10-Q · May 11, 2026
AlTi Global reported a Q4 FY2026 revenue of $88 million, surpassing analyst expectations of $86.6 million, with a minor EPS loss of $0.00 against estimates of $0.02. The company's performance reflects a significant…
Earnings analysis · 10-Q
ALTI earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
AlTi’s Q2 results were weak relative to expectations: revenue was $58.023 million and diluted EPS was $(0.31), missing consensus of $61.8 million and $0.06, respectively. Recurring management fees rose 11% and operating…
Read full summary
AlTi’s Q2 results were weak relative to expectations: revenue was $58.023 million and diluted EPS was $(0.31), missing consensus of $61.8 million and $0.06, respectively. Recurring management fees rose 11% and operating expenses fell 12%, but a $21.377 million unrealized investment loss contributed to a $30.751 million net loss from continuing operations. The filing also confirms that disclosure controls remain not fully effective, with one of three remaining material weaknesses tied to insufficiently documented process-level controls. No new quantitative guidance was provided.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.31
- Gross margin
- 100.0%
What stood out
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Revenue grew year over year but missed estimates
Q2 revenue was $58.023 million, down from $73 million in Q1 2026 but up from $53 million in Q2 2025. Revenue was 6.11% below the $61.8 million consensus estimate.
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Recurring fees increased 11%
Recurring management fees increased 11% year over year, supporting underlying fee growth despite lower total revenue.
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Operating expenses fell 12%
Operating expenses declined 12% year over year, indicating progress on cost control.
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Gross margin remained at 100%
Gross margin remained 100.0% in Q2, consistent with each quarter shown in the provided financial history from Q4 2024 through Q1 2026.
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Control remediation continued
Management continued remediation efforts during the six months ended June 30, 2026, including testing process-level, management-review and information-technology controls.
What to watch
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Material earnings and revenue miss
Q2 diluted EPS was a loss of $0.31 versus a $0.06 consensus estimate, while revenue of $58.023 million was 6.11% below the $61.8 million estimate.
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Investment losses drove GAAP loss
An unrealized investment loss of $21.377 million contributed to a $30.751 million net loss from continuing operations, increasing earnings volatility beyond recurring fee performance.
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Material weaknesses remain unresolved
Disclosure controls were not fully effective as of June 30, 2026. Management stated that one of the three remaining material weaknesses involved insufficiently documented process-level controls, and that controls were not fully operating effectively as of that date.
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Higher control-remediation costs ahead
The company expects additional remediation costs as it ceases to be an emerging growth company effective December 31, 2026, including external-auditor costs to assess remediation.
Management's outlook
The filing does not provide new quantitative EPS or revenue guidance. The previously disclosed FY2026 revenue outlook was $290 million-$310 million; no change to that outlook is stated in the provided filing text.
Earlier filings 4
10-K · March 31, 2026
AlTi repositioned itself in 2025 by disposing of its International Real Estate businesses (administrators appointed July 11, 2025) and is now organized as a single operating segment focused on Wealth & Capital…
10-Q · August 11, 2025
AlTi reported Q2 revenue of $53.127M, up from $49.453M in Q2 2024 (+$3.674M, +7.4%), but profitability deteriorated: operating loss widened to $30.147M (‑56.8% margin) vs a $14.955M loss (‑30.2% margin) year‑ago,…
10-K · March 17, 2025
AlTi positions itself as an independent global wealth manager with a two-segment model (Wealth & Capital Solutions; International Real Estate) and manages or advises approximately $75.7 billion of combined assets as of…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.