Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 208

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 2
Chunk 208
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 months ended June 30, 2024 and 2023 were $0.4296875 per depository share. Dividends on the Series B preferred paid during the three months ended June 30, 2024 and 2023 were $0.4609375 per depository share.

Net (Loss) Income Available to Common Shareholders. Net loss available to common shareholders was $435.6 million during the three months ended June 30, 2024 compared to net income available to common shareholders $44.4 million during the three months ended June 30, 2023. The decrease was due to a change in operating (loss) income of $303.3 million, a decrease in realized and unrealized (losses) gains on investments of $174.5 million, a change in net loss attributable to noncontrolling interests and redeemable noncontrolling interests of $2.4 million, an increase in change in fair value of financial instruments and other of $0.5 million, and a decrease of $0.3 million in dividend income, partially offset by  a decrease in interest expense of $4.6 million, a change in provision for income taxes of $3.5 million, and an increase of $0.1 million in interest income. 

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Results of Operations

The following period to period comparisons of our financial results and our interim results are not necessarily indicative of future results.

Six Months Ended June 30, 2024 Compared to Six Months Ended June 30, 2023

Condensed Consolidated Statements of Operations

(Dollars in thousands)

Six Months Ended June 30,Change20242023Amount%Revenues:Services and fees$505,328 $465,886 $39,442 8.5 %Trading (loss) income(48,988)41,450 (90,438)n/mFair value adjustments on loans(187,783)52,483 (240,266)n/mInterest income - loans40,643 75,138 (34,495)(45.9)%Interest income - securities lending62,607 77,247 (14,640)(19.0)%Sale of goods119,590 126,164 (6,574)(5.2)%Total revenues491,397 838,368 (346,971)(41.4)%Operating expenses:Direct cost of services122,677 110,338 12,339 11.