Company: RILYN
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001464790-25-000023
Chunk: 150

Company: B. Riley Financial, Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Part I, Item 2
Chunk 150
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 $10.0 million.

On November 11, 2025, the Company announced that it will change its name to BRC Group Holdings, Inc., effective on January 1, 2026.

Critical Accounting Estimates

The preparation of our unaudited condensed consolidated financial statements in accordance with generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, related disclosures of contingent assets and liabilities, and reported amounts of revenue and expense during the reporting period. The estimates and assumptions are based on historical experience and on other factors that management believes to be reasonable. Actual results may significantly differ from those estimates. Critical accounting estimates represent the areas where more significant judgments and estimates are used in the preparation of our unaudited condensed consolidated financial statements. A discussion of such critical accounting estimates, which include fair value measurements, goodwill and other intangible assets, and accounting for income tax valuation allowances can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

Results of Operations

The following period to period comparisons of our financial results and our interim results are not necessarily indicative of future results.

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

Condensed Consolidated Statements of Operations

(Dollars in thousands)

  72                                                                                                                                  

Three Months Ended March 31,Change20252024Amount%Revenues:Services and fees$158,839 $214,081 $(55,242)(25.8)%Trading gains (losses), net(16,171)(17,667)1,496 (8.5)%Fair value adjustments on loans(8,096)(12,201)4,105 (33.6)%Interest income - loans3,196 22,135 (18,939)(85.6)%Interest income - securities lending840 37,809 (36,969)(97.8)%Sale of goods47,455 53,433 (5,978)(11.2)%Total revenues186,063 297,590 (111,527)(37.5)%Operating expenses:Direct cost of services42,700 59,670 (16,970)(28.4)%Cost of goods sold36,733 38,827 (2,094)(5.4)%Selling, general and administrative expenses167,388 178,940 (11,552