The following is a summary of the Canaccord Genuity Group Inc. (CCORF) Q3 2025 Earnings Call Transcript:

Financial Performance:

• Firmwide revenue for Q3 2025 was $451 million, up 16% year-over-year, with fiscal year-to-date revenue at $1.3 billion, up 22% year-over-year.

• Adjusted diluted earnings per share for the three-month period were $0.17.

• Adjusted pre-tax net income declined by 11% year-over-year for the three-month period, impacted by increased non-compensation expenses and elevated client-related provisions.

• Dividend per common share has been set at $0.085.

Business Progress:

• Wealth management continues to drive company strength, contributing significantly to adjusted earnings per share.

• Firmwide client assets grew to a record $115 billion, a year-over-year increase of 16%.

• New headquarters opened in Vancouver to support growth, particularly in the Canadian wealth management business.

• Brooks McDonald Asset Management International acquisition expected to add over £2 billion in client assets.

Opportunities:

• Anticipated improvement in market conditions for corporate financing, enabling increased activity levels, especially in mid-market equities.

• Continue to see good traction in recruiting and acquisitions, especially in wealth management.

• Strengthening the corporate financing and advisory activities across core capital markets portrays a promising outlook.

Risks:

• Decrease in pre-tax net income due to high non-compensation expenses tied to expansion and regulatory issues.

• Ongoing U.S. enforcement matters impacting profitability, with uncertainties regarding the resolution.

• Subdued activity levels in new issues due to investor risk aversion.

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