Burford Capital Limited disclosed its fourth‑quarter and full‑year 2025 financial results, announcing a final dividend of $0.0625 per ordinary share for the year ended December 31, 2025, payable on June 12, 2026.
The company reported a net loss of $50 million for Q4 2025, a sharp reversal from the $72 million profit recorded in the same quarter of 2024. The loss was driven by extended case durations and unrealized fair‑value adjustments that reduced the portfolio’s reported earnings, offsetting the strong growth in new business commitments.
Despite the quarterly loss, Burford’s portfolio continued to expand. New definitive commitments rose 39% year‑over‑year, and modeled portfolio realizations increased by $700 million to $5.2 billion at year‑end, underscoring a robust pipeline and a growing platform for litigation finance.
Revenue for the year reached $267.59 million, down from $311.69 million in 2024, reflecting a decline in realized gains and a shift in case outcomes. The company’s capital provision income fell 15% to $331 million, while cash receipts dropped to $530 million from $699 million, highlighting the lumpy nature of the business and the impact of longer case cycles.
Management noted that the Q4 loss and revenue decline were temporary headwinds, attributing them to extended case durations and fair‑value adjustments. The company remains confident in its long‑term strategy to double its size by 2030, citing a high‑quality portfolio and strong new‑business momentum as key drivers of future upside.
The results signal a mixed outlook: short‑term profitability is constrained by case‑duration headwinds, but the expanding portfolio and strong new‑business commitments suggest continued growth potential for the company’s litigation‑finance model.
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