Bridge Investment Group Holdings Inc. Reports Fourth Quarter and Full Year 2024 Results

Rhea-AI Summary

Bridge Investment Group Holdings (NYSE: BRDG) has released its financial results for Q4 and full year 2024. The company reported a net income of $15.4 million for Q4 and $16.7 million for the full year. Fee Related Earnings to the Operating Company reached $34.4 million in Q4 and $136.6 million for the year.

The company's Q4 Distributable Earnings were $32.6 million ($0.18 per share after-tax), while full-year Distributable Earnings totaled $128.4 million ($0.69 per share after-tax). Net income per Class A share showed a loss of $(0.15) in Q4 but a gain of $0.13 for the full year.

Bridge declared a quarterly dividend of $0.11 per share of Class A common stock, payable on March 28, 2025, to stockholders of record as of March 14, 2025.

Positive

• Fee Related Earnings of $136.6 million for full year 2024
• Full year net income of $16.7 million
• Distributable Earnings of $128.4 million for 2024
• Consistent quarterly dividend maintained at $0.11 per share

Negative

• Q4 net loss of $(0.15) per Class A share

Insights

Financial Analyst

The Q4 2024 results from Bridge Investment Group reveal several important dynamics in their business model. The Fee Related Earnings of $34.4M for Q4 demonstrate the company's ability to generate stable, recurring revenue from asset management activities, representing approximately 25% of the full-year FRE of $136.6M.

A notable divergence appears in the Q4 performance, where despite positive net income of $15.4M at the corporate level, Class A shareholders experienced a loss of $(0.15) per share. This discrepancy likely stems from the company's complex ownership structure and allocation of earnings between different share classes, typical in alternative asset managers post-IPO.

The distributable earnings metric, which better reflects the actual cash-generating capability of the business, showed resilience at $32.6M for Q4. The quarterly dividend of $0.11 per share represents approximately 61% of after-tax distributable earnings per share ($0.18), indicating a conservative payout ratio that leaves room for business reinvestment or future dividend growth.

The cancellation of the earnings call raises questions about corporate communication strategy and transparency. While not necessarily negative, this departure from standard practice warrants attention from investors, as earnings calls typically provide valuable insights into management's strategic thinking and forward-looking perspectives.

SALT LAKE CITY--(BUSINESS WIRE)-- Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today reported its financial results for the quarter and year ended December 31, 2024.

Net Income (Loss) was $15.4 million and $16.7 million for the quarter and year ended December 31, 2024, respectively. On a basic and diluted basis, net income (loss) attributable to Bridge per share of Class A common stock was a loss of $(0.15) and income of $0.13 for the quarter and year ended December 31, 2024, respectively.

Fee Related Earnings to the Operating Company were $34.4 million and $136.6 million for the quarter and year ended December 31, 2024, respectively.

Distributable Earnings of Bridge Investment Group Holdings LLC (the “Operating Company”) were $32.6 million, or $0.18 per share after-tax, for the quarter ended December 31, 2024 and $128.4 million, or $0.69 per share after-tax, for the year ended December 31, 2024.

Common Dividend

Bridge declared a quarterly dividend of $0.11 per share of its Class A common stock, payable on March 28, 2025 to its Class A common stockholders of record at the close of business on March 14, 2025.

Additional Information

The Company issued a full detailed presentation of its fourth quarter and full year 2024 results, which can be viewed on the Investors section of our website at www.bridgeig.com. The presentation is titled “Fourth Quarter 2024 Earnings Presentation.”

Conference Call and Webcast Information

The Company will no longer be holding its fourth quarter and full year 2024 earnings conference call and webcast previously scheduled for February 25, 2025.

About Bridge Investment Group

Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $50 billion of assets under management as of December 31, 2024. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. verticals across real estate, credit, renewable energy and secondaries strategies.

Forward-Looking Statements

This earnings release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical facts may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “outlook,” “could,” “believes,” “expects,” “potential,” “opportunity,” “continues,” “may,” “will,” “should,” “over time,” “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “foresees” or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that any such forward-looking statements are based on our beliefs, assumptions and expectations as of the date made, taking into account all information available to us at that time. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Actual results may differ materially from those express or implied in the forward-looking statements as a result of a number of factors, including but not limited to those risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge undertakes no duty to publicly update any forward-looking statements made herein or on the webcast/conference call or otherwise, whether as a result of new information, future developments or otherwise, except as required by law.

Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of the Company or any investment fund managed by the Company or its affiliates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250224470052/en/

Shareholder Relations:

Bonni Rosen

Bridge Investment Group Holdings Inc.

shareholderrelations@bridgeig.com

Media:

Charlotte Morse

Bridge Investment Group Holdings Inc.

(877) 866-4540

charlotte.morse@bridgeig.com

Source: Bridge Investment Group Holdings Inc.

FAQ

What were Bridge Investment Group's (BRDG) Q4 2024 earnings?

Bridge Investment Group reported net income of $15.4 million for Q4 2024, with Distributable Earnings of $32.6 million ($0.18 per share after-tax).

What dividend did BRDG declare for Q4 2024?

Bridge declared a quarterly dividend of $0.11 per share of Class A common stock, payable on March 28, 2025, to stockholders of record as of March 14, 2025.

What were BRDG's Fee Related Earnings for full year 2024?

Bridge's Fee Related Earnings to the Operating Company were $136.6 million for the full year 2024.

What was BRDG's earnings per share for full year 2024?

Bridge reported net income of $0.13 per Class A share for the full year 2024.

What were Bridge Investment Group's (BRDG) Distributable Earnings for 2024?

Bridge reported Distributable Earnings of $128.4 million, or $0.69 per share after-tax, for the full year 2024.