Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 143

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 1
Chunk 143
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2024.

Operating Expenses

Direct Cost of Services

Direct cost of services increased approximately $12.3 million to $122.7 million during the six months ended June 30, 2024 from $110.3 million during the six months ended June 30, 2023. The increase in direct cost of services was primarily attributable to increases of $4.3 million from the Communications segment and $10.3 million from All Other consisting of to $8.7 million from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023 and $1.6 million from Nogin which we acquired in the second quarter of 2024, partially offset by a decrease of $2.3 million from the Auction and Liquidation segment due to the number and size of fee deals in prior year.  

Selling, General and Administrative Expenses 

Selling, general and administrative expenses during the six months ended June 30, 2024 and 2023 were comprised of the following:

 Six Months EndedJune 30, 2024Six Months EndedJune 30, 2023Change Amount%Amount%Amount%Capital Markets segment $104,546 24.9 %$113,830 28.4 %$(9,284)(8.2)%Wealth Management segment 99,308 23.7 %97,454 24.3 %1,854 1.9 %Auction and Liquidation segment 3,369 0.8 %4,582 1.1 %(1,213)(26.5)%Financial Consulting segment 57,612 13.8 %44,121 11.0 %13,491 30.6 %Communications segment49,353 11.8 %55,821 13.9 %(6,468)(11.6)%Consumer Products segment 34,571 8.3 %40,965 10.2 %(6,394)(15.6)%Corporate and All Other  70,127 16.7 %44,739 11.1 %25,388 56.7 %Total selling, general & administrative expenses $418,886 100.0 %$401,512 100.0 %$17,374 4.3 %

Total selling, general and administrative expenses increased by $17.4 million to $418.