RYAN SPECIALTY HOLDINGS, INC.

For the period ended Mar 31, 2025. Filed May 2, 2025.

About 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, 2025 · Filed May 2, 2025

RYAN$47.20+0.2%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income (Loss) (Unaudited)

(In thousands, except share and per share data)

	Three Months Ended March 31,
	2025	2024
REVENUE
Net commissions and fees	$676,128	$537,887
Fiduciary investment income	14,038	14,159
Total revenue	$690,166	$552,046
EXPENSES
Compensation and benefits	430,289	373,527
General and administrative	106,060	75,867
Amortization	64,985	27,988
Depreciation	2,639	2,080
Change in contingent consideration	(14,042)	(65)
Total operating expenses	$589,931	$479,397
OPERATING INCOME	$100,235	$72,649
Interest expense, net	54,508	29,400
Income from equity method investment in related party	(4,937)	(5,606)
Other non-operating loss (income)	(377)	1,752
INCOME BEFORE INCOME TAXES	$51,041	$47,103
Income tax expense	55,430	6,426
NET INCOME (LOSS)	$(4,389)	$40,677
Net income attributable to non-controlling interests, net of tax	23,253	24,142
NET INCOME (LOSS) ATTRIBUTABLE TO RYAN SPECIALTY HOLDINGS, INC.	$(27,642)	$16,535
NET INCOME (LOSS) PER SHARE OF CLASS A COMMON STOCK:
Basic	$(0.22)	$0.14
Diluted	$(0.22)	$0.13
WEIGHTED-AVERAGE SHARES OF CLASS A COMMON STOCK OUTSTANDING:
Basic	125,419,656	117,811,805
Diluted	125,419,656	269,922,368

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.