Burford Capital 3Q26 revenues $135 million, reduced by non-cash discount rate increase
Burford Capital reported unaudited results for the three and nine months ended September 30, 2026, with total revenues of $135 million for the quarter. CEO Christopher Bogart said adjusted total revenues would have been well over $200 million without a non-cash increase in market discount rates, a non-GAAP figure. The company also reported $100 million of de-leveraging, retired its nearest-term debt maturity, and collected a further $64 million after quarter-end from a 2015 vintage matter.
Key points
- 3Q26 total revenues of $135 million; management says adjusted total revenues would have been well over $200 million without a non-cash increase in market discount rates
- $100 million of de-leveraging in the quarter, including retiring the nearest-term debt maturity
- More than a half-billion dollars of cash on hand at quarter end
- $64 million in cash received after quarter end from resolution of a 2015 vintage matter, described as a 12x return
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 04, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.