BCG · Binah Capital Group, Inc.

Binah Capital Group delivered strong profitability improvements in Q1 2026 despite flat revenue of $48.7 million compared to $48.9 million in Q1 2025. Total revenue from contracts with customers was $47.1 million, comprising commissions of $39.8 million (down slightly from $41.1 million) and advisory fees of $7.3 million (up from $6.9 million), supplemented by $1.6 million in interest and other income. Gross profit expanded 18.6% to $10.2 million, driven by better expense leverage as commissions and fees expense fell to $38.5 million from $40.3 million. Operating expenses rose modestly to $7.5 million from $7.1 million, reflecting higher employee compensation. This resulted in income before taxes of $2.7 million (up from $1.5 million) and net income of $1.9 million after a $0.8 million tax provision, boosting diluted EPS to $0.09. Non-GAAP EBITDA climbed 50% to $3.3 million, with Adjusted EBITDA up 68% to $3.7 million after adding $0.4 million share-based compensation. CEO Craig Gould highlighted operational strength amid market challenges, steady revenue, and higher profitability, attributing growth to the company's hybrid platform for independent advisors. Assets under management surged 12.9% to $29.0 billion, signaling client expansion. Liquidity remained solid with $10.5 million cash against $17.7 million long-term debt. The promotion of Christopher Motta to President of World Equity Group aims to accelerate growth in that subsidiary. Management emphasized ongoing growth initiatives without specific guidance, focusing on long-term shareholder value through platform differentiation.