Siebert Financial (SIEB) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue was $23.47M and operating loss was $2.87M, versus revenue of $28.92M and operating income of $10.50M in Q1 2025.

• Results reflected growth in stock borrow/stock loan and investment banking, offset by lower interest-related revenue, higher expenses, segment impairments and the prior-year $9.2M unrealized investment gain.

Financial highlights

• Net loss was $1.97M, or $(0.05) per diluted share, versus net income of $8.66M, or $0.22 per share, in Q1 2025.

• Revenue decreased to $23.47M from $28.92M; principal transactions and proprietary trading revenue was $3.93M versus $12.96M, including the prior-year equity investment gain.

• Cash used in operating activities was $26.11M, versus $34.46M in Q1 2025; cash and regulatory-segregated cash totaled $146.31M at quarter-end.

Outlook and guidance

• Management expects available cash, credit lines, capital-market access and operating cash flows to meet liquidity needs for the foreseeable future.

• Management expects continued development of the media segment’s catalogue, artist pipeline and revenue opportunities may support future operating results; timing and scale of profitability remain uncertain.