Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 183

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 5
Chunk 183
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 company.

Net Financial Income/(Expense)

Financial income is mainly composed of interest on highly liquid investments, realized and unrealized gains on long-term investments, unrealized gains on derivative financial instruments and asset-linked receivables and foreign exchange gains in monetary items. Financial expenses include interest, unrealized losses on derivative financial instruments, foreign exchange losses in monetary items and commission and brokerage expenses, recognized on an accrual basis.

Income Tax

As an entity originally headquartered in Bermuda, then moving our headquarters to the Cayman Islands as of October 12, 2020, we are not subject to a special tax regime that exempts Patria from any income taxes. However, our subsidiaries outside the Cayman Islands may be subject to income tax and/or social contribution in the countries in which they are organized. See note 4(p) to our audited consolidated financial statements included elsewhere in this annual report.

Net Income for the Year

Net income for the year consists of the sum of revenue from services and net financial income minus operating income and expenses and income tax.

  Patria Investments Limited      120  

  Table of Contents  

Results of Operations

Year Ended December 31, 2024, Compared to the Year Ended December 31, 2023

The following table sets forth our income statement data for the year ended December 31, 2024 and 2023:

                                                                 For the Years Ended                             
                                                                        December 31,                             
                                                                                2024        2023      Variation  
                                                                                                            (%)  
                                           (in US$ millions, except for percentages)                             
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net Revenue from services                                                    374.2       327.6           14.2  
  Personnel expenses                                                         (111.7)      (78.8)           41.7  
  Carried interest allocation                                                 (20.9)      (25.2)         (17.0)  
  Deferred consideration                                                      (11.2)      (23.0)         (51.1)  
  Amortization of intangible assets                                           (30.7)      (22.4)           37.2  
  General and administrative expenses                                         (46.7)      (39.1)           19.4  
  Other expenses                                                              (45.8)      (18.7)          145.0  
  Share of equity-accounted losses                                             (0.5)       (0.7)