Company: BCG
Filing Date: 2025-09-03
Form Type: POS AM
Source: 0001410578-25-001926
Chunk: 49

Company: Binah Capital Group, Inc.
Filing Date: 2025-09-03
Form: POS AM
Chunk 49
---
 | 136.2 |
| Gross Profit        | ​            | $                                |  32.0 | ​ | $ |  31.8 |

| (2) | EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA is defined as net income plus interest expense, provision for income taxes, and depreciation and amortization. Adjusted EBITDA is defined as EBITDA plus non-recurring costs related to our business combination as well as re-financing the senior credit facility costs. 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. Below is a reconciliation of net income to EBITDA and EBITDA to Adjusted EBITDA for the periods presented (in millions): |

| ​                                           
 ​                                           | ​                     
 EBITDA Reconciliation | ​                                
 For the Years Ended December 31, 
 ​                                |    ​ 
 2024 | ​ | ​ |    ​ 
 2023 |
|:--------------------------------------------|:----------------------|:---------------------------------|-----:|:--|:--|-----:|
| Net (loss) income                           | ​                     | $                                | -4.6 | ​ | $ |  0.6 |
| Interest expense                            | ​                     |                                  |  4.0 | ​ |   |  5.1 |
| (Benefit) Provision for income taxes        | ​                     |                                  |  1.4 | ​ |   | -0.1 |
| Depreciation and amortization               | ​                     | ​                                |  1.0 | ​ |   |  1.2 |
| EBITDA                                      | ​                     | $                                |  1.9 | ​ | $ |  6.8 |
| Business combination and re-financing costs | ​                     | ​                                |  4.4 | ​ | ​ |  1.6 |
| Adjusted EBITDA(2)                          | ​                     | $                                |  6.3 | ​ | $ |  8.4 |

Economic Overview and Impact of Financial Market Events Our business is directly and