P10 Announces Impressive Earnings for 2024 and 2025 Outlook
P10 Delivers Exceptional Financial Growth in 2024
DALLAS, Feb. 12, 2025 - P10, Inc. (NYSE: PX), a leader in private market solutions, recently released its earnings results for the fourth quarter and the entire fiscal year ending December 31, 2024. The company's performance showcases significant growth across multiple financial metrics, solidifying its position in the private markets sector.
Key Highlights from Q4 2024
In the fourth quarter, P10 reported a revenue of $85 million, reflecting a remarkable 35% increase compared to the same period last year. This consistent upward trend underscores the effectiveness of their investment strategies and operational efficiencies.
Fee-Related Highlights
Fee-related revenue also reached $85 million, a 37% increase from the previous year. The asset management segment thrived as well, with fee-paying assets under management rising to $25.7 billion, a notable 10% year-over-year growth. P10's adjusted EBITDA stood at $42.9 million, indicating a robust 40% increase, while the adjusted net income reached $35.3 million, also up by 39% compared to Q4 2023.
Overall Fiscal Year Insights
For the fiscal year, P10 achieved total revenue of $296.4 million, marking a strong 23% increase. The company’s GAAP net income improved significantly to $19.7 million, recovering from a loss of $7.8 million the previous year. These financial results reflect the successful execution of P10's strategic initiatives, including optimizing leadership and enhancing organic growth.
Stock Performance and Repurchase Program
P10’s stock repurchase program evidenced its confidence in long-term growth. In Q4, around 815,327 shares were bought back at an average price of $12.72. Altogether, P10 repurchased approximately 6.6 million shares during 2024 for a total value of $59.1 million. The board also approved an additional $40 million for stock buybacks, boosting the program's total budget to approximately $43.5 million.
Dividend Declaration and Future Prospects
The company announced a quarterly cash dividend of $0.035 per share on its Class A and Class B common stock, scheduled for distribution on a future date to be determined. This move emphasizes P10's commitment to returning value to shareholders.
Anticipated Conference Call
To discuss these results and the road ahead, P10 hosted a conference call at 8:30 a.m. Eastern Time on February 12, 2025. The interaction aimed to provide investors with more detailed insights into the company’s strategic plans and objectives for 2025.
About P10, Inc.
P10 is at the forefront of the alternative asset management industry, offering multi-asset class solutions. The company has built a diverse portfolio tailored to meet the varied investment needs of over 3,800 investors across 60 countries. Their mission focuses on providing exceptional access to distinct investment solutions, further enhancing their growing investor base.
Frequently Asked Questions
What were P10's total revenues for fiscal year 2024?
P10 achieved total revenues of $296.4 million for fiscal year 2024, indicating a 23% increase compared to the previous year.
How much did P10's adjusted net income grow in Q4 2024?
P10 reported an adjusted net income of $35.3 million in Q4 2024, which is a 39% increase year-over-year.
What is P10's current stock buyback program?
P10 has authorized a total of $43.5 million for its stock repurchase program, demonstrating strong confidence in its financial outlook.
Is P10 planning to declare dividends?
Yes, P10 has declared a quarterly cash dividend of $0.035 per share, payable to eligible shareholders.
When will P10’s conference call take place?
The company hosted a conference call on February 12, 2025, to discuss its latest financial results and future plans with investors.
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