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Dec 31, 2024
Bridge Q4 2024 Earnings Report
Bridge Investment Group Holdings Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024.
Key Takeaways
Bridge Investment Group Holdings Inc. reported a net income of $15.4 million for the fourth quarter of 2024, with total revenues of $103.4 million. The company experienced a loss per share of $(0.15) for Class A common stock in Q4 2024.
Net Income (Loss) was $15.4 million for the quarter ended December 31, 2024.
Total revenues for the quarter ended December 31, 2024, were $103.4 million.
Loss per share of Class A common stock was $(0.15) for the quarter ended December 31, 2024.
Distributable Earnings of Bridge Investment Group Holdings LLC were $32.6 million for the quarter ended December 31, 2024.
Bridge
Bridge
Bridge Revenue by Segment
Revenue by Segment
Fund Management Fees Revenue
CapyFin.comProperty Management & Leasing Fees Revenue
CapyFin.comConstruction Management Fees Revenue
CapyFin.comDevelopment Fees Revenue
CapyFin.comTransaction Fees Revenue
CapyFin.comFund Administration Fees Revenue
CapyFin.comInsurance Premiums Revenue
CapyFin.comOther Asset Management & Property Income Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward-looking financial guidance in this report. However, it highlighted strategic areas for future growth and operational focus.
Positive Outlook
- Commitments on capital raised in the 4th quarter averaged 9.3 years in duration, indicating long-term investor confidence.
- 73% of total FEAUM is greater than 5 years of remaining duration, with a weighted-average FEAUM remaining duration of 6.3 years, providing stable fee visibility.
- Over 97% of FEAUM is in long-term, closed-end funds with no redemption features, ensuring predictable revenue streams.
- Fee-earning AUM increased 2% in Q4 2024 compared to Q3 2024, primarily due to capital raised in Logistics and Credit strategies.
- Pipeline for future performance-driven Distributable Earnings is significant.
Challenges Ahead
- The company will no longer be holding its fourth quarter and full year 2024 earnings conference call and webcast.
- Net income (loss) attributable to Bridge per share of Class A common stock was a loss of $(0.15) for the quarter.
- Q4 2024 decrease in net insurance income largely due to claims in our captive insurance company during 2024.
- Capital deployed decreased by 37% in Q4 2024 compared to Q4 2023.
- Unrealized Accrued Performance Allocations decreased by 11% in Q4 2024 compared to Q4 2023.