Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 429

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 8
Chunk 429
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,  a decrease in interest expense of $4.5 million, an increase in change in fair value of financial instruments and other of $4.6 million, and an increase of $1.3 million in interest income. 

Results of Operations

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

Nine Months Ended September 30, 2024 Compared to Nine Months Ended September 30, 2023

Condensed Consolidated Statements of Operations

(Dollars in thousands)

85

Nine Months Ended September 30,Change20242023Amount%Revenues:Services and fees$660,946 $662,181 $(1,235)(0.2)%Trading (loss) income(50,226)31,723 (81,949)n/mFair value adjustments on loans(259,260)51,623 (310,883)n/mInterest income - loans51,894 102,535 (50,641)(49.4)%Interest income - securities lending69,614 119,580 (49,966)(41.8)%Sale of goods164,254 184,301 (20,047)(10.9)%Total revenues637,222 1,151,943 (514,721)(44.7)%Operating expenses:Direct cost of services168,008 156,373 11,635 7.4 %Cost of goods sold118,897 129,490 (10,593)(8.2)%Selling, general and administrative expenses577,377 579,964 (2,587)(0.4)%Restructuring charge925 949 (24)(2.5)%Impairment of goodwill and tradenames27,681 37,233 (9,552)(25.7)%Interest expense - Securities lending and loan participations sold65,055 106,572 (41,517)(39.0)%Total operating expenses957,943 1,010,581 (52,638)(5.2)%Operating (loss) income(320,721)141,362 (462,083)n/mOther income (expense):Interest income2,909 3,455 (546)(15.8)%Dividend income4,139 9,541 (5,402)(56.6)%Realized and unrealized losses on investments(212,362)(77,020)(135