Andersen Group Inc. reported record fourth-quarter and full-year 2025 results, driven by broad-based growth across tax, consulting, and advisory services. Full-year revenue reached $838.7 million, reflecting 14.6% growth year-over-year, supported by client additions and service expansion. The company operates a diversified service model across private client services, business tax, alternative investment funds, and valuation, with over 12,350 client groups and 22,450 engagements in 2025.
Revenue stood at $838.7 million (FY2025) and $170.3 million (Q4 2025). EPS was $(0.18) basic and $(0.22) diluted. Net loss was $(130.2) million, compared to net income of $134.8 million in 2024. Adjusted net income was $217.0 million. Adjusted EBITDA reached $226.3 million with a 27.0% margin.
Operating expenses rose to $974.0 million, primarily due to $193.2 million equity restructuring costs and $147.4 million equity-based compensation. Operating loss was $(135.3) million. Cash and equivalents increased to $250.3 million, with operating cash flow of $184.6 million. The IPO generated net proceeds of $188.2 million.
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