Dominari Holdings Inc【DOMH】株式ニュース

Dominari Holdings Issues Shareholder LetterMay 13, 2026 8:00 AM
PR Newswire (US) Company Reports Revenue of $35.8 million up 395% from prior yearTotal Capital invested across all SPV Series: approximately $292 millionRecord Date of May 15th for $9 Million Dividend PaymentNEW YORK, May 13, 2026 /PRNewswire/ -- Dominari Holdings Inc. (Nasdaq: DOMH) ("Dominari" or the "Company") today issued the following letter to shareholders: Dear Shareholder,As we approach mid-year, I want to take this opportunity to thank you for being a Dominari shareholder and provide you with some updates.10Q SummaryThe year is off to a strong start. As noted in our 10Q just filed with the SEC, first quarter revenue is up significantly, and we have increased our annual recurring revenue. Highlights from the 10Q include:Revenue of $35.8 million, up 395% from the prior year's first quarter's revenue of $7.2 million.Underwriting revenues totaled $32.9 million in Q1 2026 as compared to $5.6 million for Q1 2025, representing a 488% increase.Carried interest totaled $1.1 million as compared to no such revenue in Q1 2025.The Company's annual recurring revenue (ARR) increased to $1.1 million from $0.4 million at the end of Q1 2025, reflecting an increase of 189%.I encourage all shareholders to review the 10Q, which has been filed with the SEC.Company Legacy HoldingsIn addition, I'd like to discuss the Company's portfolio of legacy holdings. Dominari's wholly owned subsidiary, Dominari Labs, holds a portfolio of investments consisting of a mix of private company equity investments, public market holdings, preferred securities, convertible instruments, and warrant-enhanced positions. Some of our positions have seen significant unrealized appreciation, led by xAI, Groq, Cerebras, Skyline Builders Group, Datacentrex, and JFB Construction Holdings. As of mid-April 2026, the market value of our holdings in Dominari Labs exceeded $5,000,000.00. It is our intent to liquidate these positions when appropriate to augment shareholder value.Special Purpose VehiclesAnother area of shareholder value is in our Special Purpose Vehicles ("SPVs"). There are speculative stories in the press about these SPVs, how they work and how Dominari runs our process. Much of what is in the media is incorrect. So, to clarify any potential confusion, I'd like to explain how our process works generally, keeping in mind that every situation is different. Generally, Dominari has two types of SPVs, "Unicorn SPVs" and "Venture SPVs." Unicorn SPVs, as the name suggests, focus on raising money to purchase shares in private companies with a valuation of one billion dollars or more, that are expected to go public. Examples of our Unicorn SPVs include the names such as, SpaceX, xAI, Groq, Cerebras.The second type of SPVs are referred to as Venture SPVs. To start, Dominari establishes a new Venture SPV for every new project. We then raise money for each new SPV, often without a specific target or use of proceeds in mind. Next, we work to identify public vehicles with operating businesses that might benefit from augmented business lines. Once a public vehicle has been identified, we conduct due diligence and collaborate with the public entity to align management with concept of augmenting its existing business. Once those issues, if any, are resolved, we then may take a position in the public entity for our clients and occasionally Dominari, through our SPVs. All of this work is done by Dominari, not our investors or advisors.Our investment thesis is simple: We identify and invest in U.S.-based leaders in new technologies that create American jobs and reduce U.S. dependence on foreign resources. The Skyline Builders/Kaz Resources transaction is an example. An American Venture SPV was formed, money was raised, and the work with Skyline Builders was performed before Kaz Resources was even approached. We then found an opportunity in Kaz Resources to lessen U.S. dependance on foreign governments for the incredibly important rare mineral of tungsten. Tungsten is crucial for the aerospace industry, military applications, electrical contacts, and heating elements. According to the U.S. Geological Survey, tungsten is not actively mined in the U.S. and approximately 80% of the world supply of tungsten is mined in China. So, in keeping with our thesis of creating American jobs and lessening our dependance on foreign governments, the combination of these two entities, created a more meaningful U.S. company that can help support America.With that background, a summary of the combined SPV data of all funds as of mid-April shows:Total capital invested across all series: approximately $292 million.Total estimated value of all series: approximately $1.27 billion.Estimated carry to Dominari: approximately $110 million.
Dominari
MasterAmerican
VenturesTotalInvested Capital$93 M$199 M$292 MEstimated Value$225 M$1.04B$1.27 BEstimated Carry$26 M$84 M$110 MThe estimated carry referenced above changes constantly, due to market conditions. However, the "carry" is potential revenue for the Company, representing significant value for our shareholders.DividendsIn addition to the above, as recently announced, the Dominari board of directors has authorized a special cash dividend of, in the aggregate, approximately $9 million, or approximately $0.31 per share. The dividend is payable on or about May 29, 2026, to DOMH's common stock shareholders and certain DOMH warrant holders (on an as-exercised basis) of record as of the close of business on May 15, 2026. This represents the second cash dividend paid this year and is in addition to the approximately $22,000,000.00 we have already paid to shareholders in the last 18 months. We believe this shows our continual efforts to return value directly to our shareholders.It is the intent of the Company to continue to work to build shareholder value and, when financially responsible, to make additional dividend distributions in the future, subject to market conditions and appropriate due diligence.On behalf of all employees, we hope you find this update helpful, and we thank you for being a Dominari shareholder.Sincerely,Anthony Hayes
CEO, Dominari Holdings Inc.For additional information about Dominari Holdings Inc., please visit: https://www.dominariholdings.com/About Dominari Holdings Inc.The Company is a holding company that, through its various subsidiaries, is currently engaged in wealth management, investment banking, sales and trading and asset management. In addition to capital investment, Dominari Holdings provides management support to the executive teams of its subsidiaries, helping them to operate efficiently and reduce cost under a streamlined infrastructure. In addition to organic growth, the Company seeks opportunities outside of its current business to enhance shareholder value, including in the AI and Data Center sectors.Dominari Securities LLC's Mission Statement:Dominari Securities LLC, a principal subsidiary of Dominari Holdings Inc., is a dynamic, forward-thinking financial services company that seeks to create wealth for all stakeholders by capitalizing on emerging trends in the financial services sector and identifying early-stage future opportunities that are expected to generate a high rate of return for investors.Securities Brokerage and Registered Investment Adviser Services are offered through Dominari Securities LLC, a Member of FINRA, MSRB and SIPC. Securities brokerage, investment adviser and other non-bank deposit investments are not FDIC insured and may lose some or all of the principal invested. You can check the background of Dominari Securities and its registered investment professionals and review its SEC Form CRS on FINRA's BrokerCheck site at https://brokercheck.finra.org. Information for Dominari Securities LLC and its registered investment professionals as well as its SEC Form CRS may also be found on FINRA's BrokerCheck site.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, which include but are not limited to the Risk Factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 relating to its business. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.Contacts:
Dominari Holdings Inc.
https://www.dominariholdings.com/
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Dominari 2025 Revenue Surges 487% in 2025, Balance Sheet Strengthens SignificantlyMarch 31, 2026 9:07 AM
PR Newswire (US)

Underwriting revenues increased nearly six-fold and liquidity and working capital more than double in 2025 NEW YORK, March 31, 2026 /PRNewswire/ -- Dominari Holdings Inc. (Nasdaq: DOMH) ("Dominari" or the "Company"), today announced highlights of its financial results for the year ended December 31, 2025, which were filed with the Securities and Exchange Commission ("SEC") in the Company's annual SEC Form 10K.

"In 2025, we achieved remarkable year over year revenue growth of nearly five times the revenue we had in 2024, reflecting strong underwriting activity, added sources of revenue, robust client engagement and disciplined operational execution," said Anthony Hayes, Chief Executive Officer of Dominari. Mr. Hayes further noted that "when excluding non-cash-based expenses, we saw a year over year proforma bottom line improvement of nearly $46 million as compared to 2024 using the same metrics." Mr. Hayes continued, "The explosive growth and expansion of our business reflect the continued efforts and leadership of Dominari's President, Mr. Kyle Wool, and his team of professionals. The Company's financial metrics have improved across the board as we focus on delivering value to our shareholders every day. We look to build upon our success in 2026, and we are excited about the opportunities ahead. Under Mr. Wool's leadership, we expect continued growth with our business model that emphasizes prudent management while also being flexible and a trusted partner to continue to provide exceptional customer service to our clients."2025 Highlights Revenue of $123.1 million, up over 487% from the prior year revenue of $21.0 million.Underwriting revenues totaled $79.0 million in 2025 as compared to $11.4 million in 2024, representing a 596% increase year over year.Carried interest totaled $22.7 million or approximately 18% of 2025 total revenue as compared to no such revenue in 2024.Loss from operations of $55.7 million, an increase of $47.0 million compared to a loss of $8.7 million in 2024, reflecting the increased expenses related to $55.0 million of non-cash stock-based compensation recorded in 2025.Other income of $42.6 million, an increase of $48.6 million compared to a loss of $6.0 million in 2024. This increase was primarily driven by the increase in the market value of the Company's strategic investment in American Bitcoin Corp., which began trading on the Nasdaq exchange on September 3, 2025 under the ticker symbol "ABTC." The Company sold its ABTC shares in January 2026 for $32.4 million in cash.Net loss to common stockholders of $22.4 million, an increase of $7.7 million compared to a net loss of $14.7 million in 2024. This increased net loss to common stockholders is as a result of a $53.4 million increase in non-cash stock-based compensation costs as well as $7.3 million of tax expense recognized in 2025.Excluding the non-cash stock-based compensation, the non-GAAP adjusted net income (loss) to common stockholders was $32.6 million as compared to a net loss of $13.1 million for 2024, or a $45.6 million increase year over year.The Company declared $22.2 million of dividends during the year including a $10.0 million dividend announced in December for shareholders of record on January 6, 2026. This represents the first time in the Company's history paying dividends, reflecting the continued commitment to drive shareholder value.The Company's liquid assets (defined as: "cash, marketable securities, securities owned and receivable from clearing brokers") totaled $94.3 million at the end of 2025, representing an increase of $67.2 million from year-end 2024 or a 248% increase, total assets increased $65.8 million or 140% to $112.9 million, and total stockholders' equity increased by $29.5 million to $69.4 million compared to $39.9 million, or a 74% increase year over year. DOMINARI HOLDINGS INC.Condensed Consolidated Balance Sheets($ in thousands except share and per share amounts)

December 31,

December 31,

2025

2024
ASSETS

Cash and cash equivalents
$34,005

$4,079
Marketable securities

46,516

4,157
Securities owned

9,756

1,616
Receivable from clearing brokers

3,995

17,279
Long-term equity investments

11,744

12,282
Loans to employees

1,767

2,150
Right-of-use assets

2,721

2,944
Notes receivable

—

902
Prepaid expenses and other assets

2,403

1,716
Total assets
$112,907

$47,125

LIABILITIES AND STOCKHOLDERS' EQUITY

Accounts payable and accrued expenses
$611

$919
Accrued compensation and commissions

17,754

2,057
Accrued dividends payable

10,335

—
Contract liabilities

4,504

1,100
Lease liability

2,841

3,039
Income taxes payable

7,318

—
Other liabilities

173

157
Total liabilities

43,536

7,272

Stockholders' equity

Preferred stock, $.0001 par value, 50,000,000 authorized

Convertible Preferred Series D: 5,000,000 shares designated; 3,825 shares issued and outstanding as of
December 31, 2025 and 2024; liquidation value of $0.0001 per share

—

—
Convertible Preferred Series D-1: 5,000,000 shares designated; 834 shares issued and outstanding as of
December 31, 2025 and 2024; liquidation value of $0.0001 per share

—

—
Common stock, $0.0001 par value, 100,000,000 shares authorized; 16,067,435 and 7,037,022 shares
issued as of December 31, 2025 and 2024, respectively; 16,067,435 and 6,976,874 shares outstanding
as of December 31, 2025 and 2024, respectively

—

—
Additional paid-in capital

337,505

263,820
Treasury stock, as of cost, 0 shares and 60,148 shares as of December 31, 2025 and 2024, respectively

—

(501)
Accumulated deficit

(268,134)

(223,466)
Total stockholders' equity

69,371

39,853
Total liabilities and stockholders' equity
$112,907

$47,125
DOMINARI HOLDINGS INC.Consolidated Statements of Operations($ in thousands except share and per share amounts)

Years Ended December 31,

2025

2024
Revenues

Underwriting services
$79,030

$11,362
Carried interest

22,681

—
Commissions

19,551

6,065
Interest income

1,272

666
Principal transactions

(872)

2,158
Other revenue

1,442

720
Total revenue

123,104

20,971

Operating costs and expenses

Compensation and benefits

145,270

21,980
Advisory fees

21,108

116
Legal fees

2,877

722
Professional and consulting fees

3,003

2,666
Other expenses

6,572

4,189
Total operating expenses

178,830

29,673
Loss from operations

(55,726)

(8,702)

Other income (expenses)

Other income

10

86
Interest income

65

293
Gain on marketable securities, net

42,276

3,085
Realized and unrealized gain (loss) on notes receivable, net

221

(2,347)
Change in carrying value of investments

—

(7,118)
Total other income (expenses)

42,572

(6,001)
Net loss before income tax expense
$(13,154)

$(14,703)
Provision for income taxes

7,318

—
Net loss

(20,472)

(14,703)
Less: Net income attributable to non-controlling interests

1,963

—
Net loss attributable to common stockholders of Dominari Holdings Inc.
$(22,435)

$(14,703)

Net loss per share, basic and diluted

Basic and Diluted
$(1.57)

$(2.38)

Weighted average number of shares outstanding, basic and diluted

Basic and Diluted

14,285,097

6,183,397
DOMINARI HOLDINGS INC.Consolidated Statements of Cash Flows($ in thousands)

Years Ended December 31,

2025

2024
Cash flows from operating activities

Net loss
$(20,472)

$(14,703)
Adjustments to reconcile net loss to net cash used in operating activities:

Amortization of right-of-use assets

223

391
Depreciation

105

105
Change in carrying value of long-term investment

—

7,118
Non-cash underwriting revenues

(27,327)

(176)
Non-cash commission expense

20,341

—
Stock-based compensation – employees

33,978

1,633
Stock-based compensation – advisors

21,029

-
Realized gain on marketable securities

(345)

(6,489)
Unrealized (gain) loss on marketable securities

(42,254)

3,116
Unrealized (gain) loss on securities owned

(1,593)

(1,440)
Realized and unrealized (gain) loss on note receivable

(221)

2,347
Changes in operating assets and liabilities:

Prepaid expenses and other assets

(451)

(122)
Receivable from clearing brokers

13,284

(9,592)
Accounts payable and accrued expenses

(309)

(117)
Accrued compensation and commissions

15,697

1,929
Contract liabilities

3,404

1,100
Right of use asset and liability, net

(198)

(410)
Income taxes payable

7,318

—
Securities owned

441

(1,616)
Other liabilities

91

135
Notes receivable, at fair value - net interest accrued

(21)

57
Net cash provided by (used in) operating activities

22,720

(16,734)

Cash flows from investing activities

Purchase of marketable securities

(18,034)

(6,210)
Sale of marketable securities

17,857

21,174
Collection of principal on note receivable

1,144

1,000
Loans to employees

—

(2,390)
Purchase of long-term investments

—

(150)
Redemption of long-term investments

538

4,316
Collection of loans to employees

383

240
Net cash provided by investing activities

1,888

17,980

Cash flows from financing activities

Cash paid for Dividends

(11,898)

—
Distributions to non-controlling interest

(1,963)

—
Cash from issuance common stock, net of offering cost

13,551

—
Cash from issuance common stock for exercised warrants

5,628

—
Net cash provided by financing activities

5,318

—

Net increase in cash and cash equivalents

29,926

1,246
Cash and cash equivalents, beginning of period

4,079

2,833

Cash and cash equivalents, end of period
$34,005

$4,079

Cash paid for interest and taxes
$485

$9

Supplemental cash flow disclosures including non-cash activities:

Transfer from long-term investment to marketable securities
$—

$1,033
Right-to-use assets established
$228

$—
Operating lease liabilities established
$228

$—
The press release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the Securities and Exchange Commission. To supplement its consolidated condensed financial statements presented in accordance with U.S. generally accepted accounting principles (GAAP), the Company provides the additional non-GAAP financial measures of operating income, net income and earnings per share. The Company believes that these non GAAP financial measures are appropriate to enhance understanding of its past performance as well as prospects for future performance. A reconciliation of the differences between these non GAAP financial measures with the most directly comparable financial measure calculated in accordance with GAAP is shown in the table below.

DOMINARI HOLDINGS, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In Thousands, Except Share and Per Share Data)
(Unaudited)

Years Ended

December 31,

20252024

Loss from Operations
$           (55,726)$          (8,702)

Non-cash stock-based compensation
55,0071,633

Adjusted Loss from Operations
$                (719)$          (7,069)

Net (loss) attributable to common stockholders' of Dominari Holdings
$           (22,435)$        (14,703)

Non-cash stock-based compensation
55,0071,633

Adjusted Net Income (loss) attributable to common stockholders' of Dominari Holdings
$             32,572$        (13,070)

Net income (loss) per share, basic and diluted

Basic
$                 2.28$            (2.11)

Weighted average number of shares outstanding, basic and diluted

Basic
14,285,0976,183,397

For additional information about Dominari Holdings Inc., please visit: https://www.dominariholdings.com/About Dominari Holdings Inc.The Company is a holding company that, through its various subsidiaries, is currently engaged in wealth management, investment banking, sales and trading and asset management. In addition to capital investment, Dominari provides management support to the executive teams of its subsidiaries, helping them to operate efficiently and reduce cost under a streamlined infrastructure. In addition to organic growth, the Company seeks opportunities outside of its current business to enhance shareholder value, including in the AI and Data Center sectors.Dominari Securities LLC's Mission Statement:Dominari Securities LLC, a principal subsidiary of Dominari Holdings Inc., is a dynamic, forward-thinking financial services company that seeks to create wealth for all stakeholders by capitalizing on emerging trends in the financial services sector and identifying early-stage future opportunities that are expected to generate a high rate of return for investors.Securities Brokerage and Registered Investment Adviser Services are offered through Dominari Securities LLC, a Member of FINRA, MSRB and SIPC. Securities brokerage, investment adviser and other non-bank deposit investments are not FDIC insured and may lose some or all of the principal invested. You can check the background of Dominari Securities LLC and its registered investment professionals and review its SEC Form CRS on FINRA's BrokerCheck site at https://brokercheck.finra.org. Information for Dominari Securities LLC and its registered investment professionals as well as its SEC Form CRS may also be found on FINRA's BrokerCheck site.Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, which include but are not limited to the Risk Factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 relating to its business. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.Contacts:Dominari Holdings Inc.
https://www.dominariholdings.com/
info@dominari.com

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Original: Dominari 2025 Revenue Surges 487% in 2025, Balance Sheet Strengthens Significantly