Moelis & Company Reports 12% Revenue Growth to $409.4 Million in Q2 2026

Moelis & Company reported a notable increase in financial performance for the second quarter of 2026, with revenues reaching $409.4 million, a 12% rise from $365.4 million in the same period last year. For the first half of 2026, total revenues amounted to $729.2 million, up 9% from $672.0 million in the first half of 2025. The growth in revenue was primarily driven by an increase in average fees earned per completed transaction, reflecting a strong demand for the company's advisory services in mergers and acquisitions, recapitalizations, and restructurings.

The company's operating expenses also increased, totaling $336.6 million for the second quarter, compared to $304.7 million in the prior year, representing a 10% rise. For the first half of 2026, operating expenses were $615.8 million, up 7% from $574.4 million in the same period of 2025. The increase in expenses was attributed to higher compensation and benefits costs, which accounted for 66% of revenues, as well as a significant rise in non-compensation expenses, particularly in areas such as occupancy and professional fees.

In terms of operational metrics, Moelis & Company served 144 clients in the second quarter of 2026, an increase from 136 clients in the same quarter of 2025. The number of clients that paid fees of $1 million or more also rose, from 60 to 67. The firm maintained a headcount of 1,016 advisory bankers as of June 30, 2026, reflecting its commitment to expanding its advisory capabilities across various sectors and regions.

Geographically, the United States remained the largest contributor to revenue, generating $360.9 million in the second quarter, compared to $267.6 million in the same period last year. However, revenues from Europe and the Rest of the World saw declines, indicating potential challenges in those markets. The company’s total assets decreased to $1.41 billion as of June 30, 2026, down from $1.74 billion at the end of 2025, primarily due to a reduction in cash and cash equivalents.

Looking ahead, Moelis & Company expressed optimism about its growth prospects, citing strong levels of deal activity and client engagement. The firm anticipates that ongoing technological advancements, particularly in artificial intelligence, will drive strategic transactions and enhance its advisory offerings. However, it also acknowledged potential volatility in the market due to geopolitical events and evolving credit conditions, which could impact transaction activity and revenue timing. The company declared a quarterly dividend of $0.65 per share, reflecting its commitment to returning value to shareholders while maintaining a strong liquidity position.