Filing Flows › Perella Weinberg Partners (PWP) › Q2 2025
Perella Weinberg Partners (PWP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Perella Weinberg Partners (PWP) reported revenue of $155M for the second quarter 2025 (Q2 2025), -43% from a year earlier and -27% from the quarter before. Operating margin was 5.8%, net earnings $2.7M (1.8% of revenue).
Perella Weinberg Partners, Q2 2025: revenue $155M (-43% year over year), operating margin 5.8%, net earnings $2.7M, operating cash flow $56.1M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $155M | -27% | -43% |
| Operating profit | $8.9M | -23% | — |
| Net earnings | $2.7M | -84% | — |
| Operating cash flow | $56.1M | — | -38% |
| Free cash flow | $55.3M | — | -34% |
What changed
Revenue was $155.3M in Q2 2025, down 43% year over year and down 27% from the previous quarter.
Operating profit was $8.9M, a 5.8% margin (up 36.0 points year over year). Total costs fell 59% while revenue fell 43%. Net earnings were $2.7M. The effective tax rate was 31.7%.
Operating cash flow was $56.1M (down 38% year over year), 1315% of net income including minority interests. Non-cash charges added back $5.1M of depreciation and amortization and $28.2M of share-based compensation. Working capital and other items added $18.6M. Capital expenditures of $787K left free cash flow of $55.3M.
Questions
What was Perella Weinberg Partners' revenue in the second quarter 2025?
Perella Weinberg Partners (PWP) reported revenue of $155M for the second quarter 2025 (Q2 2025), -43% from a year earlier and -27% from the quarter before.
Was Perella Weinberg Partners profitable in the second quarter 2025?
Operating profit was $8.9M (5.8% of revenue) and net earnings $2.7M.