Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 138

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 1
Chunk 138
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 results of operations. The loan portfolio and fair value adjustments on loans consisted of the following:

Fair Value Adjustments on LoansLoans Receivable, at Fair ValueThree Months EndedJune 30,Industry or Type of LoanJune 30, 2025December 31, 202420252024Related Party Loans:Vintage Capital Management, LLCRetail / consumer$1,468 $2,057 $(866)$(151,147)Freedom VCM Receivables, Inc.Consumer receivable portfolio— 3,913 — (12,039)Conn’s, Inc.Retail / consumer11,000 38,826 — (7,230)W.S. Badcock CorporationConsumer receivable portfolio— 2,169 — (7,396)Great American Holdings, LLCProfessional Services4,700 — — — Other related party loansProfessional Services, Industrials, Oil & Gas2,202 4,937 (126)194 Total related party19,370 51,902 (992)(177,618)Exela Technologies, Inc.Technology29,610 32,136 2,049 55 Core Scientific, Inc.Technology— — — — Norlin EV LimitedReal Estate— 6,065 (257)21 Other loansVarious— — — 1,960 Total$48,980 $90,103 $800 $(175,582)

The fair value adjustments on loans receivable for the three months ended June 30, 2025 and 2024, were $0.8 million and $(175.6) million, respectively. During the three months ended June 30, 2025 and 2024, fair value adjustments for other loans receivable totaled $1.8 million and $2.0 million, respectively. 

The $176.4 million favorable variance in fair value adjustment related to our loans receivable during the three months ended June 30, 2025 was primarily driven by $150.3 million related to the VCM, $12.0 million related to Freedom VCM, $7.4 million related to Badcock and $7.2 million related to Conn’s. 

Interest income from loans decreased $14.7 million to $3.9 million during the three months ended June 30, 2025 from $18.5 million during the three months ended June 30,