The earnings swing is largely non-operational (prior-year $9.2M unrealized gain, current-year impairment), but the goodwill impairment and higher expenses signal potential structural issues in the Media/Sports/Entertainment segment. Monitor the next 10-Q for revenue diversification progress and expense trajectory; the Newsmax partnership expansion could provide a catalyst for account growth later in 2026.
Price Chart
Executive Summary
Siebert Financial reported Q1 2026 revenue of $23.5M (up from $22.6M in Q1 2025, ~4% growth) but swung to a net loss of $2.0M ($0.05 loss per share) from net income of $8.7M ($0.22 EPS) a year ago, driven by a $9.2M non-cash unrealized gain in the prior-year period, impairment charges, and higher operating expenses. Core operating lines (stock borrow/stock loan +41%, advisory fees +35%, commissions +11%) showed solid growth, but the headline earnings decline and goodwill impairment dominate the narrative.
Key Financial Metrics
Key Facts
- Total revenue $23.5M in Q1 2026 vs $22.6M in Q1 2025 (~4% growth)
- Net loss of $2.0M ($0.05 loss per share) vs net income of $8.7M ($0.22 EPS) in Q1 2025
- Stock borrow/stock loan revenue +41% to $6.8M; advisory fees +35% to $1.0M; commissions +11% to $2.3M
- Impairment of goodwill and intangible asset related to Media, Sports, and Entertainment divisions
- Prior-year period included $9.2M non-cash unrealized gain on pre-IPO investment; Siebert sold majority of that position in Q1 2026, recognizing a $2.4M net gain
- Retail customer net worth $18.8B at quarter end
Financial Impact
Net loss of $2.0M vs prior-year net income of $8.7M; revenue growth of ~$0.9M YoY
Risk Factors
- Goodwill impairment suggests the Media/Sports/Entertainment division may not recover as expected
- Higher operating expenses could pressure margins if revenue growth slows
- Dependence on stock borrow/stock loan revenue (28% of total) exposes earnings to securities lending market conditions
- Small market cap ($74M) amplifies stock price sensitivity to any earnings miss
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3296164 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 18d ago | DEFA14A | $2.26 $1.95 | ▼ −13.72% | ▼ −11.75% | $1.85 (−18.14%) |
Oct 8, 2026 18d ago | DEF 14A | $2.26 $1.95 | ▲ +13.72% | ▲ +11.75% | $1.85 (+18.14%) |
Sep 25, 2026 4w ago | 8-K | $2.20 $2.20 | · 0.00% | ▲ +0.22% | $1.85 (−15.91%) |
Aug 11, 2026 10w ago | Press Release | $1.73 $2.03 | ▲ +17.34% | ▲ +17.79% | $1.85 (+6.94%) |
Jun 29, 2026 17w ago | Press Release | $1.69 $1.69 | · 0.00% | ▼ −1.39% | $1.85 (+9.47%) |
May 15, 2026 23w ago | Press Release | $1.71 $1.72 | ▼ −0.58% | ▲ +1.03% | $1.85 (−8.19%) |
Mar 26, 2026 30w ago | Press Release | $1.95 $1.84 | ▼ −5.64% | ▼ −7.27% | $1.85 (−5.13%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers