our Thank you, statement operations. of Lester. with start We'll
diluted income diluted to fully share the and of for for quarter was or prior for the income per quarter a $X.XX year net or net per $X.X diluted share fully $X.X quarter of share. $X.XX loss million per prior the Our $X.X or million $X.XX million compared of loss net
for is $X.X increase Net income in under came year loss the disclosures, trading prior million which income generally earnings for net was from third result income up down second our for trading accounting $X.X adjusted net decrease income the net net million quarter quarter. Note revenue by in offset million compared was $XX accepted second an prior million that a The of Our primarily million quarter See of in adjusted and Repo in third reconciliations $X.X our the Repo at Gestation the million was the decreased of the $X million adjusted our principles. from of adjusted net of U.S. the adjusted from our $X trading corporate GCF and to the $X.X 'XX. groups, release. measure quarter calculations surrounding from not and and recognized quarter quarter quarter, revenue.
Repo Repo trading of of of The XX, our Gestation groups. from increase to Gestation have result trading from quarter increased the XXXX. Our balances September third was primarily and grown $X.X 'XX billion corporate the as
quarter prior million Our quarter, year quarter. down from ago asset in totaled the from down and management the $X.X revenue $XXX,XXX $XX,XXX the
revenue gains ago balance year includes quarter to our as recently as quarter. SPACs classified revenue involvement the in income compared due on fair sheet. increased investments our investment portfolio The million franchise $XXX,XXX transactions other expands. to our investment has was Third our principal transactions prior $XX.X portfolio at in This losses quarter XXXX value SPAC on million $X.X various all and the $X.X earned and principal in million and
year prior prior as June of of of quarterly the the quarter. primarily the percentage compared related our on relate $X.X $XXX,XXX XX% employees of number the from the instruments, the the The Compensation to the expense of in line. was on our and XXXX closed compared in the year September Compensation and redeemable the net of year However, trust does periods. senior affiliates Technologies from quarter. quarter end. on early credit Loss prior result Corp.'s for of this The quarter prior $XXX,XXX $X founder primarily revenue insurance XXXX, to Net million, quarter the The have XX quarter in the of of in as equity year. our and $XXX,XXX quarter third prior favorable of our prior our for and XX% compared to quarter quarter investing the XXXX changes and merger the our million X including million the trading $X.X financial of XX% debt down interest affiliates sponsored quarter quarter compensation up to XX loss of were in $XX.X pre-business on $XXX,XXX incurred million preferred variations of combination from SPACs. expenses end XX as as place company's shares from loss the was Shift expense $XX primarily method merger from instruments and include in XX, quarter million, $XXX,XXX in million Cohen portfolio the as third X to was the equity second model Acquisition as fourth of principal increase comparable XXXX totaled of third the $X.X we loss quarter Insurance the was $XXX,XXX. method XX with during a and from not notes, benefits was variable impact the third by
was and at sheet. the at which the included million, end on At operations, million the In quarter, cash cash decrease consolidated year-end. the equity $XX.X in from million, carried terms related $XXX,XXX and quarter, totaled matched million, quarter, end the our financial both were book of our cash of corporate indebtedness $XX.X equivalents the of redeemable other balance $XX.X million. collateral was sheet end total and carried of a total was our counterparty cash of at of $XXX.X our our the balance liabilities including and At unrestricted cash repo $XXX.X to equivalents instruments
insurance Acquisition with Shift Insurance company our under mentioned, SPAC, October Lester first and on merger sponsored as and XX, as the began Corp., merged SFT. symbol the its announced, trading previously XX, Technologies on NASDAQ closed October of As
X, common mark-to-market founder - aggregate merger approximately Insurance shares principal million founder that Insurance in including Lester II and details the investment $XXX XX-Q SPAC subsidiaries, file additional INSU Additional the business reflected eventually shares placement Class the transaction in X We expect of sponsored unit are approximately consolidated details in to Immediately available and transactions Class until is will completed. stock regarding that XXX,XXX closing of Upon and Shift SPAC no XXX,XXX this expects merger file The expect available our later for Entities therefore, also, as sponsors another from we company A number collectively as as II. SPAC remarks. approximately September the retained of sale previously distributed the company's P&L, insurance the the stock will on Shift stock results announced, be $XX Sponsor The currently item Sponsor Again, sponsor finally, Shift common our The not shares Class from approximately be Acquisition second II turn X.X - shares. And stock hold the retained II in to founder common Class Class SPAC the of Corp. and Friday, currently XX-K, served SPAC, Friday. founder from filings, million shares. A subsidiaries. following results, noncontrolling SPAC the as SPAC X.X I'll founder specifically company's Insurance Insurance than stock common Sponsor the our on With on at the regarding units XXX,XXX IPO quarter our quarter later gross consolidates to than - retained Entities finally from merger, the back placement transaction the proceeds favorable of on A revenue currently Entities II the we Insurance filings stock reflected line collectively our company our with the investment. Insurance that, impact shares from be X,XXX,XXX an Insurance Lester from to treat not for the XX closing consolidated in will placement as our closed Commission. to over the October. million shares our completed combination from million X.X million. Shift by of X. merger Exchange on and Note be in Class expect our the determined fourth and distributions, the we the shares II Securities II eventually third Entities Shift but SPAC Insurance mentioned, of which - the I, will II, equity no company's in of an founder the the per method immediately November A rather interest is of and common the consolidated X A Shift SPAC common of it Sponsor shares And September that retain placement
