MDBH

MKT CAP:$37M

MDB Capital Holdings, LLC Class A common

Market Cap

$37M

Financial Services·Financial - Capital Markets·🇺🇸 United States·NASDAQ

Financials·Financial·🇺🇸·NASDAQ

Stock Price

$3.87+$0.37 (+10.51%)

Apr 22, 2026

Company Details

MDB Capital Holdings, LLC, through its subsidiaries, primarily operates as a broker-dealer. The company operates through two segments, Broker Dealer & Intellectual Property Service, and Technology Development. The Broker Dealer & Intellectu...

CEO

Christopher A. Marlett

IPO Date

Sep 21, 2023

Website

www.mdb.com

Key Metrics TTM

Revenue

$3M

+208.8% YoY

Net Income

-$24M

EPS (Diluted)

-$2.43

Free Cash Flow

-$8M

Revenue / Share

$0.34

Gross Margin

-382.0%

Operating Margin

-644.2%

Net Margin

-690.1%

FCF Margin

-239.3%

P/S

10.7x

P/E

—

Earnings Reports

FY 2025

Mar 31, 2026

$4MEPS -$2.12

Q3 2025

Nov 13, 2025

$0EPS -$0.46

Q2 2025

Aug 14, 2025

$0-100.0%EPS -$0.83

Q1 2025

May 12, 2025

$2MEPS -$0.68

Q2 2024

Aug 13, 2024

$1MEPS -$0.46

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	-$406.1K	-$1M
Q3 22	$0	-$1M	-$2M
Q4 22	$1M	$523.3K	-$899.7K
Q4 23	$0	-$5M	-$7M
Q1 24	$0	-$5M	-$8M
Q2 24	$1M	-$4M	-$5M
Q1 25	$2M	-$2M	-$6M
Q2 25	$0	-$4M	-$7M
Q3 25	$0	-$3M	-$4M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q3 22	—	—
Q4 22	—	—
Q4 23	88.1x	—
Q1 24	87.1x	—
Q2 24	27.8x	—
Q1 25	7.9x	—
Q2 25	6.4x	—
Q3 25	10.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$1M	-$1M
Q3 22	-$2M	-$2M
Q4 22	-$782.7K	-$813.6K
Q4 23	-$2M	-$2M
Q1 24	-$2M	-$2M
Q2 24	-$4M	-$4M
Q1 25	-$267.4K	-$267.4K
Q2 25	-$2M	-$2M
Q3 25	-$2M	-$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$73.2K
Q3 22	$34.9K
Q4 22	$30.8K
Q4 23	$83.1K
Q1 24	$143.2K
Q2 24	$31.6K
Q1 25	$1
Q2 25	$0
Q3 25	$25.7K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 24	—	+517.1%
Q2 24	—	+188.5%
Q1 25	+91.9%	+299.6%
Q2 25	—	+12.4%
Q3 25	—	-52.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	—
Q3 22	$0	—
Q4 22	$0	0.0%
Q4 23	$0	—
Q1 24	$0	—
Q2 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$3M	—
Q3 25	$0	—

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$201.3K	$497.9K
Q3 22	$103.6K	$553.6K
Q4 22	$52.3K	$1M
Q4 23	$461.1K	$1M
Q1 24	$277.6K	$2M
Q2 24	$237.4K	$2M
Q1 25	—	$2M
Q2 25	—	$1M
Q3 25	—	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$6M	$0	$6M
Q2 22	$28M	$0	$28M
Q3 22	$12M	$0	$12M
Q4 22	$5M	$0	$5M
Q1 23	$3M	$0	$3M
Q2 23	$2M	$0	$2M
Q3 23	$24M	$0	$24M
Q4 23	$6M	$0	$6M
Q1 24	$5M	$0	$5M
Q2 24	$18M	$0	$18M
Q3 24	$17M	$0	$17M
Q4 24	$20M	$0	$20M
Q1 25	$20M	$0	$20M
Q2 25	$17M	$0	$17M
Q3 25	$15M	$0	$15M
Q4 25	$13M	$0	$13M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	8M	—	—
Q3 22	8M	0.0%	—
Q4 22	8M	0.0%	—
Q4 23	9M	+10.0%	—
Q1 24	9M	-0.1%	+9.9%
Q2 24	9M	-0.0%	+9.8%
Q1 25	10M	+3.5%	+13.7%
Q2 25	10M	+3.4%	+6.9%
Q3 25	10M	+1.0%	+8.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q3 22	—	—
Q4 22	—	—
Q4 23	$0	40
Q1 24	$0	40
Q2 24	$32.6K	40
Q1 25	$133.8K	16
Q2 25	$0	16
Q3 25	$0	16

Revenue / Employee