Siebert Reports 2025 Financial Results
Rhea-AI Summary
Siebert Financial (NASDAQ: SIEB) reported 2025 results: revenue rose 12% to $94.2 million and stock borrow/loan revenue increased 51% to $29.0 million. Operating income fell to $5.6 million from $17.5 million amid strategic investments.
Retail customer net worth grew to $19.5 billion. Siebert invested $2.4 million in FusionIQ, began generating $0.6 million from NIL services, and extended its clearing agreement with National Financial Services through October 2030.
Positive
- Revenue +12% to $94.2M in 2025
- Stock borrow/loan revenue +51% to $29.0M
- Clearing agreement extended through October 2030
Negative
- Operating income declined from $17.5M to $5.6M, driven by investments
Key Figures
Market Reality Check
Peers on Argus
The momentum scanner only flagged TOP moving -6.74% with no news. Listed peers like DOMH (-1.9%) and MATH (-4.31%) are also down, but scanner data suggests the move in SIEB is more stock-specific than a coordinated sector rotation.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 12 | Q3 2025 earnings | Neutral | -1.1% | Revenue and stock loan growth offset by sharply lower operating income from new investments. |
| Aug 12 | Q2 2025 earnings | Neutral | -1.0% | Modest adjusted revenue growth but steep drop in adjusted operating income amid higher spending. |
| May 13 | Q1 2025 earnings | Positive | -8.8% | Very strong revenue, operating income and net income growth driven by equity investment gains. |
| Mar 31 | FY 2024 earnings | Positive | +5.6% | Double-digit revenue growth, higher EPS and rising retail net worth despite higher personnel costs. |
| Nov 12 | Q3 2024 earnings | Positive | +8.6% | Strong Q3 revenue and operating income growth with expanding stock borrow/loan activity. |
Earnings releases often highlight strong revenue growth but the stock has shown mixed reactions, including a notable selloff after very strong Q1 2025 results.
Across recent earnings releases, Siebert has reported consistent revenue expansion, from full-year 2024 growth to strong Q1 2025 results and subsequent quarters where higher technology and personnel spending compressed operating income. Stock borrow/stock loan revenue has been a recurring growth driver. Market reactions have been uneven: some strong reports in 2024 saw solid gains, while several 2025 earnings updates with robust topline growth but weaker margins were followed by negative or muted price moves. Today’s full-year 2025 update continues this theme of growth paired with investment-driven margin pressure.
Historical Comparison
In the past five earnings releases, SIEB’s average move was +0.67%, with reactions often muted or negative when margin pressure accompanied strong revenue growth.
Earnings since 2024 show a trajectory of strong topline and stock loan growth while increasing technology and business development spending compresses operating income, setting the backdrop for the mixed 2025 full-year result.
Market Pulse Summary
This announcement highlights Siebert’s 2025 shift toward growth and diversification, with revenue rising to $94.2M, stock borrow/loan revenue reaching $29.0M, and retail customer net worth increasing to $19.5B. At the same time, operating income declined to $5.6M as the company invested in FusionIQ, NIL services, and technology. Investors may watch how these initiatives scale, whether operating margins improve, and how future earnings balance growth with profitability.
Key Terms
name, image, and likeness regulatory
nil regulatory
cloud-native technical
form 10-k regulatory
AI-generated analysis. Not financial advice.
MIAMI and NEW YORK, March 30, 2026 (GLOBE NEWSWIRE) -- Siebert Financial Corp. (NASDAQ: SIEB) (“Siebert”), a diversified provider of financial services, today announced financial results for the year ended December 31, 2025.
2025 Financial and Operational Highlights*
- Revenue increased
12% to$94.2 million , compared to$83.9 million in 2024. - Stock borrow / stock loan revenue increased by
51% to$29.0 million , compared to$19.2 million in 2024. - Operating income decreased to
$5.6 million compared to$17.5 million in 2024, primarily due to the buildout of new business lines and investments in technology initiatives. - Retail customer net worth increased
9% to$19.5 billion , compared to$18.0 billion at the end of 2024.
2025 Business Highlights
- In the second quarter of 2025, Siebert made strategic investments totaling
$2.4 million in FusionIQ, a cloud-native digital wealth management platform for advisors and institutions. - In 2025, Siebert began generating a new revenue stream from Name, Image, and Likeness (“NIL”) negotiation services for collegiate athletes working with university athletic departments and NIL collectives, and generated
$0.6 million in revenue in 2025 - Effective September 2025, Siebert amended its clearing agreement with National Financial Services, extending the relationship through October 2030.
Management Commentary
“2025 was a year of growth and investment for Siebert,” said John J. Gebbia, CEO of Siebert. “We increased revenue by double digits, expanded stock loan revenue by more than
Gebbia continued, “We are building Siebert for the long term. The work we put in place during 2025 gives us a broader base entering 2026, with new diverse revenue opportunities across financial services, technology, and other growth areas. As we move through 2026, our focus is on scaling these initiatives, deepening client relationships, and converting investment into stronger long-term earnings power and shareholder value.”
Andrew Reich, CFO of Siebert, added: “The decline in operating income in 2025 was driven mainly by the cost of launching and scaling initiatives across the business, including new business development, technology investments, and strategic investments such as FusionIQ. These were planned investments intended to expand our capabilities and support future growth.”
Reich added, “We enter 2026 with a more diversified revenue base and momentum in key parts of the business. Our priority is growing recurring and higher-quality revenue streams, managing costs carefully, and improving operating margin over time.”
*Refer to Siebert’s 2025 Form 10-K, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, for additional detail.
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., Gebbia Media LLC, and Siebert Crypto, LLC. Through these entities, Siebert provides a full range of brokerage and financial advisory services, including securities brokerage; investment banking and capital markets services; investment advisory and insurance offerings; securities lending; corporate stock plan administration solutions; in addition to sports management, entertainment and media productions. 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 the 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 resulting from extraordinary events; 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 realize anticipated synergies or successfully implement new business 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, 2025, 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 as a result of new information, future events, or otherwise, except to the extent required by the federal securities laws.
For inquiries, please contact:
Deborah Kostroun
dkostroun@zitopartners.com
+1-201-403-8185
FAQ
How much did Siebert (SIEB) revenue increase in 2025 and what drove it?
Why did Siebert (SIEB) operating income fall in 2025 to $5.6 million?
What was the size of Siebert's stock borrow/loan revenue in 2025 (SIEB)?
What strategic investments did Siebert (SIEB) make in 2025 and how much were they?
Did Siebert (SIEB) change its clearing relationship in 2025 and for how long?
