Editor’s note: This is part of a series of articles detailing how law firms fared financially in 2021, leading up to the Am Law 100 report on April 26 and the Am Law 200 report on May 24. The full collection is available here.

Ballard Spahr followed a lackluster financial year in 2020 with double-digit revenue growth and a more than 20% increase in profits in 2021 thanks to payoffs from investments to the firm’s finance, private equity and transactional practices.