RYE, N.Y.--(BUSINESS WIRE)--Morgan Group Holding Co. ("MGHL" or the "Company"; OTC Pink®: MGHL) reports audited financial results for the year ended December 31, 2023.
Audited Results - Full Year
Total revenues for the year ended December 31, 2023 increased by $0.1 million to $2.1 million versus $2.0 million for the year ended December 31, 2022 as commission and research revenues increased.
Expenses in 2023 remained steady at $3.0 million versus $3.0 million in the prior year.
Net loss decreased by $0.1 to $0.8 million for the year ended December 31, 2023 against $0.9 million for the year ended December 31, 2022.
EARNINGS PER SHARE - Net loss per share for the full year of 2023 were $1.41 per share as compared to $1.58 per share for the prior year.
Full audited financial statements posted on company website: morgangroupholdingco.com
About Morgan Group Holding Co.
Morgan Group Holding Co. was incorporated in November 2001. After the consummation of the Merger with G.research, LLC ("G.research") in October 2019, we wholly own and operate G.research, an institutional research and securities brokerage business. G.research is a broker-dealer registered under the Securities Exchange Act of 1934, as amended, and is a member of FINRA. Our primary source of revenue is G.research's securities brokerage business. Through G.research, we also provide institutional research services and also may act as an underwriter.
SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
Our disclosure and analysis in this press release, which do not present historical information, contain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.
Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that are difficult to predict and could cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Some of the factors that could cause our actual results to differ from our expectations or beliefs include a decline in the securities markets that adversely affect our assets under management, negative performance of our products, the failure to perform as required under our investment management agreements, a general downturn in the economy that negatively impacts our operations. We also direct your attention to the more specific discussions of these and other risks, uncertainties and other important factors contained in our Annual Report and other public filings. Other factors that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations whether as a result of new information, future developments or otherwise, except as may be required by law.
Contacts
Joseph L Fernandez
Chief Financial Officer
(914) 921-5216
morgangroupholdingco.com
