Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 58

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 58
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 |  0.9 | ​ |   |  0.3 |
| Depreciation and amortization | ​                     |                                         |  0.9 | ​ |   |  0.9 |
| EBITDA                        | ​                     | $                                       |  0.9 | ​ | $ |  6.5 |

Economic Overview and Impact of Financial Market Events Our business is directly and indirectly sensitive to several macroeconomic factors and the state of the United States financial markets. According to the most recent estimate from the U.S. Bureau of Economic Analysis, the U.S. economy grew at an annualized pace of 2.8% in the third quarter of 2024, after growing at an annualized pace of 1.6% and 2.8% in the first and second quarter of this year, respectively. The U.S. economy added roughly 558,000 jobs in the third quarter of 2024, while the unemployment rate averaged 4.1% in the third quarter of 2024, consistent with the average in the prior quarter. Our business is also sensitive to current and expected short-term interest rates, which are largely driven by Fed policy. During the third quarter of 2024, Fed policymakers lowered the target range for the federal funds rate to 4.8% to 5.0%. The equity markets surged to new highs resulting in the S&P 500 returning 5.9% during the third quarter of 2024. Please consult the Factors Affecting Our Financial Condition and Results of Operations, including those described in the section of this proxy statement/prospectus titled “ Risk Factors .” Basis of Presentation Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Currently, we conduct business through one operating segment. The consolidated financial statements have been prepared assuming that we will continue as a going concern. See Note 1 in the accompanying consolidated financial statements for further details.

35

Results of Operations The following presents an analysis of our results of operations for the three and nine-month periods ended September 30, 2024 and 2023 ( in thousands):

| ​                                           | ​ |                                        ​ | ​ |      ​ | ​ |        ​ | ​ |                                       ​ | ​ |       ​ | ​ |        ​ | ​ |
| ​                                           | ​ | For the three months ended September 30, |   |        |   |          | ​ |