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.

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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