Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 87

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 1
Chunk 87
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 not invest such proceeds or permanently reduce certain debt within a specified period of time, the Company may be required to use a portion of the proceeds of such asset sales above a specified threshold to make an offer to purchase the New Notes at a price equal to 100% of the principal amount of the New Notes being purchased, plus accrued and unpaid interest. 

The New Notes Indenture contains certain covenants that, among other things, limit the Company’s and its subsidiaries’ ability to incur additional indebtedness or liens, to dispose of assets, to make certain fundamental changes, to enter into restrictive agreements, to make certain investments, loans, advances, guarantees and acquisitions, to prepay certain indebtedness and to pay dividends or to make other distributions or redemptions/repurchases in respect of their respective equity interests. 

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NOTE 13 — ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued expenses and other liabilities consist of the following:June 30,2025December 31,2024Accrued payroll and related expenses$47,506 $50,957 Dividends payable845 2,534 Income taxes payable2,207 2,997 Other tax liabilities24,805 16,184 Contingent consideration4,608 4,538 Accrued expenses50,500 51,695 Other liabilities44,673 56,840 Accrued expenses and other liabilities$175,144 $185,745 Other tax liabilities primarily consist of uncertain tax positions, sales and VAT taxes payable, and other non-income tax liabilities. Accrued expenses primarily consist of accrued trade payables, investment banking payables and legal settlements. Other liabilities primarily consist of interest payables, accrued legal fees and finance lease liabilities.

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NOTE 14 — REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue from contracts with customers by the Company’s five reportable operating segments and the All Other category during the three and six months ended June 30, 2025 and 2024 was as follows:

Capital MarketsWealthManagementCommunications Consumer ProductsAll OtherTotal Revenues for the three months ended June 30, 2025     Corporate finance, consulting and investment banking fees $32,346 $— $— $— $— $32,346 Wealth and asset management fees 959 29,373 — — — 30,332 Commissions, fees and