Siebert Reports First Quarter 2025 Financial Results

Siebert Financial Corp. (NASDAQ: SIEB) (“Siebert”), a diversified provider of financial services, today reported financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Financial and Operational Highlights*

• Total revenue increased 41% to $28.9 million, compared to $20.5 million in the first quarter of 2024, primarily driven by an unrealized gain of $9.2 million related to an equity investment. The unrealized gain was recorded with respect to shares in a U.S private company that Siebert purchased prior to the issuer’s initial public offering, which shares were revalued following the initial public offering. These shares are currently subject to resale restrictions, and due to market volatility, including a significant decrease in price subsequent to March 31, 2025, and uncertainty around registration timing, the investment's fair value may significantly impact future financial results.
• Operating income increased 106% to $10.5 million, compared to $5.1 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment.
• Stock borrow / stock loan increased by 18% to $4.8 million, compared to $4.1 million in the first quarter of 2024.
• Net income available to common stockholders increased 135% to $8.7 million, compared to $3.7 million in the first quarter of 2024, primarily driven by the unrealized gain from the equity investment.

Recent Business Highlights

• Appointed Stefano Marrone as Chief Marketing Officer to oversee marketing for all divisions and drive initiatives that bridge entertainment and financial literacy for our clients.
• Appointed industry veteran Fredrick Scuteri as Chief Operating Officer of Muriel Siebert & Co., LLC (“MSCO”) to oversee day-to-day operations, trading infrastructure, and platform modernization.

Management Commentary*

“The first quarter of 2025 was marked by continued investment in talent and our emerging business lines,” said Chairman and CEO John J. Gebbia. This quarter reflects disciplined execution of our broader strategic vision, and we’re encouraged by the early signs of value being created through our investments in talent and innovation-driven initiatives. We are also excited to welcome industry veterans, Stefano Marrone as CMO and Fredrick Scuteri as COO of MSCO, to the Siebert family as they bring a wealth of experience and add significant value to our strategic initiatives for 2025 and beyond.”

Andrew Reich, CFO of Siebert, added: “We continue to invest in our personnel and technology to be able to grow and scale our businesses while supporting new business lines. While our results for the quarter also benefited from a $9.2 million unrealized gain tied to a strategic equity investment, the value of this investment remains subject to market conditions and timing of liquidity. Overall, these results underscore our strong positioning to drive long-term value for clients and shareholders.”

*Refer to Siebert’s 2025 Q1 10Q, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations for further detail about the results of the quarter including the unrealized gain related to the equity investment.

Notice to Investors

This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.