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Dominari Holdings Reports Preliminary FY 2024 Financial Results
DOMHDominari (DOMH) Prnewswire·2025-03-28 12:00

Core Insights - Dominari Holdings Inc. reported preliminary revenue of approximately 19millionfor2024,markingasignificantincreaseofabout90019 million for 2024, marking a significant increase of about 900% compared to 2.0 million in 2023 [2][4] - The company experienced strong performance in Q4 2024, with over 8.0millionoftheannualrevenuerecognizedduringthisquarter,drivenbyeffectiveexecutionofitsgrowthstrategyandrisingmarketdemandforinvestmentbankingservices[2][4]BusinessHighlights−TheCEOofDominariemphasizedthat2024wasatransformativeyearcharacterizedbysubstantialrevenuegrowth,strategicinvestments,andexpansionactivitiesaimedatenhancingthecompany′soperationalfootprint[4]−DominariHoldingsistransitioningintoadynamicholdingcompany,focusingonstrategicinvestmentsinemergingtechnologiestodriveinnovationandlong−termshareholdervalue[4]−Thecompanyisengagedinvarioussectorsincludingwealthmanagement,investmentbanking,salesandtrading,andassetmanagement,whilealsoseekingopportunitiesinAIandDataCentersectorstoenhanceshareholdervalue[5]StrategicInitiatives−Dominarico−foundedAmericanDataCentersInc.(ADC),focusingondevelopingenergy−efficientdatacenterstomeetthedemandforhigh−performancecomputinginfrastructure,holdinga328.0 million of the annual revenue recognized during this quarter, driven by effective execution of its growth strategy and rising market demand for investment banking services [2][4] Business Highlights - The CEO of Dominari emphasized that 2024 was a transformative year characterized by substantial revenue growth, strategic investments, and expansion activities aimed at enhancing the company's operational footprint [4] - Dominari Holdings is transitioning into a dynamic holding company, focusing on strategic investments in emerging technologies to drive innovation and long-term shareholder value [4] - The company is engaged in various sectors including wealth management, investment banking, sales and trading, and asset management, while also seeking opportunities in AI and Data Center sectors to enhance shareholder value [5] Strategic Initiatives - Dominari co-founded American Data Centers Inc. (ADC), focusing on developing energy-efficient data centers to meet the demand for high-performance computing infrastructure, holding a 32% stake in ADC [8] - Dominari Securities, a subsidiary, received FINRA approval to expand operations by adding 50 new seats and new office locations [8] - The company established a Bitcoin treasury strategy, currently holding 2 million in its Bitcoin treasury, with plans to continue purchasing shares of Blackrock's iShares Bitcoin Trust ETF as cash reserves grow [8]