Company: BCG
Filing Date: 2025-09-08
Form Type: 424B3
Source: 0001104659-25-088309
Chunk: 46

Company: Binah Capital Group, Inc.
Filing Date: 2025-09-08
Form: 424B3
Chunk 46
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 nature. Below is a calculation of gross profit for the periods presented (in millions): |

| Gross Profit        | ​ 
 ​ | ​    
 2025 | For the three months ended 
                   June 30, | ​ | 2024 |      | ​ | ​    
 2025 | For the six months ended 
                 June 30, | ​ | 2024 |      | ​ |
|:--------------------|:--|:-----|---------------------------:|:--|:-----|-----:|:--|:-----|-------------------------:|:--|:-----|-----:|:--|
| Total revenue       | ​ | $    |                       41.5 | ​ | $    | 40.7 | ​ | $    |                     90.4 | ​ | $    | 82.1 | ​ |
| Commission and fees | ​ | ​    |                       32.7 | ​ | ​    | 33.4 | ​ | ​    |                     73.0 | ​ | ​    | 67.0 | ​ |
| Gross Profit        | ​ | $    |                        8.8 | ​ | $    |  7.3 | ​ | $    |                     17.4 | ​ | $    | 15.1 | ​ |

| (2) | EBITDA is a non-GAAP financial measure defined as net income plus interest expense, provision for income taxes, and depreciation and amortization. The Company presents EBITDA because management believes that it can be a useful financial metric in understanding the Company’s earnings from operations. EBITDA is 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 for the periods presented (in millions): |

| EBITDA Reconciliation         | ​ 
 ​ | ​    
 2025 | For the three months ended 
                   June 30, | ​ | 2024 |      | ​ | ​    
 2025 | For the six months ended 
                 June 30, | ​ | 2024 |      | ​ |
|:------------------------------|:--|:-----|---------------------------:|:--|:-----|-----:|:--|:-----|-------------------------:|:--|:-----|-----:|:--|
| Net income (