Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 63

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 63
---
 commission revenue | ​ | $                                | 159,859 | ​ | $ | 172,404 |     | -12,545 |          |  -7.3 | %        |

Sales based revenue decreased by approximately $9.5 million or 11% year ended December 31, 2023 as compared to 2022. Trailing based revenue decreased by approximately $3.1 million of 3% for the year ended December 31, 2023 as compared to 2022. The decrease in sales based revenue for the year ended December 31, 2023 as compared to 2022 is attributable to a decrease in the generation of transactional based products. The decrease in the trailing based revenues is primarily due to volatility driven declines in trail eligible assets. Commission revenue is generated from brokerage assets. The following tables summarize the brokerage assets as of September 30, 2024 and 2023 (in billions):

| ​                
 ​                | ​ 
 ​ 
 ​ | ​                   
 As of September 30, |    ​ 
 2024 | ​ | ​ |    ​ 
 2023 |
|:-----------------|:--|:--------------------|-----:|:--|:--|-----:|
| Brokerage Assets | ​ | $                   | 24.5 |   | $ | 20.8 |

Included in the brokerage assets above are trail-eligible assets as follows (in billions):

| ​                     
 ​                     | ​ 
 ​ 
 ​ | ​                   
 As of September 30, |    ​ 
 2024 | ​ | ​ |    ​ 
 2023 |
|:----------------------|:--|:--------------------|-----:|:--|:--|-----:|
| Trail-Eligible Assets | ​ | $                   | 17.0 | ​ | $ | 14.0 |

38

The following tables summarizes the brokerage assets for the years ended December 31, 2023 and 2022 (in billions):

| ​                | ​ |            ​ | ​ |    ​ |
| ​                | ​ |  Years Ended |   |      |
| ​                | ​ | December 31, |   |      |
| ​                |   |         2023 |   | 2022 |
| Brokerage Assets | ​ |         21.8 | ​ | 20.1 |

Included in the brokerage assets above are trail-eligible assets as follows:

| ​                     | ​