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P10 Inc. Class A (PX-2.27%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in total revenues to $74,243,000 from $58,942,000 in the same quarter the previous year. The increase is attributed to organic growth in Fee-Paying Assets Under Management (FPAUM) across multiple segments.
Operating expenses for the quarter increased to $65,417,000 from $58,559,000, driven by higher professional fees and general administrative costs.
The company reported an income from operations of $8,826,000 for the quarter, compared to $383,000 in the previous year, reflecting improved revenue performance.
Net income for the quarter was $1,333,000, up from a net loss of $8,750,000 in the previous year. The improvement is attributed to increased revenues and controlled operating expenses.
Cash provided by operating activities was $73,258,000, while cash used in investing and financing activities was $3,358,000 and $38,689,000, respectively.
P10 had a working capital of $63,268,000 as of September 30, 2024. The company continues to focus on expanding its private market solutions and maintaining a strong financial position.
The filing also details the company's recent debt refinancing, which included a new senior secured revolving credit facility and term loan facility.
P10 does not anticipate cash dividend payments to common stockholders in the near future.
The company identified no material weaknesses in its internal controls over financial reporting.
P10 continues to focus on expanding its presence in the private markets and enhancing its data-driven investment strategies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the P10 Inc. Class A quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.