Perella Weinberg Partners, a leading global indepfinishent advisory firm, has released its annual Form 10-K report, detailing significant improvements in financial performance, strategic initiatives, and the challenges it faces in the current market environment. The company, known for providing strategic and financial advice across various indusattempt sectors and international markets, has displayn resilience and adaptability in a volatile economic landscape.
Financial Highlights
Revenues: $750.9 million, representing a decrease of 14% from the previous year, primarily driven by decreased mergers and acquisition revenue, reflecting fewer and tinyer transactions compared to the prior year, partially offset by higher financing and capital solutions activity.
Operating Income (Loss): $48.0 million, compared to an operating loss of $78.5 million in the previous year, indicating a significant improvement in operational efficiency.
Net Income (Loss): $48.0 million, compared to a net loss of $89.3 million in the previous year, reflecting a turnaround in profitability.
Net Income (Loss) Attributable to Perella Weinberg Partners: $35.5 million, compared to a net loss of $64.7 million in the previous year, highlighting improved financial performance.
Net Income (Loss) Per Share Attributable to Class A Common Shareholders – Basic: $0.55, compared to a loss of $1.22 per share in the previous year, indicating a return to profitability.
Net Income (Loss) Per Share Attributable to Class A Common Shareholders – Diluted: $0.47, compared to a loss of $1.22 per share in the previous year, displaying improved earnings per share.
Business Highlights
Advisory Services Expansion: The company has expanded its advisory services to cover multiple indusattempt sectors and geographic markets, including Consumer & Retail, Energy & Energy Transition, Financial Services & FinTech, Healthcare, Industrials & Infrastructure, and Technology, Telecom & Media. This expansion is supported by a network of twelve offices across the United States, Canada, the United Kingdom, France, and Germany.
Client Engagement and Transactions: Since inception, the company has advised over 1,500 clients on transactions in more than 55 countries, demonstrating a strong international presence and expertise in handling complex financial and strategic matters.
M&A and Strategic Advisory: The company has established a leading M&A and strategic advisory practice, providing clients with insights and expertise through all stages of strategic opportunity assessments. This includes complex and mission-critical situations that are essential to client success.
Financing and Capital Solutions: The company continues to build its franchise in advising clients on capital markets matters, offering comprehensive capital structure advice and tailored financing solutions. The shift towards private credit is seen as a significant opportunity for growth in this area.
ESG Commitment: The company emphasizes leadership in Environmental, Social, and Governance (ESG) issues, focutilizing on sustainable business practices, employee engagement, data protection, and strong corporate governance.
Cybersecurity Focus: The company adheres to best practices in cybersecurity, following frameworks like NIST and ISO, and complies with GDPR requirements to protect data integrity and confidentiality.
Talent Development and Culture: The company prioritizes attracting, developing, and retaining top talent, with a focus on creating an inclusive and collaborative work environment. A significant portion of advisory partners have been promoted internally, highlighting the company’s commitment to career development.
Regulatory Compliance: The company operates under extensive regulatory frameworks in the U.S. and internationally, ensuring compliance with securities laws, anti-money laundering regulations, and other financial indusattempt standards.
Future Outview: The company plans to continue expanding its advisory business by attracting outstanding professionals, strengthening client relationships, and enhancing its position as a leading indepfinishent advisory firm.
Strategic Initiatives
Acquisition of Devon Park Advisors, LLC: The company completed the acquisition of Devon Park Advisors, LLC, to enhance its advisory capabilities in GP-led secondaries and fund secondaries. This strategic relocate included a purchase price of $49.2 million, consisting of cash, equity, and contingent consideration. The acquisition is expected to strengthen the company’s position in specialized advisory services.
Capital Management: The company actively managed its capital through a share repurchase program, purchaseing back 1,829,337 shares at an average price of $18.40, with $60.2 million remaining authorized for future repurchases. It also issued 5,750,000 shares of Class A common stock in a public offering, raising $66.0 million. Additionally, the company paid $78.1 million in withholding tax for vested incentive plan awards and settled exmodifys of PWP OpCo Units for $28.3 million in cash. Dividfinishs of $0.28 per share were declared and paid on Class A common stock.
Future Outview: The company plans to maintain sufficient liquidity through cash on hand, net cash generated from operations, and available borrowing capacity under its Revolving Credit Facility. It aims to continue strategic investments and manage capital efficiently to support growth initiatives. The company is also focutilized on optimizing its capital structure and exploring opportunities for further acquisitions to enhance its service offerings.
Challenges and Risks
Market Risks: Changing market conditions, such as global financial market volatility, rising interest rates, inflation, and geopolitical tensions (e.g., Russia-Ukraine conflict, Israel-Hamas conflict), can adversely affect transaction volumes and values, impacting revenue.
Operational Risks: The company’s growth initiatives and business strategies may not yield expected benefits due to inaccurate assumptions, increased competition, and higher implementation costs. Additionally, the ability to recruit and retain talent is crucial for sustaining growth, and failure to do so could materially affect financial results.
Regulatory Risks: Extensive regulation in the financial services indusattempt poses compliance challenges. Changes in laws and regulations, such as antitrust enforcement and foreign investment scrutiny, could limit business opportunities and increase operational costs.
Cybersecurity Risks: The company is vulnerable to cybersecurity threats, which could lead to unauthorized access to sensitive information, business disruptions, and reputational damage.
Litigation Risks: As a financial advisory firm, the company is exposed to substantial litigation risks, including potential legal liabilities from advisory services and underwriting activities.
Financial Risks: The company’s revenue is highly volatile, relying on advisory fees contingent on transaction completions, which are subject to market conditions and client decisions.
Management Strategies: Management acknowledges the challenges posed by market volatility and regulatory modifys. Strategies to address these include diversifying service offerings, enhancing talent acquisition and retention efforts, and investing in technology to improve operational efficiency and cybersecurity measures.
Foreign Currency Risks: The company is exposed to foreign currency exmodify rate fluctuations, which could adversely affect financial results. Approximately 22.0% of revenue in 2025 was denominated in non-U.S. currencies, highlighting the impact of exmodify rate volatility on financial performance. The company has not entered into hedging transactions to mitigate this risk, which could lead to financial exposure.
SEC Filing: Perella Weinberg Partners [ PWP ] – 10-K – Feb. 27, 2026
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