Q1 2024 P10 Inc Earnings Call Transcript
Key Points
- P10 Inc reported strong financial results with record revenues of $66 million in Q1 2024, marking a 15% increase year-over-year.
- Net income significantly improved to $5 million in Q1 2024 from $800,000 in the same period last year.
- The company successfully raised approximately $670 million in gross new fee-paying AUM during the quarter.
- P10 Inc is actively expanding its product offerings and has several funds on track for final closing which are expected to boost future revenues.
- The company has a robust M&A pipeline and anticipates announcing strategic transactions within the year, aiming to enhance its market position and operational scale.
- Despite strong growth, P10 Inc faces ongoing valuation pressures in the public market, as indicated by the CEO's remarks on current trading levels.
- The company expects significant step-downs and expirations of approximately $1.5 billion in 2024, which could impact asset management stability.
- Operating expenses in Q1 2024 increased by 3% year-over-year, which could affect profit margins if not managed alongside revenue growth.
- The company's reliance on the performance of new and ongoing fund strategies introduces risks associated with market volatility and investor demand.
- P10 Inc's strategic focus on M&A and geographic expansion requires careful execution to avoid integration challenges and to ensure accretive value to shareholders.
Hello, and welcome to the P10 first-quarter 2024 conference call. My name is Latif, and I will be coordinating your call today. (Operator Instructions)
As a reminder, today's conference is being recorded. I will now hand the call over to your host, Mark Hood, EVP of Operations and Chief Administrative Officer. Mark, please go ahead.
Good afternoon, and welcome to the P10 first-quarter 2024 conference call. Today, we will be joined by Luke Sarsfield, Chief Executive Officer; and Amanda Coussens, EVP, Chief Financial Officer, and Chief Compliance Officer. Additionally, in the room with us today are Jay Johnson EVP, Head of Strategy and M&A.
Before we begin, I'd like to remind everyone that this conference call, as well as the presentation slides, may constitute forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
