Perella Weinberg Partners reported third quarter 2025 revenues of $164.6 million, a decrease of 41% from $278.2 million in the same period of 2024, primarily due to fewer mergers and acquisitions closings. For the nine months ended September 30, 2025, revenues were $531.7 million, down 18% from $652.4 million a year earlier. Adjusted pre-tax income for the third quarter was $20 million, with GAAP pre-tax income at $12 million. Adjusted earnings per share were $0.13, while GAAP diluted earnings per share were $0.08. For the nine-month period, adjusted pre-tax income was $53 million and GAAP pre-tax income was $30 million, with adjusted earnings per share at $0.51 and GAAP diluted earnings per share at $0.37. The firm added twelve partners and nine managing directors year-to-date, closed the acquisition of Devon Park Advisors, and ended the quarter with $185.5 million in cash and no debt.