Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 219

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 2
Chunk 219
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5 million during the nine months ended September 30, 2023. The decrease in cost of goods sold was primarily attributable to decreases of $14.3 million in the Consumer Products segment and $1.6 million in the Communications segment, partially offset by increases of $5.3 million from All Other 

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consisting of $3.7 million from Nogin which we acquired in the second quarter of 2024 and $1.6 million from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023.

Operating Expenses

Direct Cost of Services

Direct cost of services increased approximately $11.6 million to $168.0 million during the nine months ended September 30, 2024 from $156.4 million during the nine months ended September 30, 2023. The increase in direct cost of services was primarily attributable to an increase of  $17.1 million from All Other consisting of $12.4 million from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023, $4.5 million from Nogin which we acquired in the second quarter of 2024, and $0.2 million from the regional environmental services business, partially offset by a decrease of $5.5 million from the Communications segment.  

Selling, General and Administrative Expenses 

Selling, general and administrative expenses during the nine months ended September 30, 2024 and 2023 were comprised of the following:

 Nine Months EndedSeptember 30, 2024Nine Months EndedSeptember 30, 2023Change Amount%Amount%Amount%Capital Markets segment $135,816 23.5 %$177,628 30.7 %$(41,812)(23.5)%Wealth Management segment 148,587 25.7 %146,420 25.2 %2,167 1.5 %Financial Consulting segment 56,553 9.8 %43,166 7.4 %13,387 31.0 %Communications segment70,886 12.3 %84,215 14.5 %(13,329)(15.8)%Consumer Products segment 51,464 8.9 %59,774 10.3 %(8,310)(13.9)%Corporate and All Other  114,071 19.8 %68,761