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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Revenues $ 665,494 $ 546,499
Expenses:    
Compensation and employee benefits 399,512 328,195
Equity-based compensation and allocations of net income to limited partnership units and FPUs 74,346 51,443
Total compensation and employee benefits 473,858 379,638
Operating, administrative and other 153,977 137,943
Fees to related parties 9,570 7,541
Depreciation and amortization 46,358 43,975
Total operating expenses 683,763 569,097
Other income (loss), net 750 (14)
Income (loss) from operations (17,519) (22,612)
Interest expense, net (8,483) (7,220)
Income (loss) before income taxes and noncontrolling interests (26,002) (29,832)
Benefit for income taxes (10,053) (3,516)
Consolidated net income (loss) (15,949) (26,316)
Less: Net income (loss) attributable to noncontrolling interests (7,183) (10,062)
Net income (loss) available to common stockholders (8,766) (16,254)
Basic earnings per share    
Net income (loss) available to common stockholders $ (8,766) $ (16,254)
Basic earnings per share (in dollars per share) $ (0.05) $ (0.09)
Basic weighted-average shares of common stock outstanding (in shares) 176,352 174,774
Fully diluted earnings per share    
Net income (loss) for fully diluted shares $ (8,766) $ (16,254)
Fully diluted earnings per share (in dollars per share) $ (0.05) $ (0.09)
Fully diluted weighted-average shares of common stock outstanding (in shares) 176,352 174,774
Management services, servicing fees and other    
Revenues:    
Revenues $ 283,893 $ 256,934
Leasing and other commissions    
Revenues:    
Revenues 208,074 158,799
Capital markets    
Revenues:    
Revenues $ 173,527 $ 130,766