DOMH

EX-99.1

2 ea028398901ex99-1.htm

PRESS RELEASE, DATED MARCH 31, 2026

Exhibit 99.1

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

Underwriting revenues increased nearly six-fold

and liquidity and working capital more than double in 2025

New York City/PRNewswire/March 31, 2026, 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.

oUnderwriting revenues totaled $79.0 million in 2025 as compared to $11.4 million in 2024, representing a 596% increase year over year.

oCarried 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.

oExcluding 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

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or Section 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 28, 2025

Dominari Holdings Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-41845

52-0849320

(State or other jurisdiction

of incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

725 5th Avenue, 22nd Floor

New York, NY 10022

(212) 393-4540

(Address, including Zip Code and Telephone Number, including

Area Code, of Principal Executive Offices)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value

DOMH

The Nasdaq Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On March 28, 2025, Dominari Holdings Inc. (the “Company”), a Delaware corporation, issued a press release announcing its preliminary revenue results for the year ended December 31, 2024 and recent business highlights of the Company. A copy of the press release is furnished hereto as Exhibit 99.1.

The information provided in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. Such information shall not be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing, except as otherwise expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit

Description

99.1

Press Release, dated March 28, 2025

104

Cover Page Interactive Data File (formatted as Inline XBRL)

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: March 28, 2025

DOMINARI HOLDINGS INC.

By:

/s/ Anthony Hayes

Name: Anthony Hayes

Title: Chief Executive Officer

2

8-K 1 document.htm

FORM 8-K FILING DOCUMENT

Form 8-K Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) November 15, 2012

Spherix Incorporated (Exact name of registrant as specified in its charter)

Delaware

000-05576

52-0849320

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

6430 Rockledge Drive, Suite 503, Bethesda, MD

20817

(Address of principal executive offices)

(Zip Code)

301-897-2540 Registrant's telephone number, including area code

Not Applicable (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[   ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[   ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[   ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[   ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 - Financial Information. Item 2.02. Results of Operations and Financial Condition.

On November 15, 2012, the Registrant issued a press release regarding its financial results for the quarter ended September 30, 2012. A copy of the press release is attached hereto as Exhibit 99.1.

The information provided in this Current Report on Form 8-K is being provided pursuant to Item 2.02 of Form 8-K. The information in this report shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by specific reference in such a filing.

Section 9 - Financial Statements and Exhibits. Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1 – Press Release dated November 15, 2012.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Spherix Incorporated (Registrant)

By:

/s/ ROBERT L. CLAYTON Robert L. Clayton Chief Financial Officer

/s/ CLAIRE L. KRUGER Claire L. Kruger Chief Executive Officer

Date: November 15, 2012