Vinci Compass Reports Net Income of 183.6 Million Brazilian Reais and Announces Third-Quarter Results
Key Facts
Vinci Compass reported net income of 183.6 million Brazilian reais for the third quarter on November 12, 2026, in results that also included strong operating performance and a new cash distribution. The company said in its statement that fee-related earnings were 106.8 million Brazilian reais, or 1.61 reais per common share, with a margin of 34.3%. Adjusted distributable earnings were 71.0 million Brazilian reais, or 1.07 reais per share. Net income, however, included an unrealized gain of 99.0 million Brazilian reais after related taxes and expenses, tied to Galeão compensation. The chief executive said the company recorded “the highest quarterly management fees, fee-related earnings and net income in our history,” adding that the Navi acquisition closed ahead of initial expectations.
The gain tied to Galeão compensation separates reported net income from the measures the company uses to present performance related to its fee business. Fee-related earnings were 106.8 million Brazilian reais, with a margin of 34.3%, while adjusted distributable earnings were 71.0 million reais. Per common share, fee-related earnings were 1.61 reais and adjusted distributable earnings were 1.07 reais. The statement did not provide numerical comparisons for these measures with the year-earlier quarter, so the figures presented relate to the third quarter of 2026. The company said its acquisition of the Navi real estate platform closed ahead of initial expectations; it had announced completion of the acquisition on September 1, 2026. Vinci Compass also launched Vinci Permanent Capital Solutions after acquiring AustralRe, describing it as a separate business from its asset management division.
Vinci Compass had 363 billion Brazilian reais in assets under management and advisory in September 2026, putting its fee results in the context of its broader investment business. The company also declared a quarterly cash distribution of 0.17 dollars per share. Shareholders of record on November 27, 2026, are eligible, with payment scheduled for December 11. These dates link the financial announcement to a specific cash payment to shareholders in the following weeks. The chief executive said the quarter set records for quarterly management fees, fee-related earnings and net income. He also cited the Navi acquisition’s closing ahead of the initial expected date, as the company announced an expansion into permanent capital solutions through AustralRe.
Talphera reported a net loss of 4.018 million dollars for the three months ended September 30, 2026, compared with a loss of 4.436 million dollars in the same period of 2025. The company recorded no revenue in the third quarter of 2026, compared with revenue of 1 thousand dollars in the year-earlier quarter. Total operating costs and expenses were 4.136 million dollars, up from 3.423 million dollars in the third quarter of 2025. The figures show the company continuing to post losses with no quarterly revenue, although its net loss was lower than in the year-earlier period. As of September 30, cash, cash equivalents and investments totaled 14.157 million dollars, compared with 20.381 million dollars on December 31, 2025. Cash and investments therefore declined from their level at the end of last year.
On the development front, Talphera said updated market research raised the estimated peak sales of nafamostat for CRRT to more than 200 million dollars. The estimate relates to a treatment the company aims to develop for patients requiring continuous renal replacement therapy; projected sales do not represent current company revenue. The NEPHRO CRRT study is designed to enroll and evaluate 70 adult patients in U.S. intensive care units. The target population includes patients who cannot tolerate heparin or are at risk of bleeding. The company was scheduled to hold a call on its third-quarter results and business update on November 12, 2026, at 4:30 p.m. Eastern Time. The study update and market estimate come alongside a financial position still marked by no quarterly revenue and lower cash and investments than at the end of 2025.