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P / W / P Perella Weinberg Partners Reports Second Quarter 2021 Results August 12 , 2021 • Second Quarter 2021 Revenues of $ 255.5 Million , Up 123 % from the Same Period of 2020 ; First Half 2021 Revenues of $ 425.3 Million , Up 105 % from the Same Period of 2020 • GAAP Operating Income Margin of 19.4 % for the Second Quarter 2021 and 18.2 % for the First Half 2021 ; Adjusted Operating Income Margin of 24.5 % for the Second Quarter 2021 and 23.2 % for the First Half 2021 • GAAP Net Income of $ 9.0 Million for the Second Quarter and $ 31.5 Million for the First Half 2021 ; Adjusted Net Income of $ 61.7 Million for the Second Quarter 2021 and $ 93.2 Million for the First Half 2021 • Year - to - Date have Added Three Partners from Internal Promotions and Another Six have Joined or Agreed to Join the Firm in 2021 , Further Strengthening Client Coverage Across Industries and Geographies • Closed Business Combination with FinTech Acquisition Corp. IV ( " FTIV " ) on June 24 , 2021 ( the " Business Combination " ) • As of August 12 , 2021 , Firm Listing Upgraded to NASDAQ Global Select Market Tier • Firm Exercised Contractual Repurchase Right of 1 Million Shares of Class A Common Stock Owned by FTIV's Sponsor at $ 12 Per Share • No Outstanding Indebtedness ; Maintains Strong Balance Sheet • Declared Quarterly Dividend of $ 0.07 Per Share -- NEW YORK , Aug. 12 , 2021 ( GLOBE NEWSWIRE ) Perella Weinberg Partners ( the " Firm " or " PWP " ) ( NASDAQ : PWP ) today reported financial results for the second quarter ended June 30 , 2021. The Firm reported record quarterly revenues of $ 255.5 million for the three months ended June 30 , 2021 , compared with $ 114.6 million for the three months ended June 30 , 2020. GAAP net income and adjusted net income were $ 9.0 million and $ 61.7 million , respectively , for the three months ended June 30 , 2021 , compared with GAAP net loss of ( $ 22.1 ) million and adjusted net income of $ 1.5 million for the three months ended June 30 , 2020. GAAP diluted earnings per Class A share was ( $ 0.32 ) for the three months ended June 30 , 2021 . First half 2021 revenues were a record $ 425.3 million , compared with $ 207.0 million for the first half of 2020. GAAP net income and adjusted net income were $ 31.5 million and $ 93.2 million for the six months ended June 30 , 2021 , respectively , compared with GAAP net loss of ( $ 26.2 ) million and adjusted net income of $ 6.2 million for the six months ended June 30 , 2020 , respectively . GAAP diluted earnings per Class A share was ( $ 0.32 ) for the six months ended June 30 , 2021. All net income prior to the closing of the Business Combination on June 24 , 2021 is allocated to GAAP net income attributable to non - controlling interests and excluded from the earnings per share calculation . " PWP delivered record results in the second quarter of 2021 as demand for advisory services remains elevated across our business . We continue to see high levels of activity across all service lines , sectors , and geographies driven by a further expansion of client coverage and a deepening of relationships , supported by our dedicated and collaborative team . In the quarter , PWP completed its transition to a public company , an important milestone in our firm's 15 - year history , and one which will help support future growth and development opportunities . We remain committed to providing trusted and high quality strategic and financial advice to our clients and delivering long - term value to our shareholders , " stated Peter Weinberg , Chief Executive Officer . * Throughout this release , adjusted figures represent non - GAAP information . See " Non - GAAP Financial Measures " and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable GAAP numbers . Selected Financial Data ( Unaudited ) ( Dollars in Thousands , Except Per Share Amounts ) U.S. GAAP As Adjusted Three Months Ended June 30 , Revenues Operating expenses : Total compensation and benefits Non - compensation expenses Operating income ( loss ) Total non - operating income ( expenses ) Income ( loss ) before provision for income taxes Income tax benefit ( expense ) Net income ( loss ) $ 2021 255,520 2020 2021 2020 $ 114,601 $ 255,520 $ 114,601 171,469 92,433 162,931 86,253 34,565 42,869 29,978 26,393 49,486 ( 20,701 ) 62,611 1,955 ( 39,965 ) ( 592 ) ( 527 ) 390 9,521 ( 21,293 ) 62,084 2,345 ( 521 ) ( 834 ) ( 370 ) ( 834 ) $ 9,000 $ ( 22,127 ) $ 61,714 $ 1,511 Net income ( loss ) attributable to non - controlling interests 21,499 Net income ( loss ) attributable to Perella Weinberg Partners $ ( 12,499 ) Net income ( loss ) per share attributable to Class A common shareholders ( 1 )