Key Highlights

  • Total Revenue was USD 58 million, up 1% from the prior year quarter.
  • Adjusted EBITDA was over USD 6 million, an 11% margin.
  • Assets under management were USD 51.6 billion, up 5% year over year.
  • Operating expenses were USD 64 million, down 25% from USD 86 million.

AlTi Global, Inc. (NASDAQ:ALTI) reported third quarter 2026 total revenue of USD 58 million, up 1% from the prior year quarter. Reported EPS was negative USD 0.14 and revenue was USD 57.90 million, compared with estimates of EPS of USD 0.02 and revenue of USD 65.80 million.

Recurring management and advisory fees were USD 55 million, up 7% year over year and 2% sequentially. Distributions from investments declined 17% year over year, primarily on lower distributions tied to management fees in the real estate bridge lending strategy.

Assets Under Management and Flows

Assets under management were USD 51.6 billion at September 30, 2026, up 5% year over year and in line with the prior quarter end, primarily on portfolio performance. Net Wealth Management outflows were about USD 250 million during the quarter.

The company recorded a minor adjustment to the value of its stake in European equities manager Zebedee because of its more muted 2026 performance. Following the quarter, it received information that results in a further noncash unrealized loss, which it currently projects at approximately USD 20 million to USD 23 million in fourth quarter other expense.

Expenses and Profitability

Operating expenses were USD 64 million, improving 25% from USD 86 million a year earlier. Compensation and benefits were USD 39 million, down 6%. Non-compensation expenses improved 44%, which the company tied to zero-based budgeting and expense management and to the absence of prior year nonrecurring bad Debt and redress provisions related to the strategic portfolio realignment. Professional fees fell 37% from the third quarter of 2025, and general and administrative and occupancy expenses were lower. Non-compensation expenses for the first nine months fell 23%.

Global headcount was reduced by about 8% over the last 12 months and 3% since the end of June.

Adjusted EBITDA was over USD 6 million, up 15% from the prior quarter and up 1% from the third quarter of 2025, with an adjusted EBITDA Margin of 11%, in line with the prior year period.

GAAP Results and Financing

The GAAP operating loss was USD 6 million, a 79% year-over-year improvement. For the first nine months, the GAAP operating loss improved 56%. The net loss from continuing operations was USD 11 million, compared with USD 87 million in the prior year period.

Other expense totaled less than USD 5 million, primarily a USD 7 million unrealized loss on the valuation of the stake in a European Equity strategy. Third quarter 2025 other expense totaled USD 28 million, including an intangible Impairment associated with an arbitrage fund.

Last month the company entered into a new USD 85 million Credit agreement with Diameter Finance Administration, which management said provides additional Capital to invest in its global Business and fund organic and inorganic growth.

Interim chief executive Nancy Curtin and the executive team described the quarter as reflecting positive momentum in the wealth management franchise. Management said the cost actions aim to streamline the organization, simplify operations, reduce complexity and improve scalability.

European Equity Stake and Credit Facility

AlTi's quarter showed operating expenses of USD 64 million, down from USD 86 million, and Assets under management of USD 51.6 billion. Management also cited a projected fourth quarter unrealized loss of USD 20 million to USD 23 million on its European equity manager stake, net wealth management flows, recurring management fees and the use of its new USD 85 million credit facility.