7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2019-10-01 2019-03-31 
      
    		                       
      cash flows from operating activities
    		                       
      net income
    		210,549,000 175,522,000 168,305,000 159,942,000 130,223,000 136,416,000 143,382,000 103,741,000 111,630,000 101,939,000 102,193,000 99,002,000 81,566,000 81,600,000 97,445,000 60,005,000 65,305,000 66,233,000 81,565,000 66,449,000 47,048,000 57,278,000 42,352,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                       
      depreciation and amortization
    		64,351,000 63,048,000 62,699,000 62,854,000 57,872,000 49,936,000 49,337,000 47,500,000 46,559,000 45,887,000 45,404,000 44,881,000 44,778,000 44,770,000 44,450,000 43,652,000 44,823,000 41,867,000 40,966,000 39,837,000 38,857,000 36,402,000 33,503,000 
      stock-based compensation expense
    		26,136,000 26,909,000 22,187,000 23,363,000 26,169,000 23,715,000 16,402,000 20,458,000 17,347,000 15,713,000 11,610,000 17,212,000 14,757,000 20,963,000 13,712,000 15,000,000 13,776,000 12,407,000 10,760,000 11,212,000 9,757,000 8,732,000  
      deferred taxes
    		8,855,000 5,154,000 9,610,000  13,326,000 8,890,000 8,118,000 19,825,000 20,807,000 25,041,000 24,223,000 3,785,000 18,527,000 18,911,000 11,640,000 38,329,000 18,331,000 12,752,000 15,997,000 30,454,000 12,527,000 24,042,000  
      tax receivable agreement liability adjustment
    		   -8,600,000                    
      other (income) loss
    		-39,420,000 -12,665,000 -4,221,000 1,124,000    11,100,000 1,907,000 456,000 -341,000             
      increase in operating assets:
    		                       
      receivable from/payable to brokers and dealers and clearing organizations
    		-11,602,000 30,585,000 -30,972,000 11,675,000 -4,377,000 22,182,000 -155,000 -29,314,000 6,000 -5,000 367,000 -367,000 2,000 20,570,000 -20,573,000 123,000 702,000 -608,000 -101,000 429,000 -420,000   
      deposits with clearing organizations
    		1,914,000 35,330,000 -47,246,000 10,340,000 -1,790,000 51,909,000 -77,811,000 -10,297,000 -2,552,000 10,290,000 -10,240,000 1,477,000 592,000 9,330,000 -14,996,000 3,860,000 -2,633,000 7,140,000 906,000 -1,437,000 846,000 2,468,000 2,570,000 
      accounts receivable
    		-8,426,000 11,386,000 -46,632,000 21,327,000 -599,000 -40,292,000 -24,657,000 1,249,000 -4,091,000 9,072,000 -27,311,000 12,710,000 700,000 5,799,000 -36,437,000 3,468,000 7,345,000 5,649,000 -38,831,000 -5,663,000 5,205,000 5,138,000  
      receivable and due from affiliates/payable and due to affiliates
    		1,448,000 14,029,000 6,604,000 -8,600,000 4,418,000 -863,000 -3,493,000 3,830,000 -2,794,000 -7,064,000 1,787,000             
      deferred tax asset as a result of transferable tax credit purchase
    		0 0 17,646,000                     
      other assets
    		9,037,000 -11,877,000 -18,909,000 -10,350,000 -5,311,000 2,077,000 1,477,000 -1,029,000 -4,224,000 4,228,000 -2,894,000 2,313,000 3,630,000 -6,984,000 -1,079,000 1,262,000 5,008,000 -7,480,000 7,226,000 -17,647,000 -6,871,000 2,593,000  
      increase in operating liabilities:
    		                       
      securities sold under agreements to repurchase
    		   0 0 0 -21,612,000        20,511,000         
      accrued compensation
    		52,553,000 54,145,000 -121,644,000 46,268,000 54,639,000 40,882,000 -85,330,000 41,778,000 33,160,000 21,909,000 -88,883,000 25,603,000 35,764,000 19,106,000 -81,025,000 42,155,000 27,954,000 13,955,000 -59,275,000 26,499,000 28,831,000 23,359,000  
      deferred revenue
    		-4,272,000 -6,559,000 16,064,000 1,358,000 993,000 688,000 1,538,000 -5,714,000 3,955,000 -3,174,000 7,729,000 -5,845,000 4,822,000 -3,732,000 2,766,000 -4,853,000 1,756,000 245,000 3,995,000 -6,675,000 2,411,000 -4,587,000 602,000 
      accounts payable, accrued expenses and other liabilities
    		31,180,000 24,180,000 26,716,000 -6,799,000 15,709,000 -9,870,000 30,718,000 10,505,000 -4,321,000 -11,193,000 7,196,000 11,580,000 -2,392,000 -7,130,000 8,137,000 650,000 -313,000 -4,587,000 770,000 7,172,000 -2,236,000 -10,159,000  
      net cash from operating activities
    		342,303,000 409,187,000 60,207,000 282,025,000 292,132,000 285,670,000 37,914,000 244,761,000 217,389,000 213,099,000 70,840,000 208,000,000 201,507,000 178,072,000 45,243,000 191,651,000 182,364,000 148,434,000 55,572,000 139,702,000 138,979,000 120,538,000  
      capex
    		-31,411,000 -22,057,000 -14,817,000 -37,958,000 -17,016,000 -16,628,000 -17,267,000 -12,192,000 -17,901,000 -14,957,000 -16,714,000 -14,667,000 -12,342,000 -15,047,000 -18,040,000 -15,821,000 -8,846,000 -8,701,000 -8,266,000 -8,182,000 -8,066,000 -7,481,000  
      free cash flows
    		310,892,000 387,130,000 45,390,000 244,067,000 275,116,000 269,042,000 20,647,000 232,569,000 199,488,000 198,142,000 54,126,000 193,333,000 189,165,000 163,025,000 27,203,000 175,830,000 173,518,000 139,733,000 47,306,000 131,520,000 130,913,000 113,057,000  
      cash flows from investing activities
    		                       
      cash paid for acquisitions, net of cash acquired
    		   281,000 -771,183,000 0 -89,224,000 -64,000        1,095,000 0       
      cash paid for investments
    		-18,440,000   -8,610,000 0 -11,085,000 -500,000                 
      cash received from sale of digital assets
    		                       
      purchases of furniture, equipment, software and leasehold improvements
    		-14,031,000 -5,465,000 -1,645,000 -25,231,000 -4,312,000 -4,828,000 -6,589,000 -1,062,000 -6,301,000 -4,287,000 -6,879,000 -5,255,000 -3,136,000 -5,762,000 -9,061,000 -7,164,000        
      capitalized software development costs
    		-17,380,000 -16,592,000 -13,172,000 -12,727,000 -12,704,000 -11,800,000 -10,678,000 -11,130,000 -11,600,000 -10,670,000 -9,835,000 -9,412,000 -9,206,000 -9,285,000 -8,979,000 -8,657,000 -8,846,000 -8,701,000 -8,266,000 -8,182,000 -8,066,000 -7,481,000  
      net cash from investing activities
    		-34,851,000 -42,057,000 -14,817,000 -46,287,000 -788,199,000 -27,713,000 -106,991,000 -12,256,000 -86,449,000 -17,346,000 -16,714,000 -14,667,000 -12,342,000 -15,047,000 -18,040,000 -14,726,000 -10,017,000 -221,742,000 -12,625,000 -33,188,000 -10,168,000   
      cash flows from financing activities
    		                       
      share repurchases pursuant to share repurchase programs
    		0 0 -844,000 -34,661,000    -2,331,000 -2,818,000 -9,245,000 -20,811,000             
      proceeds from stock-based compensation exercises
    		   0 1,915,000 2,021,000 2,807,000 7,244,000 412,000 3,190,000 4,392,000 515,000 2,059,000 6,924,000 692,000 21,127,000 4,441,000 21,139,000 46,397,000 31,296,000 6,915,000   
      dividends
    		-25,609,000 -25,606,000 -25,573,000 -21,305,000 -21,320,000 -21,321,000 -21,286,000 -19,079,000 -19,049,000 -19,048,000 -18,733,000 -16,643,000 -16,653,000 -16,360,000 -16,350,000 -16,214,000 -16,184,000 -16,142,000 -16,030,000 -15,180,000 -15,025,000 -13,067,000  
      distributions to non-controlling interests
    		-1,630,000 -5,112,000 -7,416,000 -2,941,000 -8,768,000 -9,963,000 -6,095,000 -4,907,000 -1,963,000 -3,286,000 -2,283,000 -3,291,000 -2,857,000 -2,568,000 -2,178,000 -4,162,000        
      payroll taxes paid for stock-based compensation
    		-1,219,000 -1,639,000 -46,127,000 -1,439,000 -2,101,000 -3,804,000 -40,653,000 -2,157,000 -7,436,000 -4,451,000 -37,297,000 -1,427,000 -2,272,000 -4,049,000 -93,927,000 -14,451,000 -3,139,000 -7,970,000 -45,464,000     
      payments on tax receivable agreement liability
    		0 -18,371,000 -3,066,000 0 -370,000 -51,043,000 -25,543,000 0 0 0 -5,724,000 0 0 0 -8,995,000 44,000 0 0 -6,849,000     
      net cash from financing activities
    		-28,458,000 -50,728,000 -83,026,000 -60,346,000 -55,035,000 -84,110,000 -90,770,000 -24,024,000 -30,854,000 -32,840,000 -80,456,000 -54,846,000 -28,723,000 -25,053,000 -168,081,000 -25,656,000 -29,931,000 -56,063,000 -24,450,000 3,370,000 -13,894,000   
      effect of exchange rate changes on cash, cash equivalents and restricted cash
    		-1,193,000 7,264,000 3,789,000 -8,824,000 6,606,000 -498,000 -1,740,000 4,577,000 -3,077,000 813,000 1,776,000 8,515,000 -9,934,000 -6,314,000 -3,109,000 -1,126,000 -1,736,000 658,000 161,000     
      net increase in cash, cash equivalents and restricted cash
    		277,801,000 323,666,000 -33,847,000 166,568,000 -544,496,000 173,349,000 -161,587,000 213,058,000 97,009,000 163,726,000 -24,554,000 147,002,000 150,508,000 131,658,000 -143,987,000 150,143,000 140,680,000 -128,713,000 18,658,000     
      cash, cash equivalents and restricted cash
    		                       
      beginning of period
    		0 0 1,341,302,000 0 0 0 1,707,468,000 0 0 0 1,258,229,000 0 0 0 973,048,000 0 0 0 792,280,000 0 0 0 411,304,000 
      end of period
    		277,801,000 323,666,000 1,307,455,000 166,568,000 -544,496,000 173,349,000 1,545,881,000 213,058,000 97,009,000 163,726,000 1,233,675,000 147,002,000 150,508,000 131,658,000 829,061,000 150,143,000 140,680,000 -128,713,000 810,938,000 113,928,000 117,463,000 70,581,000 362,808,000 
      deferred tax expense
    		                       
      cash paid for foreign currency call option, net of sale proceeds
    		       0                
      deferred financing costs
    		                       
      cash paid for foreign currency call option
    		                       
      employee equity compensation payable
    		               0 15,000 0 -1,915,000 387,000 -117,000 334,000  
      (income) income from investments
    		                       
      receivable from/payable to affiliates
    		           8,302,000 -1,239,000 -4,620,000 692,000 745,000 295,000 861,000 -6,491,000 110,000 3,141,000   
      purchase of equity investments
    		                       
      proceeds from issuance of class a common stock in follow-on offering, net of underwriting discounts
    		                       
      purchase of llc interests
    		                   0 0   
      offering costs from issuance of class a common stock in follow-on offering
    		                       
      share repurchases pursuant to the share repurchase program
    		            -9,000,000 -9,000,000 -47,323,000 -12,000,000 -12,555,000       
      supplemental disclosure of cash flow information
    		                       
      income taxes paid, net of
    		            5,666,000 2,562,000 2,764,000  1,308,000 3,971,000 -4,175,000     
      non-cash investing and financing activities
    		                       
      furniture, equipment, software and leasehold improvement additions included in accounts payable
    		                       
      other - see note 9
    		                       
      items arising from llc interest ownership changes:
    		                       
      establishment of liabilities under tax receivable agreement
    		            30,195,000 40,000 5,659,000 0 0 0 27,666,000 42,804,000 0 102,525,000  
      deferred tax asset
    		            57,935,000 7,489,000 44,335,000 12,130,000 1,481,000 10,465,000 99,260,000 96,770,000 3,786,000 176,375,000  
      reconciliation of cash, cash equivalents and restricted cash as shown on the statements of financial condition:
    		            0 0 2,022,000  0       
      cash and cash equivalents
    		            150,508,000 131,658,000 828,061,000  140,680,000 -128,713,000 809,938,000 113,928,000 117,463,000 70,781,000  
      restricted cash
    		            0 0 1,000,000  0 0 1,000,000 0 0 -200,000  
      cash, cash equivalents and restricted cash shown in the statement of cash flows
    		            150,508,000 131,658,000 829,061,000  140,680,000 -128,713,000 810,938,000 113,928,000 117,463,000 70,581,000  
      non-cash financing activities
    		                       
      unsettled share repurchases included in other liabilities
    		                       
      withholding taxes payable relating to stock-based compensation settlements included in accrued compensation
    		              1,831,000         
      pre-ipo capital distributions
    		                     0  
      proceeds from issuance of class a common stock in the ipo and follow-on offerings, net of underwriting discounts
    		                   0 0   
      offering costs from issuance of class a common stock in the ipo and follow-on offerings
    		                   -105,000 -766,000   
      income taxes paid, net of refunds
    		                       
      lease right-of-use assets obtained in exchange for lease liabilities, net of modifications and terminations
    		                       
      items arising from the ipo, follow-on offerings and other llc interest ownership changes:
    		                       
      other - see note 14
    		                       
      other - see note 10
    		                       
      purchase of furniture, equipment, software and leasehold improvements
    		                 -4,184,000 -4,359,000 -5,006,000 -2,102,000 -7,214,000  
      capital distributions to non-controlling interests
    		                 -1,969,000 -2,504,000 -8,309,000 -4,838,000   
      contingent consideration
    		                       
      vesting of p-1 (c) shares
    		                       
      effect of exchange rate changes on cash and cash equivalents
    		                   4,044,000 2,546,000 4,024,000 866,000 
      net increase in cash and cash equivalents
    		                   113,928,000 117,463,000   
      cash and cash equivalents and restricted cash
    		                       
      income taxes paid
    		                   2,071,000 12,064,000 13,555,000  
      items arising from the reorganization transactions, ipo, follow-on offering and other llc interest ownership changes:
    		                       
      vesting of contingent consideration
    		                       
      conversion of certain cash-settled prsus to equity-settled prsus
    		                       
      payroll taxes paid for stock-based compensation exercises
    		                    -180,000   
      items arising from llc interest ownership changes
    		                       
      offering costs from follow-on offering
    		                       
      net decrease in cash and cash equivalents
    		                       
      interest paid
    		                       
      business acquisitions
    		                       
      purchase of investments
    		                       
      mezzanine capital contributions
    		                       
      mezzanine capital distributions
    		                       
      proceeds from issuance of class a common stock in the ipo, net of underwriting discounts
    		                     0  
      purchase of llc interests in connection with the ipo
    		                       
      proceeds from issuance of class a common stock in the follow-on offering
    		                       
      purchase of llc interests and class a common stock in connection with the follow-on offering
    		                       
      offering costs from ipo and follow-on offering
    		                       
      conversion of convertible term note payable to thomson reuters to class a shares
    		                       
      receivable from brokers and dealers and clearing organizations
    		                      86,169,000 
      receivable from affiliates
    		                      217,000 
      payable to brokers and dealers and clearing organizations
    		                       
      payable to affiliates
    		                      950,000 
      net cash (used in) investing activities
    		                       
      offering costs from issuance of class a common stock in the ipo
    		                       
      net cash (used in) financing activities
    		                       
      items arising from the reorganization transactions and ipo:
    		                       
      share-based compensation expense
    		                      4,674,000 
      capital distributions
    		                       
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.