What changed
GAAP EPS of $0.10 fell 59% from $0.24 a year ago, driven primarily by higher stock-based compensation tied to post-IPO dual-trigger award recognition. Revenue of $91.9M rose 1% YoY, as 12% Total Platform Asset growth to $99.0B was offset by mix shift toward lower-fee Investment Advisory assets. Net income declined 49% YoY to $17.6M.
Why it matters
GAAP EPS of $0.10 fell 59% from $0.24 a year ago, driven primarily by higher stock-based compensation tied to post-IPO dual-trigger award recognition. Revenue of $91.9M rose 1% YoY, as 12% Total Platform Asset growth to $99.0B was offset by mix shift toward lower-fee Investment Advisory assets. Net income declined 49% YoY to $17.6M.