SEGMENT REPORTING

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

Bridge operates as one reportable and operating segment, which is an alternative investment manager. Refer to Note 3, “Revenues,” for disclosure of the Company’s revenue generated from investment management product offerings. Primarily all of the Company’s revenues are generated in the U.S.

The Company’s CODM is its executive chairman. The CODM utilizes a consolidated approach to regularly review and assess financial performance and to allocate resources, and primarily uses consolidated net income with certain non-GAAP measures as secondary metrics to measure profitability. The CODM is regularly provided with the consolidated expenses as noted on the face of the consolidated statement of operations, with certain significant expenses identified below (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Total Revenues(1)	$	96,539	$	104,760	$	192,844	$	207,549
Total Investment Income (Loss)(1)	6,338		25,596		(1,360)		(23,106)
Less:
Employee compensation and benefits	61,472		62,681		126,332		125,521
Performance allocations compensation, realized	3,396		3,748		6,223		11,156
Performance allocations compensation, unrealized	404		(1,150)		1,494		2,027
General and administrative expenses	18,232		9,397		46,344		20,747
Interest expense	6,232		6,846		12,454		14,210
Other segment items(2)	10,349		21,340		33,447		20,087
Net income (loss)	$	2,792	$	27,494	$	(34,810)	$	(9,305)

(1)     The reconciliation of Total Revenues and Total Investment Income (Loss) are presented on the consolidated statement of operations for the periods then ended.

(2)    The other segment items category includes: loss and loss adjustment expenses; third party operating expenses; depreciation and amortization expense; realized and unrealized gains (losses), net; interest income; income tax provision. These amounts are separately presented on the consolidated statement of operations for the periods then ended.

The CODM is not provided segment asset information at a more disaggregated level than that included in the consolidated balance sheet.