Company: DBRG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001679688-25-000084
Chunk: 81

Company: DigitalBridge Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 81
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372)$178,430 (221,802)$(65,676)$171,716 (237,392)

Cash and equity-based compensation—Cash compensation was largely consistent in the periods under comparison. 

Equity-based compensation was lower in both periods under comparison as 2024 included performance-based awards that had fully vested.

Incentive fee and carried interest compensation allocation—For both quarter-to-date and year-to-date periods under comparison, the net reversal of compensation in 2025 and net expense in 2024 are consistent with the changes in carried interest, as discussed above. 

Administrative and Other Expenses

Administrative and other expenses decreased $15.1 million to $11.4 million in the quarter-to-date comparison and $23.4 million to $27.4 million in the year-to-date comparison. The decreases in both periods can be attributed largely to insurance recoveries in 2025 related to litigation costs incurred in prior periods ($7.6 million and $18.2 million, respectively) and lower third party professional service costs, including reimbursable costs incurred on behalf of our managed investment vehicles. This was partially offset by costs incurred for potential new products ($3.0 million and $5.7 million, respectively).

40

Interest Expense

Interest expense increased $1.4 million to $4.6 million in the quarter-to-date comparison and $0.1 million to $8.5 million in the year-to-date comparison. The increases in both periods were driven by $0.6 million of accelerated deferred financing costs in connection with a reduction in the VFN borrowing capacity in June 2025. In the year-to-date comparison, this was partially offset by a decrease resulting from the full exchange/redemption of the remaining 5.75% exchangeable senior notes in April 2024.

Transaction-Related Costs

Transaction-related costs increased $3.5 million to $4.2 million in the quarter-to-date comparison and $7.2 million to $8.6 million in the year-to-date comparison due to higher deal activity.

Depreciation and Amortization

Depreciation and amortization expense increased $0.5 million in the quarter-to-date comparison and decreased $1.5 million in the year-to-date comparison. Both periods included accelerated depreciation for fixed assets disposed in connection with the assignment of an office lease in the second quarter of 2025, offset by reduced amortization, which was more impactful in the year-to-date period, due