic (in shares) 25,143,289 24,029,107 25,105,753 23,581,393
Weighted-average shares of Class A common stock outstanding - Diluted (in shares) (in shares) 25,143,289 24,029,107 25,105,753 23,581,393
Fund management fees        
Revenues:        
Total revenues $ 60,317 $ 49,380 $ 114,166 $ 102,080
Property management and leasing fees        
Revenues:        
Total revenues 19,130 19,616 39,029 37,895
Construction management fees        
Revenues:        
Total revenues 2,902 2,426 6,187 4,312
Development fees        
Revenues:        
Total revenues 1,337 793 1,672 2,052
Transaction fees        
Revenues:        
Total revenues 4,682 17,643 7,059 39,641
Fund administration fees        
Revenues:        
Total revenues 4,304 3,657 8,480 7,297
Insurance premiums        
Revenues:        
Total revenues 3,485 2,845 8,214 5,261
Other asset management and property income        
Revenues:        
Total revenues $ 2,646 $ 2,659 $ 5,443 $ 4,614