Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 312

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 312
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 balance sheets. Other Public Company Equity Investments As of June 30, 2024, the Company had a voting interest of 13% in Synchronoss Technologies, Inc. The Company has significant influence due to the equity ownership interest and board representation for this company. The Company has elected to account for this equity investment under the fair value option. The following tables contain summarized financial information with respect to Synchronoss Technologies, Inc., included below for purposes of the disclosure a quarter in arrears (balance sheet amounts as of March 31, 2024 and September 30, 2023 correspond to amounts as of June 30, 2024 and December 31, 2023, respectively, of the Company; income statement amounts during the three and six months ended March 31, 2024 and 2023 correspond to amounts during the three and six months ended June 30, 2024 and 2023, respectively, of the Company), which is the period in which the most recent financial information is available:Synchronoss Technologies, Inc.March 31, 2024September 30, 2023Current assets$73,896 $85,903 Noncurrent assets$224,607 $275,304 Current liabilities$39,899 $74,528 Noncurrent liabilities$163,344 $166,673 Equity attributable to investee$95,260 $120,006 Synchronoss Technologies, Inc.For the three months ended March 31,For the six months ended March 31,2024202320242023Revenues$42,965 $41,985 $84,367 $83,237 Cost of revenues$10,223 $10,960 $20,515 $22,959 Net income (loss) attributable to investees$2,341 $(13,391)$(32,660)$(29,318)As of June 30, 2024 and December 31, 2023, the fair value of the equity investment in Synchronoss Technologies, Inc. was $13,149 and $8,780, respectively. These amounts are included in securities and other investments owned in the condensed consolidated balance sheets.Other Equity InvestmentsAs of June 30, 2024, the Company had other equity investments where the Company is considered to have the ability to exercise influence since the Company has representation on the board of directors or the Company is presumed to have the