$BCGWW

Binah Capital Group, Inc.

CIK:0001953984|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue from Contracts with Customers:
Commissions	$ 38,060	$ 33,998	$ 77,815	$ 75,137
Advisory fees	7,354	6,627	14,660	13,542
Total Revenue from Contracts with Customers	45,414	40,625	92,475	88,679
Interest and other income	1,102	872	2,742	1,752
Total revenues	46,516	41,497	95,217	90,431
Expenses:
Commissions and fees	36,656	32,740	75,169	73,038
Employee compensation and benefits	4,715	4,926	9,641	9,277
Rent and occupancy	270	286	550	571
Professional fees	451	713	980	1,249
Technology fees	788	690	1,594	1,443
Interest	516	543	1,035	1,109
Depreciation and amortization	127	183	270	370
Other	2,569	1,977	2,897	2,480
Total expenses	46,093	42,058	92,137	89,537
Income (loss) before provision for income taxes	423	(561)	3,080	894
Provision for income taxes	86	93	842	516
Net income (loss)	$ 337	$ (654)	$ 2,238	$ 378
Net income (loss) per share basic (in dollars per share)	$ 0	$ (0.06)	$ 0.09	$ (0.02)
Net income (loss) per share diluted (in dollars per share)	$ 0	$ (0.06)	$ 0.08	$ (0.02)
Weighted average shares outstanding: basic (in shares)	16,813	16,602	16,782	16,602
Weighted average shares outstanding: diluted (in shares)	17,060	16,602	17,031	16,602

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows From Operating Activities
Net income	$ 2,238	$ 378
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	270	328
Deferred income taxes	(41)	(78)
Amortization of debt issuance costs	74	74
Non-cash lease expense	15	313
Share-based compensation	548	392
Changes in operating assets and liabilities:
Due from clearing broker	(57)	(65)
Commissions receivable	(460)	(409)
Other receivables	62	(163)
Other assets	(317)	(1,349)
Accounts payable and accrued expenses	(979)	1,746
Commissions payable	325	241
Operating lease liabilities	(22)	(292)
Net Cash Provided By Operating Activities	1,656	1,116
Cash Flows From Investing Activities
Purchases of property and equipment	(26)	(8)
Net Cash Used In Investing Activities	(26)	(8)
Cash Flows From Financing Activities
Repayments - note payable	(1,015)	(1,015)
Dividend Series A - redeemable convertible preferred stock	(370)	(356)
Dividend Series B - redeemable convertible preferred stock	(52)	(54)
Net Cash Used In Financing Activities	(1,437)	(1,425)
Net Change in Cash, Cash Equivalents and Restricted Cash	193	(317)
Cash, Cash Equivalents and Restricted Cash - Beginning of Period	10,716	8,486
Cash, Cash Equivalents and Restricted Cash - End of Period	10,909	8,170
Cash Paid During the Period for:
Interest	963	$ 1,087
Income taxes	570
Supplemental Disclosure of Cash Flow Information
Right of use asset in exchange for operating lease liability	$ 226

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets:
Cash, cash equivalents and restricted cash	$ 10,909	$ 10,716
Receivables, net:
Commission receivable	10,901	10,441
Due from clearing broker	764	707
Other	1,199	1,261
Property and equipment, net	273	342
Right of use assets	3,308	3,097
Intangible assets, net	496	671
Goodwill	39,839	39,839
Other assets	3,494	3,141
TOTAL ASSETS	71,183	70,215
Liabilities:
Accounts payable, accrued expenses and other liabilities	11,968	13,103
Commissions payable	12,957	12,632
Operating lease liabilities	3,425	3,221
Notes payable, net of unamortized debt issuance costs of $553 and $590 as of June 30, 2026 and December 31, 2025, respectively	16,738	17,679
Promissory notes-affiliates	5,313	5,313
TOTAL LIABILITIES	50,401	51,948
Stockholders' Equity:
Common stock, $0.0001 par value, 55,000,000 authorized, 16,810,131 and 16,716,000 issued and outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Additional paid-in-capital	23,465	23,709
Accumulated deficit	(20,258)	(22,496)
Accumulated other comprehensive income (loss)	37	(114)
Total Stockholders' Equity and Mezzanine Equity	20,782	18,267
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY	71,183	70,215
Redeemable Series A Convertible Preferred Stock
Mezzanine Equity:
Redeemable Series A Convertible Preferred Stock, par value $0.0001, 2,000,000 shares authorized, 1,644,000 and 1,626,000 shares outstanding at June 30, 2026 and December 31, 2025, respectively	16,038	15,668
Series B Convertible Preferred Stock
Stockholders' Equity:
Series B Convertible Preferred Stock, par value $0.0001, 500,000 shares authorized, 150,000 shares issued and outstanding at June 30, 2026 and December 31, 2025	$ 1,500	$ 1,500