Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 146

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 1
Chunk 146
---
 and Marconi subscription revenue to continue to decline year-over-year.

Revenues from services and fees in All Other increased $46.5 million to $75.3 million during the nine months ended September 30, 2024 from $28.9 million during the nine months ended September 30, 2023. These revenues include merchandise rental fees and sales from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023, commission fees from Nogin which we acquired in the second quarter of 2024, and the operations of a regional environmental services business and a landscaping business that we acquired in 2022 and sold in the third quarter of 2023. Revenues from services and fees in All Other increased by approximately $39.1 million related to merchandise rental fees from bebe, $8.0 million in commission fees from Nogin, and $7.3 million related to the regional environmental services business, partially offset by a decrease in revenues of $8.0 million due to the sale of the landscaping business in the fourth quarter of 2023.

Trading (loss) income decreased approximately $81.9 million to a loss of $50.2 million during the nine months ended September 30, 2024 compared to income of $31.7 million during the nine months ended September 30, 2023. The loss of $50.2 million during the nine months ended September 30, 2024 was primarily due to realized and unrealized losses on investments made in our proprietary trading accounts.

The decrease in the fair value adjustment of $310.9 million on our loans receivable during the nine months ended September 30, 2024 was primarily due to $222.7 million related to VCM, $13.6 million related to the loan to Freedom VCM, $27.1 million related to Conn’s, and $0.8 million related to Badcock Receivables I. 

Interest income - loans  decreased $50.6 million to $51.9 million during the nine months ended September 30, 2024 from $102.5 million during the nine months ended September 30, 2023. The decrease was due to a reduction in loan receivable balances from $549.1 million as of September 30, 2023 to $151.7 million as of September 30, 2024.

Interest income – securities lending decreased $50.0 million to $69.6 million