Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 214

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 2
Chunk 214
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 2024 decreased approximately $1.6 million to $86.3 million from $87.9 million during the six months ended June 30, 2023. The decrease in cost of goods sold was primarily attributable to decreases of $10.2 million in the Consumer Products segment and $1.2 million in the Communications segment, partially offset by increases of $7.1 million from the Auction and Liquidation segment and $2.7 million from All Other consisting of $1.6 million from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023 and $1.1 million from Nogin which we acquired in the second quarter of 2024.

Operating Expenses

Direct Cost of Services

Direct cost of services increased approximately $12.3 million to $122.7 million during the six months ended June 30, 2024 from $110.3 million during the six months ended June 30, 2023. The increase in direct cost of services was primarily attributable to increases of $4.3 million from the Communications segment and $10.3 million from All Other consisting of to $8.7 million from bebe in which we acquired a controlling interest and consolidated during the fourth quarter of 2023 and $1.6 million from Nogin which we acquired in the second quarter of 2024, partially offset by a decrease of $2.3 million from the Auction and Liquidation segment due to the number and size of fee deals in prior year.  

Selling, General and Administrative Expenses 

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

 Six Months EndedJune 30, 2024Six Months EndedJune 30, 2023Change Amount%Amount%Amount%Capital Markets segment $104,546 24.9 %$113,830 28.4 %$(9,284)(8.2)%Wealth Management segment 99,308 23.7 %97,454 24.3 %1,854 1.9 %Auction and Liquidation segment 3,369 0.8 %4,582 1.1 %(1,213)(26.5)%Financial Consulting segment 57,612 13.8 %44,121 11.0 %13,491 30.6 %Communications segment49,353