Ridgepost Capital, Inc.

Listed Company

RPCCIK 0001841968NYSELarge AcceleratedInvestment AdviceDelawareFY ends Dec 31

Period

FY 2025

Revenue

$297.35M

Net Income

$19.50M

Total Assets

$928.30M

Equity

$403.46M

Shares Out

Op. Cash Flow

$22.99M

Business

P10, Inc. is a multi-asset class private market solutions provider that structures, manages and monitors portfolios of private market investments for institutional and private investors. It offers specialized investment vehicles and services including private equity, venture capital and private credit solutions, primary investment funds, secondaries, direct and co-investments, customized separate accounts, advisory services, portfolio monitoring and proprietary data analytics. Its key operating segments are Private Equity Solutions (PES), Venture Capital Solutions (VCS) and Private Credit Solutions (PCS), alongside advisory and platform vehicles. P10 serves a global investor base with a significant presence in North America, distributing products through its dedicated business development and investor relations teams across multiple offices.

Summary from filing dated 2025-02-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	297	296	242	198	151
Compensation and benefits	144	155	154	94	55
Professional fees	26	21	13	13	12
General, administrative and other	35	29	23	19	10
Contingent consideration expense	3	160,000	560,000	2	3
Amortization of intangibles	24	26	29	27	30
Strategic alliance expense	700,000	5	2	700,000	200,000
Total operating expenses	232	236	221	155	110
INCOME FROM OPERATIONS	66	61	21	43	40
Interest expense, net	−27	−26	−22	−10	−21
Other loss	−6	−7	−2	2	848,000
Total other (expense)	−33	−32	−24	−8	−37
Income before income taxes	32	28	−3	35	4
Income tax expense	−9	−9	−5	−6	7
NET INCOME/(LOSS)	23	20	−8	29	11
Less: net (income)/loss attributable to noncontrolling interests	−3	−967,000	639,000	−193,000	0
NET INCOME/(LOSS) ATTRIBUTABLE TO RIDGEPOST	20	19	−7	29	9
Basic earnings/(losses) per share	0.18	0.17	−0.06	0.25	0.13
Diluted earnings/(losses) per share	0.17	0.16	−0.06	0.24	0.08
Weighted average shares outstanding, basic	110	113	116	117	73
Weighted average shares outstanding, diluted	118	120	116	122	112

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	28	67	30	20	41
Restricted cash	734,000	660,000	2	9	3
Accounts receivable	27	32	21	17	3
Notes receivable	7	8	6	4	3
Due from related parties	100	82	58	—	—
Investment in unconsolidated subsidiaries	1	3	2	2	2
Prepaid expenses and other assets	19	5	15	5	5
Property and equipment, net	10	7	3	3	981,000
Right-of-use assets	23	18	17	—	—
Derivative assets	74,000	0	—	—	—
Contingent payments to customers	18	10	14	14	0
Deferred tax assets, net	26	34	38	41	45
Intangibles, net	107	98	123	152	129
Goodwill	559	506	506	507	419
Total assets	928	869	834	826	676
Accounts payable and accrued expenses	26	30	15	—	—
Accrued compensation and benefits	20	70	45	19	6
Due to related parties	4	3	2	—	—
Other liabilities	253,000	184,000	854,000	9	2
Contingent consideration	16	2	7	17	23
Accrued contingent liabilities	30	24	16	14	0
Deferred revenues	18	13	13	13	13
Lease liabilities	30	21	20	—	—
Deferred tax liabilities, net	8	0	—	—	—
Debt obligations	373	320	290	289	212
Total liabilities	525	482	409	392	281
COMMITMENTS AND CONTINGENCIES (NOTE 14)	—	—	—	—	—
Treasury stock	−124	−77	−18	−10	−273,000
Additional paid-in-capital	666	638	636	629	650
Accumulated deficit	−195	−214	−233	−226	−255
Accumulated other comprehensive income	4	0	—	—	—
Noncontrolling interests	52	40	40	41	0
Total equity	403	387	425	434	395
TOTAL LIABILITIES AND EQUITY	928	869	834	826	676

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	37	30	35	19	4
Depreciation expense	2	944,000	738,000	485,000	272,000
Amortization of debt issuance costs and debt discount	1	1	1	1	5
Income from unconsolidated subsidiaries	−947,000	−905,000	−161,000	−2	−1
Deferred tax expense	7	4	4	4	−8
Loss on extinguishment of debt	0	132,000	0	0	—
Loss on issuance of noncontrolling interests	7	0	0	—	—
Remeasurement of contra-revenue put option	2	10	0	—	—
Amortization of contingent payment to customers	907,000	2	2	676,000	0
Remeasurement of contingent consideration	3	160,000	560,000	2	—
Accounts receivable	7	−12	−4	−1	407,000
Due from related parties	−18	−24	−21	−24	−10
Prepaid expenses and other assets	−14	9	−10	3	−1
Right-of-use assets	5	4	3	3	2
Accounts payable and accrued expenses	−6	16	4	−101,000	—
Accrued compensation and benefits	−51	19	25	8	3
Due to related parties	311,000	1	−41,000	−101,000	58,000
Other liabilities	69,000	−670,000	−8	4	2
Derivative assets	−74,000	0	0	—	—
Contingent consideration	−2	−351,000	−3	0	0
Accrued contingent liabilities	−4	0	0	2	−3
Deferred revenues	4	−161,000	119,000	−302,000	3
Lease liabilities	−2	−4	−2	−2	−2
Net cash provided by operating activities	23	101	48	62	49
Acquisitions, net of cash acquired	−40	0	0	−96	−45
Purchase of intangible assets	−17,000	0	−14,000	−36,000	−30,000
Funding of notes receivable	−1	−2	−2	−2	−3
Proceeds from notes receivable	2	53,000	15,000	7,000	0
Investments in unconsolidated subsidiaries	−496,000	−45,000	−3,000	0	−3
Distributions from investments in unconsolidated subsidiaries	3	757,000	747,000	1	4
Software capitalization	−226,000	−358,000	−271,000	−138,000	0
Purchases of property and equipment	−5	−4	−1	−1	−129,000
Net cash used in investing activities	−43	−6	−2	−99	−47
Borrowings on debt obligations	103	387	62	121	253
Repayments on debt obligations	−51	−357	−63	−43	−295
Cash exercise of stock options	0	898,000	0	0	—
Repurchase of Class A common stock for employee tax withholding	−9	−9	−9	−454,000	0
Payment of contingent consideration	0	−4	−8	−7	−727,000
Dividends paid	−16	−15	−15	−11	0
Issuance of noncontrolling interests	3	0	0	0	0
Distributions to non-controlling interests	−2	−786,000	−574,000	0	0
Debt issuance costs	0	−2	0	−2	−4
Net cash used in financing activities	−20	−59	−43	23	29
Effect of foreign currency exchange rate changes on cash and cash equivalents	205,000	0	0	—	—
Net change in cash, cash equivalents and restricted cash	−39	36	3	—	—
Cash paid for interest	27	22	20	7	19
Net cash paid for income taxes	3	3	2	2	5
Additions to right-of-use assets	10	4	4	4	10
Additions to lease liabilities	10	4	4	5	10
Loss on issuance of noncontrolling interests	7	0	0	—	—

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