Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 403

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 8
Chunk 403
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 intangibles of other reporting units identified in an interim basis during the six months ended June 30, 2025.

Results of Operations

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

Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024

Condensed Consolidated Statements of Operations

(Dollars in thousands)

83

Three Months Ended June 30,Change20252024Amount%Revenues:Services and fees$145,772 $202,909 $(57,137)(28.2)%Trading gains (losses), net27,680 (31,321)59,001 (188.4)%Fair value adjustments on loans800 (175,582)176,382 (100.5)%Interest income - loans3,853 18,508 (14,655)(79.2)%Interest income - securities lending2,124 24,798 (22,674)(91.4)%Sale of goods45,073 55,573 (10,500)(18.9)%Total revenues225,302 94,885 130,417 137.4 %Operating expenses:Direct cost of services33,216 58,679 (25,463)(43.4)%Cost of goods sold35,113 39,758 (4,645)(11.7)%Selling, general and administrative expenses142,369 178,014 (35,645)(20.0)%Restructuring charge321 20 301 n/mImpairment of goodwill and tradenames1,500 27,681 (26,181)(94.6)%Interest expense - Securities lending and loan participations sold1,968 23,313 (21,345)(91.6)%Total operating expenses214,487 327,465 (112,978)(34.5)%Operating income (loss) 10,815 (232,580)243,395 (104.7)%Other income (expense):Interest income492 797 (305)(38.3)%Dividend income122 460 (338)(73.5)%Realized and unrealized gains (losses) on investments10,216 (155,241)165,457 (106.6)%Change in fair value of financial instruments and other11,884 — 11,