Dominari (US:DOMH)2024-11-08 21:03Revenue 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].