SIEB PRESS-RELEASE SEC Filing Analysis

Latest settled — T+5d

SIEB ▲ +0.58% at T+5d

SHORT call ✗ call lost -0.58% · α vs SPY +1.03% · entry $1.71 → $1.72

Next anchor: T+20d in 5d

Currently $1.84 · -7.60% from $1.71 entry (call sign-flipped)

Entry anchored
May 15, 2026
via day open

T+1d

+1.17%

call -1.17% · α -1.82%

$1.73

settled 23d ago

T+5d

+0.58%

call -0.58% · α +1.03%

$1.72

settled 19d ago

T+20d

—

call — · α —

—

in 5d

T+60d

—

call — · α —

—

in 2mo

Price Chart

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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.

Actionable Insight

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.

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

net incomeepsgoodwilloperating expenses

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

Exchange

Nasdaq

Sector

Security Brokers, Dealers & Flotation Companies

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3296164

2 reports for SIEB

T+1T+5T+20T+60

Filters

Reports for SIEB — sortable, filterable
	Type				Now
May 15, 2026 25d ago	Press Release BEARISH ★ 5/10	$1.71 $1.72	▼ −0.58%	▲ +1.03%	$1.84 (−7.60%)
Mar 26, 2026 10w ago	Press Release NEUTRAL ★ 4/10	$1.95 $1.84	▼ −5.64%	▼ −7.27%	$1.84 (−5.64%)

US Market Status

Market Closed — Opens Thu (10h 5m)

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