Moelis & Co-A 2026年季度报告

FORM 10-Q TABLE OF CONTENTS PagePart I. Financial InformationItem 1.Financial Statements3Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations27Item 3.Quantitative and Qualitative Disclosures About Market Risk37Item 4.Controls and Procedures37Part II. Other InformationItem 1.Legal Proceedings38Item 1A.Risk Factors38Item 2.Unregistered Sales of Equity Securities and Use of Proceeds38Item 3.Defaults Upon Senior Securities39Item 4.Mine Safety Disclosures39Item 5.Other Information39Item 6.Exhibits40Signatures41 PART I. FINANCIAL INFORMATION Condensed Consolidated Financial Statements (Unaudited) PageCondensed Consolidated Statements of Financial Condition as of March 31, 2026 and December 31, 20254Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 20255Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 2026 and20256Condensed Consolidated Statements of Cash Flows for the three months endedMarch 31, 2026 and 20257Condensed Consolidated Statements of Changes in Equity for the three months ended March 31, 2026 and 20258Notes to Condensed Consolidated Financial Statements9 Moelis & Company Condensed Consolidated Statements of Financial Condition (Unaudited) (dollars in thousands, except per share amounts) March 31,December 31,20262025AssetsCash and cash equivalents$152,944$508,595Restricted cash794770Receivables:Accounts receivable, net of allowance for credit losses of $2,968and $2,125as ofMarch 31, 2026 and December 31, 2025, respectively97,94582,188Accrued and other receivables27,34628,738Total receivables125,291110,926Deferred compensation57,95832,029Investments228,818369,072Right-of-use assets215,464216,865Equipment and leasehold improvements, net99,08489,787Deferred tax assets366,888370,685Prepaid expenses and other assets41,95341,956Total assets$1,289,194$1,740,685Liabilities and EquityCompensation payable$64,752$439,394Accounts payable, accrued expenses and other liabilities57,92843,630Amount due pursuant to tax receivable agreement269,344301,053Deferred revenue7,7749,076Lease liabilities267,177267,155Total liabilities666,9751,060,308Commitments and Contingencies (See Note 11)Class A common stock, par value $0.01per share (1,000,000,000sharesauthorized, 87,798,231issued and 74,374,014outstanding at March 31, 2026;1,000,000,000authorized, 84,935,154issued and 73,420,907outstanding atDecember 31, 2025)878849Class B common stock, par value $0.01per share (1,000,000,000sharesauthorized, 4,190,479issued and outstanding at March 31, 2026;1,000,000,000authorized, 4,191,326issued and outstanding at December 31,2025)4242Treasury stock, at cost; 13,424,217and 11,514,247shares at March 31, 2026 andDecember 31, 2025, respectively(653,562)(536,292)Additional paid-in-capital1,964,3301,912,193Retained earnings (accumulated deficit)(817,289)(801,234)Accumulated other comprehensive income (loss)(7,315)(7,119)Total Moelis & Company equity487,084568,439Noncontrolling interests135,135111,938Total equity622,219680,377Total liabilities and equity$1,289,194$1,740,685 Moelis & Company Condensed Consolidated Statements of Operations (Unaudited) (dollars in thousands, except per share amounts) Moelis & Company Condensed Consolidated Statements of Comprehensive Income (Unaudited) (dollars in thousands) Condensed Consolidated Statements of Cash Flows (Unaudited) (dollars in thousands) Moelis & Company Condensed Consolidated Statements of Changes in Equity (Unaudited) Moelis & Company Notes to the Condensed Consolidated Financial Statements (Unaudited) (dollars in thousands, except share amounts and where explicitly stated) 1.ORGANIZATION AND BASIS OF PRESENTATION Moelis & Company and its consolidated subsidiaries (the “Company,”“we,” “our,” or “us”) is a leading global investment bank, incorporated inDelaware. Prior to the Company’s Initial Public Offering (“IPO”), the businessoperated as a Delaware limited partnership that commenced operations during2007. Following the IPO, the operations are owned by Moelis & Company GroupLP (“Group LP”), a U.S. Delaware limited partnership, and Group LP is controlledby Moelis & Company. Moelis & Company’s shareholders are entitled to receivea portion of Group LP’s economics through their direct ownership interests inshares of Class A common stock of Moelis & Company. The noncontrollinginterest owners of Group LP (not Moelis & Company) receive economics of theoperations primarily through their ownership interests in Group LP partnershipunits. The Company’s activities as an investment banking advisory firmconstitute a single business segment offering clients, including corporations,financial sponsors and governments, a range of advisory services with expertiseacross all major industries in mergers and acquisitions, recapitalizations andrestructurings and other corporate finance matters. Basis of Presentation— The condensed consolidated financials