Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 415

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 415
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 worldwide and a decrease of $0.2 million from the Communications segment. Cost of goods sold for the three months ended June 30, 2024 increased approximately $6.4 million to $46.7 million from $40.3 million during the three months ended June 30, 2023. The increase in cost of goods sold was primarily attributable to increases of $6.3 million from the Auction and Liquidation segment and $2.2 million from All Other consisting of $1.2 million from Nogin which we acquired in the second quarter of 2024 and $1.0 million from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023, partially offset by decreases of $1.7 million in the Consumer Products segment and $0.4 million in the Communications segment.

Operating Expenses

Direct Cost of Services

Direct cost of services increased approximately $5.6 million to $61.6 million during the three months ended June 30, 2024 from $55.9 million during the three months ended June 30, 2023. The increase in direct cost of services was primarily attributable to increases of $0.2 million from the Communications segment and $6.0 million from All Other due to bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023 and Nogin which we acquired in the second quarter of 2024, partially offset by a decrease of $0.6 million from the Auction and Liquidation segment due to the size of the fee deals.  

Selling, General and Administrative Expenses 

Selling, general and administrative expenses during the three months ended June 30, 2024 and 2023 were comprised of the following:

 Three Months Ended June 30, 2024Three Months Ended June 30, 2023Change  Amount%Amount%Amount %Capital Markets segment $50,551 24.2 %$46,863 24.8 %$3,688 7.9 %Wealth Management segment 49,20523.5 %49,046 26.0 %159 0.3 %Auction and Liquidation segment 1,8610.9 %2,302 1.2 %(441)(19.2)%Financial Consulting segment 28,66713.7 %22,894 12.1 %5,773 25.2