Siebert Reports First Quarter 2025 Financial Results
MIAMI--(BUSINESS WIRE)-- 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.
About Siebert Financial Corp.
Siebert is a diversified financial services company and has been a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.
Siebert operates through its subsidiaries Muriel Siebert & Co., LLC, Siebert AdvisorNXT, LLC, Park Wilshire Companies, Inc., RISE Financial Services, LLC, Siebert Technologies, LLC, StockCross Digital Solutions, Ltd, and Gebbia Media LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions. Gebbia Media LLC provides entertainment and media productions including in-house marketing and advertising services for Siebert. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at www.siebert.com.
Cautionary Note Regarding Forward-Looking Statements
The statements contained in this press release, that are not historical facts, including statements about our beliefs and expectations, are 'forward-looking statements' within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by or that include the words 'may,' 'could,' 'would,' 'should,' 'believe,' 'expect,' 'anticipate,' 'plan,' 'estimate,' 'target,' 'project,' 'intend' and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.
These forward-looking statements, which reflect beliefs, objectives, and expectations as of the date hereof, are based on the best judgment of management of Siebert. All forward-looking statements speak only as of the date on which they are made. Such forward-looking statements are subject to certain risks, uncertainties and assumptions relating to factors that could cause actual results to differ materially from those anticipated in such statements, including, without limitation, the following: economic, social and political conditions, global economic downturns, including those resulting from extraordinary events; changes and volatility in tariffs and trade policies; securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting Siebert's business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; failure to maintain relationships with employees, customers, business partners or governmental entities; the inability to achieve synergies or to implement integration plans; and other consequences associated with risks and uncertainties detailed in Part I, Item 1A - Risk Factors of Siebert's Annual Report on Form 10-K for the year ended December 31, 2024, and Siebert's filings with the SEC.
Siebert cautions that the foregoing list of factors is not exclusive, and new factors may emerge, or changes to the foregoing factors may occur, that could impact its business. Siebert undertakes no obligation to publicly update or revise these statements, whether because of new information, future events or otherwise, except to the extent required by the federal securities laws.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
14 minutes ago
- Yahoo
S&P 500 ends lower; traders focus on Middle East tension
STORY: U.S. stocks ended lower on Wednesday, with the Dow unchanged, the S&P 500 slipping a quarter of one percent, and the Nasdaq losing half of one percent. Wall Street erased modest gains as tensions flared in the Middle East. Sources said the U.S. was preparing a partial evacuation of its embassy in Iraq, after a senior Iranian official said Tehran will strike U.S. bases in the region if nuclear negotiations fail and if conflict arises with the United States. Investors also awaited more details on trade talks between the U.S. and China after President Donald Trump said a deal was (quote) "done," with Beijing to supply magnets and rare earth minerals. But amid the trade developments and geopolitical tensions, BMO Chief Market Strategist Carol Schleif says the stock market continues to show resilience. 'It's clearly a market that wants to look through the short term, whether it's exhausted or not, but it wants to look through short term noise and and stick with the long term fundamentals. And the fact is is the fundamentals keep coming through solidly. You know people thought we'd see more inflation out of today's CPI report and it's not being passed on. I think companies are either- They either stocked up, they're figuring out how to absorb some of it or and or they understand that consumers are just the consumers, have had it with inflation. And so, there's a big risk to passing it on.' The latest data on consumer prices showed they increased only marginally in May, while economists expect inflation to accelerate in the coming months due to the Trump administration's import tariffs. Stocks on the move Wednesday included GameStop which fell more than 5% after the video game retailer reported a decline in first-quarter revenue. And shares of Starbucks added more than 4% after its CEO told the Financial Times that it received 'a lot of interest' for its China business. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
14 minutes ago
- Yahoo
SmartStop Prices Canadian Maple Bond Offering
LADERA RANCH, Calif., June 11, 2025--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. ("SmartStop") (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced the pricing of a Canadian Maple Bond offering. SmartStop's affiliated operating partnership, SmartStop OP, L.P., will issue CAD $500 million of series A senior unsecured notes due June 16, 2028 (the "Notes"). The Notes bear interest at a rate of approximately 3.91% per annum, payable in cash in equal semi-annual installments, commencing on December 16, 2025. The effective interest rate on the indentures after accounting for an interest rate hedge is approximately 3.85%. The Notes are rated BBB (Stable) by Morningstar DBRS. SmartStop intends to use the net proceeds from the offering to repay outstanding higher interest rate indebtedness, fund acquisitions and for general corporate purposes. The closing of the offering is expected to occur on June 16, 2025, subject to the satisfaction of customary closing conditions. The Notes will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The Notes were offered exclusively to persons resident in a Canadian province through a syndicate of agents on a private placement basis. The Notes will not be sold to investors outside of Canada. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About SmartStop Self Storage REIT, Inc. (SmartStop): SmartStop Self Storage REIT, Inc. ("SmartStop") (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of approximately 590 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 11, 2025, SmartStop has an owned or managed portfolio of 222 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 158,900 units and 17.9 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet. View source version on Contacts David Corak Senior VP of Corporate Finance and StrategySmartStop Self Storage REIT,
Business Wire
18 minutes ago
- Business Wire
SmartStop Prices Canadian Maple Bond Offering
LADERA RANCH, Calif.--(BUSINESS WIRE)--SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA), an internally managed real estate investment trust and a premier owner and operator of self-storage facilities in the United States and Canada, announced the pricing of a Canadian Maple Bond offering. SmartStop's affiliated operating partnership, SmartStop OP, L.P., will issue CAD $500 million of series A senior unsecured notes due June 16, 2028 (the 'Notes'). The Notes bear interest at a rate of approximately 3.91% per annum, payable in cash in equal semi-annual installments, commencing on December 16, 2025. The effective interest rate on the indentures after accounting for an interest rate hedge is approximately 3.85%. The Notes are rated BBB (Stable) by Morningstar DBRS. SmartStop intends to use the net proceeds from the offering to repay outstanding higher interest rate indebtedness, fund acquisitions and for general corporate purposes. The closing of the offering is expected to occur on June 16, 2025, subject to the satisfaction of customary closing conditions. The Notes will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws in the United States and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws. The Notes were offered exclusively to persons resident in a Canadian province through a syndicate of agents on a private placement basis. The Notes will not be sold to investors outside of Canada. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. About SmartStop Self Storage REIT, Inc. (SmartStop): SmartStop Self Storage REIT, Inc. ('SmartStop') (NYSE: SMA) is a self-managed REIT with a fully integrated operations team of approximately 590 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of June 11, 2025, SmartStop has an owned or managed portfolio of 222 operating properties in 23 states, the District of Columbia, and Canada, comprising approximately 158,900 units and 17.9 million rentable square feet. SmartStop and its affiliates own or manage 42 operating self-storage properties in Canada, which total approximately 35,700 units and 3.6 million rentable square feet.
