Company: RILYN
Filing Date: 2025-01-14
Form Type: 10-Q
Source: 0001628280-25-001398
Chunk: 421

Company: B. Riley Financial, Inc.
Filing Date: 2025-01-14
Form: 10-Q
Item: Part I, Item 8
Chunk 421
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The following period to period comparisons of our financial results and our interim results are not necessarily indicative of future results.

Six Months Ended June 30, 2024 Compared to Six Months Ended June 30, 2023

Condensed Consolidated Statements of Operations

(Dollars in thousands)

Six Months Ended June 30,Change20242023Amount%Revenues:Services and fees$505,328 $465,886 $39,442 8.5 %Trading (loss) income(48,988)41,450 (90,438)n/mFair value adjustments on loans(187,783)52,483 (240,266)n/mInterest income - loans40,643 75,138 (34,495)(45.9)%Interest income - securities lending62,607 77,247 (14,640)(19.0)%Sale of goods119,590 126,164 (6,574)(5.2)%Total revenues491,397 838,368 (346,971)(41.4)%Operating expenses:Direct cost of services122,677 110,338 12,339 11.2 %Cost of goods sold86,333 87,943 (1,610)(1.8)%Selling, general and administrative expenses418,886 401,512 17,374 4.3 %Restructuring charge809 721 88 12.2 %Impairment of tradenames27,681 1,733 25,948 n/mInterest expense - Securities lending and loan participations sold58,696 68,204 (9,508)(13.9)%Total operating expenses715,082 670,451 44,631 6.7 %Operating (loss) income(223,685)167,917 (391,602)n/mOther income (expense):Interest income1,473 3,275 (1,802)(55.0)%Dividend income21,024 22,759 (1,735)(7.6)%Realized and unrealized losses on investments(185,235)(9,599)(175,636)n/mChange in fair value of financial instruments and other151 172 (21)(12.2)%Income from equity investments6 133 (127)(95.5)%Interest expense(87,551)(94,893)7,342 (7.7