Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 217

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 2
Chunk 217
---
 $1.0 million in other income, partially offset by a decrease of $0.4 million in commission fees.

Revenues from services and fees in the Financial Consulting segment increased $17.1 million to $69.4 million during the nine months ended September 30, 2024 from $52.3 million during the nine months ended September 30, 2023. The increase in revenues was primarily due to an increase of $19.0 million from the bankruptcy and restructuring, forensic and litigation, automotive restructuring, C&W, Interface Consulting and Farber divisions offset by a decrease in revenues of $1.9 million from the risk compliance and finance, valuation and due diligence divisions.

Revenues from services and fees in the Communications segment decreased $25.5 million to $225.1 million during the nine months ended September 30, 2024 from $250.5 million during the nine months ended September 30, 2023. The decrease in revenues was primarily due to decreases in subscription revenue of $24.7 million and $0.8 million in advertising and other revenue. We expect UOL, magicJack, and Marconi subscription revenue to continue to decline year-over-year.

Revenues from services and fees in All Other increased $46.5 million to $75.3 million during the nine months ended September 30, 2024 from $28.9 million during the nine months ended September 30, 2023. These revenues include merchandise rental fees and sales from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023, commission fees from Nogin which we acquired in the second quarter of 2024, and the operations of a regional environmental services business and a landscaping business that we acquired in 2022 and sold in the third quarter of 2023. Revenues from services and fees in All Other increased by approximately $39.1 million related to merchandise rental fees from bebe, $8.0 million in commission fees from Nogin, and $7.3 million related to the regional environmental services business, partially offset by a decrease in revenues of $8.0 million due to the sale of the landscaping business in the fourth quarter of 2023.

Trading (loss) income decreased approximately $81.9 million to a loss of $50.2 million during the nine months ended September 30, 2024 compared to income of $31.7 million during the nine months ended September 30, 2023