SIEBERT FINANCIAL CORP

For the period ended Mar 31, 2025. Filed May 13, 2025.

About this filing

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.

Mar 31, 2025 · Filed May 13, 2025

SIEB$1.810.0%Stored close · as of Nov 10, 2026

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Contents

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three Months Ended March 31,
	2025	2024
Cash Flows From Operating Activities
Net income	$8,661,000	$3,687,000
Adjustments to reconcile net income to net cash used in operating activities:
Deferred income tax expense	777,000	384,000
Depreciation and amortization	415,000	255,000
Share-based compensation (1)	554,000	85,000
Interest related to contract termination liability payment	50,000	10,000
Changes in
Securities segregated for regulatory purposes	$24,389,000	$15,075,000
Receivables from customers	4,791,000	(1,904,000)
Receivables from non-customers	(195,000)	(405,000)
Receivables from and deposits with broker-dealers and clearing organizations	(2,223,000)	(5,458,000)
Securities borrowed	(68,551,000)	11,039,000
Securities owned, at fair value	(7,979,000)	(1,232,000)
Prepaid expenses and other assets	(623,000)	(328,000)
Payables to customers	(20,207,000)	(41,438,000)
Payables to non-customers	(641,000)	36,000
Drafts payable	(276,000)	108,000
Payables to broker-dealers and clearing organizations	847,000	1,522,000
Accounts payable and accrued liabilities	(430,000)	1,227,000
Securities loaned	25,726,000	(29,959,000)
Securities sold, not yet purchased, at fair value	116,000	(1,000)
Net lease liabilities	(4,000)	15,000
Taxes payable	1,058,000	1,029,000
NFS business development credits	(213,000)	(213,000)
Contract termination liability payment	(503,000)	(500,000)
Net cash used in operating activities	(34,461,000)	(46,966,000)
Cash Flows From Investing Activities
Purchase of office facilities and equipment	(63,000)	(28,000)
Purchase of software	(940,000)	(877,000)
Additions to property, office facilities, and equipment	(144,000)	(821,000)
Transaction with J2 Financial	—	(35,000)
Net cash used in investing activities	(1,147,000)	(1,761,000)
Cash Flows From Financing Activities
Draws on bank loans	—	4,800,000
RISE cash distribution	(35,000)	—
Repayments of long-term debt	(23,000)	(21,000)
Net cash (used in) / provided by financing activities	(58,000)	4,779,000
Net change in cash and cash equivalents, and cash segregated for regulatory purposes	(35,666,000)	(43,948,000)
Cash and cash equivalents, and cash segregated for regulatory purposes - beginning of period	168,458,000	164,537,000
Cash and cash equivalents, and cash segregated for regulatory purposes - end of period	$132,792,000	$120,589,000
Reconciliation of cash, cash equivalents, and cash and securities segregated for regulatory purposes
Cash and cash equivalents - end of period	$25,713,000	$2,856,000
Cash segregated for regulatory purposes - end of period	107,079,000	117,733,000
Cash and cash equivalents, and cash segregated for regulatory purposes - end of period	$132,792,000	$120,589,000
Supplemental cash flow information
Cash paid during the period for income taxes	$—	$2,000
Cash paid during the period for interest	$39,000	$41,000
Non-cash investing and financing activities
Transaction with J2 Financial (2)	$—	$350,000

(1)	Refer to Note 18 – Employee Benefit Plans for further detail.

(2)	Refer to Note 10 – Software, Net in the Company’s 2024 10-K for further information.

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