Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 363

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 8
Chunk 363
---
 are satisfied at a point in time was $100,595 and $128,077 and over time was $87,572 and $127,963, respectively. During the six months ended June 30, 2025 and 2024, revenues recognized for customer contracts for performance obligations that are satisfied at a point in time was $191,065 and $266,153 and over time was $194,329 and $253,293, respectively.

NOTE 15 — INCOME TAXES 

The Company’s effective income tax rate was a provision of 4.1% for the three months ended June 30, 2025 as compared to a provision of 6.9% for the three months ended June 30, 2024. The Company’s effective income tax rate was a provision of less than 1% for the six months ended June 30, 2025, as compared to a provision of 1.6% for the six months ended June 30, 2024. During the three months ended June 30, 2025, the Company had a provision for income taxes from continuing operations of $3,053 resulting primarily from the impact of recording uncertain tax positions for state and foreign taxes, interest and penalties. During the three months ended June 30, 2024, the Company had a provision for income taxes from continuing operations of $29,183 resulting primarily from the impact of recording a valuation allowance on deferred tax assets as of June 30, 2024. During the six months ended June 30, 2025, the Company had a provision for income taxes from continuing operations of $11. During the six months ended June 30, 2024, the Company had a provision for income taxes from continuing operations of $7,853. The effective income tax rates for the three and six months ended June 30, 2025 are less than the federal statutory tax rate of 21% due to being in a tax loss with a full valuation allowance. The effective income tax rates for the three and six months ended June 30, 2024 are impacted by the valuation allowance recorded on deferred tax assets as of June 30, 2024.As of June 30, 2025, the Company had federal net operating loss carryforwards of $344,508 and state net operating loss carryforwards of $71,248, respectively. The Company’s federal net operating loss carryforwards will expire in the tax years commencing on December 31