Short answer
Burford Capital Ltd (BUR) filed its Q2 2026 10-Q quarterly report on Aug 6, 2026 for the quarter ended Jun 30, 2026. Quarterly revenue was $111M (down 42.1% year over year) with net income of $2M.
Q2 2026 key financials · XBRL
- Revenue
- $111M
- −42.1% YoY
- Net income
- $2M
- −97.5% YoY · +100.1% QoQ
- Operating margin
- 57.1%
- EPS (diluted)
- $0.02
- −94.9% YoY · +100.3% QoQ
Source: XBRL data from the Burford Capital Ltd (BUR) Q2 2026 10-Q on SEC EDGAR. USD.
Burford Capital Ltd Q2 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $110.7M, down 42% YoY from $191.3M, driven by lower capital provision income
- Operating income $63.2M, down 56% YoY from $142.2M
- Net income $9.5M vs $105.2M YoY, with shareholder income $2.2M vs $88.3M
- Capital provision income $101.5M, down 55%, while realizations increased to $149.0M from $90.1M
- Six-month YPF reversal drove $1.7B capital provision loss and $1.6B shareholder net loss; discount rate 6.7% vs 6.1% year-end
Risk Factors
- Newly triggered risk: YPF Judgment Reversal in March 2026 caused a substantial write-down of YPF-related assets
- Concentration risk: YPF-related assets represented 46% of capital provision assets at December 31, 2025
- Valuation risk: Fair-value models require complex judgments on inherently unpredictable legal outcomes
- Regulatory or compliance risk: No material changes to 2025 Form 10-K and 1Q26 Form 10-Q disclosures
- Financial risk: Non-cash fair-value income may never be realized, adversely affecting liquidity and results of operations
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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