Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 145

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 1
Chunk 145
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 Capital Markets segment, and $25.5 million in the Communications segment, partially offset by increases in revenue of $46.5 million in All Other, $17.1 million in the Financial Consulting segment, and $3.5 million in the Wealth Management segment.

Revenues from services and fees in the Capital Markets segment decreased $42.8 million to $141.0 million during the nine months ended September 30, 2024 from $183.8 million during the nine months ended September 30, 2023. We were 

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the lead manager on fewer underwriting engagements in 2024 than 2023. The decrease in revenues was primarily due to decreases of $25.7 million of corporate finance, consulting, and investment banking fees, $7.0 million in dividends, $5.8 million in commission fees, $2.2 million of interest income, $1.8 million in other income, and $0.2 million in asset management fees.

Revenues from services and fees in the Wealth Management segment increased $3.5 million to $150.2 million during the nine months ended September 30, 2024 from $146.7 million during the nine months ended September 30, 2023. The increase in revenues was primarily due to increases in revenue of $2.9 million from wealth and asset management fees and $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,