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Dominari (DOMH) - 2024 Q3 - Quarterly Report
DOMHDominari (DOMH)2024-11-08 21:03

Revenue Performance - For the three months ended September 30, 2024, the Company recognized approximately 4.0millioninrevenuefromoperations,comparedto4.0 million in revenue from operations, compared to 1.0 million for the same period in 2023, indicating a 300% increase [102]. - For the nine months ended September 30, 2024, the Company recognized approximately 11.6millioninrevenuefromoperations,comparedto11.6 million in revenue from operations, compared to 1.0 million for the same period in 2023, reflecting a significant increase [105]. Operational Loss and Efficiency - The Company incurred a loss from operations of approximately 8.7millionfortheninemonthsendedSeptember30,2024,adecreasefromalossof8.7 million for the nine months ended September 30, 2024, a decrease from a loss of 16.0 million for the same period in 2023, showing improved operational efficiency [105]. Market Performance - The Company reported a realized gain of approximately 3.8milliononmarketablesecuritiesfortheninemonthsendedSeptember30,2024,comparedtoarealizedlossofapproximately3.8 million on marketable securities for the nine months ended September 30, 2024, compared to a realized loss of approximately 1.2 million for the same period in 2023, indicating a positive market performance [106]. - The Company recognized an unrealized loss of approximately 3.4milliononmarketablesecuritiesfortheninemonthsendedSeptember30,2024,highlightingongoingmarketvolatility[106].CashFlowManagement−ThecashusedinoperatingactivitiesfortheninemonthsendedSeptember30,2024,wasapproximately3.4 million on marketable securities for the nine months ended September 30, 2024, highlighting ongoing market volatility [106]. Cash Flow Management - The cash used in operating activities for the nine months ended September 30, 2024, was approximately 11.9 million, a decrease from 17.5millionforthesameperiodin2023,reflectingimprovedcashflowmanagement[113].−ThenetcashprovidedbyinvestingactivitiesfortheninemonthsendedSeptember30,2024,wasapproximately17.5 million for the same period in 2023, reflecting improved cash flow management [113]. - The net cash provided by investing activities for the nine months ended September 30, 2024, was approximately 12.5 million, a significant improvement compared to a cash outflow of (10.4)millionforthesameperiodin2023[114].−TheCompanyhasnocashflowsfromfinancingactivitiesfortheninemonthsendedSeptember30,2024,comparedtocashusedofapproximately(10.4) million for the same period in 2023 [114]. - The Company has no cash flows from financing activities for the nine months ended September 30, 2024, compared to cash used of approximately 0.9 million for the same period in 2023 [115]. Liquidity Position - As of September 30, 2024, the Company's working capital amounted to approximately $22.3 million, providing a solid liquidity position for ongoing operations [111]. Joint Venture - The Company entered into a joint venture agreement with Heritage Strategies LLC, establishing Dominari Financial Heritage Strategies LLC, with each party holding a 50% ownership interest [99].