Binah Capital Group, Inc.

Listed Company

BCGWWCIK 0001953984NasdaqNon-AcceleratedSmaller ReportingFinance ServicesLTFY ends Dec 31

Period

FY 2025

Revenue

$187.14M

Net Income

$2.31M

Total Assets

$70.22M

Equity

$18.27M

Shares Out

16.72M

Op. Cash Flow

$5.15M

Business

Binah Capital Group, Inc. consolidates and operates retail wealth management businesses by acquiring and integrating broker-dealers, registered investment advisors and insurance firms. It provides brokerage and advisory services, custody and clearing, securities execution, insurance and alternative investment products, plus research and compliance support. Its platform uses hybrid, independent and W2 advisor models across ten affiliated entities, including broker-dealers, RIAs and insurance firms. Binah serves advisors and retail clients nationwide through branch offices, affiliated independent advisors, lift-outs, partner networks and major custodial and clearing relationships.

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
Commissions	153	139	138
Advisory fees	29	25	22
Total Revenue from Contracts with Customers	182	164	160
Interest and other income	5	5	8
Total revenues	187	169	168
Commissions and fees	149	135	136
Employee compensation and benefits	19	16	13
Rent and occupancy	1	1	1
Professional fees	2	7	5
Technology fees	3	1	2
Interest	2	4	5
Depreciation and amortization	697,000	1	1
Other	7	7	3
Total expenses	185	172	167
Income (loss) before provision for income taxes	3	−3	486,000
Provision for income taxes	303,000	1	—
Net income (loss)	2	−5	571,000
Net income attributable to Legacy Wentworth Management Services LLC members	—	730,000	—
Net income (loss) attributable to Binah Capital Group, Inc.	2	−5	571,000
Net income (loss) per share basic (in dollars per share)	0.05	−0.39	—
Net income (loss) per share diluted (in dollars per share)	0.04	−0.39	—
Weighted average shares outstanding: basic (in shares)	17	17	—
Weighted average shares outstanding: diluted (in shares)	17	17	—

Consolidated Balance Sheet

As of · 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
Cash, cash equivalents and restricted cash	11	8	8	—
Commission receivable	10	9	8	—
Due from clearing broker	707,000	873,000	631,000	—
Other	1	938,000	2	—
Property and equipment, net	342,000	599,000	974,000	—
Right of use assets	3	4	4	—
Intangible assets, net	671,000	1	2	—
Goodwill	40	40	40	—
Other assets	3	2	3	—
TOTAL ASSETS	70	67	67	—
Accounts payable, accrued expenses and other liabilities	13	10	9	—
Commissions payable	13	11	11	—
Operating lease liabilities	3	4	4	—
Notes payable, net of unamortized debt issuance costs of $590 and $739 as of December 31, 2025 and December 31, 2024, respectively	18	20	21	—
Promissory notes-affiliates	5	5	12	—
TOTAL LIABILITIES	52	50	62	—
Common stock, $0.0001 par value, 55,000,000 authorized, 16,716,000 and 16,602,460 issued and outstanding at December 31, 2025 and December 31, 2024, respectively	0	0	0	—
Additional paid-in-capital	24	23	0	—
Accumulated deficit	−22	−23	0	—
Accumulated other comprehensive (loss)	−114,000	0	—	—
Total Stockholders' Equity and Mezzanine Equity	18	16	5	5
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY	70	67	67	—

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
Depreciation and amortization	697,000	1	1
Deferred income taxes	−907,000	607,000	993,000
Amortization of debt issuance costs	148,000	645,000	103,000
Non-cash lease expense	633,000	602,000	511,000
Change in allowance for credit losses	—	468,000	—
Share-based compensation	725,000	—	—
Due from clearing broker	166,000	−242,000	−276,000
Commissions receivable	−1	−978,000	11,000
Other receivables	−323,000	181,000	291,000
Other assets	−263,000	98,000	−1
Accounts payable and accrued expenses	3	1	178,000
Commissions payable	1	792,000	−419,000
Operating lease liabilities	−599,000	−561,000	−466,000
Net Cash Provided By (Used In) Operating Activities	5	−617,000	3
Purchases of property and equipment	−61,000	−85,000	−80,000
Net Cash Used In Investing Activities	−61,000	−85,000	−80,000
Borrowings under note payable	—	20	—
Payment of debt issuance costs	—	−739,000	—
Repayment - notes payable	−2	−21	−2
Repayment of promissory notes-affiliates	—	−3	−126,000
Repayment of borrowings from members	—	−903,000	—
Net payment for reverse merger and recapitalization	—	−8	—
Proceeds from Series A redeemable convertible preferred stock issuance	—	14	—
Proceeds from Series B convertible stock issurance	—	2	—
Dividend Series A - redeemable convertible preferred stock	−724,000	−547,000	—
Dividend Series B - redeemable convertible preferred stock	−106,000	—	—
Proceeds from exercise of warrants	—	416,000	—
Distribution of capital	—	−85,000	−200,000
Net Cash (Used In) Provided By Financing Activities	−3	2	−3
Net Change in Cash, Cash Equivalents and Restricted Cash	2	865,000	−228,000
Interest	2	3	4
Income taxes	469,000	271,000	—

Filings

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