Company: RILYN
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001464790-25-000023
Chunk: 274

Company: B. Riley Financial, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 8
Chunk 274
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 GlassRatner and FarberOn June 27, 2025, the Company signed an equity purchase agreement to sell all of the membership interests of GlassRatner and Farber. The aggregate cash consideration paid by the buyers for the interests of GlassRatner and shares of Farber was $117,800, which is based on a target closing working capital amount that is subject to adjustment within 180-days following the sale date. In connection with the sale, the Company entered into a transition services agreement with the buyer to provide certain services. 

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The major classes of assets and liabilities included in discontinued operations were as follows:GlassRatner & FarberMarch 31, 2025December 31, 2024Assets:Cash and cash equivalents$3,369 $8,025 Accounts receivable, net18,947 19,704 Prepaid expenses and other assets9,529 9,222 Operating lease right-of-use assets1,950 2,258 Property and equipment, net226 275 Goodwill30,458 30,450 Other intangible assets, net395 439 Total assets$64,874 $70,373 Liabilities:Accounts payable$1,112 $1,326 Accrued expenses and other liabilities12,667 14,359 Deferred revenue40 5 Contingent consideration3,093 3,092 Operating lease liabilities2,201 2,539 Total liabilities$19,113 $21,321 Revenues and income (loss) from discontinued operations for the three months ended March 31, 2025 and 2024 were as follows (in thousands):Three Months EndedMarch 31, 2025GlassRatner & FarberRevenues:Services and fees$21,110 Operating expenses:Selling, general and administrative expenses17,613 Operating income3,497 Other income (expense):Interest income3 Income from discontinued operations before income taxes3,500 Provision for income taxes(105)Income from discontinued operations, net of income taxes$3,395 

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Three Months Ended March 31, 2024Brands TransactionGreat American GroupGlassRatner & FarberTotalRevenues:Services and fees$4,577 $16,006 $22,639 $43,222 Sale of goods— 2,220