Company: DBRG
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001679688-25-000043
Chunk: 106

Company: DigitalBridge Group, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 2
Chunk 106
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4,185)(14,120)9,935 Net income (loss)(14,855)(30,766)15,911 Net income (loss) attributable to noncontrolling interests:Redeemable noncontrolling interests(748)733 (1,481)Investment entities(27,882)1,467 (29,349)Operating Company(7)(3,338)3,331 Net income (loss) attributable to DigitalBridge Group, Inc.13,782 (29,628)43,410 Preferred stock dividends14,660 14,660 — Net income (loss) attributable to common stockholders$(878)$(44,288)43,410 

36

Revenues

Total revenues were $45.4 million in 2025 and $74.4 million in 2024. The decrease of $28.9 million was driven by a significantly higher reversal of unrealized carried interest in 2025, partially offset by a $17.2 million increase in fee revenue. 

The key components of revenue are discussed in more detail below. 

Fee Revenue

Three Months Ended March 31,(In thousands)20252024ChangeManagement fees $89,860 $71,844 $18,016 Incentive fees6 881 (875)Other fee revenue273 230 43 $90,139 $72,955 17,184 

Fee revenue increased $17.2 million or 24% to $90.1 million. The increase is attributable to higher capital raised for our third flagship fund, which contributed an additional $20.6 million of management fees, including $10.7 million of catch-up fees. This was partially offset by $4.0 million of lower fees from an InfraBridge fund following a change in fee basis from committed to invested capital effective December 2024.  

Year over year, FEEUM increased $4.8 billion or 15% to $37.3 billion at March 31, 2025 from $32.5 billion at March 31, 2024. 

Carried Interest Allocation 

Three Months Ended March 31,(In thousands)20252024ChangeCarried interest allocationDistributed$2,470 $— $2,470 Unrealized(57,934)(8,478)(49,456)$(55,464)$(8,478