Canaccord Genuity Group reported fourth quarter revenue of $461.2 million, an increase of 12.8% compared to the same period in the prior year, it said on Wednesday.
Revenue for the 2025 fiscal year was $1.8 billion, up 19.6% year over year.
However, the firm reported fourth-quarter net income, before taxes and excluding significant items, of $32.2 million — a decrease of 17.5% from the same period of 2024. For the fiscal year, pre-tax net income increased by 12% to $149.1 million.
The company’s global wealth management operations earned $238.9 million in revenue for the fourth quarter, up 19.4% year-over-year. This was primarily driven by higher commissions and fee revenue from all geographical regions.
“Our wealth businesses continue to execute against clearly defined business plans focused on sustainable growth and profitability, and we are cautiously optimistic for improving activity levels in capital markets,” Dan Daviau, Canaccord’s chairman and CEO, said in a release.
Meanwhile, wealth management in North America generated $100.4 million in revenue for the quarter, a year-over-year increase of 29.4% compared to the same quarter in 2024.
Overall Canaccord had $120.4 billion in client assets as of March 31, 2025, up 15.9% compared to the same time last year.
Of the total amount, $42.7 billion was held in North America, up 11.2% compared to last year.
In Canada, the firm had 142 investment advisor teams, down slightly from 145 a year earlier.
On an adjusted basis, diluted earnings per common share for the quarter were $0.12 per common share and $0.61 per common share for the fiscal year.
In April, the company announced plans to sell its U.S. wholesale market making business. The deal is expected to close later this year.