The following is a summary of the P10, Inc. (PX) Q1 2024 Earnings Call Transcript:
Financial Performance:
P10 reported Q1 revenue of $66 million, a 15% increase year-over-year. Net profit stands at $5 million, showcasing a significant increase from $800,000 the previous year.
Fee-Related Revenue (FRR) was up by 16% and reached $65 million. Fee-Related Earnings (FRE) grew by 9% and amounted to around $31 million.
A buyback of approximately $3.7 million shares at an average price of $8.15 per share was executed, and a quarterly cash dividend of $0.035 per share was declared, reflecting an 8% increase.
Business Progress:
P10 successfully raised around $670 million in gross new fee-paying AUM during Q1.
Strategic alliances and the introduction of new co-mingled funds have demonstrated promising market progress.
As part of future strategies, P10 plans to raise and deploy above $2.5 billion of fresh assets. Cycle initiatives for organic growth and a solid M&A pipeline are in progress.
Expanding on its bench strength, P10 added Tracey Benford as an Independent Director and Melodie Craft as General Counsel to the board.
More details: P10 Inc IR
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