Dominari Q3 revenue falls 69% on lower deal activity
DOMH•Dominari's Q3 revenue fell 69% year over year to $16.38 million on lower deal activity. Its net loss narrowed to $1.94 million from $5.4 million in Q2, and it repurchased more than $3.4 million in shares.
1. Quarterly results
Dominari reported Q3 revenue of $16.38 million, down 69% year over year, mainly due to fewer deal closings, lower carried interest, commissions and principal transactions. Its net loss narrowed sequentially to $1.94 million from $5.4 million in Q2.
2. Costs and buybacks
Operating expenses fell 65% year over year, mainly from lower compensation and commission costs. Annualized recurring revenue from management services rose to $3.5 million from $0.8 million a year earlier. The company repurchased more than $3.4 million in shares under its $5 million buyback program and provided no specific future revenue or earnings guidance.
