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▼ FY 2025 Summary Analysis
Annual report ending Dec 31, 2025Overview and Growth
AlTi Global, Inc. generated $254.96M of revenue in fiscal 2025, with net loss of $119.70M and an operating cash outflow of $51.44M. The $254.96M revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 28.5% above fiscal 2024 revenue of $198.39M, marking a year-over-year increase. The diluted weighted-average share count was 99.87M, linking total earnings with the per-share result received by shareholders. The diluted share count was 25.3% higher than fiscal 2024, when diluted shares averaged 79.69M, adding context to the EPS comparison. Total assets stood at $1.18B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 0.22x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.Profitability
The reported operating result was an operating loss of $73.94M, reflecting costs that exceeded gross profit. An operating margin of -29.0% reflected costs exceeding revenue-level gross profit by 29.0% of sales. The company ended the period with a net loss of $119.70M, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 46.9% after all recognized items. Negative EBITDA totaled $55.50M, confirming that the earnings deficit remained before depreciation and amortization. Before income taxes, the company recorded a loss of $105.13M, bridging the operating result to the final net loss. Pretax margin was -41.2%, reflecting a pre-tax loss equal to 41.2% of revenue. Income tax expense totaled $18.59M, providing the reported tax component that separates pretax and after-tax earnings. The net loss equaled 13.7% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 10.2%, placing the bottom-line deficit against the company’s resource base. The net loss widened to $119.70M from $103.03M in fiscal 2024.Liquidity and Capital Structure
The company held $1.18B of assets against $301.66M of liabilities and $874.79M of equity, revealing how the asset base was financed. Cash and equivalents totaled $41.16M, identifying the most liquid reported component available within the broader current-asset balance. Borrowings totaled $883.00K, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.0x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 0.1%, comparing borrowing with the total asset balance. Book equity represented 74.4% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 25.6% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 3.5%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 6.3% lower than fiscal 2024 assets of $1.26B, measuring the company’s own balance-sheet change. Against $970.20M of equity in fiscal 2024, the current book-equity balance moved 9.8% and ended lower. Compared with $64.42M in fiscal 2024, the current cash balance moved 36.1% and finished lower.Cash Flow and Earnings Quality
Operating activities used $51.44M of cash, resulting in an operating cash outflow for the year. Capital expenditures used $806.00K in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. Operating cash flow and capital spending combined to leave a $52.24M cash deficit after capital spending. The free-cash-flow deficit equaled 20.5% of revenue, showing the post-investment cash shortfall relative to sales. The free-cash-flow deficit equaled 4.4% of total assets, placing the cash shortfall against the company’s resource base. The operating cash outflow widened to $51.44M from $50.65M in fiscal 2024.
Based on the annual report for the fiscal year ending Dec 31, 2025.
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