Business Information

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Business Information

Note 18 — Business Information

The Company’s activities as an investment banking firm constitute a single business segment, with substantially all revenues generated from advisory services, which includes engagements relating to mergers and acquisitions, financing advisory and restructuring, and private capital advisory services.

The Company principally earns its revenues from advisory fees upon the successful completion of the client’s transaction or restructuring. In 2022 and 2021, there were no clients that accounted for more than 10% of total revenues. In 2020, there was one client that accounted for approximately 14% of revenues.

Since the financial markets are global in nature, the Company generally manages its business based on the operating results of the enterprise taken as whole, not by geographic region. For reporting purposes, the geographic regions are the North America, Europe, and the rest of the world, which are the locations where the Company retains substantially all of its employees.

The following table presents information about the Company by geographic region, after elimination of all significant inter-company accounts and transactions:

	As of or for the Years Ended December 31,
	2022		2021		2020
	(in thousands)
Revenues
North America	$	123,784	$	204,989	$	167,038
Europe	101,957		70,466		127,631
Rest of World	32,713		42,084		17,009
Total	$	258,454	$	317,539	$	311,678
Operating income (loss)
North America	$	(20,425)	$	65,618	$	(5,238)
Europe	34,510		(9,252)		62,603
Rest of World	6,485		14,891		(2,117)
Total	$	20,570	$	71,257	$	55,248
Total assets
North America	$	190,497	$	247,383	$	297,579
Europe	211,884		153,716		138,632
Rest of World	150,408		167,533		149,588
Total	$	552,789	$	568,632	$	585,799

The Company's revenues are based on the country where the services were derived. For the years ended December 31, 2022, 2021 and 2020, the Company generated 41%, 59%, and 52%, respectively, of its total revenues from the United States and 25%, 13% and 36% respectively, of its total revenues from the United Kingdom. No other country had revenues which individually represented more than 10% of the Company’s total revenues during the years ended December 31, 2022, 2021 and 2020, respectively.

Included in the Company’s total assets are long-lived assets, excluding deferred tax assets, lease right-of-use assets and intangible assets, located in the United States of $30.3 million and $29.1 million at December 31, 2022 and 2021, respectively, and assets located in the United Kingdom of $6.3 million at December 31, 2022. No other country had long-lived assets, which individually represented more than 10% of the Company’s total long-lived assets at December 31, 2022 and 2021.