Company: RILYN
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001464790-25-000023
Chunk: 256

Company: B. Riley Financial, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 256
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7xMarket price of related security$10.22 - $11.72$11.214,874 Option pricing modelAnnualized volatility47.0% - 175.0%64.0%Loans receivable at fair value77,687 Discounted cash flowDiscount rate7.7% - 22.8%19.8%15,000 Liquidation approachCash recovery rate16.1%16.1%5,909 Market approachMarket price of related security$10.89$10.89Total level 3 assets measured at fair value$126,126 Liabilities:Contingent consideration$4,593 Discounted cash flowDiscount rate5.0% - 7.5%5.1%Liability-classified warrants5,160 Monte Carlo simulation and Black-Scholes option pricing modelAnnualized volatility75.0%75.0%Discount for lack of marketability13.7%13.7%Embedded derivative14,593 Discounted cash flowDiscount rate24.3%24.3%Monte Carlo simulation modelAnnualized volatility105.0%105.0%Expected term2.9 years2.9 yearsTotal level 3 liabilities measured at fair value$24,346 (1) Unobservable inputs were weighted by the relative fair value of the financial instruments.(2) Multiple of earnings before interest, taxes, depreciation, and amortization ("EBITDA").

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Fair value at December 31,2024Valuation TechniqueUnobservable InputRangeWeighted Average(1)Assets:Equity securities$34,654 Market approachMultiple of EBITDA6.3x6.3xMultiple of Sales2.1x - 8.0x3.1xMarket price of related security$9.97 - $11.10$10.765,862 Option pricing modelAnnualized volatility47.0% - 171.0%87.0%Loans receivable at fair value86,150 Discounted cash flowDiscount rate7.3% - 69.1%19.7%3,953 Market approachMarket price of related security$9.60 - $16.48$12.90Total level 3 assets measured at fair value$130,619 Liabilities:Contingent consideration4,538 Discounted cash flowDiscount rate5.0% - 7.5%5.1%