Company: BCG
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001410578-25-000663
Chunk: 43

Company: Binah Capital Group, Inc.
Filing Date: 2025-04-08
Form: 424B3
Chunk 43
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 core operating performance before other costs that are general and administrative in nature.

EBITDA and Adjusted EBITDA

EBITDA is a non-GAAP financial measure defined as net income plus interest expense, provision for income taxes, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA, a non-GAAP measure, plus non-recurring costs related to our business combination, as well as re-financing the senior credit facility. The Company presents EBITDA and Adjusted EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. EBITDA and Adjusted EBITDA are not a measure of the Company’s financial performance under GAAP and should not be considered as an alternative to net income or any other performance measure derived in accordance with GAAP.

A reconciliation of our non-GAAP financial measures to their most directly comparable GAAP financial measures appears below in the footnotes to the table of our key operating, business and financial metrics.**

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Our key operating, business and financial metrics are as follows:

| ​                                                
 ​                                                
 Operating Metric (dollars in billions)           
 Advisory and Brokerage Assets                    | ​ 
 ​ | ​                                          
 As of and for the Years Ended December 31, 
 2024                                       
 ​                                          |     ​ | ​ | ​    
 2023 
 ​    |     ​ |
|:-------------------------------------------------|:--|:-------------------------------------------|------:|:--|:-----|------:|
| Brokerage assets                                 | ​ | $                                          |  24.5 | ​ | $    |  21.8 |
| Advisory assets                                  | ​ |                                            |   2.5 | ​ |      |   2.1 |
| Total Advisory and Brokerage Assets              | ​ | $                                          |  27.0 | ​ | $    |  23.9 |
| ​                                                | ​ | ​                                          |     ​ | ​ | ​    |     ​ |
| Net New Assets                                   | ​ |                                            |     ​ | ​ |      |     ​ |
| Net new brokerage assets                         | ​ | $                                          |  -2.1 | ​ | $    |  -3.1 |
| Net new advisory assets                          | ​ |                                            |   0.0 | ​ |      |  -0.5 |
| Total Net New Assets                             | ​ | $                                          |  -