Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 422

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 8
Chunk 422
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 $11.5 million during the six months ended June 30, 2025 was primarily due to realized and unrealized income on investments made in our proprietary trading accounts, primarily $13.4 million for APLD, and $4.0 million for Channell, partially offset by losses of $10.6 million for B&W.

In our Capital Markets segment we have a portfolio of loans receivable that are measured at fair value with changes in fair value reported in our results of operations. The loan portfolio and fair value adjustments on loans consisted of the following:

Fair Value Adjustments on LoansLoans Receivable, at Fair ValueSix Months EndedJune 30,Industry or Type of LoanJune 30, 2025December 31, 202420252024Related Party Loans:Vintage Capital Management, LLCRetail / consumer$1,468 $2,057 $(589)$(168,385)Freedom VCM Receivables, Inc.Consumer receivable portfolio— 3,913 1,393 (13,721)Conn’s, Inc.Retail / consumer11,000 38,826 (4,065)(8,484)W.S. Badcock CorporationConsumer receivable portfolio— 2,169 250 (6,845)Great American Holdings, LLCProfessional Services4,700 — — — Other related party loansProfessional Services, Industrials, Oil & Gas2,202 4,937 (126)692 Total related party19,370 51,902 (3,137)(196,743)Exela Technologies, Inc.Technology29,610 32,136 (630)268 Core Scientific, Inc.Technology— — — 8,473 Norlin EV LimitedReal Estate— 6,065 (484)49 Other loansVarious— — (3,045)170 Total$48,980 $90,103 $(7,296)$(187,783)

During the six months ended June 30, 2025 and 2024, fair value adjustments for loans receivable from related parties totaled $(3.1) million and $(196.7) million, respectively. During the six months ended June 30, 2025 and 2024, fair value adjustments for other loans receivable totaled $(4.2) million and $9.0 million, respectively. 

The $180.5 million favorable variance in