AlTi Global Inc
For the period ended Mar 31, 2024. Filed May 10, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 10, 2024
ALTI$2.47+5.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statement of Cash Flows (Unaudited)
Condensed Consolidated Statement of Cash Flows (Unaudited)
| For the Three Months Ended | ||
|---|---|---|
| (Dollars in Thousands) | March 31, 2024 | March 31, 2023 |
| Cash Flows from Operating Activities | ||
| Net income (loss) | $21,745 | $(90,290) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 2,567 | 4,517 |
| Amortization of debt discounts and deferred financing costs | 330 | 2,364 |
| Unrealized (gain) loss on investments | 3,661 | (3,472) |
| Impairment loss on goodwill and intangible assets | — | 172 |
| Gain (loss) on TRA | (5,933) | (81) |
| (Income) loss on equity method investments | (2) | — |
| Fair value of warrant liability | 340 | 12,942 |
| Fair value of earn-out liability | (39,454) | 29,206 |
| Deferred income tax (benefit) expense | (4,666) | 3,119 |
| Equity-settled share-based payments | 2,579 | 28,953 |
| Unrealized foreign currency (gains)/losses | 1 | 58 |
| (Gain) loss from retirement of debt | — | (73) |
| Forgiveness of debt shareholder loan | 53 | 66 |
| Fair value of interest rate swap | — | 54 |
| Cash flows due to changes in operating assets and liabilities | ||
| Fees receivable | 34,361 | 11,147 |
| Other assets | (4,702) | (8,220) |
| Operating cash flow from operating leases | 572 | 290 |
| Accounts payable and accrued expenses | (5,203) | (27,102) |
| Accrued compensation and profit sharing | (27,430) | (13,357) |
| Other liabilities | 5,706 | (11,524) |
| Other operating activities | 3 | 186 |
| Net cash provided by (used in) operating activities | (15,472) | (61,045) |
| (Continued on the following page) | ||
Condensed Consolidated Statement of Cash Flows (Unaudited)
| (Continued from the previous page) | For the Three Months Ended | |
|---|---|---|
| (Dollars in Thousands) | March 31, 2024 | March 31, 2023 |
| Cash Flows from Investing Activities | ||
| Cash payment for acquisition of TWMH and TIG historical equity | — | (99,999) |
| Receipt of payments of notes receivable from members | 66 | 216 |
| Cash receipts from the repayment of advances and loans | — | 298 |
| Purchases of investments | (39) | (15,376) |
| Cash payment for delayed share purchase agreement | (1,818) | — |
| Payment of Payout Right | — | (760) |
| Sales of investments | 779 | 1,599 |
| Proceeds from sale of LXi REIT Advisors | 32,202 | — |
| Purchases of fixed assets | (210) | (107) |
| Net cash provided by (used in) investing activities | 30,980 | (114,129) |
| Cash Flows from Financing Activities | ||
| Proceeds from issuance of preferred stock and warrants | 115,000 | — |
| Member contribution (distribution) | (2,681) | (4,257) |
| Payments on term notes and lines of credit | (33,562) | (136,273) |
| Borrowings on term notes and lines of credit | 32,258 | 145,660 |
| Payments of debt issuance costs | (1,519) | — |
| Tax payments related to vesting of RSUs | (4,037) | — |
| Increase (decrease) in distributions due to former TIG members | — | (7,108) |
| Cash payment for purchase of shares to be transferred as part of Alvarium share compensation | — | (4,215) |
| Cash receipts from exercise of Warrants | — | 4,008 |
| Payment of preferred stock issuance costs | (1,363) | — |
| Other financing activities | — | 1 |
| Net cash provided by (used in) financing activities | 104,096 | (2,184) |
| Effect of exchange rate changes on cash | (223) | 1,052 |
| Net increase (decrease) in cash | 119,381 | (176,306) |
| Cash and cash equivalents at beginning of the period | 18,246 | 194,096 |
| Cash and cash equivalents at end of the period | $137,627 | $17,790 |
| Reconciliation of balance sheet cash and cash equivalents to cash flows: | ||
| Cash and cash equivalents on balance sheet | $134,237 | $4,477 |
| Cash and cash equivalents included in Assets held for sale (Note 3) | 3,390 | $— |
| Cash and cash equivalents, including cash in Assets held for sale | $137,627 | $4,477 |
| Supplemental Disclosure of Cash Flow Information | ||
| Cash Paid During the Period for: | ||
| Income taxes | 30 | — |
| Interest payments on term notes and lines of credit | 4,425 | 1,107 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.