Patria Investments Limited (PAX)

Patria Investments Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	405.8	374.2	327.62	258.88	235.52	115.02
Revenue Growth (YoY)	23.46%	14.22%	26.55%	9.92%	104.77%	-6.65%
Cost of Revenue	154.61	140.01	124.75	103.86	79.84	24.87
Gross Profit	251.19	234.19	202.87	155.01	155.67	90.14
Selling, General & Admin	48.58	45.58	38.38	30.47	13.99	14.38
Amortization of Goodwill & Intangibles	40.53	30.73	22.37	17.38	6.97	6.01
Other Operating Expenses	1.1	1.1	0.78	0.69	0.34	2.55
Operating Expenses	90.21	77.41	61.53	48.53	21.31	22.94
Operating Income	160.98	156.78	141.34	106.48	134.37	67.21
Interest Expense	-8.5	-11.4	-1.24	-1.81	-1.02	-0.87
Earnings From Equity Investments	-0.31	-0.51	-0.75	-2.35	-	-
Currency Exchange Gain (Loss)	2.58	2.58	0.22	-1.35	0.6	0.5
Other Non Operating Income (Expenses)	18.23	4.83	-17.46	-13.35	-4.14	-2.27
EBT Excluding Unusual Items	172.98	152.28	122.1	87.63	129.81	64.57
Merger & Restructuring Charges	-26.81	-26.81	-13.97	-6.36	-8.55	-
Gain (Loss) on Sale of Investments	-14.2	-14.2	1.23	9.59	0.58	0.28
Other Unusual Items	-25.28	-25.28	8.63	11.59	-0.26	0.13
Pretax Income	106.69	85.99	118	102.45	121.57	64.98
Income Tax Expense	-3.59	10.31	-2.82	8.35	0.38	3.14
Earnings From Continuing Operations	110.29	75.69	120.82	94.1	121.19	61.84
Minority Interest in Earnings	-3.91	-3.81	-2.42	-1.15	1.29	0.37
Net Income	106.38	71.88	118.4	92.96	122.48	62.21
Net Income to Common	106.38	71.88	118.4	92.96	122.48	62.21
Net Income Growth	67.23%	-39.30%	27.37%	-24.10%	96.88%	6.27%
Shares Outstanding (Basic)	153	153	148	147	136	117
Shares Outstanding (Diluted)	153	154	149	147	136	117
Shares Change (YoY)	0.95%	3.53%	0.99%	8.27%	16.23%	-
EPS (Basic)	0.69	0.47	0.80	0.63	0.90	0.53
EPS (Diluted)	0.69	0.47	0.80	0.63	0.90	0.53
EPS Growth	65.66%	-41.36%	26.13%	-29.90%	69.39%	6.27%
Free Cash Flow	-	142.34	150.86	75.61	106.01	52.53
Free Cash Flow Per Share	-	0.93	1.01	0.51	0.78	0.45
Dividend Per Share	0.602	0.874	0.984	0.702	0.625	0.400
Dividend Growth	-34.82%	-11.18%	40.17%	12.37%	56.17%	56.01%
Gross Margin	61.90%	62.58%	61.92%	59.88%	66.10%	78.38%
Operating Margin	39.67%	41.90%	43.14%	41.13%	57.05%	58.43%
Profit Margin	26.21%	19.21%	36.14%	35.91%	52.00%	54.09%
Free Cash Flow Margin	-	38.04%	46.05%	29.21%	45.01%	45.67%
EBITDA	190.4	187.83	164.64	124.87	141.76	73.79
EBITDA Margin	46.92%	50.20%	50.26%	48.24%	60.19%	64.15%
D&A For EBITDA	29.42	31.05	23.31	18.39	7.39	6.58
EBIT	160.98	156.78	141.34	106.48	134.37	67.21
EBIT Margin	39.67%	41.90%	43.14%	41.13%	57.05%	58.43%
Effective Tax Rate	-	11.98%	-	8.15%	0.31%	4.83%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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