Company: RILYN
Filing Date: 2025-11-12
Form Type: NT 10-Q
Source: 0001213900-25-109341
Chunk: 2

Company: B. Riley Financial, Inc.
Filing Date: 2025-11-12
Form: NT 10-Q
Chunk 2
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 $2.52
net income per diluted common share compared to a net loss available to common shareholders of $(286) million or $(9.39) per diluted common
share for the three months ended September 30, 2024. Results for the quarterly period ended September 30, 2025 include an unrealized gain
of approximately $53 million on investments.

Cash, cash equivalents, and restricted cash as
of September 30, 2025 of approximately $185 million, which included approximately $184 million of cash and cash equivalents
and $1 million of restricted cash. This is a decrease in cash, cash equivalents, and restricted cash from $247 million as of
December 31, 2024. In the comparable quarter ended September 30, 2024, cash, cash equivalents, and restricted cash totaled $153 million.

Total securities and other investment, loans receivable,
and amounts due from clearing brokers are estimated to be approximately $600 to $620 million at September 30, 2025. Total assets of the
Company are estimated to be approximately $1.7 billion at September 30, 2025, a decrease from approximately $2.2 billion in the comparable
period ended September 30, 2024 and a decrease from approximately 1.8 billion in the period ended December 31, 2024. The decrease in total
assets relative to the period ended September 30, 2024 is primarily driven by a decrease in Assets from Discontinued Operations of approximately
$364 million and by a decrease in Loans Receivable at Fair Value of approximately $97 million. The decrease in total assets relative to
the period ended December 31, 2024 is primarily driven by a decrease in Assets Held for Sale of approximately $85 million.

Total debt is estimated to be approximately $1.44 billion at
September 30, 2025, a decrease of approximately $619 million from $2.06 billion at September 30, 2024 and a decrease of approximately
$330 million from $1.77 billion at December 31, 2024. The decrease in total debt during the twelve months ended September 30, 2025 includes
approximately $347 million primarily related to the servicing of existing debt, approximately $145 million reduction in the outstanding
balance from retiring the senior notes due February 28, 2025, and approximately $127 million related to the exchange of certain senior
notes. The decrease in total debt during the