PX Earnings Prediction
The chart below shows how PX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, PX sees a +1.69% change in stock price 10 days leading up to the earnings, and a +1.49% change 10 days following the report. On the earnings day itself, the stock moves by -0.10%. This data can give you a slight idea of what to expect for the next quarter's release.
PX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
74.24M
25.96%
4.46%
Gross Margin
--
--
--
Operating Margin
11.89%
1729.23%
-49.81%
Net Margin
1.80%
112.12%
-82.69%
EPS
0.01
114.29%
-83.33%
No Data Available
PX Earnings Analysis
P10, Inc. Corporation (PX.N) Earnings Conference Call
Positive
Fundraising Milestone Achieved: 1. Record Fundraising: In Q3 2024, P10 raised and deployed $1.4 billion in gross new fee-paying AUM, contributing to a total of $2.9 billion raised year-to-date, surpassing the full-year guidance of $2.5 billion.
Impressive Revenue Surge: 2. Strong Revenue Growth: The company reported revenue of $74 million for Q3 2024, reflecting a 26% year-over-year increase, with fee-related revenue also increasing by 26% to $73 million.
Fee-Related Earnings Surge: 3. Increased Fee-Related Earnings: Fee-related earnings (FRE) reached approximately $35 million in Q3 2024, marking a 19% increase from the previous year, resulting in an FRE margin of 48%.
Share Repurchase Activity: 4. Share Repurchase Program: P10 repurchased 609,300 shares at an average price of $10.15 per share in Q3 2024, bringing total repurchases for the year to about $5.8 million, demonstrating confidence in the company's stock value.
Fee-Paying AUM Growth: 5. Growing Fee-Paying AUM: As of the end of Q3 2024, fee-paying assets under management increased to $24.9 billion, a 10% year-over-year growth, indicating strong demand and effective capital deployment strategies.
Negative
Fundraising and Asset Instability: 1. High Step-Downs and Expirations: In Q3, $1.4 billion in fundraising was offset by $285 million in step-downs and expirations, primarily from private credit solutions, indicating potential instability in asset retention.
Rising Operating Expenses: 2. Increased Operating Expenses: Operating expenses rose to $65.4 million, a 12% increase year-over-year, driven by compensation and professional fees related to the Qualitas Funds transaction and recent debt refinancing, suggesting rising cost pressures.
Liquidity Concerns: 3. Low Cash Reserves: Cash and cash equivalents at the end of Q3 were only $61 million, raising concerns about liquidity given the outstanding term loan balance of $325 million and the need for operational flexibility.
Share Repurchase Limitations: 4. Limited Share Repurchase Activity: The company repurchased fewer shares in Q3 compared to previous quarters due to a blackout period related to the Qualitas Funds transaction, indicating potential limitations in returning capital to shareholders.
Board Governance Concerns: 5. Board Departures: The departure of co-founders Robert Alpert and Clark Webb from the board raises governance concerns, as their contributions were significant to the company's past performance and strategic direction.
PX FAQs
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PX Earning Call Sentiment
P10, Inc. (PX) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
PX.N
-1.86%Positive
The earnings call summary shows strong financial performance with a 26% YoY revenue growth and a significant increase in net income and EPS. Share repurchases and dividend declarations are positive signals for shareholder returns. Despite some concerns about operational and acquisition risks, the Q&A section reveals a stable outlook with opportunities for growth, particularly with the acquisition of Qualitas Funds. Overall, the positive financial results and strategic initiatives outweigh the risks, suggesting a positive stock price movement in the near term.
