DigitalBridge Group, Inc.

What they do

DigitalBridge manages and deploys capital across digital infrastructure assets, including data centers, cell towers, and fiber networks. It operates as a taxable C Corporation and generates revenue primarily from investment management fees. As of June 30, 2026, it had $40.2 billion in fee earning equity under management (FEEUM) and 303 employees.

Revenue drivers

• Investment management fees — Core revenue from managing digital infrastructure funds across value-add (DBP series), core equity, credit, and liquid securities strategies. FEEUM was $40.2 billion as of June 30, 2026.
• Fund performance and advisory fees — Additional revenue from performance fees and advisory services related to its managed funds and portfolio companies.
• Other income — Includes income from consolidated entities and other investment-related activities, contributing to quarterly revenue volatility; second quarter 2026 revenue included a significant one-time increase to $508.7 million.

Recent performance

Quarterly revenue rose sharply to $508.7 million in Q2 2026 from $72.2 million in Q1 2026 and $47.9 million in Q4 2025. Full-year 2025 revenue was $94.0 million with a net loss of $27.0 million, compared to 2024 revenue of $607.0 million and net income of $147.0 million. Diluted EPS for 2025 was $0.46 versus $0.07 in 2024. Operating cash flow improved to $259.3 million in 2025 from $60.1 million in 2024. The company maintained a $0.04 per share dividend in 2025.

Strategy

DigitalBridge is executing a transformation under the SoftBank merger, which is expected to close in the second half of 2026. The company is also pursuing the acquisition of ArcLight, a specialist investor in power and electric infrastructure, for up to $1.05 billion, to expand into power infrastructure. The ArcLight acquisition is conditional upon closing of the SoftBank merger and will be funded with cash on hand and debt. Management continues to manage its flagship DBP funds and expand investment offerings across core equity, credit, and liquid securities.

Risks

• Merger completion risk — The SoftBank merger may not close on time or at all, requiring regulatory approvals and other conditions; termination fees up to $96 million (company) or $154 million (SoftBank) apply in certain circumstances.
• Regulatory approvals — The merger and ArcLight acquisition are subject to multiple regulatory approvals, including CFIUS, FERC, FCC, and international regulators, which could delay or block the deals.
• FEEUM volatility — Revenue and FEEUM are highly variable, dependent on fund performance, investor capital flows, and market conditions, as evidenced by annual revenue swings from $821.4 million in 2023 to $94.0 million in 2025.
• Key personnel retention — The pending merger could distract management and impact retention of key employees, as noted in the company's forward-looking risk factors.

Outlook

Management expects the SoftBank merger to complete in the second half of 2026, contingent on regulatory approvals and other closing conditions. The company also expects to close the ArcLight acquisition after the merger, which is designed to expand its power and electric infrastructure capabilities. Given the pending merger, management has not provided standalone forward guidance in the latest filing.