Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 105

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 1
Chunk 105
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 segment and the operations related to brand licensing that was previously reported in the Consumer segment being reported in the All Other Category that is reported with Corporate and Other. The Great American Group discontinued operations, as discussed in Note 4, resulted in changes to the Financial Consulting segment and the elimination of the Auction and Liquidation segment as of September 30, 2024.As a result of the changes discussed above, the Company has recast the financial data for the segments and reporting of the All Other Category for all periods presented. The following is a summary of certain financial data for each of the Company’s reportable segments:Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2024202320242023Capital Markets segment:Revenues - Services and fees$30,437 $80,913 $141,026 $183,803 Trading (loss) income(1,908)(10,217)(52,787)29,488 Fair value adjustment on loans(71,477)(860)(259,260)51,623 Interest income - loans11,251 27,397 51,894 102,535 Interest income - securities lending7,007 42,333 69,614 119,580 Total revenues(24,690)139,566 (49,513)487,029 Selling, general and administrative expenses(30,453)(62,898)(133,483)(174,479)Impairment of tradenames— — — (1,733)Interest expense - Securities lending and loan participations sold(6,359)(38,368)(65,055)(106,572)Depreciation and amortization(817)(900)(2,333)(3,149)Segment (loss) income(62,319)37,400 (250,384)201,096 Wealth Management segment:    Revenues - Services and fees49,389 50,875 150,153 146,660 Trading income670 490 2,561 2,235 Total revenues50,059 51,365 152,714 148,895 Selling, general and administrative expenses(48,234)(47,891)(145,439)(143,177)Restructuring charge— — — (61)Depreciation and amortization(1,045)(1,075)(3,148)(3,243)Segment income (loss)