Siebert Financial Corp. reported a significant increase in its financial performance for the fiscal year ending December 31, 2024, with net revenues reaching $83.9 million, up from $71.5 million in 2023. The company’s net income also rose to $13.3 million, compared to $7.8 million in the previous year, resulting in earnings per share of $0.33, an increase from $0.21 in 2023. This growth was attributed to a 32% increase in revenue from commissions and fees, which totaled $9.6 million, and a 19% rise in stock borrow/stock loan revenue, amounting to $19.2 million.
The company experienced notable operational changes, including the acquisition of Gebbia Entertainment, LLC, which was completed in August 2024 for $1.25 million. This acquisition is part of Siebert's strategy to diversify its offerings and enhance its market presence. Additionally, Siebert established an Investment Banking and Capital Markets division in early 2025, aimed at serving middle-market clients, which reflects the company's commitment to expanding its service capabilities.
Customer engagement metrics showed positive trends, with retail customer net worth increasing by 13% to $18.0 billion and the number of retail customer accounts rising to 160,054 from 153,727 in 2023. The company also reported a significant increase in cash and cash equivalents, which rose to $32.6 million from $5.7 million in the previous year. These figures indicate a growing customer base and improved financial health, which are critical for sustaining future growth.
Siebert's outlook remains cautiously optimistic, with management highlighting the importance of ongoing investments in technology and customer service enhancements. The company plans to continue leveraging its strong capital position to explore further strategic acquisitions and expand its service offerings. However, management also acknowledged potential risks, including market volatility and regulatory changes, which could impact future performance. The company is committed to maintaining robust internal controls and compliance measures to navigate these challenges effectively.
About SIEBERT FINANCIAL CORP
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.