NASDAQ: PWP
Perella Weinberg PartnersCIK 0001777835 · SIC 6199 · Finance Services
Every 8-K is open in full. Other 10-Ks and 10-Qs show a 3-bullet preview. A free account reads 3 more full reports a month. Generating a report requires a verified account.
Sign up freeWant to see a complete report first? Today's free report (HPQ 10-Q) is open in full — no account needed.
PWP Q2 2026: revenue $156.5M, net income $5.3M. Operating income falls 43.5% on restructuring costs; litigation recovery
5 material changes detected. Sign up free to read the summary.
Perella Weinberg reports Q2 revenues up 1% to $157M, announces $22M restructuring
4 material changes detected. Sign up free to read the summary.
Partner
Trade PWP commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
Perella Weinberg stockholders re-elect three directors, ratify Ernst & Young as auditor
2 material changes detected. Sign up free to read the summary.
Perella Weinberg issues 1.9M Class A shares in partnership unit exchange
3 material changes detected. Sign up free to read the summary.
PWP Q1 revenues plunge 30% to $148.9M on client losses; operating loss
5 material changes detected. Sign up free to read the summary.
PWP reports Q1 2026 earnings; CFO Gottschalk adds COO role in leadership consolidation
3 material changes detected. Sign up free to read the summary.
Perella Weinberg to issue up to 3.4M shares for UK partnership acquisition
3 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Latest financial statements
From 10-Q filed Jul 31, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(Dollars in Thousands, Except Per Share Amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | 156,525 | 155,267 | 305,442 | 367,098 |
| Expenses | ||||
| Compensation and benefits | 79,616 | 80,280 | 170,891 | 203,279 |
| Equity-based compensation | 36,278 | 28,034 | 67,063 | 54,279 |
| Total compensation and benefits | 115,894 | 108,314 | 237,954 | 257,558 |
| Professional fees | 4,589 | 6,899 | 12,501 | 26,095 |
| Technology and infrastructure | 9,834 | 9,237 | 19,814 | 18,526 |
| Rent and occupancy | 5,933 | 6,596 | 11,805 | 12,922 |
| Travel and related expenses | 5,578 | 5,329 | 11,506 | 10,973 |
| General, administrative and other expenses | 3,815 | 4,892 | 8,050 | 10,355 |
| Depreciation and amortization | 5,827 | 5,052 | 11,658 | 10,053 |
| Total expenses | 151,470 | 146,319 | 313,288 | 346,482 |
| Operating income (loss) | 5,055 | 8,948 | (7,846) | 20,616 |
| Non-operating income (expenses) | ||||
| Other income (expense) | 1,029 | (2,700) | 3,288 | (2,469) |
| Total non-operating income (expenses) | 1,029 | (2,700) | 3,288 | (2,469) |
| Income (loss) before income taxes | 6,084 | 6,248 | (4,558) | 18,147 |
| Income tax expense (benefit) | (247) | 1,980 | (10,144) | (7,494) |
| Net income (loss) | 6,331 | 4,268 | 5,586 | 25,641 |
| Less: Net income (loss) attributable to non-controlling interests | 1,027 | 1,530 | (1,205) | 5,564 |
| Net income (loss) attributable to Perella Weinberg Partners | 5,304 | 2,738 | 6,791 | 20,077 |
| Net income (loss) per share attributable to Class A common shareholders | ||||
| Basic | 0.07 | 0.04 | 0.09 | 0.32 |
| Diluted | 0.06 | 0.04 | 0.08 | 0.29 |
| Weighted-average shares of Class A common stock outstanding | ||||
| Basic | 74,162,048 | 63,064,731 | 72,290,670 | 62,604,779 |
| Diluted | 101,732,555 | 98,831,307 | 101,897,486 | 74,555,206 |
Condensed Consolidated Statements of Financial Condition (Unaudited)
(Dollars in Thousands, Except Per Share and Per Unit Amounts)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | 115,847 | 255,906 |
| Restricted cash | 1,123 | 1,144 |
| Accounts receivable, net of allowance | 36,234 | 62,689 |
| Due from related parties | 418 | 626 |
| Fixed assets, net of accumulated depreciation and amortization | 72,566 | 77,206 |
| Intangible assets, net of accumulated amortization | 8,017 | 12,523 |
| Goodwill | 72,691 | 72,691 |
| Prepaid expenses and other assets | 50,450 | 46,776 |
| Right-of-use lease assets | 133,198 | 138,495 |
| Deferred tax assets, net | 154,421 | 129,581 |
| Total assets | 644,965 | 797,637 |
| Liabilities, Redeemable Non-Controlling Interests, and Equity | ||
| Accrued compensation and benefits | 54,934 | 210,268 |
| Accounts payable, accrued expenses and other liabilities | 40,775 | 47,102 |
| Lease liabilities | 179,279 | 186,066 |
| Amount due pursuant to tax receivable agreement | 105,625 | 93,461 |
| Total liabilities | 380,613 | 536,897 |
| Commitments and Contingencies (Note 16) | ||
| Redeemable non-controlling interests (20,018,315 units at redemption value of $15.49 per unit as of June 30, 2026; 22,139,506 units at redemption value of $17.53 per unit as of December 31, 2025) | 310,142 | 388,099 |
| Equity | ||
| Class A common stock, par value $0.0001 per share (1,500,000,000 shares authorized, 87,839,777 issued and 73,766,370 outstanding at June 30, 2026; 1,500,000,000 shares authorized, 81,308,801 issued and 66,739,647 outstanding at December 31, 2025) | 9 | 8 |
| Class B common stock, par value $0.0001 per share (600,000,000 shares authorized, 20,018,315 issued and outstanding at June 30, 2026; 600,000,000 shares authorized, 22,139,506 issued and outstanding at December 31, 2025) | 2 | 2 |
| Preferred stock, par value $0.0001 per share (100,000,000 shares authorized, no shares issued and outstanding at June 30, 2026 and December 31, 2025) | — | — |
| Additional paid-in-capital | 229,449 | 144,197 |
| Retained earnings (accumulated deficit) | (136,635) | (130,596) |
| Accumulated other comprehensive income (loss) | (3,958) | (2,521) |
| Treasury stock, at cost (14,073,407 and 14,569,154 shares of Class A common stock at June 30, 2026 and December 31, 2025, respectively) | (134,657) | (138,449) |
| Total equity | (45,790) | (127,359) |
| Total liabilities, redeemable non-controlling interests, and equity | 644,965 | 797,637 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Dollars in Thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss) | 5,586 | 25,641 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Equity-based awards vesting expense | 67,438 | 54,618 |
| Depreciation and amortization | 11,658 | 10,053 |
| Foreign currency revaluation | 1,223 | 2,760 |
| Non-cash operating lease expense | 5,546 | 5,065 |
| Deferred taxes | (9,969) | (9,146) |
| Other | (126) | 3,327 |
| Decrease (increase) in operating assets: | ||
| Accounts receivable, net of allowance | 26,309 | 25,847 |
| Prepaid expenses and other assets | (3,622) | (5,738) |
| Increase (decrease) in operating liabilities: | ||
| Accrued compensation and benefits | (155,017) | (222,375) |
| Accounts payable, accrued expenses and other liabilities | (2,963) | (5,309) |
| Lease liabilities | (6,946) | (5,137) |
| Net cash provided by (used in) operating activities | (60,883) | (120,394) |
| Cash flows from investing activities | ||
| Purchases of fixed assets | (3,720) | (1,831) |
| Maturities of investments in short-term marketable debt securities | — | 74,911 |
| Net cash provided by (used in) investing activities | (3,720) | 73,080 |
| Cash flows from financing activities | ||
| Exchange of PWP OpCo Units and corresponding Class B common stock for cash | — | (28,258) |
| Withholding tax payments for vested PWP Incentive Plan Awards | (55,595) | (71,965) |
| Distributions to partners | (2,202) | — |
| Dividends paid on Class A and Class B common stock | (14,885) | (12,748) |
| Treasury stock purchases | — | (31,748) |
| Net cash provided by (used in) financing activities | (72,682) | (144,719) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (2,795) | 5,452 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (140,080) | (186,581) |
| Cash, cash equivalents and restricted cash, beginning of period | 257,050 | 332,771 |
| Cash, cash equivalents and restricted cash, end of period | 116,970 | 146,190 |
| Supplemental disclosure of non-cash activities | ||
| Accrued dividends and dividend equivalent units on unvested PWP Incentive Plan Awards | 2,637 | 2,928 |
| Non-cash paydown of partner loans | — | 534 |
| Deferred tax effect resulting from changes in ownership and exchanges of PWP OpCo Units, net of amounts payable under tax receivable agreement | 2,797 | 2,584 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for income taxes | 1,645 | 9,243 |
Amounts as printed on the EDGAR/iXBRL face — (Dollars in Thousands, Except Per Share Amounts); (Dollars in Thousands, Except Per Share and Per Unit Amounts); (Dollars in Thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗