v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash Flows From Operating Activities    
Net income (loss) $ (2,298,000) $ 3,942,000
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Deferred tax expense (benefit) (1,095,000) 498,000
Depreciation and amortization 1,361,000 1,044,000
Goodwill impairment 330,000
Intangible asset impairment 454,000
Loss on disposal of assets 83,000
FMR clearing arrangement [1] 400,000
Share-based compensation [2] 1,200,000 989,000
Interest related to contract termination liability payment 181,000 109,000
Changes in    
Securities segregated for regulatory purposes (3,326,000) 23,921,000
Receivables from customers (15,116,000) 4,509,000
Receivables from non-customers (48,000) (804,000)
Receivables from and deposits with broker-dealers and clearing organizations (12,139,000) (4,330,000)
Securities borrowed (211,081,000) (99,681,000)
Securities owned, at fair value 6,210,000 1,910,000
Notes receivable (2,000,000)
Prepaid expenses and other assets (1,934,000) (2,185,000)
Payables to customers 264,000 (9,259,000)
Payables to non-customers (1,000) (3,071,000)
Drafts payable (2,020,000) (152,000)
Payables to broker-dealers and clearing organizations 6,659,000 735,000
Accounts payable and accrued liabilities 4,337,000 (245,000)
Securities loaned 202,538,000 50,712,000
Securities sold, not yet purchased, at fair value (144,000) (19,000)
Net lease liabilities (70,000) (25,000)
Taxes payable / receivable 9,000 (1,020,000)
NFS business development credits (480,000) (425,000)
Other deferred revenue 56,000 20,000
Contract termination liability payment (1,000,000) (1,003,000)
Net cash used in operating activities (28,670,000) (33,830,000)
Cash Flows From Investing Activities    
Purchase of office facilities and equipment (158,000) (124,000)
Purchase of software (735,000) (1,578,000)
Additions to property, office facilities, and equipment (263,000) (243,000)
Cash paid in investments at cost (700,000) (2,000,000)
Acquisition of BMLG assets (441,000)
Net cash used in investing activities (1,856,000) (4,386,000)
Cash Flows From Financing Activities    
RISE cash distribution (35,000)
Repayments of long-term debt (45,000) (44,000)
Net cash used in financing activities (45,000) (79,000)
Net change in cash and cash equivalents, and cash segregated for regulatory purposes (30,571,000) (38,295,000)
Cash and cash equivalents, and cash segregated for regulatory purposes - beginning of period 173,415,000 168,458,000
Cash and cash equivalents, and cash segregated for regulatory purposes - end of period 142,844,000 130,163,000
Reconciliation of cash, cash equivalents, and cash segregated for regulatory purposes    
Cash and cash equivalents - end of period 16,099,000 28,949,000
Cash segregated for regulatory purposes - end of period 126,745,000 101,214,000
Cash and cash equivalents, and cash segregated for regulatory purposes - end of period 142,844,000 130,163,000
Supplemental cash flow information    
Cash paid during the period for income taxes 58,000 1,243,000
Cash paid during the period for interest 265,000 78,000
Non-cash investing and financing activities    
Transaction with media platform $ 189,000
[1] Refer to Note 1 – Organization and Basis of Presentation for further detail.
[2] Refer to Note 20 – Employee Benefit Plans for further detail.