Piper Sandler (PIPR) Surpasses Estimates with 33.6% Revenue Rise, Non-GAAP EPS Up 44.5%

Piper Sandler (NYSE:PIPR) topped revenue and earnings expectations in Q4 CY2025. Revenue rose 33.6% YoY to $666.1 million, and non-GAAP profit hit $6.88 per share, 44.5% above the consensus. The stock closed flat at $334.54. Supporting context: The firm’s five-year CAGR for revenue is 9.1%, and the two-year annualized growth is 19.8%, indicating accelerating demand. Quarterly results reflected recurring business fundamentals, with non-Q4 outliers excluded. The strong print follows a period of industry-driven volatility, reinforcing the resilience of its advisory, institutional brokerage, and research services.