SIEBERT FINANCIAL CORP
For the period ended Jun 30, 2024. Filed Aug 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 14, 2024
SIEB$1.810.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenue | ||||
| Commissions and fees | $2,603,000 | $1,858,000 | $4,903,000 | $3,705,000 |
| Interest, marketing and distribution fees | 7,835,000 | 7,416,000 | 16,598,000 | 14,389,000 |
| Principal transactions and proprietary trading | 3,574,000 | 2,654,000 | 7,080,000 | 5,454,000 |
| Market making | 437,000 | 268,000 | 1,109,000 | 613,000 |
| Stock borrow / stock loan | 4,696,000 | 4,513,000 | 8,794,000 | 7,955,000 |
| Advisory fees | 551,000 | 471,000 | 1,041,000 | 915,000 |
| Other income | 1,167,000 | 412,000 | 1,794,000 | 731,000 |
| Total Revenue | 20,863,000 | 17,592,000 | 41,319,000 | 33,762,000 |
| Expenses | ||||
| Employee compensation and benefits | 10,307,000 | 8,080,000 | 20,683,000 | 15,047,000 |
| Clearing fees, including execution costs | 238,000 | 329,000 | 666,000 | 684,000 |
| Technology and communications | 880,000 | 793,000 | 1,756,000 | 1,582,000 |
| Other general and administrative | 1,070,000 | 1,119,000 | 2,099,000 | 2,212,000 |
| Data processing | 732,000 | 741,000 | 1,483,000 | 1,592,000 |
| Rent and occupancy | 378,000 | 491,000 | 875,000 | 969,000 |
| Professional fees | 1,240,000 | 1,007,000 | 2,277,000 | 2,081,000 |
| Depreciation and amortization | 336,000 | 261,000 | 591,000 | 451,000 |
| Interest expense | 60,000 | 94,000 | 111,000 | 182,000 |
| Advertising and promotion | 43,000 | 18,000 | 97,000 | (10,000) |
| Total Expenses | 15,284,000 | 12,933,000 | 30,638,000 | 24,790,000 |
| Operating income | 5,579,000 | 4,659,000 | 10,681,000 | 8,972,000 |
| Impairment of investments | — | (1,035,000) | — | (1,035,000) |
| Earnings of equity method investment in related party | — | 73,000 | — | 111,000 |
| Non-operating loss | — | (962,000) | — | (924,000) |
| Income before provision for income taxes | 5,579,000 | 3,697,000 | 10,681,000 | 8,048,000 |
| Provision for income taxes | 1,532,000 | 969,000 | 2,947,000 | 2,105,000 |
| Net income | 4,047,000 | 2,728,000 | 7,734,000 | 5,943,000 |
| Less net income attributable to noncontrolling interests | 7,000 | 25,000 | 6,000 | 44,000 |
| Net income available to common stockholders | $4,040,000 | $2,703,000 | $7,728,000 | $5,899,000 |
| Net income available to common stockholders per share of common stock | ||||
| Basic and diluted | $0.10 | $0.07 | $0.19 | $0.17 |
| Weighted average shares outstanding | ||||
| Basic and diluted | 39,890,606 | 36,410,018 | 39,830,002 | 34,468,460 |
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