Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Income (Loss) (Unaudited)

v3.25.1
Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUE    
Net commissions and fees $ 676,128 $ 537,887
Fiduciary investment income 14,038 14,159
Total revenue 690,166 552,046
EXPENSES    
Compensation and benefits 430,289 373,527
General and administrative 106,060 75,867
Amortization 64,985 27,988
Depreciation 2,639 2,080
Change in contingent consideration (14,042) (65)
Total operating expenses 589,931 479,397
OPERATING INCOME 100,235 72,649
Interest expense, net 54,508 29,400
Income from equity method investment in related party (4,937) (5,606)
Other non-operating loss (income) (377) 1,752
INCOME BEFORE INCOME TAXES 51,041 47,103
Income tax expense 55,430 6,426
NET INCOME (LOSS) (4,389) 40,677
Net income attributable to non-controlling interests, net of tax 23,253 24,142
NET INCOME (LOSS) ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. (27,642) 16,535
Class A Common Stock    
EXPENSES    
NET INCOME (LOSS) ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. $ (27,642) $ 16,535
NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK:    
Basic (in dollars per share) $ (0.22) $ 0.14
Diluted (in dollars per share) $ (0.22) $ 0.13
WEIGHTED-AVERAGE SHARES OF CLASS A COMMON STOCK OUTSTANDING:    
Basic (in shares) 125,419,656 117,811,805
Diluted (in shares) 125,419,656 269,922,368