Apollo Global Management (APO) Q2 2025 10-Q Quarterly Report

Filed: Aug 7, 2025Period ending Jun 30, 2025
Financials
Investment AdviceSEC EDGAR

Apollo Global Management (APO) 10-Q quarterly report for Q2 2025, filed with SEC EDGAR on Aug 7, 2025 for the fiscal period ending Jun 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.

Apollo Global Management Q2 2025 10-Q Analysis

Management Discussion & Analysis

  • No quarterly revenue or YoY figures disclosed in section
  • No profitability or margin % changes reported in section
  • No segment or product line performance metrics provided
  • Current assets declined to $2.143B from $2.545B Dec 2024; current liabilities rose to $894M from $521M
  • Management notes $2.5B deferred purchase obligation on Atlas acquisition, reduced from $3.3B with related fee income adjustments, no liability recorded for guarantee

Risk Factors

  • New regulatory risk: Athora transaction pending regulatory approval, with conditional $2.0B investment commitment subject to closing conditions
  • Material update: Fund VIII escrow ratio below 115%, requiring escrow of current and future performance fee distributions until ratio restored
  • Compliance risk: Tax receivable agreement requires 85% of tax savings cash payments to former partners, potentially impacting liquidity
  • Operational risk: Athene's deferred annuity liabilities 84% subject to surrender penalties, with 68% containing market value adjustments affecting withdrawal behavior
  • Financial risk: $12.7B unrestricted cash and $5.1B available credit facilities supporting liquidity, with long-term debt of $4.3B (asset mgmt) and $7.9B (Athene)

Apollo Global Management Q2 2025 Quarterly Financials
XBRL

Revenue

$6.8B

+13.2% YoY +22.8% QoQ

Net Income

$630M

-26.1% YoY +42.5% QoQ

Net Margin

9.2%

-493bp YoY +128bp QoQ

EPS (Diluted)

$0.99

-27.2% YoY +45.6% QoQ

Operating Cash Flow

$1.3B

-5.3% YoY +24.7% QoQ

Source: XBRL data from Apollo Global Management Q2 2025 10-Q filing on SEC EDGAR. All figures in USD.

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