SIEBERT FINANCIAL CORP

Listed Company

SIEBCIK 0000065596NasdaqNon-AcceleratedSmaller ReportingSecurity Brokers, Dealers & Flotation CompaniesNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$94.20M

Net Income

$5.12M

Total Assets

$759.04M

Equity

$89.16M

Shares Out

40.94M

Op. Cash Flow

$10.24M

Business

SIEBERT FINANCIAL CORP is a diversified financial services firm that provides brokerage, investment advisory, insurance and corporate stock plan administration services alongside media and entertainment activities. Its main products and services include retail and self-directed brokerage, market making and securities finance, managed and robo-advisory portfolios, corporate equity compensation solutions, insurance products, technology development and media/entertainment services. Key business segments operate through subsidiaries including Muriel Siebert & Co. (brokerage and market making), Siebert AdvisorNXT (RIA/robo-advisor), Park Wilshire (insurance), Siebert Technologies, RISE Financial Services and Gebbia Entertainment. The company distributes services via online platforms, branch offices, correspondent clearing relationships and institutional channels across U.S. markets and to clients internationally.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Commissions and fees	9	10	7	7	18
Interest, marketing and distribution fees	28	32	30	17	13
Principal transactions and proprietary trading	17	15	13	4	16
Market making	2	2	1	2	6
Stock borrow / stock loan	29	19	16	15	12
Advisory fees	3	2	2	2	2
Other income	5	3	2	3	1
Investment banking	769,000	—	—	—	—
Total Revenue	94	84	72	50	68
Employee compensation and benefits	58	44	32	29	36
Clearing fees, including execution costs	2	2	2	2	5
Technology and communications	5	4	3	4	5
Other general and administrative	7	4	4	4	4
Data processing	4	3	3	3	3
Rent and occupancy	2	2	2	2	2
Professional fees	6	6	4	3	3
Depreciation and amortization	2	1	2	995,000	1
Interest expense	452,000	262,000	263,000	—	—
Advertising and promotion	1	348,000	155,000	—	—
Total Expenses	89	66	53	50	61
Operating income	6	17	18	440,000	7
Income before provision for income taxes	6	17	11	−4	7
Provision for income taxes	445,000	4	3	−1	2
Net income	5	13	8	−3	5
Less net income attributable to noncontrolling interests	—	17,000	18,000	−1	−30,000
Net income available to common stockholders	5	13	8	—	—
Basic (in Dollars per share)	0.13	0.33	0.21	−0.06	0.16
Diluted (in Dollars per share)	0.13	0.33	0.21	−0.06	0.16
Basic (in Shares)	40	40	37	32	31
Diluted (in Shares)	40	40	37	32	31

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-06-30	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	22	—	33	6	24
Cash and securities segregated for regulatory purposes; (Cash of $151.0 million, securities with a fair value of $34.6 million as of December 31, 2025; Cash of $135.8 million, securities with a fair value of $68.8 million as of December 31, 2024)	186	—	205	274	—
Receivables from customers	73	—	84	73	52
Receivables from broker-dealers and clearing organizations	7	—	4	4	9
Receivables from non-customers	2	—	607,000	241,000	100,000
Other receivables	5	—	3	2	2
Prepaid expenses and other assets	4	—	2	2	2
Securities borrowed	408	—	139	395	337
Securities owned, at fair value	20	—	21	18	3
Taxes receivable	142,000	—	—	—	—
Total Current assets	727	—	492	774	705
Deposits with broker-dealers and clearing organizations	6	—	4	—	—
Property, office facilities, and equipment, net	10	—	10	9	8
Software, net	6	—	5	1	991,000
Intangible assets, net	908,000	—	697,000	—	—
Lease right-of-use assets	2	—	2	3	2
Investments, cost	2	2	—	—	850,000
Deferred tax assets	3	—	3	5	4
Goodwill	2	—	2	2	2
Total Assets	759	—	520	802	728
Payables to customers	237	—	227	290	321
Payables to non-customers	7,000	—	3	713,000	12
Drafts payable	3	—	1	2	2
Payables to broker-dealers and clearing organizations	769,000	—	444,000	481,000	660,000
Accounts payable and accrued liabilities	5	—	5	4	3
Taxes payable	—	—	2	2	1
Securities loaned	407	—	185	419	327
Securities sold, not yet purchased, at fair value	219,000	—	26,000	2,000	2,000
Other deferred revenue	70,000	—	—	—	—
Current portion of contract termination liability	819,000	—	2	2	—
Current portion of deferred contract incentive	960,000	—	496,000	84,000	1
Current portion of lease liabilities	1	—	886,000	759,000	1
Current portion of debt	5	—	88,000	—	—
Total Current liabilities	661	—	428	722	670
Contract termination liability, less current portion	—	—	819,000	3	—
Deferred contract incentive, less current portion	4	—	—	—	—
Lease liabilities, less current portion	1	—	2	2	1
Debt, less current portion	4	—	4	4	6
Total Liabilities	670	—	435	731	678
Commitments and Contingencies	—	—	—	—	—
Common stock, $0.01 par value; 100,000,000 shares authorized; 41,435,936 shares issued and 40,435,936 shares outstanding as of December 31, 2025, respectively. 41,120,936 shares issued and 40,120,936 shares outstanding as of December 31, 2024, respectively.	415,000	—	412,000	406,000	325,000
Treasury stock, at cost; 1,000,000 shares held as of both December 31, 2025 and December 31, 2024.	−3	—	−3	−3	—
Additional paid-in capital	46	—	46	45	30
Retained earnings	45	—	40	27	19
Total Stockholders equity	89	—	84	70	49
Noncontrolling interests	—	—	1	989,000	971,000
Total Equity	89	—	85	71	50
Total Liabilities and Equity	759	—	520	802	728

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax expense	2	1	−107,000	−655,000	—
Share-based compensation	2	460,000	—	461,000	—
Interest related to contract termination liability payment	255,000	102,000	—	—	—
Securities segregated for regulatory purposes	34	47	25	—	—
Receivables from customers	11	−12	—	—	—
Receivables from non-customers	−1	−366,000	−141,000	−19,000	−81,000
Receivables from and deposits with broker-dealers and clearing organizations	−4	4	−1	3	9
Securities borrowed	−269	256	−58	603	−34
Securities owned, at fair value	2	−3	−15	787,000	−1
Prepaid expenses and other assets	−3	−862,000	−269,000	−335,000	−51,000
Payables to customers	10	−63	−32	−55	−4
Payables to non-customers	−3	3	−11	−6	6
Drafts payable	1	−395,000	−658,000	580,000	−2
Payables to broker-dealers and clearing organizations	325,000	−37,000	−179,000	406,000	−2
Accounts payable and accrued liabilities	−837,000	2	1	−1	−100,000
Securities loaned	222	−234	92	−605	11
Securities sold, not yet purchased, at fair value	193,000	24,000	—	−22,000	3,000
Net lease liabilities	−40,000	33,000	69,000	−90,000	−51,000
Taxes payable / receivable	−2	−130,000	1	−696,000	1
Deferred contract incentive	4	−750,000	−750,000	−750,000	3
Contract termination payment	−2	−2	—	—	—
Other deferred revenue	70,000	—	—	—	—
Net cash provided by operating activities	10	10	−5	−25	6
Purchase of office facilities and equipment	−552,000	−223,000	−223,000	−284,000	−296,000
Purchase of software	−2	−3	−894,000	−830,000	−343,000
Additions to property, office facilities, and equipment	−632,000	−1	−1	—	—
Acquisition of BMLG assets	−441,000	—	—	−284,000	−296,000
Investment in FusionIQ	−2	—	—	—	—
Media production cost	−442,000	—	—	—	—
Transaction with J2 Financial	—	−35,000	—	—	—
Cash paid in a business acquisition, net of cash and cash equivalents acquired	—	−1	—	—	—
Net cash used in investing activities	−7	−6	−3	−2	−8
Bank loan - short term	5	—	—	—	—
RISE cash distribution	−35,000	—	—	—	—
RISE share repurchase	−4	—	—	—	—
Repayments of long-term debt	−89,000	−85,000	—	—	—
Net cash provided by (used in) financing activities	1	−85,000	13	−4	5
Net change in cash and cash equivalents, and cash segregated for regulatory purposes	5	4	6	−31	2
Cash paid, net of refunds received during the year for income taxes	792,000	3	—	—	—
Cash paid during the year for interest	197,000	160,000	263,000	440,000	361,000
Transaction with J2 Financial	—	350,000	—	—	—
Share-based compensation	—	270,000	—	—	—
RISE share repurchase - payable portion	119,000	—	—	—	—
RISE tax impact	1	—	—	—	—

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