Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 311

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 311
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 fair value of the investment in Freedom VCM was reduced to zero at September 30, 2024 and a fair value adjustment of $(63,674) was recorded in the quarter ended September 30, 2024.Babcock and Wilcox Enterprises, Inc, Equity InvestmentThe Company owns a 30% voting interest in B&W whereby the Company has elected to account for this investment under the fair value option. The following tables contain summarized financial information with respect to B&W included below for purposes of the disclosure a quarter in arrears (balance sheet amounts as of March 31, 2024 and September 30, 2023 correspond to amounts as of June 30, 2024 and December 31, 2023, respectively, of the Company; income statement amounts during the three and six months ended March 31, 2024 and 2023 correspond to amounts during the three and six months ended June 30, 2024 and 2023, respectively, of the Company), which is the period in which the most recent financial information is available:March 31, 2024September 30, 2023Current assets$482,223 $542,300 Noncurrent assets$313,300 $294,979 Current liabilities$332,926 $393,539 Noncurrent liabilities$685,064 $585,430 Equity attributable to investee$(223,011)$(142,316)Noncontrolling interest$544 $626 

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For the three months ended March 31,For the six months ended March 31,2024202320242023Revenues$207,556 $241,258 $434,723 $477,682 Cost of revenues$159,075 $189,329 $330,627 $372,089 Loss from continuing operations$(15,799)$(12,686)$(70,065)$(14,975)Net loss$(16,791)$(12,475)$(79,515)$(6,815)Net loss attributable to investees$(16,833)$(12,496)$(83,287)$(10,475)As of June 30, 2024 and December 31, 2023, the fair value of the investment in B&W totaled $39,797 and $40,072, respectively, and is included in securities and other investments owned, at fair value in the condensed consolidated