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Dominari Q3 revenue falls 69% on lower deal activity

By Reuters News


Overview

  • US financial services holding company's Q3 revenue declined 69% yr/yr on lower deal activity

  • Net loss narrowed sequentially to $1.9 mln from $5.4 mln in Q2

  • Company repurchased over $3.4 mln in shares under $5 mln buyback program


Outlook

  • Company did not provide specific guidance for future revenue or earnings in its press release


Result Drivers

  • LOWER DEAL ACTIVITY - Co said revenue decline was mainly due to fewer deal closings, lower carried interest, commissions, and principal transactions

  • COST REDUCTIONS - Co said operating expenses fell 65% yr/yr in Q3, mainly from lower compensation and commission costs

  • RECURRING REVENUE - Co said annualized recurring revenue from management services increased to $3.5 mln from $0.8 mln a year ago


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$16.38 mln

Q3 Net Loss

$1.94 mln

Q3 Income from Operations

-$1.88 mln


Reuters Recommended Reads

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  • Nov 9 - Affiliated Managers Group posts record AUM


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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