UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________to ________ Commission File Number: 001-41845 DOMINARIHOLDINGS INC. (Exact name of registrant as specified in its charter) Delaware 52-0849320 (State o ...

Core Insights - Dominari Holdings Inc. announced a $100 million equity investment for SRM Entertainment, with the potential for a total investment of $210 million upon full warrant exercise [1][2] - Justin Sun, founder of the TRON blockchain, will join SRM as an advisor, indicating a strategic partnership [2] - The investment will enable SRM to initiate a TRON Token Treasury Strategy, capitalizing on the growing adoption of blockchain and digital assets [4] Company Overview - SRM Entertainment designs and manufactures custom merchandise for major theme parks and entertainment venues, distributing products worldwide [7] - The company’s products are based on popular entertainment franchises and include specialty items like the patented Sip With Me cups [7] Industry Context - The transaction highlights increasing institutional confidence in blockchain technology as a foundational layer for global finance [4] - TRON, founded in 2017, supports smart contracts and decentralized applications, focusing on low-cost, high-speed transactions, particularly for stablecoin transfers [3]

Anthony Hayes, CEO of Dominari Holdings stated, "Inclusion in the Russell Microcap® Index is a meaningful milestone that reflects the momentum we are building across our business. This recognition enhances our visibility amount institutional and retail investors as we continue to execute on our strategic vision and pursue opportunities for sustainable growth. We remain committed to delivering long-term value through disciplined execution, innovation and operational excellence." Russell indexes are widely us ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-41845 DOMINARI HOLDINGS INC. (Exact name of registrant as specified in its charter) (State or other j ...

Financial Performance - For the fiscal year ended December 31, 2024, the company recognized approximately $18.1 million in revenue from operations, an increase of approximately $16.1 million compared to the previous year[172]. - The company incurred a loss from operations of approximately $11.5 million in 2024, a decrease from a loss of $21.8 million in 2023[172]. - The company reported a gain of approximately $5.2 million from marketable securities for the year ended December 31, 2024, an increase of approximately $4.6 million over the prior period[173]. - The company experienced a net loss of approximately $14.7 million in 2024, influenced by various factors including changes in long-term investments and marketable securities[176]. Investment and Cash Flow - The carrying value of long-term investments decreased by approximately $7.1 million in 2024, compared to an increase of $0.8 million in 2023, resulting in a change of approximately $7.8 million[173]. - Net cash used in operating activities was approximately $15.1 million for the year ended December 31, 2024, compared to $22.2 million in 2023[176]. - Net cash provided by investing activities was approximately $16.3 million in 2024, compared to a net cash used of $7.2 million in 2023[177]. Working Capital and Future Plans - As of December 31, 2024, the company had approximately $24.4 million in working capital, with $4 million in cash and cash equivalents and $5.8 million in marketable securities[174]. - The company raised approximately $13.5 million subsequent to December 31, 2024, which is available to fund operations[174]. - The company plans to finance its activities through increased revenue, managing cash and cash equivalents, and seeking additional funds through securities sales or credit facilities[173].

Core Viewpoint - Dominari Holdings Inc. is executing an expansion strategy through the formation of American Bitcoin Corporation, focusing on industrial-scale bitcoin mining and strategic bitcoin reserve development [1][2][3] Group 1: Transaction Details - American Data Centers Inc. (ADC) has become an independent company and partnered with Hut 8 Corp to form American Bitcoin Corporation [1][2] - The transaction involved Hut contributing substantially all of its ASIC miners to ADC in exchange for a majority interest, leading to the rebranding of ADC as American Bitcoin [2] - Hut and American Bitcoin have entered into agreements for Hut to provide operational management and ASIC colocation services to American Bitcoin [2] Group 2: Strategic Goals - American Bitcoin aims to become the world's largest and most efficient pure-play bitcoin miner while building a robust strategic bitcoin reserve [3] - The transaction combines Hut's mining operations and infrastructure capabilities with Eric Trump's expertise in capital markets and decentralized financial systems [3] Group 3: Impact on Shareholders - The transaction is expected to create significant shareholder value for Dominari, with an ownership interest in American Bitcoin linked to over $100 million in revenue-producing bitcoin mining machines [4] - Dominari management and its Board of Advisors have successfully created substantial value through this strategic initiative [4] - The transaction is viewed as a milestone in Dominari's vision to evolve into a dynamic holding company focused on emerging technologies [5] Group 4: Company Overview - Dominari Holdings Inc. operates as a holding company engaged in wealth management, investment banking, sales and trading, and asset management [7] - The company seeks to enhance stockholder value through opportunities in sectors like AI and Data Centers [7] - Dominari Securities LLC, a subsidiary, aims to create wealth by capitalizing on emerging trends in the financial services sector [8]

Company Information - The company is registered on The Nasdaq Capital Market under the trading symbol DOMH [2]. - The report indicates that Dominari Holdings Inc. is not an emerging growth company [3]. - The company operates as a Delaware corporation [4]. - The address of the principal executive offices is 725 5th Avenue, 22nd Floor, New York, NY 10022 [2]. - The IRS Employer Identification Number for Dominari Holdings Inc. is 52-0849320 [2]. Financial Results - Dominari Holdings Inc. announced preliminary revenue results for the year ended December 31, 2024 [4]. - The press release detailing the financial results was issued on March 28, 2025 [4]. - The financial information provided is not deemed "filed" under the Securities Exchange Act of 1934 [5]. - The report includes a cover page interactive data file formatted as Inline XBRL [6]. Leadership - The CEO of Dominari Holdings Inc. is Anthony Hayes, who signed the report [9].

Core Insights - Dominari Holdings Inc. reported preliminary revenue of approximately $19 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 $8.0 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]

Core Viewpoint - Dominari Holdings Inc. is evolving into a broader holding company with a focus on emerging technologies, supported by the approval of its subsidiary Dominari Securities LLC's Continuing Membership Application by FINRA [1][2][3] Group 1: Company Expansion - Dominari Securities LLC has received FINRA approval for its Continuing Membership Application, allowing the addition of 50 new seats and expansion of office locations [2] - The approval is seen as a key milestone that enhances the company's capabilities in investment banking, corporate guidance, and access to capital markets [3] - The company aims to develop a valuable holdings enterprise that fosters innovation in high-growth industries [3] Group 2: Focus on Emerging Technologies - Dominari Holdings has formed and partially owns American Data Center, marking its entry into the technology infrastructure sector [4] - The company plans to invest in next-generation industries within the AI ecosystem, including data centers, renewable energy, and quantum computing [4][7] - The strategic focus on these technology sectors is expected to support early-stage companies through funding and IPO guidance [4] Group 3: Mission and Vision - Dominari Securities LLC aims to create wealth for stakeholders by capitalizing on emerging trends and identifying high-return opportunities [5] - The company positions itself as a forward-thinking financial services provider, committed to technological advancement and market expertise [5]

Revenue Performance - For the three months ended September 30, 2024, the Company recognized approximately $4.0 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 $11.6 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 $8.7 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 $3.8 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 $3.4 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 $17.5 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) 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].