Exhibit 99.1

 

BINAH CAPITAL GROUP REPORTS FIRST QUARTER 2025 RESULTS

- Grew Total Revenue 18% Year-over-Year to $49 Million -

- Assets Under Management (“AuM”) Increased 3% Year-over-Year to $26 Billion -

- Net Income of $1 Million -

- Increased EBITDA^* to $2.2 Million from $(0.0) Million in the Prior Year -

New York – May 15, 2025 – Binah Capital Group, Inc. (“Binah”, “Binah Capital” or the “Company”) (NASDAQ: BCG; BCGWW), a leading financial services enterprise that owns and operates a network of industry-leading firms empowering independent financial advisors, today announced results for the quarter ended March 31, 2025.

"We once again delivered strong results, which is a continued testament to our differentiated RIA platform,” stated Craig Gould, Chief Executive Officer of Binah Capital Group. “Highlighting our business model's sustained momentum and the effective execution of our growth initiatives, we achieved double-digit year-over-year growth in both revenue and EBITDA while delivering GAAP profitability in the first quarter. Subsequent to quarter-end, we were pleased to welcome Bleakley Financial Group to the Binah family, underscoring the strength of our open-architecture platform and the confidence that leading entrepreneurial firms place in Binah. Additionally, we further expanded and strengthened our executive leadership with the appointment of Ryan Marcus as our Chief Business Development and Engagement Officer. Looking ahead, we believe our resilient and differentiated platform leaves us well-positioned to navigate the dynamic macro environment and drive long-term shareholder value.”

First Quarter 2025 Key Highlights

§ Total advisory and brokerage assets in the first quarter grew 3% year-over-year to $26 billion.

§ Total revenue increased 18% year-over-year to $49 million.

§ Gross profit of $8.6 million, compared to $7.8 million in the prior-year period.

§ Total operating expenses were $7 million, compared to $10 million in the prior-year period. The change in operating expenses was primarily due to costs incurred in the prior-year period related to the consummation of the business combination but did not occur in the first quarter of 2025.

§ GAAP net income of $1 million, compared to GAAP net loss of $(1.6) million in the prior-year period.

^*Non-GAAP Financial Measures. EBITDA is a non-GAAP financial measure defined as net income (loss) adjusted for depreciation expense, amortization expense, interest expense, and income tax. See the section captioned “Non-GAAP Financial Measures” below for a detailed description and reconciliation of such Non-GAAP financial measures to their most directly comparable GAAP financial measures, as required by Regulation G.

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§ EBITDA^* increased to $2.2 million, compared to an EBITDA of $0.0 in the prior year period. The increase was primarily attributable to higher revenue growth and lower expenses, as the first quarter 2025 did not include the business combination related costs that occurred in the prior-year period.

Liquidity and Capital

The Company had cash and cash equivalents of $9 million and outstanding long-term debt of $25 million as of March 31, 2025.

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* See "Non-GAAP Financial Measures” below for additional information and a reconciliation to GAAP for all Non-GAAP metrics.

About Binah Capital Group

Binah Capital Group (“Binah Capital”, “Binah” or the “Company,” is a financial services enterprise that owns and operates a network of industry-leading firms that empower independent financial advisors. As a national broker-dealer aggregator, Binah specializes in delivering value through its innovative hybrid-friendly model, making it an optimal platform for RIAs navigating today’s complex financial landscape. Binah’s portfolio companies are built to help advisors run, manage, and execute commission-based business seamlessly while providing best in class resources to support their advisory practice. We don’t just offer tools—we cultivate partnerships. Binah Capital Group stands alongside RIAs as a trusted ally, delivering the structure, flexibility, and cutting-edge solutions they need to succeed in an increasingly competitive marketplace.

For more, please visit: www.binahcap.com

Contact:

Binah Capital Investor Relations

ir@binahcap.com

Binah Capital Public Relations

media@binahcap.com

Non-GAAP Financial Measure

EBITDA is a non-GAAP financial measure, defined as net income (loss) adjusted for depreciation expense, amortization, interest expense and income tax. The Company presents EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. EBITDA is not a measure of the Company’s financial performance under GAAP or liquidity and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP. The principal limitations of EBITDA are that it excludes certain expenses that are required by U.S. GAAP to be recorded in our consolidated financial statements. In addition, EBITDA is subject to inherent limitations as these metrics reflect the exercise of judgment by management about which expenses are excluded or included in determining EBITDA. A reconciliation of EBITDA to Net income, the most directly comparable GAAP measure, appears below.

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Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended that are intended to be subject to the "safe harbor" created by those sections and other applicable laws. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties and factors that could cause actual results to differ materially from such statements, many of which are outside the control of Binah. Forward-looking statements include, but are not limited to statements regarding: Binah’s financial and operational outlook; Binah’s operational and financial strategies, including planned growth initiatives and the benefits thereof, Binah’s ability to successfully effect those strategies, and the expected results therefrom. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “expect,” ‎‎”intend,” “anticipate,” “goals,” “prospects,” “will,” “would,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).

While Binah believes that the assumptions concerning future events are reasonable, it cautions that there are inherent difficulties in predicting certain important factors that could impact the future performance or results of its business. The factors that could cause results to differ materially from those indicated by such forward-looking statements include, but are not limited to: our ability to comply with supervisory and regulatory compliance obligations, the risk we may be held liable for misconduct by our advisors; poor performance of our investment products and services; our ability to effectively maintain and enhance our brand and reputation; our ability to expand and retain our customer base; our future capital requirements and sources and uses of cash; the risk that an increase in government regulation of the industries and markets in which we operate could negatively impact our business; the impact of worldwide and regional political, military or economic conditions, including declines in foreign currencies in relation to the value of the U.S. dollar, hyperinflation, devaluation and significant political or civil disturbances in international markets; and the effectiveness of Binah’s control environment, including the identification of control deficiencies.

These forward-looking statements are also affected by the risk factors, forward-looking statements and challenges and uncertainties set forth in documents filed by Binah with ‎the U.S. Securities and Exchange Commission from time to time, including the Annual ‎Report on Form 10-K and Quarterly Reports on Form 10-Q and subsequent ‎periodic reports. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Binah cautions you not to place undue reliance on the ‎forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Binah assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Binah does not give any assurance that it will achieve its expectations.

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Binah Capital Group Consolidated Balance Sheet

BINAH CAPITAL GROUP, INC.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

MARCH 31, 2025 AND DECEMBER 31, 2024

(in thousands, except share amounts)

	Unaudited
	March 31, 2025			December 31, 2024
ASSETS
Assets:
Cash, cash equivalents and restricted cash	$	8,821		$	8,486
Receivables, net:
Commission receivable		9,603			9,198
Due from clearing broker		565			873
Other		1,672			938
Property and equipment, net		511			599
Right of use assets		3,574			3,730
Intangible assets, net		933			1,021
Goodwill		39,839			39,839
Other assets		2,359			1,993
Total Assets	$	67,877		$	66,677
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Accounts payable, accrued expenses and other liabilities	$	11,332		$	10,208
Commissions payable		11,460			11,468
Operating lease liabilities		3,675			3,820
Notes payable, net of unamortized debt issuance costs of $702 and $739 as of March 31, 2025 and December 31, 2024, respectively		19,091			19,561
Promissory notes-affiliates		5,313			5,442
Total Liabilities		50,870			50,499
Mezzanine Equity:
Redeemable Series A Convertible Preferred Stock, par value $0.0001, 2,000,000 shares authorized, 1,572,000 and 1,555,000 shares outstanding at March 31, 2025 and December 31, 2024		15,121			14,947
Stockholders’ Equity:
Series B Convertible Preferred Stock, par value $0.0001, 500,000 shares authorized, 150,000 shares outstanding at March 31, 2025 and December 31, 2024		1,500			1,500
Common stock, $0.0001 par value, 55,000,000 authorized, 16,602,460 issued and outstanding at March 31, 2025 December 31, 2024		—			—
Additional paid-in-capital		22,606			22,984
Accumulated deficit		(22,220	)		(23,253	)
Total Stockholders’ Equity and Mezzanine Equity		17,007			16,178
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY	$	67,877		$	66,677

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Binah Capital Group Consolidated Statement of Operations

BINAH CAPITAL GROUP, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE PERIODS ENDED MARCH 31, 2025 AND 2024

(in thousands, except per share amounts)

	Three months ended March 31,
	2025		2024
Revenues:
Revenue from Contracts with Customers:
Commissions	$	41,141	$	34,395
Advisory fees		6,916		5,685
Total Revenue from Contracts with Customers		48,057		40,080
Interest and other income		879		1,369
Total revenues		48,936		41,449
Expenses:
Commissions and fees		40,298		33,655
Employee compensation and benefits		4,351		3,457
Rent and occupancy		285		295
Professional fees		536		4,337
Technology fees		753		362
Interest		566		1,062
Depreciation and amortization		187		301
Other		503		(578	)
Total expenses		47,479		42,891
Income (loss) before provision for income taxes		1,456		(1,442	)
Provision for income taxes		423		139
Net income (loss)	$	1,033	$	(1,581	)
Net income attributable to Legacy Wentworth Management Services LLC members		—		730
Net income (loss) attributable to Binah Capital Group, Inc.	$	1,033	$	(2,311	)
Net income (loss) per share basic and diluted	$	0.06	$	(0.14	)
Weighted average shares: basic and diluted		16,602		16,566

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Binah Capital Group Reconciliation of GAAP Net Income to EBITDA

EBITDA is non-GAAP financial measure. EBITDA is defined as net income plus interest expense, provision for income taxes, and depreciation and amortization. The Company presents EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. EBITDA is not a measure of the Company’s financial performance under GAAP or liquidity and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP.

Below is a reconciliation of net income to EBITDA for the periods presented (in millions):

	For the Three Months Ended March 31,
EBITDA Reconciliation	2025		2024
Net income (loss)	$	1.0		(1.5	)
Interest expense		0.6		1.1
Provision for income taxes		0.4		0.1
Depreciation and amortization		0.2		0.3
EBITDA	$	2.2		(0.0	)

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