Burford Capital Limited (NYSE:BUR) Q3 2023 Earnings Conference Call November 9, 2023 10:00 AM ET
Company Participants
Christopher Bogart - Chief Executive Officer
Jordan Licht - Chief Financial Officer
Jonathan Molot - Chief Investment Officer
Conference Call Participants
Alexander Bowers - Berenberg
Portia Patel - Canaccord
Matthew Howlett - B. Riley
Julian Roberts - Jefferies
Operator
Thank you all for joining and good morning. I would like to welcome you all to the Burford Capital Q3 2023 Results Call. My name is Brika and I'll be your moderator for today's call. All lines are on mute for the presentation portion of the call today with an opportunity for questions and answers at the end. [Operator Instructions]
I would now like to pass the conference over to your host Christopher Bogart, CEO of Burford Capital to begin. So, Chris, please go ahead.
Christopher Bogart
Thanks very much, and hello, everybody. Thank you for joining us today. As usual, with me are Jon Molot, Burford's Chief Investment Officer, and Jordan Licht, Burford's Chief Financial Officer. And each of us will speak a little bit on this quarterly call and then we'll be happy to take your questions.
I'm going to start on slide two, sorry, slide three, which is sort of an overview synopsis of what we have to tell you today. And my fundamental message here is that we're having a blowout year. Things are just really going very, very well from our perspective. Just looking at the first number there on the slide, topline revenues are up five times.
And the thing that is really important to reflect on is that, while our success in the YPF cases is driving some of this, so too is the rest of the portfolio. And so, while in YPF, we had an extraordinary win with a judgment for more than $16 billion, the largest in the history of the issuing court. And Jon is going to talk some more about YPF when we get to a specific slide on it.
So while that's a fantastic outcome, I really want to focus on cash and on what's going on in the rest of the portfolio as well, because the portfolio really has been moving forward after its pandemic hiatus. And so what we've seen just in nine months is we've seen almost $400 million of cash come in.
And again that's not a single dollar of that cash is coming from YPF. That's all coming from the rest of the portfolio, which has been sitting slightly dormant while courts coped with the pandemic and now we've seen a real resurgence in activity.