MDB Capital Holdings (MDBH) Q2 2025 earnings summary

Executive summary

• Revenue for the quarter was minimal due to no completed financings, with PatentVest contributing some revenue as operations scale.

• Strategic focus is shifting toward profitable, growing early-stage companies with revenue momentum, expanding beyond life sciences, and launching the first profitable IPO, Buda Juice.

• Plans to spin off PatentVest as an independent public company by 2026, aiming to unlock shareholder value and leverage AI and proprietary processes.

• Expanded pipeline includes new offerings for Paulex Bio and Buda Juice, and a strategic partnership with Keiretsu Forum MST to grow the IPO Angels investor platform.

• The report covers the quarter ended June 30, 2025, with two main segments: broker dealer & intellectual property services, and technology development.

Financial highlights

• Net loss attributable to members for Q2 2025 was $8.25M, compared to $4.27M in Q2 2024; six-month net loss was $14.83M vs. $11.49M prior year.

• Cash utilization for the first six months of 2025 was $3.4 million, with cash and cash equivalents at June 30, 2025 of $17.1M.

• Fee income for the quarter was $1.30M, unchanged from Q2 2024.

• No financings completed in the quarter, resulting in low revenue.

• Working capital at June 30, 2025 was $17.7M, a decrease of $7.2M from the prior year.

Outlook and guidance

• Expectation to close financings in the second half of 2025 to offset or eliminate cash usage and improve cash flow.

• Plans to spin out PatentVest as a public company in 2026, with further details to be announced.

• Anticipate more deals with profitable, high-growth companies, and increased investor interest.

• Plans to distribute equity in portfolio companies to shareholders, with a focus on 2026 for major distributions.

• Management is monitoring macroeconomic risks, including potential recession and changes in government policy.