Company: RILYN
Filing Date: 2025-08-12
Form Type: NT 10-Q
Source: 0001213900-25-075050
Chunk: 2

Company: B. Riley Financial, Inc.
Filing Date: 2025-08-12
Form: NT 10-Q
Chunk 2
---
 of $120 million to $140 million, or $3.93 to $4.59 net
income per diluted common share compared to a net loss available to common shareholders of $(436) million or $(14.35) per diluted common
share for the three months ended June 30, 2024. Results for the quarterly period ended June 30, 2025 includes a gain from the sale of
GlassRatner Advisory & Capital Group, LLC (“GlassRatner”) of approximately $66 million and a gain of approximately $45
million from the exchange of certain outstanding senior notes. The Company is working to complete the audit and finalize the Annual Report
on Form 10-K for the year ended December 31, 2024 and the Quarterly Report on Form 10-Q for the three months ended March 31, 2025.

Cash, cash equivalents, and restricted cash as of June 30, 2025 of approximately $268 million, which included approximately $267 million of cash and cash equivalents and $1 million of restricted cash. This is an increase in cash, cash equivalents, and restricted cash from $257 million as of December 31, 2024. In the comparable quarter ended June 30, 2024, cash, cash equivalents, and restricted cash totaled $239 million.

Total loans receivable, securities and other investments
and amounts due from clearing brokers are estimated to be approximately $410 to $440 million at June 30, 2025. The Company estimates liabilities
related to loan participations sold of approximately $10 million at June 30, 2025. Total assets of the Company are estimated to be approximately
$1.5 billion at June 30, 2025, a decrease from approximately $3.2 billion in the comparable period ended June 30, 2024. The decrease in
total assets is due to a decrease of $0.7 billion in securities borrowed and a decrease in assets of related to the sale of the Great
American businesses and Brands assets in the fourth quarter of 2024 and the sale of GlassRatner in June 2025.

Total debt is estimated to be approximately $1.46 billion at
June 30, 2025, a decrease of approximately $0.7 billion from $2.16 billion at June 30, 2024. The decrease includes approximately $146
million reduction in the outstanding balance from retiring the senior notes due February 28, 2025