Company: RILY
Filing Date: 2025-12-15
Form Type: 10-Q
Source: 0001464790-25-000029
Chunk: 300

Company: B. Riley Financial, Inc.
Filing Date: 2025-12-15
Form: 10-Q
Item: Part I, Item 8
Chunk 300
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 on equity securities held at June 30, 2025, includes unrealized gains (losses) of $2,855 and $(153,027) for the three months ended June 30, 2025 and 2024, respectively, and unrealized losses of $(13,127) and $(185,519) for the six months ended June 30, 2025 and 2024, respectively, which is included in the “Realized and unrealized gains (losses) on investments” line item on the accompanying unaudited condensed consolidated statements of operations.Securities and other investments owned also includes equity investments in nonpublic entities that do not have a readily determinable fair value. For these investments the Company has elected to apply the measurement alternative under which they are measured at cost and adjusted for observable price changes and impairments. Observable price changes result from, among other things, equity transactions for the same issuer executed during the reporting period, including subsequent equity offerings or other reported equity transactions related to the same issuer. For these transactions to be considered observable price changes of the same issuer, the Company evaluates whether these transactions have similar rights and obligations, including voting rights, distribution preferences, conversion rights, and other factors, to the investments we hold. The following table presents, as of June 30, 2025 and December 31, 2024, the carrying value of 

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equity securities measured under the measurement alternative and the related adjustments recorded during the periods presented for those securities with observable price changes:June 30,2025December 31,2024Securities and other investments owned, carrying value$70,217 $67,100 Upward carrying value changes1,732 1,848 Downward carrying value changes/impairment(592)(2)The following table presents information on equity securities valued under the measurement alternative on a nonrecurring basis by level within the fair value hierarchy which were measured due to an observable price change or impairment during the periods below. Fair Value Measurement UsingTotalQuoted prices in active marketsfor identical assets (Level 1)Other observable inputs (Level 2)Significant unobservable inputs (Level 3)As of June 30, 2025Equity securities valued under the measurement alternative$24,462 $— $23,204 $1,258 As of December 31, 2024Equity securities valued under the measurement alternative$7,294 $— $7,294