14.
SEGMENT INFORMATION

The Company operates a single segment advisory business that offers clients, including corporations, financial sponsors, governments and sovereign wealth funds, a range of products with expertise across all major industries in mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, private fundraising and secondary transactions, and other corporate finance matters.

 

Prior to October 1, 2025, the Company’s Chief Operating Decision Maker (“CODM”) was Kenneth Moelis, Chief Executive Officer. As of October 1, 2025, Navid Mahmoodzadegan, Co-Founder and former Co-President, succeeded Kenneth Moelis as Chief Executive Officer and became the Company's CODM. The CODM is regularly provided, on a consolidated basis, the advisory segment’s significant expenses, which are the same as those presented in the Company’s consolidated statements of operations. The primary measure of the advisory segment’s profit or loss regularly evaluated by the CODM is consolidated net income or net loss. The advisory segment’s total assets are presented on the Company’s consolidated statements of financial position and the segment’s accounting policies are disclosed in Note 2: Summary of Significant Accounting Policies. Since the financial markets are global in nature, the CODM generally manages the business based on the operating results of the enterprise holistically, not by geographic region or product type. The information reviewed by the CODM is used to make strategic decisions about the Company’s operations, growth strategies, and capital allocation.

 

Geographic Information

The following table disaggregates the revenues and assets based on the location of the office that generates the revenues or holds the assets, and therefore may not be reflective of the geography in which our clients are located. No client accounted for more than 10% of revenues for the years ended December 31, 2025, 2024 and 2023.

 

 

 

Year Ended December 31,

 

 

2025

 

2024

 

2023

Revenues:

 

 

 

 

 

 

 

 

 

United States

 

$

1,276,048

 

$

979,899

 

$

675,735

Europe

 

 

149,165

 

 

107,273

 

 

111,786

Rest of World

 

 

91,583

 

 

107,373

 

 

67,227

Total

 

$

1,516,796

 

$

1,194,545

 

$

854,748

 

 

December 31,

 

December 31,

 

2025

 

2024

Assets:

 

 

 

 

 

United States

$

1,433,317

 

$

1,169,236

Europe

 

149,263

 

 

65,380

Rest of World

 

158,105

 

 

144,320

Total

$

1,740,685

 

$

1,378,936

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 27, 2025
2023Feb 22, 2024
2022Feb 23, 2023
2021Feb 23, 2022
2020Feb 24, 2021
2019Feb 27, 2020
2018Feb 27, 2019
2017Feb 28, 2018
2016Feb 28, 2017
2015Mar 14, 2016

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.