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Leases

9 Months Ended

Sep. 30, 2025

Note 8. Leases

On December 1, 2021, the Company entered into a Lease Agreement (the “Company’s Lease”) with Trump Tower Commercial LLC, a New York limited liability company. Under the Company’s Lease, the Company rents a portion of the twenty-second floor at 725 Fifth Avenue, New York, New York (the “22nd Floor Premises”). The Company currently uses the 22nd Floor Premises to run its day-to-day operations. The initial term of the Company’s Lease is seven (7) years commencing on July 11, 2022 (“Commencement Date”). Under the Company’s Lease, the Company is required to pay monthly rent, commencing on January 11, 2023, equal to $12,874. Effective for the sixth and seventh years of the Company’s Lease, the rent shall increase to $13,502. The Company took possession of the 22nd Floor Premises on the Commencement Date.

On September 23, 2022, Dominari Financial entered into a Lease Agreement (“Dominari Financials’ Lease”) with Trump Tower Commercial LLC, a New York limited liability company. Under Dominari Financials’ Lease, Dominari Financial rents a portion of a floor at 725 Fifth Avenue, New York, New York (the “Premises”). Dominari Financial currently uses the Premises to run its day-to-day operations. The initial term of Dominari Financials’ Lease is seven (7) years commencing on the date that possession of the Premises is delivered to Dominari Financial. Under Dominari Financials’ Lease, Dominari Financial is required to pay monthly rent equal to $49,368. Effective for the sixth and seventh years of Dominari Financials’ Lease, the rent shall increase to $51,868 per month. The Company took possession of the Premises in February 2023.

On September 2, 2025, the Company entered into a Lease Agreement (the “Company’s Florida Lease”) with Blue Diamond Towers, LLC, a Delaware limited liability company. Under the Company’s Florida Lease, the Company rents a portion of the first floor designated as Suite 103 of the North Building at 3835 PGA Boulevard in Palm Beach Gardens, Florida, (the “Florida Premises”). The Company will use the Florida Premises as Executive Offices. The initial term of the Company’s Florida Lease is two (2) years commencing on October 1, 2025. Under the Company’s Florida Lease, the Company is required to pay monthly rent, commencing on October 1, 2025, equal to $10,000. Effective for the second year of the Company’s Florida Lease, the rent shall increase to $10,300. The Company took possession of Florida Premises in October 2025.

The tables below represent the Company’s lease assets and liabilities as of September 30, 2025:

	September 30, 2025
Assets:
Operating lease right-of-use-assets	$	2,862
Liabilities:
Current
Operating		530
Long-term
Operating		2,464
	$	2,994

The following tables summarize quantitative information about the Company’s operating leases, under the adoption of ASC 842:

	September 30, 2025
Weighted-average remaining lease term - operating leases (in years)		4.5
Weighted-average discount rate - operating leases		10.0	%

During the three and nine months ended September 30, 2025, and 2024, the Company recorded approximately $0.2 million and $0.4 million, respectively, of lease expense to current period operations.

	Three Months		Nine Months
	Ended		Ended
	September 30,		September 30,
	2025		2025
Operating leases
Operating lease cost	$	178	$	535
Short-term lease rent expense		2		8
Net rent expense	$	180	$	543

	Three Months		Nine Months
	Ended		Ended
	September 30,		September 30,
	2024		2024
Operating leases
Operating lease cost	$	178	$	534
Short-term lease rent expense		23		96
Net rent expense	$	201	$	630

Supplemental cash flow information related to leases were as follows:

	Nine Months
	Ended
	September 30,
	2025
Operating cash flows - operating leases	$	511

As of September 30, 2025, future minimum payments during the next five years and thereafter are as follows:

	Operating
	Leases
Remaining Period Ended December 31, 2025	$	217
Year Ended December 31, 2026		805
Year Ended December 31, 2027		801
Year Ended December 31, 2028		766
Year Ended December 31, 2029		784
Thereafter		377
Total	$	3,750
Less present value discount		(756	)
Operating lease liabilities	$	2,994