Company: RILYN
Filing Date: 2025-02-21
Form Type: 10-Q
Source: 0001628280-25-007082
Chunk: 218

Company: B. Riley Financial, Inc.
Filing Date: 2025-02-21
Form: 10-Q
Item: Part I, Item 2
Chunk 218
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. The loss of $50.2 million during the nine months ended September 30, 2024 was primarily due to realized and unrealized losses on investments made in our proprietary trading accounts.

The decrease in the fair value adjustment of $310.9 million on our loans receivable during the nine months ended September 30, 2024 was primarily due to $222.7 million related to VCM, $13.6 million related to the loan to Freedom VCM, $27.1 million related to Conn’s, and $0.8 million related to Badcock Receivables I. 

Interest income - loans  decreased $50.6 million to $51.9 million during the nine months ended September 30, 2024 from $102.5 million during the nine months ended September 30, 2023. The decrease was due to a reduction in loan receivable balances from $549.1 million as of September 30, 2023 to $151.7 million as of September 30, 2024.

Interest income – securities lending decreased $50.0 million to $69.6 million during the nine months ended September 30, 2024 from $119.6 million during the nine months ended September 30, 2023. The decrease was due to a decrease in the securities borrowed balance from $2,782.0 million as of September 30, 2023 to $64.0 million as of September 30, 2024. 

Revenues from the sale of goods decreased $20.0 million to $164.3 million during the nine months ended September 30, 2024 from $184.3 million during the nine months ended September 30, 2023. The decrease in revenues from sale of goods was attributable to a decrease of $26.4 million from the Consumer Products segment due to a decrease in computer and peripheral sales worldwide and a decrease of $1.1 million from the Communications segment, partially offset by an increase of $7.4 million from All Other consisting of $6.0 million in sale of goods from Nogin which we acquired in the second quarter of 2024 and $1.4 million in sale of goods from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023. Cost of goods sold for the nine months ended September 30, 2024 decreased approximately $10.6 million to $118.9 million from $129.