Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Income (Unaudited)

v3.25.2
Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
REVENUE        
Net commissions and fees $ 840,857 $ 680,248 $ 1,516,985 $ 1,218,135
Fiduciary investment income 14,313 15,193 28,351 29,352
Total revenue 855,170 695,441 1,545,336 1,247,487
EXPENSES        
Compensation and benefits 485,272 414,049 915,561 787,576
General and administrative 107,049 82,967 213,109 158,834
Amortization 69,668 30,541 134,653 58,529
Depreciation 2,888 2,273 5,527 4,353
Change in contingent consideration (759) 1,243 (14,801) 1,178
Total operating expenses 664,118 531,073 1,254,049 1,010,470
OPERATING INCOME 191,052 164,368 291,287 237,017
Interest expense, net 58,334 31,128 112,842 60,528
Income from equity method investments (5,156) (3,722) (10,093) (9,328)
Other non-operating loss (income) 143 233 (234) 1,985
INCOME BEFORE INCOME TAXES 137,731 136,729 188,772 183,832
Income tax expense 13,026 18,691 68,456 25,117
NET INCOME 124,705 118,038 120,316 158,715
Net income attributable to non-controlling interests, net of tax 72,729 71,251 95,982 95,393
NET INCOME ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. 51,976 46,787 24,334 63,322
Class A Common Stock        
EXPENSES        
NET INCOME ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC. $ 51,976 $ 46,787 $ 24,334 $ 63,322
NET INCOME PER SHARE OF CLASS A COMMON STOCK:        
Basic (in dollars per share) $ 0.41 $ 0.38 $ 0.19 $ 0.52
Diluted (in dollars per share) $ 0.38 $ 0.37 $ 0.18 $ 0.49
WEIGHTED-AVERAGE SHARES OF CLASS A COMMON STOCK OUTSTANDING:        
Basic (in shares) 126,481,643 118,394,113 125,953,583 118,102,959
Diluted (in shares) 274,144,981 271,218,549 138,166,545 270,570,458