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TickerDOMH
SectorFinancial - Capital Markets
Mkt cap$52M
EV / EBITDA0.3×
PostureRestatement Risk
Composite94/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 12239

Dominari Holdings Inc.

DOMHRESTATEMENT RISKFILING INTENSITY

Dominari Holdings Inc. reads as Restatement Risk (composite 94/100); pressure / disclosure signals dominate the posture this cycle · primary market Financial Infrastructure.

Lens

Disclosed M&A capital (2023–2025)

$1M

−45%

vs $2M in 2020–2022

Disclosed transactions

N/A

−99%

1/3 active fiscal years in window

Buyer archetype

Consistent Strategic Buyer

Meaningful spend appears across repeat years.

Composite score

94

/100

Restatement Risk dominates · Filing Intensity

Financial snapshot
Revenue$123M
EBITDA$72M
Enterprise value$21M
EV / Revenue0.2×
EV / EBITDA0.3×
P/EN/A
Cash$34M
Total debtN/A
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

0/100

Companies actively deploying disclosed capital into M&A

  • $8M disclosed buyer spend

Buyer Cadence

2/100

Buyer-side companies with recent filing activity

  • 389 8-Ks

Target Probability

18/100

Issuers showing target-side patterns from filings

  • 11 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 11 activism filings

Pressure Watch

47/100

Issuers facing activism, governance, or control pressure

  • 11 activism filings
  • Latest activism 2y ago

Distress Watch

44/100

Issuers showing financial-distress filing patterns

  • 10-Q 211d stale
  • 11 activism filings

Restatement Risk

Dominant
94/100

Issuers with accounting-integrity flags from filings

  • 2 non-reliance 8-Ks
  • 4 auditor changes
  • 6 NT late filings
  • Latest event 1.1y ago

Capital Velocity

62/100

Issuers with the highest filing-activity intensity

  • 389 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $21M
  • 10-Q 211d ago
  • 3 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $2M · Peak count: 1

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/AN/AN/AN/A
2024N/A$1MN/AN/A
2023N/AN/AN/AN/A
20221$2M$2MN/A
2021N/AN/AN/AN/A
2020N/AN/AN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Platform
    25%
  • Technology Acquisition
    25%
  • Bolt On
    25%
  • Geographic Expansion
    25%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • platform
  • technology_acquisition
  • bolt_on
  • geographic_expansion
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

Dominari announced the creation of American Data Centers Inc. (“ADC”), a strategic venture focused on acquiring, building out and transforming data center campuses across the United States to meet the accelerated demand for advanced computing.

10-KFY2025

Dominari Financial, Inc. (“Dominari Financial”), our wholly-owned financial subsidiary, is the M&A arm of Dominari and will execute the Company’s roll-up strategy in the financial sector.

10-KFY2022

The roll-up strategy seeks to acquire third-party financial assets such as registered investment advisors, broker dealers, asset management firms and fintech firms.

10-KFY2022

There can be no assurance that the exploration of strategic alternatives will result in the identification or consummation of any transaction.

10-KFY2021

Our management and Board of Directors (“Board of Directors”) has commenced a review of strategic alternatives which could result in, among other things, a sale, a merger, consolidation or business combination, asset divestiture, partnering or other collaboration agreements, or potential acquisitions or recapitalizations, in one or more transactions, or continuing to operate with our current business plan and strategy.

10-KFY2021
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Financial Infrastructure

Market spend (2023–2025)
$186.1B
Market spend (2020–2022)
$98.1B
Recent vs prior
+90%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

0.3×EV / EBITDA

DOMH trades at a -15.9-turn discount to the Financial Infrastructure peer median of 16.2×.

EV / Revenue
0.2×
Net debt / EBITDA
N/A
Peer median EV / EBITDA
16.2×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
22.0×14.5×-0.4×$43B$1.8B
21.4×10.8×1.4×$7.9B$451M
16.2×8.2×3.2×$13.1B$10.3B
10.9×3.9×5.4×$8.8B$5.1B
2.3×2.7×-1.1×$187B$81.8B
Dominari Holdings Inc.DOMH
0.3×0.2×N/A$123M$1M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Financial Infrastructure. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)322026-03-31
  • 10-Q (quarterly)752025-11-10
  • 8-K (event)3892026-03-31
  • Proxy / DEF 14A552026-02-06
  • Activism (13D / DFAN / PREC)112024-06-13

Signals on file

  • critical

    Non-reliance disclosure

    2013-03-04

    2 Item 4.02 filings on file; financial-statement non-reliance.

  • elevated

    Auditor change

    2025-04-30

    4 Item 4.01 filings on file; certifying accountant change.

  • watch

    Late-filing notice

    2025-03-27

    6 NT 10-K/10-Q filings on file.

  • elevated

    Activism on file

    2024-06-13

    11 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    Serial acquisition history

  • info

    Signal

    10-K strategy themes

  • info

    Signal

    Restatement risk

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.