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P / W / P Perella Weinberg Partners Reports Third Quarter 2021 Results November 4 , 2021 • Third Quarter 2021 Revenues of $ 177.4 Million , Up 44 % from the Same Period of 2020 ; Nine Months Ended September 30 , 2021 Revenues of $ 602.7 Million , Up 83 % from the Same Period of 2020 • GAAP Operating Income ( Loss ) Margin of ( 5.8 % ) for the Third Quarter 2021 and 11.1 % for the Nine Months Ended September 30 , 2021 ; Adjusted Operating Income Margin of 17.3 % for the Third Quarter 2021 and 21.5 % for the Nine Months Ended September 30 , 2021 • GAAP Net Income ( Loss ) of ( $ 9.5 ) Million for the Third Quarter and $ 22.0 Million for the Nine Months Ended September 30 , 2021 ; Adjusted Net Income ( Loss ) of $ 28.9 Million for the Third Quarter 2021 and $ 122.2 Million for the Nine Months Ended September 30 , 2021 • Year - to - Date have Added Nine Advisory Partners , with an Additional Partner Joining the Firm Prior to Year End 2021 , Further Expanding Coverage and Expertise from a Sector , Product , and Geography Standpoint and Supporting Strategic Growth • No Outstanding Indebtedness ; Maintains Strong Balance Sheet • Declared Quarterly Dividend of $ 0.07 Per Share NEW YORK , Nov. 04 , 2021 ( GLOBE NEWSWIRE ) -- Perella Weinberg Partners ( the “ Firm " or " PWP " ) ( NASDAQ : PWP ) today reported financial results for the third quarter ended September 30 , 2021. The Firm reported third quarter revenues of $ 177.4 million for the three months ended September 30 , 2021 , a third quarter record for the firm , compared with $ 122.8 million for the three months ended September 30 , 2020. GAAP net loss and adjusted net income were ( $ 9.5 ) million and $ 28.9 million , respectively , for the three months ended September 30 , 2021 , compared with GAAP net loss of ( $ 1.1 ) million and adjusted net income of $ 7.7 million for the three months ended September 30 , 2020. GAAP diluted net income ( loss ) per Class A share and adjusted diluted if - converted net income per Class A share were $ ( 0.09 ) and $ 0.26 , respectively , for the three months ended September 30 , 2021 . For the nine months ended September 30 , 2021 , revenues were $ 602.7 million for the respective period , compared with $ 329.8 million for the nine months ended 2020. GAAP net income and adjusted net income were $ 22.0 million and $ 122.2 million for the nine months ended September 30 , 2021 , respectively , compared with GAAP net loss and adjusted net income of ( $ 27.3 ) million and $ 13.9 million for the nine months ended September 30 , 2020 , respectively . GAAP diluted earnings ( loss ) per Class A share was $ ( 0.40 ) for the nine months ended September 30 , 2021. All net income prior to the closing of the business combination with FinTech Acquisition Corp. IV on June 24 , 2021 ( the " Business Combination " ) is allocated to GAAP net income attributable to non - controlling interests and excluded from the earnings per share calculation . Adjusted net income per share has not been presented for the nine months ended September 30 , 2021 as it is not meaningful or comparative to GAAP diluted earnings per share , as it excludes activity prior to the Business Combination on June 24 , 2021 . " PWP experienced another strong quarter as advisory services remain in high demand and our strong brand presence in the industry continues to attract clients . The level of strategic dialogue and transaction flow , especially in M & A advice , remains very active across our platform and we notably generated record results in our European business for the year - to - date period . Notwithstanding headwinds in the restructuring market , we remain well - positioned through our balanced and diversified platform to continue to take advantage of the currently favorable environment . We are investing in the business to support future growth and are focused on further strengthening our exceptional partner base with individuals who will help expand our coverage and expertise , as well as fit our culture . 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 . Selected Financial Data ( Unaudited ) ( Dollars in Thousands , Except Per Share Amounts ) U.S. GAAP As Adjusted 2021 Three Months Ended September 30 , 2020 2021 2020 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 ) $ 177,427 $ 122,844 $ 177,427 $ 122,844 151,372 90,905 113,524 84,785 36,382 30,407 33,127 28,762 ( 10,327 ) 1,532 30,776 9,297 1,015 ( 1,627 ) 4,058 ( 622 ( 9,312 ) ( 95 ) 34,834 8,675 ( 150 ) ( 974 ) ( 5,887 ) ( 974 ) $ ( 9,462 ) $ ( 1,069 $ 28,947 $ 7,701 Net income ( loss ) attributable to non - controlling interests ( 12,938 Net income ( loss ) attributable to Perella Weinberg Partners $ 3,476