Quarterly ResultMay 15, 2026, 04:09 PM
Siebert Financial Q1 Net Loss $(1.97M); Revenue Down 18.8%
AI Summary
Siebert Financial Corp. reported a significant decline in its first-quarter 2026 financial performance, posting a net loss of $(1.97) million compared to a net income of $8.66 million in the prior year period. Total revenue decreased by 18.8% to $23.47 million, primarily due to a sharp drop in principal transactions and proprietary trading revenue. The company also saw a substantial increase in employee compensation and benefits, alongside goodwill and intangible asset impairments.
Key Highlights
- Siebert Financial reported a net loss of $(1.97) million in Q1 2026, compared to net income of $8.66 million in Q1 2025.
- Total revenue decreased by 18.8% to $23.47 million in Q1 2026 from $28.92 million in Q1 2025.
- Basic and diluted EPS was $(0.05) in Q1 2026, down from $0.22 in Q1 2025.
- Principal transactions and proprietary trading revenue significantly fell to $3.93 million from $12.96 million year-over-year.
- Employee compensation and benefits increased to $16.17 million in Q1 2026 from $11.92 million in Q1 2025.
- The company recorded goodwill impairment of $330,000 and intangible asset impairment of $454,000 in Q1 2026.
- Total assets decreased to $597.14 million as of March 31, 2026, from $759.04 million at December 31, 2025.
- Net cash used in operating activities was $(26.11) million in Q1 2026, an improvement from $(34.46) million in Q1 2025.
Price Impact
More from SIEB