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Jun 30
BrightSphere Q2 2025 Earnings Report
BrightSphere reported strong Q2 2025 results, with record AUM, robust net flows, and higher adjusted EBITDA and ENI earnings.
Key Takeaways
BrightSphere’s Q2 2025 results were highlighted by a 33% YoY increase in Economic Net Income, record net flows of $13.8 billion, and Adjusted EBITDA rising to $39.1 million. Operating margin also improved significantly on both a GAAP and ENI basis.
Economic Net Income increased to $22.9 million, up 33% YoY
Adjusted EBITDA rose to $39.1 million, a 22% increase YoY
Record net flows of $13.8 billion, the highest in company history
AUM surged to $151.1 billion, up from $112.6 billion a year ago
BrightSphere
BrightSphere
Forward Guidance
Management expects continued growth driven by new mandates and sustained performance across strategies. Full-year variable compensation and expense ratios are expected to remain stable, assuming equity markets hold.
Positive Outlook
- Strong momentum with record quarterly net flows
- Robust AUM growth expected to support revenue expansion
- Operating expense and variable comp ratios trending favorably
- Continued capital return through share buybacks
- Strong long-term performance across all strategy durations
Challenges Ahead
- Operating income declined due to higher equity-based comp
- Lower GAAP operating margin due to expense increases
- Net income declined slightly YoY
- Sensitivity to market fluctuations impacting AUM
- Distribution ratio guidance may fluctuate with market volatility