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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting

Note 15. Segment Reporting

 

Operating segments are defined as components of an entity for which discrete financial information is available that is regularly reviewed by the Chief Operating Decision Maker (“CODM”), who is the Chief Executive Officer, in deciding how to allocate resources to an individual segment and in assessing performance. The CODM reviews financial information for the purposes of making operating decisions, allocating resources, and evaluating financial performance of the business of the reportable operating segments, based on discrete financial information. The measures of segment profitability that are most relied upon by the CODM are gross revenues and net loss.

 

The Company operates in two reportable business segments: (1) Dominari Financial and (2) Legacy AIkido. The Dominari Financial reportable business segment represents the Company’s broker-dealer business, which is composed of mostly underwriting and transactional service activities. The Legacy AIkido reportable business segment includes Dominari Labs (formerly Aikido Labs), which manages the investments holdings of the legacy entity. Prior to the FPS Acquisition, the Company operated as a single operating segment comprised of Legacy AIkido.

 

The CODM has access to and regularly reviews internal financial reporting for each business and uses that information to make operational decisions and allocate resources. Accounting policies applied by the reportable segments are the same as those used by the Company and described in the “Summary of Significant Accounting Policies.”

The measures of segment profitability that are most relied upon by the CODM are gross revenue and net income (loss), as presented within the table below and reconciled to the unaudited condensed consolidated statements of operations. Additionally, the CODM views the expenses listed below to be significant in their analysis. 

 

   Three Months Ended September 30, 2025
   Dominari Financial   Legacy AIkido Pharma   Consolidated 
Revenue  $50,150   $671   $50,821 
Operating Costs               
Compensation and benefits   41,025    9,260    50,285 
Professional and consulting fees   255    1,185    1,440 
Data processing   187    
-
    187 
Other expenses   (58)   566    508 
Income (loss) from operations   8,741    (10,340)   (1,599)
                
Other (expenses) income               
Interest income   497    53    550 
Gain on marketable securities   1,213    157,917    159,130 
Unrealized loss on note receivable   
-
    
-
    
-
 
Change in fair value of investments   
-
    (32,000)   (32,000)
Total other (expenses) income   1,710    125,970    127,680 
Net income  $10,451   $115,630   $126,081 
Less: Net income attributable to non-controlling interests   871    
-
    871 
Net income attributable to common stockholders of Dominari Holdings  $9,580   $115,630   $125,210 
Total assets  $83,124   $140,322   $223,446 
   Three Months Ended September 30, 2024
   Dominari Financial   Legacy AIkido Pharma   Consolidated 
Revenue  $3,684   $359   $4,043 
Operating Costs               
Compensation and benefits   3,798    1,613    5,411 
Professional and consulting fees   232    267    499 
Data processing   241    32    273 
Other expenses   167    889    1,056 
Loss from operations   (754)   (2,442)   (3,196)
                
Other (expenses) income               
Interest income   204    76    280 
Gain on marketable securities   
-
    89    89 
Unrealized loss on note receivable   
-
    (429)   (429)
Change in fair value of investments   
-
    (955)   (955)
Total other (expenses) income   204    (1,219)   (1,015)
Net loss  $(550)  $(3,661)  $(4,211)
Total assets  $16,062   $27,369   $43,431 

 

   Nine Months Ended September 30, 2025 
   Dominari
Financial		   Legacy
AIkido
Pharma		   Consolidated 
Revenue  $92,355   $671   $93,026 
Operating Costs               
Compensation and benefits   78,455    59,996    138,451 
Professional and consulting fees   1,613    2,453    4,066 
Data processing   546    
-
    546 
Other expenses   675    2,323    2,998 
Income (loss) from operations   11,066    (64,101)   (53,035)
                
Other (expenses) income               
Interest income   878    95    973 
Gain on marketable securities   4,539    158,555    163,094 
Unrealized gain on note receivable   
-
    221    221 
Change in fair value of investments   
-
    
-
    
-
 
Total other income   5,417    158,871    164,288 
Net income (loss)  $16,483   $94,770   $111,253 
Less: Net income attributable to noncontrolling interests   1,921    
-
    1,921 
Net income attributable to common stockholders of Dominari Holdings  $14,562   $94,770   $109,332 
Total assets  $83,124   $140,322   $223,446 
   Nine Months Ended September 30, 2024 
   Dominari
Financial		   Legacy
AIkido
Pharma		   Consolidated 
Revenue  $10,553   $1,031   $11,584 
Operating Costs               
Compensation and benefits   10,037    4,210    14,247 
Professional and consulting fees   993    924    1,917 
Data processing   616    77    693 
Other expenses   1,697    1,767    3,464 
Loss from operations   (2,790)   (5,947)   (8,737)
                
Other (expenses) income               
Interest income   545    184    729 
Gain on marketable securities   
-
    767    767 
Unrealized loss on note receivable   
-
    (2,086)   (2,086)
Change in fair value of investments   
-
    (6,445)   (6,445)
Total other (expenses) income   545    (7,580)   (7,035)
Net loss  $(2,245)  $(13,527)  $(15,772)
Total assets  $16,062   $27,369   $43,431