Filing Flows › Binah Capital Group (BCG) › Q1 2026 › vs Q4 2025
Binah Capital Group (BCG) Q1 2026 vs Q4 2025 (quarter over quarter)
Binah Capital Group's revenue fell $1.8M (-4%) from $50.5M in Q4 2025 to $48.7M in Q1 2026. The biggest changes: Alternative investments −$1.7M (-60%); Securities commissions +$968K (+34%); Variable annuities and other insurance commissions −$397K (-1%). Operating margin 5.5% against -0.5% (+5.9 pts).
Binah Capital Group, Q1 2026: revenue $48.7M (-0.5% year over year), operating margin 5.5%, net earnings $1.9M, operating cash flow $538K. The chart draws each line against Q4 2025, the increases inside each band.
Margins
| Q1 2026 | Q4 2025 | Change | |
|---|---|---|---|
| Operating margin | 5.5% | -0.5% | +5.9 pts |
| Net margin | 3.9% | 0.3% | +3.6 pts |
| Free cash flow margin | 1.1% | 6.1% | -5.0 pts |
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Variable annuities and other insurance commissions | $28.3M | $28.7M | −$397K | -1% |
| Advisory fees | $7.3M | $7.7M | −$346K | -5% |
| Mutual fund commissions | $6.6M | $6.6M | −$37K | -0.6% |
| Securities commissions | $3.8M | $2.8M | $968K | +34% |
| Alternative investments | $1.1M | $2.9M | −$1.7M | -60% |
| Other revenues | $1.6M | $1.9M | −$290K | -15% |
| Revenue | $48.7M | $50.5M | −$1.8M | -4% |
| Operating profit | $2.7M | −$236K | $2.9M | — |
| Costs & expenses | $46.0M | $50.7M | −$4.7M | -9% |
| Pre-tax earnings | $2.7M | −$236K | $2.9M | — |
| Net earnings | $1.9M | $167K | $1.7M | 11× |
| Income tax | $755K | −$403K | $1.2M | — |
| Depreciation & amortization | $143K | $160K | −$17K | -11% |
| Share-based compensation | $384K | $170K | $214K | +126% |
| Working capital & other | $1.9M | −$2.6M | $4.5M | — |
| Operating cash flow | $538K | $3.1M | −$2.6M | -83% |
| Free cash flow (OCF − capex) | $527K | $3.1M | −$2.6M | -83% |
| Capital expenditures | $11K | $6K | $5K | +83% |
Questions
How much did Binah Capital Group's revenue grow quarter over quarter in Q1 2026?
Binah Capital Group's revenue fell $1.8M (-4%) from $50.5M in Q4 2025 to $48.7M in Q1 2026.
What drove Binah Capital Group's revenue change in Q1 2026?
Alternative investments −$1.7M (-60%); Securities commissions +$968K (+34%); Variable annuities and other insurance commissions −$397K (-1%).