AlTi Global, Inc. Class A Common Stock 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- AlTi reported assets under management (AUM) of $51 billion for the wealth management business as of June 30, 2026, reflecting an 8% year-over-year increase and 6% growth from March 31, 2026.
- Net client inflows totaled approximately $700 million in the second quarter of 2026, with gross inflows near $800 million.
- Total revenue for the quarter was $58 million, up 11% year over year, with recurring management and advisory fees of $54 million, also up 11%.
- Adjusted EBITDA was over $5 million, a 9% increase compared to the prior year quarter, with an adjusted EBITDA margin of 9.3%.
- Operating expenses decreased 12% year over year to $69 million, with compensation and benefits expenses down 5% year over year and 26% sequentially.
- AlTi recorded an unrealized investment loss of nearly $19 million related to the Asian Credit and Special Situations Strategy due to the fund's decision to unwind within 12 months following the founder's health event.
- On a GAAP basis, the company reported an operating loss of $11 million, a 58% improvement year over year, and a net loss from continuing operations of $31 million compared to $26 million in the prior year period.
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Transcript
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At this time, I would like to welcome everyone to AlTi's second quarter 2026 earnings conference call. I would like to advise all parties that this conference is being recorded, and a replay of the webcast is available on AlTi's investor relations website. Now at this time, I will turn things over to Jeff Schoenborn with AlTi Investor Relations.
Please go ahead. Good afternoon, and welcome to AlTi Global's second quarter 2026 earnings conference call.
On today's call, we will hear prepared remarks from Nancy Curtin, interim chief executive officer and global chief investment officer, as well as Pat Keenan, chief financial officer. They will be joined by Kevin Moran, our president and chief operating officer, for the Q&A session. Before we begin, I would like to remind everyone that certain statements made during the call may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, comments made during the prepared remarks and in response to questions. Forward-looking statements can be identified by the use of words such as anticipate, believe, continue, estimate, expect, future, intend, may, planned, and will, or similar terms.
Because these forward-looking statements involve both known and unknown risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these statements. For discussion of the risks and uncertainties that could cause actual results to differ, please refer to AlTi's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. AlTi assumes no obligation or responsibility to update any forward-looking statements. During this call, some comments may include references to non-GAAP financial measures. Full reconciliations can be found in our earnings presentation and our related SEC filings. With that, I'd like to turn the call over to Nancy Curtin.
Thank you, Jeff, and good afternoon, everyone. I want to begin with what we believe is one of the most important aspects of the AlTi story, the strength, rarity, and long-term relevance of our franchise. Globally, the creation of private wealth continues to be supported by powerful secular tailwinds. Wealth creation is expanding not only in the U.S., but increasingly across Europe, Asia, the Middle East, and other markets. At the same time, the needs of ultra high net worth families are becoming more complex, more global, and more interconnected. Our focus remains squarely on serving ultra high net worth families, family offices, and institutions. The number of independent firms capable of advising families with hundreds of millions or indeed billions of dollars of assets across geographies, generations, and asset classes is remarkably small. We believe this scarcity value creates substantial long-term franchise value.
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