Siebert Financial Q1 2022 revenue $10.3M (down 45% YoY), net loss $1.0M

SIEBERT FINANCIAL CORP

2023-Q1 EPS reported -$0.03 revenue$10,344,000

Revenue $10.3M, down from $18.9M in Q1 2021; net loss $1.0M vs net income $2.3M.
Operating loss $1.4M vs operating income $3.0M; loss per share $0.04 vs EPS $0.07.
Temporary unrealized loss of $2.2M on U.S. government securities portfolio expected to reverse over maturities.
Plans to launch correspondent clearing services by Q3 2022, led by newly hired FinTech SVP Matthew Shatz.
Retail customer net worth $16.1B vs $16.8B at year-end 2021.

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