Moelis & Company (NYSE: MC) reports record Q2 revenue, $0.65 dividend

Rhea-AI Filing Summary

Moelis & Company reported record second-quarter 2026 revenue of $409.4 million, up 12% from a year earlier, and record first-half revenue of $729.2 million, up 9%. Second-quarter GAAP net income was $55.1 million, or $0.62 per diluted share, with adjusted diluted EPS of $0.63.

For the first half of 2026, GAAP net income was $97.4 million, or $1.10 per diluted share, and adjusted diluted EPS was $1.13. Adjusted pre-tax margins improved to 18.6% for the quarter and 17.0% year-to-date. The firm held $481.1 million in cash and liquid investments, had no debt, declared a regular quarterly dividend of $0.65 per share, and returned $246.4 million to shareholders in the first half, including 2.3 million shares repurchased.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Revenue: $409.4 million First Half 2026 Revenue: $729.2 million Q2 2026 GAAP Diluted EPS: $0.62 per share +5 more

8 metrics

Q2 2026 Revenue $409.4 million Record second quarter 2026 revenues, up 12% from prior-year period

First Half 2026 Revenue $729.2 million Record first half 2026 revenues, up 9% from prior-year period

Q2 2026 GAAP Diluted EPS $0.62 per share Second quarter 2026 GAAP net income per diluted share

Q2 2026 Adjusted Diluted EPS $0.63 per share Second quarter 2026 adjusted net income per diluted share

Quarterly Dividend $0.65 per share Regular quarterly dividend declared, payable September 17, 2026

Cash and Liquid Investments $481.1 million Cash and short-term investments as of June 30, 2026, with no debt

Shares Repurchased H1 2026 2.3 million shares Total shares repurchased in first half 2026 for $140.8 million

Capital Returned H1 2026 $246.4 million Total capital returned to shareholders including dividends in first half 2026

Key Terms

Adjusted (non-GAAP), Adjusted pre-tax margin, Tax Receivable Agreement, noncontrolling interests, +1 more

5 terms

Adjusted (non-GAAP) financial

"GAAP net income of $0.62 per share (diluted) and Adjusted net income of $0.63 per share"

Adjusted (non-GAAP) numbers are company-reported financial figures that start with standard accounting results and then add back or remove certain items—like one-time costs, stock-based pay, or restructuring charges—to present a different view of performance. Investors care because these adjustments can make underlying trends clearer, like cleaning a blurry photo to see the subject, but they can also be used to make results look better than the standard figures, so scrutiny is needed.

Adjusted pre-tax margin financial

"Second quarter 2026 Adjusted pre-tax margin of 18.6% versus 17.6% in the prior year period"

Tax Receivable Agreement financial

"Tax Receivable Agreement liability adjustments are made to other income (expenses) for GAAP purposes"

A contract in which a company agrees to pay a specified party (often former owners after a spinoff or IPO) a share of future tax savings the company realizes. Think of it like agreeing to share a future tax refund with someone who helped create the conditions for that refund. For investors it matters because those payments reduce the cash the company can use for dividends, buybacks, or reinvestment, and therefore affect valuation and returns.

noncontrolling interests financial

"Net income (loss) attributable to noncontrolling interests was 6,534 for the quarter"

The portion of a subsidiary’s equity and profits that belongs to outside owners rather than the parent company; when a parent reports consolidated results it includes the whole subsidiary but shows the noncontrolling slice separately. Think of a company’s subsidiary as a pie where the parent owns most slices but some are held by other investors — noncontrolling interests tell you how much of the pie and its future earnings don’t belong to the parent, which affects how much profit and net assets are truly attributable to the parent’s shareholders.

diluted earnings per share financial

"GAAP net income of $0.62 per share (diluted) and $1.10 per share (diluted)"

Diluted earnings per share is a measure of a company's profit allocated to each share of stock, taking into account all possible shares that could be created through stock options, convertible bonds, or other securities. It shows the lowest possible earnings per share if all these potential shares were issued, helping investors understand the worst-case scenario for their ownership. This figure matters because it provides a more conservative view of a company's profitability per share.

Earnings Snapshot

Q2 2026 Revenue: $409.4 million

Second quarter and first half ended June 30, 2026

Q2 2026 Revenue $409.4 million up 12% from the prior year period

First Half 2026 Revenue $729.2 million up 9% from the prior year period

Q2 2026 GAAP Diluted EPS $0.62 compared with $0.53 per share (diluted) in the prior year period

Q2 2026 Adjusted Diluted EPS $0.63 compared with $0.53 per share (diluted) in the prior year period

First Half 2026 GAAP Diluted EPS $1.10 compared with $1.17 per share (diluted) in the prior year period

First Half 2026 Adjusted Diluted EPS $1.13 compared with $1.17 per share (diluted) in the prior year period

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Understanding 8-K Material Events →

Available on EDGAR 07/29/2026 - 04:16 PM Accepted by SEC EDGAR 07/29/2026 - 04:15 PM Learn about SEC filing dates

FAQ

What were Moelis & Company (MC) revenues and earnings for Q2 2026?

Moelis & Company reported Q2 2026 revenue of $409.4 million, up 12% year over year, and GAAP diluted EPS of $0.62. Adjusted diluted EPS was $0.63, compared with $0.53 in the prior-year quarter, reflecting higher average fees per completed transaction.

How did Moelis & Company (MC) perform in the first half of 2026?

For the first half of 2026, Moelis generated revenue of $729.2 million, up 9% from the prior year, and GAAP diluted EPS of $1.10. Adjusted diluted EPS was $1.13, compared with $1.17 a year earlier, with results influenced by lower net tax benefits.

What dividend did Moelis & Company (MC) declare with these results?

The board declared a regular quarterly dividend of $0.65 per share. It will be paid on September 17, 2026, to common stockholders of record on August 10, 2026, continuing the firm’s practice of returning capital to shareholders via cash dividends.

How much capital did Moelis & Company (MC) return to shareholders in 2026 so far?

In the first half of 2026, Moelis & Company returned $246.4 million to shareholders, including dividends and buybacks. The firm repurchased approximately 2.3 million shares for $140.8 million, including 0.3 million shares in Q2 at an average price of $64.43.

What is Moelis & Company’s (MC) balance sheet position as of June 30, 2026?

As of June 30, 2026, Moelis held $481.1 million in cash and liquid investments and had no funded debt or goodwill on its balance sheet. This financial position supports ongoing dividends, share repurchases, and investment in strategic growth initiatives.

How is Moelis & Company (MC) investing for growth in 2026?

Moelis is expanding its platform, with 12 Managing Directors hired or committed year-to-date across areas such as Private Credit Secondaries, Securitization, Private Capital Advisory, and European Sponsors and Infrastructure, while also increasing technology spending, including investment in AI capabilities.

What non-GAAP measures does Moelis & Company (MC) highlight and why?

Moelis presents Adjusted (non-GAAP) results, including adjusted revenues, expenses, and EPS, assuming 100% of operating results are taxed at the corporate effective tax rate. Management believes these measures help compare performance across periods and isolate items like TRA adjustments and discrete tax benefits.

false000159696700015969672026-07-292026-07-29

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 29, 2026

Moelis & Company

(Exact name of Registrant as Specified in Its Charter)

Delaware			001-36418	46-4500216
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
399 Park Avenue 4th Floor
New York, New York				10022
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212 883-3800

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock		MC		The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 29, 2026, Moelis & Company issued a press release announcing financial results for the second quarter ended June 30, 2026.

A copy of the press release is attached hereto as Exhibit 99.1. All information in the press release is furnished but not filed.

Item 7.01 Regulation FD Disclosure.

On July 29, 2026, Moelis & Company (the “Company”) updated the investor presentation available under “Events and Presentations” on the Investor Relations section of its website. The updated presentation is available using the following link: http://investors.moelis.com/event. The information in this Item 7.01 of this Form 8-K is furnished as of the date hereof, and the Company disclaims any obligation to correct or update this information, its website or the presentation in the future. The contents of the Company’s website are not included or incorporated by reference into this Form 8-K, and any references to such website are intended to be inactive textual references only. All information in this Item 7.01 of this Form 8-K is furnished but not filed.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits:

Exhibit Number	Description
99.1	Press release of Moelis & Company dated July 29, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			MOELIS & COMPANY
Date:	July 29, 2026	By:	/s/ Christopher Callesano
			Name: Christopher Callesano Title: Chief Financial Officer

Exhibit 99.1

Moelis & Company Reports Second Quarter and First Half 2026 Financial Results;

Declares Regular Quarterly Dividend of $0.65 Per Share

•Record second quarter revenues of $409.4 million, up 12% from the prior year period

•Record first half revenues of $729.2 million, up 9% from the prior year period

•GAAP net income of $0.62 per share (diluted) and $1.10 per share (diluted) for the second quarter and first half of 2026, respectively; Adjusted net income of $0.63 per share (diluted) and $1.13 per share (diluted) for the second quarter and first half of 2026, respectively

•Second quarter 2026 Adjusted pre-tax margin of 18.6% versus 17.6% in the prior year period; first half 2026 Adjusted pre-tax margin of 17.0% versus 16.0% in the prior year period

•Continued to execute on our growth strategy:

―Six Managing Directors have joined the Firm year-to-date, focused on Private Credit Secondaries, Securitization, Debt Capital Markets and Private Credit, Energy, Chemicals, and Healthcare IT

―Six additional Managing Directors are committed to join throughout the year, including three hires in Private Capital Advisory, two in Europe focused on Sponsors and Infrastructure, and one in Capital Structure Advisory

•Strong balance sheet with cash and short-term investments of $481.1 million and no debt or goodwill

―Declared quarterly dividend of $0.65 per share

―Repurchased 0.3 million shares during the second quarter on the open market at an average price of $64.43 per share

―Including the dividend declared today, we will have returned $246.4 million to shareholders with respect to the first half of 2026

NEW YORK, July 29, 2026 – Moelis & Company (NYSE:MC) today reported financial results for the second quarter ended June 30, 2026. The Firm's second quarter revenues of $409.4 million increased 12% from the prior year period. The Firm reported second quarter GAAP net income of $55.1 million, or $0.62 per share (diluted). On an Adjusted basis, the Firm reported net income of $54.1 million, or $0.63 per share (diluted) for the second quarter of 2026, as compared with net income of $45.5 million, or $0.53 per share (diluted), in the prior year period.

The Firm's first half revenues of $729.2 million increased 9% from the prior year period. The Firm reported GAAP net income of $97.4 million, or $1.10 per share (diluted) for the first half of 2026. On an Adjusted basis, the Firm reported net income of $97.2 million, or $1.13 per share (diluted) in the first half of 2026, as compared with net income of $99.9 million, or $1.17 per share (diluted), in the prior year period. GAAP and Adjusted net income in the first half of 2026 include net tax benefits of approximately $0.11 per share (diluted) related to the settlement of share-based awards, as compared with net tax benefits of approximately $0.28 per share (diluted) in the prior year periods.

1

"Our record second-quarter and first-half revenues reflect the depth of our client franchise and the continued expansion of our advisory capabilities. We are seeing strong client engagement and momentum in transaction activity, and we are well positioned to deliver exceptional outcomes for our clients while creating long-term value for our shareholders," said Navid Mahmoodzadegan, Chief Executive Officer and Co-Founder.

The Firm’s revenues and net income can fluctuate materially depending on the number, size and timing of completed transactions as well as other factors. Accordingly, financial results in any particular quarter may not be representative of future results over a longer period of time.

Currently 91% of the operating partnership (Moelis & Company Group LP) is owned by the corporate partner (Moelis & Company) and is subject to corporate U.S. federal and state income tax. The remaining 9% is owned by other partners of Moelis & Company Group LP and is primarily subject to U.S. federal tax at the partner level (certain state, local and foreign income taxes are incurred at the company level). The Adjusted results included herein apply certain adjustments from our GAAP results, including the assumption that 100% of the Firm’s operating result was taxed at our corporate effective tax rate. We believe the Adjusted results, when presented together with comparable GAAP results, are useful to investors to compare our performance across periods and to better understand our operating results. A reconciliation between our GAAP results and our Adjusted results is presented in the Appendix to this press release.

GAAP and Adjusted (non-GAAP) Selected Financial Data (Unaudited)

		GAAP									Adjusted (non-GAAP)*
		Three Months Ended June 30,
($ in thousands except per share data)		2026			2025			Variance			2026			2025			Variance
Revenues		$	409,387		$	365,376		12	%		$	409,387		$	365,376		12	%
Income (loss) before income taxes			75,282			64,139		17	%			76,306			64,418		18	%
Provision (benefit) for income taxes			20,155			17,384		16	%			22,230			18,964		17	%
Net income (loss)			55,127			46,755		18	%			54,076			45,454		19	%
Net income (loss) attributable to noncontrolling interests			6,534			5,217		25	%			—			—		N/M
Net income (loss) attributable to Moelis & Company		$	48,593		$	41,538		17	%		$	54,076		$	45,454		19	%
Diluted earnings (loss) per share		$	0.62		$	0.53		17	%		$	0.63		$	0.53		19	%
N/M = not meaningful
* See Appendix for a reconciliation of GAAP to Adjusted (non-GAAP)

		GAAP									Adjusted (non-GAAP)*
		Six Months Ended June 30,
($ in thousands except per share data)		2026			2025			Variance			2026			2025			Variance
Revenues		$	729,167		$	671,969		9	%		$	729,167		$	671,969		9	%
Income (loss) before income taxes			121,443			107,192		13	%			124,213			107,471		16	%
Provision (benefit) for income taxes			24,021			6,662		261	%			27,025			7,578		257	%
Net income (loss)			97,422			100,530		(3)	%			97,188			99,893		(3)	%
Net income (loss) attributable to noncontrolling interests			10,396			8,724		19	%			—			—		N/M
Net income (loss) attributable to Moelis & Company		$	87,026		$	91,806		(5)	%		$	97,188		$	99,893		(3)	%
Diluted earnings (loss) per share		$	1.10		$	1.17		(6)	%		$	1.13		$	1.17		(3)	%
N/M = not meaningful
* See Appendix for a reconciliation of GAAP to Adjusted (non-GAAP)

2

Revenues

We earned revenues of $409.4 million in the second quarter of 2026, as compared with $365.4 million in the prior year period, representing an increase of 12%. For the first half of 2026, we earned revenues of $729.2 million, as compared with $672.0 million in the prior year period, representing an increase of 9%. The increase in revenues during both current year periods is attributable to an increase in average fees earned per completed transaction.

We continue to execute on our growth strategy. Year-to-date, we have hired 12 Managing Directors, six of whom have joined the Firm across Private Credit Secondaries, Securitization, Debt Capital Markets and Private Credit, Energy, Chemicals, and Healthcare IT. The remaining six are expected to join later this year, including three in Private Capital Advisory, two in Europe focused on Sponsors and Infrastructure, and one in Capital Structure Advisory.

Expenses

The following tables set forth information relating to the Firm’s operating expenses.

		GAAP											Adjusted (non-GAAP)*
		Three Months Ended June 30,
($ in thousands)		2026				2025				Variance			2026				2025				Variance
Expenses:
Compensation and benefits		$	269,377			$	252,110			7	%		$	269,377			$	252,110			7	%
% of revenues			65.8	%			69.0	%						65.8	%			69.0	%
Non-compensation expenses		$	67,180			$	52,637			28	%		$	66,451			$	52,637			26	%
% of revenues			16.4	%			14.4	%						16.2	%			14.4	%
Total operating expenses		$	336,557			$	304,747			10	%		$	335,828			$	304,747			10	%
% of revenues			82.2	%			83.4	%						82.0	%			83.4	%
* See Appendix for a reconciliation of GAAP to Adjusted (non-GAAP)

		GAAP											Adjusted (non-GAAP)*
		Six Months Ended June 30,
($ in thousands)		2026				2025				Variance			2026				2025				Variance
Expenses:
Compensation and benefits		$	479,792			$	463,659			3	%		$	479,792			$	463,659			3	%
% of revenues			65.8	%			69.0	%						65.8	%			69.0	%
Non-compensation expenses		$	136,049			$	110,769			23	%		$	133,637			$	110,769			21	%
% of revenues			18.7	%			16.5	%						18.3	%			16.5	%
Total operating expenses		$	615,841			$	574,428			7	%		$	613,429			$	574,428			7	%
% of revenues			84.5	%			85.5	%						84.1	%			85.5	%
* See Appendix for a reconciliation of GAAP to Adjusted (non-GAAP)

Total operating expenses on a GAAP basis were $336.6 million for the second quarter of 2026, as compared with $304.7 million in the prior year period. On an Adjusted basis, operating expenses were $335.8 million for the second quarter of 2026, as compared with $304.7 million in the prior year period. For the first half of 2026, total operating expenses on a GAAP basis were $615.8 million, as compared with $574.4 million in the prior year period. On an Adjusted basis, operating expenses were $613.4 million for the first half of 2026, as compared with $574.4 million in the prior year period. The increase in operating expenses in both current year periods is attributable to increased compensation and benefits and non-compensation expenses, as compared with the prior year periods.

Compensation and benefits expenses on a GAAP and Adjusted basis were $269.4 million for the second quarter of 2026, as compared with GAAP and Adjusted compensation and benefits expenses of $252.1 million in the prior year period. For the first half of 2026, compensation and benefits expenses on a GAAP and Adjusted basis were $479.8 million, as compared with GAAP and Adjusted compensation and benefits expenses of $463.7 million in the

3

prior year period. The increase in compensation and benefits expenses during both current year periods is primarily attributable to increased headcount, as compared with the prior year period.

Non-compensation expenses on a GAAP basis were $67.2 million for the second quarter of 2026, as compared with $52.6 million in the prior year period. On an Adjusted basis, non-compensation expenses were $66.5 million for the second quarter of 2026, as compared with $52.6 million in the prior year period. For the first half of 2026, non-compensation expenses on a GAAP basis were $136.0 million, as compared with $110.8 million in the prior year period. On an Adjusted basis, non-compensation expenses for the first half of 2026 were $133.6 million, as compared with $110.8 million in the prior year period. The increase in non-compensation expenses during the second quarter and first half of 2026 are primarily attributable to increased deal-related travel and entertainment and client conferences, occupancy and depreciation expenses related to new office space, professional fees associated with our public equity capital markets business, communication and technology expenses driven by AI investment, and other expenses driven by increased business administration costs.

Other Income (Expenses)

		GAAP									Adjusted (non-GAAP)*
		Three Months Ended June 30,
($ in thousands)		2026			2025			Variance			2026			2025			Variance
Other income (expenses)		$	2,452		$	3,510		(30)	%		$	2,747		$	3,789		(28)	%
* See Appendix for a reconciliation of GAAP to Adjusted (non-GAAP)

		GAAP									Adjusted (non-GAAP)*
		Six Months Ended June 30,
($ in thousands)		2026			2025			Variance			2026			2025			Variance
Other income (expenses)		$	8,117		$	9,651		(16)	%		$	8,475		$	9,930		(15)	%
* See Appendix for a reconciliation of GAAP to Adjusted (non-GAAP)

Other income (expenses) on a GAAP basis was income of $2.5 million for the second quarter of 2026, as compared with $3.5 million in the prior year period. On an Adjusted basis, other income for the second quarter of 2026 was $2.7 million, as compared with $3.8 million in the prior year period.

For the first half of 2026, other income (expenses) on a GAAP basis was $8.1 million, as compared with $9.7 million in the prior year period. On an Adjusted basis, other income for the first half of 2026 was $8.5 million, as compared with $9.9 million in the prior year period.

Provision for Income Taxes

The corporate partner (Moelis & Company) currently owns 91% of the operating partnership (Moelis & Company Group LP) and is subject to corporate U.S. federal and state income tax on its allocable share of earnings. The remaining 9% of activity is subject to certain state, local and foreign income taxes (including New York City Unincorporated Business Tax), which is accounted for at the partner level through the noncontrolling interests. For Adjusted purposes, we have assumed that 100% of the Firm’s second quarter 2026 operating results were taxed at our corporate effective tax rate of 29.1% resulting in a tax expense of approximately $22.2 million.

Capital Management and Balance Sheet

Moelis & Company continues to maintain a strong financial position, and as of June 30, 2026, we held cash and liquid investments of $481.1 million and had no funded debt on our balance sheet.

4

The Board of Directors of Moelis & Company declared a regular quarterly dividend of $0.65 per share. The $0.65 per share will be paid on September 17, 2026, to common stockholders of record on August 10, 2026. During the second quarter of 2026, we repurchased 0.3 million shares on the open market at an average price of $64.43 per share.

During the first half of 2026, we repurchased approximately 2.3 million shares through open market repurchases and net share settlements for a total cost of $140.8 million. Including the dividend declared today, we will have returned $246.4 million to shareholders with respect to the first half of 2026.

Earnings Call

We will host a conference call beginning at 5:00pm ET on Wednesday, July 29, 2026, accessible via telephone and the internet. Navid Mahmoodzadegan, Chief Executive Officer and Co-Founder, and Chris Callesano, Chief Financial Officer, will review our second quarter 2026 financial results. Following the review, there will be a question and answer session.

Investors and analysts may participate in the live conference call by dialing +1 (833) 461 5787 and using meeting ID 263 383 779. Please dial in 15 minutes before the conference call begins. The conference call will also be accessible as a listen-only audio webcast through the Investor Relations section of the Moelis & Company website at www.moelis.com.

For those unable to listen to the live broadcast, a replay of the call will be available approximately one hour after the live call ends. The replay can be accessed through the Investor Relations section of the Moelis & Company website at www.moelis.com.

About Moelis & Company

Moelis & Company ("Moelis") is a leading global independent investment bank that provides innovative strategic advice and solutions to a diverse client base, including corporations, governments, and financial sponsors. The Firm assists its clients in achieving their strategic goals by offering comprehensive integrated financial advisory services across all major industry sectors. Moelis’s experienced professionals advise clients on their most critical decisions, including mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, secondary transactions and primary fundraising, and other corporate finance matters. The Firm serves its clients from locations across North and South America, Europe, the Middle East, and Asia-Pacific. For further information, please visit: www.moelis.com.

Forward-Looking Statements

This press release contains forward-looking statements, which reflect the Firm’s current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “target,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are based on certain assumptions and estimates and subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include, but are not limited to, those described under "Risk Factors" discussed in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent reports filed on Form 10-Q and our other filings with the SEC. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release. In addition, new risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to

5

differ materially from those contained in any forward-looking statements. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results. The Firm undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Non-GAAP Financial Measures

The Company prepares its consolidated financial statements using accounting principles generally accepted in the United States (GAAP). From time to time, the Company may disclose certain “non-GAAP financial measures” in the course of its earnings releases, earnings conference calls, financial presentations and otherwise. The Securities and Exchange Commission defines a “non-GAAP financial measure” as a numerical measure of historical or future financial performance, financial position, or cash flows that is subject to adjustments that effectively exclude, or include amounts from the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures disclosed by the Company are provided as additional information to analysts, investors and other stakeholders in order to provide them with greater transparency about, or an alternative method for assessing our financial condition, operating results, or capital adequacy. Adjusted results are a non-GAAP financial measure which provide additional information on management’s view of operating results. These measures are not in accordance with, or a substitute for GAAP, and may be different from or inconsistent with non-GAAP financial measures used by other companies. Whenever we refer to a non-GAAP financial measure, we will also generally define it or present the most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation of the differences between the non-GAAP financial measure we reference and such comparable GAAP financial measure.

The Company’s Adjusted revenues may include amounts reflected within other income (expenses) which are considered the equivalent of revenues for compensation. Such adjustments may include gains on founder investments where our employees and the Moelis advisory platform contributed meaningfully to the value creation; or the mark-to-market impact of equity instruments held by the Company that were originally received as payment for our banking services and included in revenues. We believe these adjustments are useful to allow comparability of period-to-period operating performance and compensation levels.

The Company’s Adjusted compensation and benefits expenses may include adjustments reflected within other income (expenses) associated with compensation awards forfeited or returned to the Company by former employees. Management views the credits associated with such forfeitures as an offset to compensation and benefits expenses since the Firm will utilize the forfeited economics to recruit and or retain talent. We believe the netted presentation of forfeiture credits and compensation expenses is useful to allow comparability of period-to-period operating performance.

The Company’s Adjusted non-compensation expenses and other income (expenses) may exclude certain one-time items that reduce the comparability of our operating performance as well as the amounts related to revenues and compensation and benefits expenses discussed above and adjustments to our provision for income taxes discussed below. Such adjustments increase the comparability of our financial performance across reporting periods and versus our peers.

The Company’s Adjusted provision (benefit) for income taxes is adjusted to illustrate the result as if 100% of the Firm’s income is being taxed at our corporate effective tax rates for the periods presented. Adjusted provision (benefit) for income taxes periodically includes the tax impact related to the settlement of share-based awards, the reclassification of TRA liability adjustments, or adjustments to our deferred tax assets and liabilities that occur in connection with new tax legislation. Such adjustments increase the comparability of our financial performance across reporting periods and versus our peers.

6

The Company’s Adjusted basic and diluted shares of Class A common stock outstanding is presented for each period as if all outstanding Class A partnership units have been exchanged into Class A common stock. The Adjusted presentation helps analysts, investors, and other stakeholders understand the effect of the Firm’s ownership structure on its results, including the impact of all the Firm’s income becoming subject to corporate-level tax.

Contacts

Investor Contact:	Media Contact:
Matt Tsukroff	Melissa Chiles
Moelis & Company	Moelis & Company
t: + 1 212 883 3800	t: + 1 212 883 3583
m: +1 917 526 2340	press@moelis.com
matthew.tsukroff@moelis.com

7

Appendix

GAAP Consolidated Statement of Operations (Unaudited)

Reconciliation of GAAP to Adjusted (non-GAAP) Financial Information (Unaudited)

Moelis & Company

GAAP Consolidated Statement of Operations

Unaudited

(dollars in thousands, except for share and per share data)

			Three Months Ended June 30,						Six Months Ended June 30,
			2026			2025			2026			2025
Revenues			$	409,387		$	365,376		$	729,167		$	671,969
Expenses
Compensation and benefits				269,377			252,110			479,792			463,659
Occupancy				10,471			8,726			20,891			16,843
Professional fees				9,569			7,424			16,241			14,338
Communication, technology and information services				14,824			13,870			30,472			27,191
Travel and related expenses				15,681			12,996			34,083			30,465
Depreciation and amortization				4,203			2,760			7,696			5,539
Other expenses				12,432			6,861			26,666			16,393
Total Expenses				336,557			304,747			615,841			574,428
Operating income (loss)				72,830			60,629			113,326			97,541
Other income (expenses)				2,452			3,510			8,117			9,651
Income (loss) before income taxes				75,282			64,139			121,443			107,192
Provision (benefit) for income taxes				20,155			17,384			24,021			6,662
Net income (loss)				55,127			46,755			97,422			100,530
Net income (loss) attributable to noncontrolling interests				6,534			5,217			10,396			8,724
Net income (loss) attributable to Moelis & Company			$	48,593		$	41,538		$	87,026		$	91,806
Weighted-average shares of Class A common stock outstanding
Basic				75,604,609			75,615,922			75,543,554			74,788,620
Diluted				78,999,667			78,644,806			79,416,689			78,773,981
Net income (loss) attributable to holders of shares of Class A common stock per share
Basic			$	0.64		$	0.55		$	1.15		$	1.23
Diluted			$	0.62		$	0.53		$	1.10		$	1.17

A-1

Moelis & Company

Reconciliation of GAAP to Adjusted (non-GAAP) Financial Information

Unaudited

(dollars in thousands, except share and per share data)

			Three Months Ended June 30, 2026
Adjusted items			GAAP					Adjustments						Adjusted (non-GAAP)
Non-compensation expenses			$		67,180			$		(729	)		(a)	$		66,451
Other income (expenses)					2,452					295			(b)			2,747
Income (loss) before income taxes					75,282					1,024						76,306
Provision (benefit) for income taxes					20,155					2,075			(b)(c)			22,230
Net income (loss)					55,127					(1,051	)					54,076
Net income (loss) attributable to noncontrolling interests					6,534					(6,534	)		(d)			—
Net income (loss) attributable to Moelis & Company			$		48,593			$		5,483				$		54,076
Weighted-average shares of Class A common stock outstanding
Basic					75,604,609					7,042,140			(d)			82,646,749
Diluted					78,999,667					7,042,140			(d)			86,041,807
Net income (loss) attributable to holders of shares of Class A common stock per share
Basic			$		0.64									$		0.65
Diluted			$		0.62									$		0.63
(a)	Reflects an adjustment of $0.7 million related to United Kingdom office expenses incurred during the company's transition to its new space in April 2026.
(b)	Tax Receivable Agreement ("TRA") liability adjustments are made to other income (expenses) for GAAP purposes. Any adjustment related to the TRA liability is reclassified to the provision for income taxes line and such adjustment for the period was expense of $0.3 million.
(c)	An adjustment has been made to illustrate the result as if 100% of the Firm’s income is being taxed at our corporate effective tax rate of 29.1%. Our Adjusted tax provision excludes the costs related to the adjustment to the TRA liabilities originated from past partnership unit exchanges of $0.3 million.
(d)	Assumes all outstanding Class A partnership units have been exchanged into Class A common stock.

A-2

Moelis & Company

Reconciliation of GAAP to Adjusted (non-GAAP) Financial Information

Unaudited

(dollars in thousands, except share and per share data)

			Three Months Ended June 30, 2025
Adjusted items			GAAP					Adjustments						Adjusted (non-GAAP)
Other income (expenses)			$		3,510			$		279			(a)	$		3,789
Income (loss) before income taxes					64,139					279						64,418
Provision (benefit) for income taxes					17,384					1,580			(a)(b)			18,964
Net income (loss)					46,755					(1,301	)					45,454
Net income (loss) attributable to noncontrolling interests					5,217					(5,217	)		(c)			—
Net income (loss) attributable to Moelis & Company			$		41,538			$		3,916				$		45,454
Weighted-average shares of Class A common stock outstanding
Basic					75,615,922					6,533,475			(c)			82,149,397
Diluted					78,644,806					6,533,475			(c)			85,178,281
Net income (loss) attributable to holders of shares of Class A common stock per share
Basic			$		0.55									$		0.55
Diluted			$		0.53									$		0.53
(a)	TRA liability related adjustments are made to other income (expenses) for GAAP purposes. Any adjustment related to the TRA liability is reclassified to the provision for income taxes line and such adjustment for the period was an expense of $0.3 million.
(b)	An adjustment has been made to illustrate the result as if 100% of the Firm’s income is being taxed at our corporate effective tax rate for the period stated. Our Adjusted tax provision excludes any benefits or costs related to the adjustment to the TRA liabilities originated from past partnership unit exchanges; such adjustment for this period was a net expense of $0.3 million, which is not included in the corporate tax provision for the period presented.
(c)	Assumes all outstanding Class A partnership units have been exchanged into Class A common stock.

A-3

Moelis & Company

Reconciliation of GAAP to Adjusted (non-GAAP) Financial Information

Unaudited

(dollars in thousands, except share and per share data)

			Six Months Ended June 30, 2026
Adjusted items			GAAP			Adjustments				Adjusted (non-GAAP)
Non-compensation expenses			$	136,049		$	(2,412)		(a)	$	133,637
Other income (expenses)				8,117			358		(b)		8,475
Income (loss) before income taxes				121,443			2,770				124,213
Provision (benefit) for income taxes				24,021			3,004		(b)(c)		27,025
Net income (loss)				97,422			(234)				97,188
Net income (loss) attributable to noncontrolling interests				10,396			(10,396)		(d)		—
Net income (loss) attributable to Moelis & Company			$	87,026		$	10,162			$	97,188
Weighted-average shares of Class A common stock outstanding
Basic				75,543,554			6,889,522		(d)		82,433,076
Diluted				79,416,689			6,889,522		(d)		86,306,211
Net income (loss) attributable to holders of shares of Class A common stock per share
Basic			$	1.15						$	1.18
Diluted			$	1.10						$	1.13
(a)	Reflects an adjustment of $2.4 million related to United Kingdom office expenses incurred during the company's transition to its new space in April 2026.
(b)	Tax Receivable Agreement liability adjustments are made to other income (expenses) for GAAP purposes. Any adjustment related to the TRA liability is reclassified to the provision for income taxes line and such adjustment for the period was an expense of $0.4 million.
(c)	An adjustment has been made to illustrate the result as if 100% of the Firm’s income is being taxed at our corporate effective tax rate of 21.8%. Our tax provision includes a tax benefit related to the settlement of share-based awards of $9.4 million; excluding such discrete benefit, our effective tax rate for the period presented would have been 29.3%. Our Adjusted tax provision excludes the costs related to the adjustment to the TRA liabilities originated from past partnership unit exchanges of $0.4 million.
(d)	Assumes all outstanding Class A partnership units have been exchanged into Class A common stock.

A-4

Moelis & Company

Reconciliation of GAAP to Adjusted (non-GAAP) Financial Information

Unaudited

(dollars in thousands, except share and per share data)

			Six Months Ended June 30, 2025
Adjusted items			GAAP			Adjustments				Adjusted (non-GAAP)
Other income (expenses)			$	9,651		$	279		(a)	$	9,930
Income (loss) before income taxes				107,192			279				107,471
Provision (benefit) for income taxes				6,662			916		(a)(b)		7,578
Net income (loss)				100,530			(637)				99,893
Net income (loss) attributable to noncontrolling interests				8,724			(8,724)		(c)		—
Net income (loss) attributable to Moelis & Company			$	91,806		$	8,087			$	99,893
Weighted-average shares of Class A common stock outstanding
Basic				74,788,620			6,442,494		(c)		81,231,114
Diluted				78,773,981			6,442,494		(c)		85,216,475
Net income (loss) attributable to holders of shares of Class A common stock per share
Basic			$	1.23						$	1.23
Diluted			$	1.17						$	1.17
(a)	TRA liability related adjustments are made to other income (expenses) for GAAP purposes. Any adjustment related to the TRA liability is reclassified to the provision for income taxes line and such adjustment for the period was an expense of $0.3 million.
(b)	An adjustment has been made to illustrate the result as if 100% of the Firm’s income is being taxed at our corporate effective tax rate for the period stated. Our tax provision includes a tax benefit related to the settlement of share-based awards of $24.1 million; excluding such discrete benefit, our effective tax rate for the period presented would have been 29.5%. Our Adjusted tax provision excludes any benefits or costs related to the adjustment to the TRA liabilities originated from past partnership unit exchanges; such adjustment for this period was a net expense of $0.3 million, which is not included in the corporate tax provision for the period presented.
(c)	Assumes all outstanding Class A partnership units have been exchanged into Class A common stock.

A-5

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 918.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 24.3 KB