Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 57

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 57
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 into our financial position and operating performance. Any non-GAAP measure provided should be viewed in addition to, and not as an alternative to, the most directly comparable measure determined in accordance with U.S. GAAP. Further, the calculation of these non-GAAP financial measures may differ from the calculation of similarly titled financial measures presented by other companies and therefore may not be comparable among companies.

Gross profit is defined as total revenue less commissions paid to financial advisors and registered representatives and other fees that generate the revenue. We consider our gross profit amounts to be non-GAAP financial measures that may not be comparable to those of others in our industry. We believe that gross profit amounts can provide investors with useful insight into our core operating performance before other costs that are general and administrative in nature.

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.

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 Three Months Ended September 30, 
 2024                                               
 ​                                                  |    ​ | ​ | ​    
 2023 
 ​    |    ​ |
|:-------------------------------------------------|:--|:---------------------------------------------------|-----:|:--|:-----|-----:|
| Brokerage assets                                 | ​ | $                                                  | 24.5 | ​ | $    | 20.8 |
| Advisory assets                                  | ​ |                                                    |  2.5 | ​ |      |  2.0 |
| Total Advisory and Brokerage Assets              | ​ | $                                                  | 26.9 | ​ | $    | 22.8 |
| Net New Assets                                   | ​ |                                                    |      | ​ |      |      |
| Net new brokerage assets                         | ​ | $                                                  |  0.