Dominari Year to Date Revenue Increases by 14% Over 2025

PR Newswire

NEW YORK, Aug. 11, 2026

Operating loss narrows to $1.1 million for the second quarter as compared to $14.9 million for Q2 2025

NEW YORK, Aug. 11, 2026 /PRNewswire/ — Dominari Holdings Inc. (Nasdaq: DOMH) (“Dominari” or the “Company”), today announced highlights of its financial results for the quarter ended March 31, 2026, which were filed with the Securities and Exchange Commission (“SEC”) in the Company’s quarterly SEC Form 10Q.

Dominari Holdings Inc.

The Company stated that: “In the second quarter of 2026, while our revenues declined from our first quarter 2026 as well as the comparable period in 2025, due to volatility in the marketplace, we reduced our loss from operations to $1.1 million in the quarter from a $14.9 million loss from operations in the comparable period in 2025.  This was driven by holding our gross margins steady at lower levels of revenue while decreasing our operating expenses by 67% compared to the second quarter of 2025. During the quarter, we increased our deferred revenue related to our management services by $3.3 million and the annualized run-rate for recurring revenue increased by $1.2 million as compared to June of 2025.” The Company further stated that: “We continued to reward our shareholder base with a $0.31 per share dividend in the second quarter of 2026. Finally, as we move through the second half of the year, we continue to increase our presence in providing capital to the emerging sectors of the economy, and we look to continue to drive towards a model that will deliver positive operating profits and steady returns to our shareholders on a consistent basis.”

Second Quarter and First-Half Highlights

  • Operating costs and expenses decreased 67% to $17.9 million, and the operating loss narrowed 92% to $1.1 million from $14.9 million in the prior-year quarter.
  • Dominari Financial business segment remained profitable, reporting second-quarter segment net income of $2.5 million and first-half segment net income of $10.8 million.
  • First-half total revenue increased 14% to $52.6 million, driven by underwriting revenue growth of 59% to $40.9 million and commission revenue growth of 15% to $9.1 million.
  • Cash dividend payment of $9.0 million by the Company on May 29, 2026, to shareholders of record as of May 15, 2026

Second Quarter Results

Second-quarter revenue was $16.8 million, compared with $38.9 million in the second quarter of 2025. Commission revenue increased by $0.7 million, or 13%, to $6.6 million, and other revenue increased by $0.2 million, or 70%, to $0.5 million. These gains were more than offset by lower underwriting revenue due to fewer deal closings of $12.0 million, lower carried interest of $8.9 million and a near-breakeven principal transactions result compared with a $2.1 million gain in the prior year’s quarter. The Company’s annual recurring revenue (ARR) increased to $1.7 million from $0.5 million at the end of Q2, 2025, reflecting an increase of 283%.

Operating costs and expenses decreased by $35.8 million, or 67%, to $17.9 million. Compensation and benefits decreased by $37.5 million, reflecting lower commission expense and a $25.7 million reduction in stock-based compensation. As a result, the operating loss narrowed by $13.7 million, or 92%, to $1.1 million from $14.9 million in the prior-year period.

Net loss attributable to common stockholders was $5.4 million, or a loss of $0.24 per share, compared with net income attributable to common stockholders of $16.6 million, or earnings of $1.12 per share, in the second quarter of 2025. The year-over-year comparison was primarily driven by the Company’s $31.7 million valuation increase related to the investment in American Bitcoin Corp. (“ABTC”), compared with a $1.4 million decrease in valuation on its long-term investments in the current quarter, as well as a $2.4 million current-quarter income tax provision and a $0.4 million deemed dividend related to warrant inducements.

First-Half Growth and Operating Progress

For the six months ending June 30, 2026, total revenue increased by $6.3 million, or 14%, to $52.6 million compared to the six months ending June 30, 2025. Underwriting revenue increased by $15.1 million, or 59%, to $40.9 million, reflecting increased private-placement and registered-offering activity and deal flow. Commission revenue increased by $1.2 million, or 15%, to $9.1 million.

First-half operating costs and expenses declined by $2.7 million, or 3%, to $91.4 million, and the operating loss narrowed by $9.0 million, or 19%, to $38.8 million from $47.7 million in the comparable period in 2025. Consolidated net loss attributable to common stockholders was $62.8 million, as compared to a $15.9 million loss in 2025 reflecting the impact of the ABTC investment as well as a $15.2 million income tax provision in 2026.

Balance Sheet

At June 30, 2026, Dominari had $25.0 million of cash and cash equivalents, $2.4 million of marketable securities, $4.5 million of securities owned, $6.0 million receivable from clearing brokers and $10.3 million of long-term equity investments. Working capital was approximately $15.8 million, and total stockholders’ equity was $21.9 million.

Dominari Securities maintained approximately $18.2 million of net capital against a $0.6 million minimum requirement.

 

DOMINARI HOLDINGS INC.

Condensed Consolidated Balance Sheets

($ in thousands except share and per share amounts)

 

June 30,

December 31,

2026

2025

(Unaudited)

ASSETS

Cash and cash equivalents

$

25,044

$

34,005

Marketable securities

2,394

46,516

Securities owned

4,500

9,756

Receivable from clearing brokers

5,997

3,995

Long-term equity investments

10,287

11,744

Accounts receivable

591

–

Loans to employees

1,484

1,767

Right-of-use assets

2,437

2,721

Prepaid expenses and other assets

4,678

2,403

Total assets

$

57,412

$

112,907

LIABILITIES AND STOCKHOLDERS’ EQUITY

Accounts payable and accrued expenses

$

1,095

$

611

Accrued compensation and commissions

8,198

17,754

Accrued dividends payable

296

10,335

Contract liabilities

7,760

4,504

Lease liability

2,594

2,841

Income taxes payable

15,579

7,318

Other liabilities

–

173

Total liabilities

35,522

43,536

Stockholders’ equity

Preferred stock, $.0001 par value, 50,000,000 authorized

Convertible Preferred Series D: 5,000,000 shares designated; 3,825 shares issued
and outstanding as of June 30, 2026, and December 31, 2025; liquidation value of
$0.0001 per share

–

–

Convertible Preferred Series D-1: 5,000,000 shares designated; 834 shares issued
and outstanding as of June 30, 2026, and December 31, 2025; liquidation value of
$0.0001 per share

–

–

Common stock, $0.0001 par value, 100,000,000 shares authorized; 24,243,646 and
16,067,435 shares issued as of June 30, 2026, and December 31, 2025,
respectively; 24,243,646 and 16,067,435 shares outstanding as of June 30, 2026,
and December 31, 2025, respectively

2

–

Additional paid-in capital

361,734

337,505

Accumulated deficit

(339,896)

(268,134)

Total Dominari Holdings stockholders’ equity

21,840

69,371

Non-controlling interests

50

–

Total stockholders’ equity

21,890

69,371

Total liabilities and stockholders’ equity

$

57,412

$

112,907

 

DOMINARI HOLDINGS INC.

Condensed Consolidated Statements of Operations

($ in thousands except share and per share amounts)

(Unaudited)

 

Three Months Ended

Six Months Ended

June 30,

June 30,

2026

2025

2026

2025

Revenues

Underwriting services

$

7,902

$

19,858

$

40,851

$

25,770

Carried interest

1,551

10,500

2,647

10,500

Commissions

6,567

5,834

9,057

7,848

Interest income

278

334

586

372

Principal transactions

(36)

2,078

(1,568)

1,168

Other revenue

527

310

1,021

625

Total revenue

16,789

38,914

52,594

46,283

Operating costs and expenses

Compensation and benefits

14,238

51,718

82,397

67,175

Advisory fees

50

17

111

20,961

Legal fees

51

679

1,536

1,513

Professional and consulting fees

657

398

1,508

1,227

Other expenses

2,935

958

5,806

3,146

Total operating expenses

17,931

53,770

91,358

94,022

Loss from operations

(1,142)

(14,856)

(38,764)

(47,739)

Other income (expenses)

Other income

63

–

171

–

Interest income

49

30

110

51

Gain (loss) on marketable securities, net

(67)

806

(7,081)

639

Realized and unrealized gain loss on notes receivable, net

–

–

–

221

Change in carrying value of investments

(1,400)

31,680

(1,400)

32,000

Total other income (expenses)

(1,355)

32,516

(8,200)

32,911

Net (loss) income before income tax expense

(2,497)

17,660

(46,964)

(14,828)

Provision for income taxes

2,354

–

15,223

–

Net (loss) income before non-controlling interest and
deemed dividend

(4,851)

17,660

(62,187)

(14,828)

Net income attributable to non-controlling interests

(128)

(1,050)

(150)

(1,050)

Net (loss) income before deemed dividend

(4,979)

16,610

(62,337)

(15,878)

Common stock deemed dividend – inducement

(425)

–

(425)

–

Net (loss) income attributable to common stockholders of
Dominari Holdings Inc.

$

(5,404)

$

16,610

$

(62,762)

$

(15,878)

Net (loss) income per share, basic and diluted

Basic and Diluted

$

(0.24)

$

1.12

$

(3.07)

$

(1.24)

Weighted average number of shares outstanding, basic and
diluted

Basic and Diluted

22,754,753

14,830,534

20,424,457

12,814,079

 

DOMINARI HOLDINGS INC.

Condensed Consolidated Statements of Cash Flows

($ in thousands)

(Unaudited)

 

Six Months Ended

June 30,

2026

2025

Cash flows from operating activities

Net loss before non-controlling interest and deemed dividend

$

(62,187)

$

(14,828)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

Change in carrying value of long-term investment

–

(32,000)

Non-cash underwriting revenues

(10,080)

(2,994)

Non-cash commission expense

7,610

–

Stock-based compensation – employees

19,745

54,797

Stock-based compensation – advisors

61

–

Realized loss (gain) on marketable securities

6,872

(1,049)

Amortization of right-of-use assets

284

211

Depreciation

35

52

Realized gain on note receivable

–

(221)

Realized (gain) loss on securities owned

(3,420)

743

Unrealized loss (gain) on securities owned

3,271

(4,136)

Unrealized loss on marketable securities

284

670

Change in carrying value of long term investments

1,400

–

Unrealized gain on long term investments

159

–

Changes in operating assets and liabilities:

Prepaid expenses and other assets

(2,312)

(105)

Receivable from clearing brokers

(2,002)

(13,707)

Accounts receivable

(591)

–

Accounts payable and accrued expenses

485

1,693

Accrued compensation and commissions

(9,556)

10,948

Right of use asset and liability, net

(247)

(178)

Contract liabilities

3,256

1,098

Income taxes payable

8,261

–

Other liabilities

(172)

(92)

Notes receivable, at fair value – net interest accrued

–

(20)

Net cash (used in) provided by operating activities

(38,844)

882

Cash flows from investing activities

Purchase of marketable securities

(9,440)

(13,086)

Sale of marketable securities

46,406

6,852

Purchase of securities owned

(10,000)

–

Sale of securities owned

17,875

–

Purchase of long term investments

(102)

Collection of principal on note receivable

–

1,143

Sale of long-term investments

–

538

Collection of loans to employees

283

285

Net cash provided by (used in) investing activities

45,022

(4,268)

Cash flows from financing activities

Cash paid for dividends

(19,039)

(7,080)

Distributions to non-controlling interest

(100)

–

Cash from issuance common stock, net of offering cost

4,000

13,517

Cash from issuance common stock for exercised warrants

–

2,339

Net cash (used in) provided by financing activities

(15,139)

8,776

Net increase in cash and cash equivalents

(8,961)

5,390

Cash and cash equivalents, beginning of period

34,005

4,079

Cash and cash equivalents, end of period

$

25,044

$

9,469

Cash paid for interest

$

11

$

13

Cash paid for taxes

$

6,950

$

–

Deemed dividend

$

425

$

–

The press release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. To supplement its consolidated condensed financial statements presented in accordance with U.S. generally accepted accounting principles (GAAP), the Company provides the additional non-GAAP financial measures of operating income, net income and earnings per share. The Company believes that these non-GAAP financial measures are appropriate to enhance understanding of its past performance as well as prospects for future performance. A reconciliation of the differences between these non-GAAP financial measures with the most directly comparable financial measure calculated in accordance with GAAP is shown in the table below. ($ in thousands except per share amounts)

Three Months

Ended

Three Months

Ended

June 30, 2026

June 30, 2025

Loss from operations

$

(1,142)

$

(14,856)

Non-cash stock-based compensation

527

26,173

Adjusted (loss) income from operations

$

(615)

$

11,317

Net income (loss) attributable to common stockholders’ of Dominari Holdings

$

(5,404)

$

16,610

Non-cash stock-based compensation

527

26,173

Adjusted net (loss) income before income tax expense

$

(4,877)

$

42,783

Adjustment to the provision for income taxes

–

–

Adjusted net (loss) income to common stockholders’ of Dominari Holdings

(4,877)

42,783

Adjusted net (loss) income per share, basic

$

(0.21)

$

2.88

Weighted average number of shares outstanding, basic

22,754,753

14,830,534

 

Six Months

Ended

Six Months

Ended

June 30, 2026

June 30, 2025

Loss from operations

$

(38,764)

$

(47,739)

Non-cash stock-based compensation

19,806

54,799

Adjusted (loss) income from operations

$

(18,958)

$

7,060

Net loss attributable to common stockholders’ of Dominari Holdings

$

(62,762)

$

(15,878)

Non-cash stock-based compensation

19,805

54,799

Adjusted net (loss) income before income tax expense

$

(42,957)

$

38,921

Adjustment to the provision for income taxes

228

4,482

Adjusted net (loss) income to common stockholders’ of Dominari Holdings

(43,185)

34,439

Adjusted net (loss) income per share, basic

$

(2.11)

$

2.69

Weighted average number of shares outstanding, basic

20,424,457

12,814,079

For additional information about Dominari Holdings Inc., please visit: https://www.dominariholdings.com/

About Dominari Holdings Inc.

The Company is a holding company that, through its various subsidiaries, is currently engaged in wealth management, investment banking, sales and trading and asset management. In addition to capital investment, Dominari provides management support to the executive teams of its subsidiaries, helping them to operate efficiently and reduce cost under a streamlined infrastructure. In addition to organic growth, the Company seeks opportunities outside of its current business to enhance shareholder value, including in the AI and Data Center sectors.

Dominari Securities LLC’s Mission Statement:

Dominari Securities LLC, a principal subsidiary of Dominari Holdings Inc., is a dynamic, forward-thinking financial services company that seeks to create wealth for all stakeholders by capitalizing on emerging trends in the financial services sector and identifying early-stage future opportunities that are expected to generate a high rate of return for investors.

Securities Brokerage and Registered Investment Adviser Services are offered through Dominari Securities LLC, a Member of FINRA, MSRB and SIPC. Securities brokerage, investment adviser and other non-bank deposit investments are not FDIC insured and may lose some or all of the principal invested. You can check the background of Dominari Securities LLC and its registered investment professionals and review its SEC Form CRS on FINRA’s BrokerCheck site at https://brokercheck.finra.org. Information for Dominari Securities LLC and its registered investment professionals as well as its SEC Form CRS may also be found on FINRA’s BrokerCheck site.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company’s filings with the SEC, which include but are not limited to the Risk Factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, relating to its business. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

Dominari Holdings Inc.
https://www.dominariholdings.com/
info@dominari.com 

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SOURCE Dominari Holdings, Inc.

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Dominari Holdings, Inc.