Binah Capital Group Reports Results for Second Quarter of 2026
Rhea-AI Summary
Binah Capital Group (NASDAQ: BCG, BCGWW) reported second quarter 2026 results with total advisory and brokerage assets rising 13.4% year-over-year to $31.6 billion, up from $27.8 billion. Total revenue increased 12.1% to $46.5 million versus $41.5 million in the prior-year quarter.
GAAP net income improved to $0.3 million from a net loss of $0.7 million, with GAAP diluted EPS at $(0.00) compared to $(0.06). Gross profit reached $9.8 million, up from $8.8 million. EBITDA rose to $1.0 million from $0.1 million, and adjusted EBITDA increased to $1.2 million from $0.9 million.
For the first six months of 2026, total revenues were $95.2 million versus $90.4 million, and net income was $2.2 million versus $0.4 million. As of June 30, 2026, Binah reported total assets of $71.2 million, total liabilities of $50.4 million, notes payable of $16.7 million and affiliate promissory notes of $5.3 million.
Positive
- AuM +13.4% YoY to $31.6 billion as of June 30, 2026
- Quarterly revenue +12.1% YoY to $46.5 million in Q2 2026
- Net income swing to $0.3 million from $(0.7) million in Q2 2025
- EBITDA +546% YoY to $1.0 million in Q2 2026
- Six-month net income up to $2.2 million from $0.4 million year-over-year
- Gross profit increased to $9.8 million from $8.8 million in the prior-year quarter
Negative
- Low quarterly net margin with $0.3 million net income on $46.5 million revenue
- High commissions and fees at $36.7 million of Q2 2026 expenses
- Interest expense of $0.5 million in Q2 2026 and $1.0 million for six months
- Debt load including $16.7 million notes payable and $5.3 million affiliate promissory notes
- Mezzanine preferred equity of $16.0 million in redeemable Series A convertible preferred stock
News Explained
At June 30, 2026, Binah reported $10.5 million of cash and $17.3 million of long-term debt alongside convertible preferred stock.
Binah reported second-quarter and six-month results for the periods ended
Common shares outstanding were 17,060,131 at
At
Issuing additional shares reduces an existing holder’s percentage ownership absent offsetting changes; the release gives no conversion or issuance terms for the listed preferred stock, so those counts alone do not quantify any ownership change.
Market Reaction – BCG
Following this news, BCG has gained 1.93%, reflecting a mild positive market reaction. Our momentum scanner has triggered 12 alerts so far, indicating notable trading interest and price volatility. The stock is currently trading at $1.58. Trading volume is exceptionally heavy at 6.5x the average, suggesting very strong buying interest.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 15 | Q1 earnings report | Positive | -10.3% | Profitability and asset growth improved, but the stock declined 10.33%. |
| Mar 31 | FY2025 earnings report | Positive | +18.4% | Revenue, net income, and EBITDA improved, followed by an 18.41% gain. |
| Nov 13 | Q3 earnings report | Positive | +21.4% | Revenue, assets, and profitability increased, followed by a 21.4% gain. |
| Aug 13 | Q2 earnings report | Neutral | -1.5% | Revenue and gross profit increased, while net loss remained unchanged. |
| May 15 | Q1 earnings report | Positive | +1.7% | Revenue, assets, and net income improved, followed by a 1.73% gain. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Historical earnings announcements produced both positive and negative reactions, ranging from -10.33% to 21.4%.
Key Terms
aum financial
gaap financial
ebitda financial
adjusted ebitda financial
diluted eps financial
non-gaap financial measures financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Assets Under Management (“AuM”) Increased
- Increased Net Income to
- Increased EBITDA[*] to
- Increased Total Revenue to
NEW YORK, Aug. 13, 2026 (GLOBE NEWSWIRE) -- 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 second quarter and six months ended June 30, 2026.
"Our second quarter results demonstrate that Binah is accelerating its growth in wealth management by leveraging our differentiated platform,” stated Craig Gould, Chief Executive Officer of Binah Capital Group. “Our continued momentum this quarter drove improved performance across all our key metrics. We are very pleased with the operational strength our teams demonstrated as they continue to effectively address customer needs, and we remain focused on additional opportunities to bolster our growth this year.”
Second Quarter 2026 Key Highlights
- Total advisory and brokerage assets as of June 30, 2026, grew
13.4% year-over-year to$31.6 billion , compared to$27.8 billion in last year’s second quarter. - Total revenue was approximately
$46.5 million , a12.1% increase from$41.5 million in the same period in 2025. - GAAP net income rose to
$0.3 million , a152% increase compared to a GAAP net loss of$0.7 million in the second quarter of 2025. - Gross profit* was
$9.8 million , an increase of12.6% compared to$8.8 million in the prior-year period. - GAAP diluted EPS was
$(0.00) compared to a GAAP net loss per share of$(0.06) in the prior year quarter, up94% . - EBITDA* of
$1.0 million grew546% as compared to EBITDA of$0.1 million in the prior year quarter, driven by the increase in GAAP net income. - Adjusted EBITDA* of
$1.2 million increased21% compared to$0.9 million in the prior year quarter.
* Non-GAAP Financial Measures. EBITDA and Adjusted EBITDA are non-GAAP financial measures defined as net income (loss) adjusted for depreciation expense, amortization expense, interest expense, share-based compensation 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.
Liquidity and Capital
The Company had cash and cash equivalents of
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. 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
Mary T. Conway
Conway Communications
mtconway@conwaycommsir.com
Binah Capital Media Relations
Donald Cutler or Lorene Yue
Haven Tower Group
(424) 317-4864 or (424) 317-4854
binah@haventower.com
Non-GAAP Financial Measures
EBITDA is a non-GAAP financial measure defined as net income plus interest expense, provision for income taxes, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA, a non-GAAP measure, plus share-based compensation costs. The Company presents EBITDA and Adjusted EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. EBITDA and Adjusted EBITDA are not measures of the Company’s financial performance under GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP. Additionally, Adjusted EBITDA is used in connection with the Company’s credit agreements, specifically in the calculation of financial-related covenants.
Gross profit is a non-GAAP financial measure defined as total revenue less commissions paid to financial advisors and registered representatives and other fees that generate the revenue. We consider our gross profit amounts to be non-GAAP financial measures that may not be comparable to those of others in our industry. We believe that gross profit amounts can provide investors with useful insight into our core operating performance before other costs that are general and administrative in nature.
A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP financial measures appears below in the footnotes to the table of our key operating, business and financial metrics.
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.
Binah Capital Group Consolidated Balance Sheet
| BINAH CAPITAL GROUP, INC. CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION JUNE 30, 2026 AND DECEMBER 31, 2025 (in thousands, except per share amounts) | |||||||
| Unaudited | |||||||
| June 30, 2026 | December 31, 2025 | ||||||
| ASSETS | |||||||
| Assets: | |||||||
| Cash, cash equivalents and restricted cash | $ | 10,909 | $ | 10,716 | |||
| Receivables, net: | |||||||
| Commission receivable | 10,901 | 10,441 | |||||
| Due from clearing broker | 764 | 707 | |||||
| Other | 1,199 | 1,261 | |||||
| Property and equipment, net | 273 | 342 | |||||
| Right of use assets | 3,308 | 3,097 | |||||
| Intangible assets, net | 496 | 671 | |||||
| Goodwill | 39,839 | 39,839 | |||||
| Other assets | 3,494 | 3,141 | |||||
| TOTAL ASSETS | $ | 71,183 | $ | 70,215 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Liabilities: | |||||||
| Accounts payable, accrued expenses and other liabilities | $ | 11,968 | $ | 13,103 | |||
| Commissions payable | 12,957 | 12,632 | |||||
| Operating lease liabilities | 3,425 | 3,221 | |||||
| Notes payable, net of unamortized debt issuance costs of | 16,738 | 17,679 | |||||
| Promissory notes-affiliates | 5,313 | 5,313 | |||||
| TOTAL LIABILITIES | 50,401 | 51,948 | |||||
| Mezzanine Equity: | |||||||
| Redeemable Series A Convertible Preferred Stock, par value | 16,038 | 15,668 | |||||
| Stockholders’ Equity: | |||||||
| Series B Convertible Preferred Stock, par value | 1,500 | 1,500 | |||||
| Common stock, | — | — | |||||
| Additional paid-in-capital | 23,465 | 23,709 | |||||
| Accumulated deficit | (20,258 | ) | (22,496 | ) | |||
| Accumulated other comprehensive income (loss) | 37 | (114 | ) | ||||
| Total Stockholders’ Equity and Mezzanine Equity | 20,782 | 18,267 | |||||
| TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY | $ | 71,183 | $ | 70,215 | |||
Binah Capital Group Consolidated Statement of Operations
| BINAH CAPITAL GROUP, INC. CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025 (in thousands, except per share amounts) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Revenues: | |||||||||||||||
| Revenue from Contracts with Customers: | |||||||||||||||
| Commissions | $ | 38,060 | $ | 33,998 | $ | 77,815 | $ | 75,137 | |||||||
| Advisory fees | 7,354 | 6,627 | 14,660 | 13,542 | |||||||||||
| Total Revenue from Contracts with Customers | 45,414 | 40,625 | 92,475 | 88,679 | |||||||||||
| Interest and other income | 1,102 | 872 | 2,742 | 1,752 | |||||||||||
| Total revenues | 46,516 | 41,497 | 95,217 | 90,431 | |||||||||||
| Expenses: | |||||||||||||||
| Commissions and fees | 36,656 | 32,740 | 75,169 | 73,038 | |||||||||||
| Employee compensation and benefits | 4,715 | 4,926 | 9,641 | 9,277 | |||||||||||
| Rent and occupancy | 270 | 286 | 550 | 571 | |||||||||||
| Professional fees | 451 | 713 | 980 | 1,249 | |||||||||||
| Technology fees | 788 | 690 | 1,594 | 1,443 | |||||||||||
| Interest | 516 | 543 | 1,035 | 1,109 | |||||||||||
| Depreciation and amortization | 127 | 183 | 270 | 370 | |||||||||||
| Other | 2,569 | 1,977 | 2,897 | 2,480 | |||||||||||
| Total expenses | 46,093 | 42,058 | 92,137 | 89,537 | |||||||||||
| Income (loss) before provision for income taxes | 423 | (561 | ) | 3,080 | 894 | ||||||||||
| Provision for income taxes | 86 | 93 | 842 | 516 | |||||||||||
| Net income (loss) | $ | 337 | $ | (654 | ) | $ | 2,238 | $ | 378 | ||||||
| Net income (loss) per share basic | $ | (0.00 | ) | $ | (0.06 | ) | $ | 0.09 | $ | (0.02 | ) | ||||
| Net income (loss) per share diluted | $ | (0.00 | ) | $ | (0.06 | ) | $ | 0.08 | $ | (0.02 | ) | ||||
| Weighted average shares outstanding basic | 16,813 | 16,602 | 16,782 | 16,602 | |||||||||||
| Weighted average shares outstanding diluted | 17,060 | 16,602 | 17,031 | 16,602 | |||||||||||
Binah Capital Group Reconciliation of GAAP Net Income to EBITDA and Adjusted EBITDA
EBITDA is a non-GAAP financial measure defined as net income plus interest expense, provision for income taxes, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA, a non-GAAP measure, plus share-based compensation costs. The Company presents EBITDA and Adjusted EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. EBITDA and Adjusted EBITDA are not measures of the Company’s financial performance under GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP. Additionally, Adjusted EBITDA is used in connection with the Company’s credit agreements, specifically in the calculation of financial-related covenants.
A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP financial measures appears below in the footnotes to the table of our key operating, business and financial metrics.
| For the three months ended June 30, | For the six months ended June 30, | |||||||||||||||
| EBITDA Reconciliation | 2026 | 2025 | 2026 | 2025 | ||||||||||||
| Net income | $ | 0.3 | $ | (0.7 | ) | $ | 2.2 | $ | 0.4 | |||||||
| Interest expense | 0.5 | 0.5 | 1.0 | 1.1 | ||||||||||||
| Provision for income taxes | 0.1 | 0.1 | 0.8 | 0.5 | ||||||||||||
| Depreciation and amortization | 0.1 | 0.2 | 0.3 | 0.4 | ||||||||||||
| EBITDA | 1.0 | 0.1 | 4.3 | 2.4 | ||||||||||||
| Share-based compensation | 0.2 | 0.8 | 0.5 | 0.8 | ||||||||||||
| Adjusted EBITDA | $ | 1.2 | $ | 0.9 | $ | 4.8 | $ | 3.2 | ||||||||
