Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 197

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 2
Chunk 197
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 judgments and estimates are used in the preparation of our condensed consolidated financial statements. A discussion of such critical accounting estimates, which include fair value measurements, goodwill and other intangible assets, and accounting for income tax valuation allowances can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

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, 2024 Compared to Three Months Ended June 30, 2023

Condensed Consolidated Statements of Operations

(Dollars in thousands)

74

Three Months Ended June 30,Change20242023Amount%Revenues:Services and fees$248,025 $230,327 $17,698 7.7 %Trading (loss) income(31,321)33,158 (64,479)(194.5)%Fair value adjustments on loans(175,582)9,207 (184,789)n/mInterest income - loans18,508 35,126 (16,618)(47.3)%Interest income - securities lending24,798 40,073 (15,275)(38.1)%Sale of goods63,937 58,387 5,550 9.5 %Total revenues148,365 406,278 (257,913)(63.5)%Operating expenses:Direct cost of services61,551 55,941 5,610 10.0 %Cost of goods sold46,718 40,317 6,401 15.9 %Selling, general and administrative expenses209,338 188,885 20,453 10.8 %Restructuring charge20 628 (608)(96.8)%Impairment of goodwill and tradenames27,681 1,733 25,948 n/mInterest expense - Securities lending and loan participations sold23,313 35,780 (12,467)(34.8)%Total operating expenses368,621 323,284 45,337 14.0 %Operating (loss) income(220,256)82,994 (303,250)n/mOther income (expense):Interest income804 701 103 14.7 %Dividend income9,209 9,555 (346)(3.6)%Realized and unrealized (loss