Perella Weinberg Partners $(PWP)$ reported financial results for the full year and fourth quarter ended December 31, 2025. Full-year revenues totaled USD 751 million, down 14 percent, while fourth-quarter revenues were USD 219 million, a decrease of 3 percent. GAAP pre-tax income for the year was USD 52 million, with adjusted pre-tax income at USD 82 million. For the fourth quarter, GAAP pre-tax income was USD 22 million and adjusted pre-tax income reached USD 29 million. GAAP diluted earnings per share $(EPS)$ for the full year was USD 0.47, with adjusted EPS at USD 0.68. For the fourth quarter, GAAP diluted EPS was USD 0.10 and adjusted EPS was USD 0.17. During 2025, PWP added twelve partners and eleven managing directors, and acquired Devon Park Advisors, establishing a secondaries advisory capability. The firm reported a strong balance sheet at year-end with USD 256 million in cash and no debt.

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