Revenue and Engagement Growth
Second quarter revenues were $155 million, with first half revenues of $367 million, flat year-over-year. The business broadened by industry, product, and geography, with a higher average fee per engagement.
Senior Talent Expansion
Significant investments in senior talent with 6 partners and 3 managing directors joining the firm, making it the best hiring year on record since going public.
Acquisition of Devon Park Advisors
Acquired Devon Park Advisors, expanding capabilities in private funds advisory, enhancing coverage of alternative asset managers, and expected to contribute immediately to financial performance.
Positive Revenue Pipeline
Gross revenue pipeline and active engagement count are at peak levels, indicating potential for future revenue growth despite current conversion delays.
Strong Capital Position
Closed the quarter with $145 million in cash and no debt, and returned $24 million to equity holders in the second quarter.