| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | August 4, 2026 | 8/12 | 1 high, 6 medium flags | 1 | 1 | Call sheet → |
| Q1'26 | May 6, 2026 | 12/12 | 1 medium, 5 low flags | 4 | 0 | Call sheet → |
| Q4'25 | February 9, 2026 | 11/12 | 7 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Pending | New Markets volumes expected to exceed $5B in 2026 and eventually comprise up to half of Athene's new business Full year not complete; topic not repeated on this call at all, so no interim progress update is available. |
| Q2'26 | Pending | Athene's $11B AMAPS exposure expected to double 'over the coming months' Actual not stated on the call; this quarter only disclosed the platform-wide AMAPS total ($25B) rather than Athene's specific book. |
| Q2'26 | Pending | 100% daily pricing across the totality of the credit business by 9/30/2026 Deadline not yet reached at time of this call; current language now targets 10/1 rather than 9/30, a minor slip worth watching. |
| Q2'26 | Delivered | Daily pricing for all corporate IG fixed-income assets by 6/30/2026 Went live 7/1 for the entirety of the IG fixed-income suite, a one-day administrative slip from the stated date, effectively delivered. |
| Q2'26 | Missed | Expect Q2 origination to be 'even stronger' than Q1's $71B, with 'a shot' at approaching the $97B all-time record Actual Q2 origination was $74B, modestly above Q1 but far short of the $97B comparison point management itself introduced; the shortfall is partly a function of Broadcom's $35B being excluded from the figure. |
| Q2'26 | Pending | Reaffirmed FY2026 outlook of 20% FRE growth and 10% SRE growth Full year not yet complete; management reaffirmed confidence in both targets this quarter. |
| Q1'26 | Exceeded | Software exposure minimal vs industry 40%+ allocation Detailed breakdown confirms <2% total vs much higher peers |
| Q1'26 | Pending | FRE margin expansion ~100bps annually Q1 at 58%, on track but early in year |
| Q1'26 | Delivered | Bridge integration contributing $105M revenue, $60M expenses quarterly Q1 results consistent with Q4 run rate guidance |
| Q1'26 | Exceeded | New markets >$5B contribution from 'not in 18 months ago' $1B+ Q1 vs <$1B full year 2025, accelerating rapidly |
| Q1'26 | Delivered | $85B Athene inflows target for 2026 Q1 pace suggests achievable, $20B Q1 against target |
| Q1'26 | Pending | 10% SRE growth in 2026 assuming 11% alts return Reaffirmed despite Q1 spread compression, confident in asset origination |
| Q1'26 | Pending | 20%+ FRE growth for 2026 (non-flagship fund year) Reaffirmed guidance with Q1 results supporting trajectory |
| Q4'25 | Delivered | Record year for Athene absent of PRT market $83B inflows exceeded expectations with minimal PRT contribution |
| Q4'25 | Pending | Daily NAV on fixed income products by year-end Confirmed working toward daily NAV but no confirmation of completion |
| Q4'25 | Delivered | Asset management FRE margin expansion over time FRE margin ~57%, stable with 50bp expansion ex-Bridge |
| Q4'25 | Delivered | FRE growth 20%+ continuing into 2026 Maintained 20%+ growth guidance and delivered 23% for full year |
| Q4'25 | Exceeded | Full year SRE $3.475B, approximately 8% growth Delivered $3.4B normalized, +9% growth, above mid-single digit target |
| Q4'25 | Delivered | SRE ex notables Q4 approximately $880M Hit the specific Q4 SRE estimate provided in Q3 call |
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