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BUSINESS SEGMENTS
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
The Company’s business is classified into six reportable operating segments: the Capital Markets segment, Wealth Management segment, Auction and Liquidation segment, Financial Consulting segment, Communications segment, and Consumer segment. These reportable segments are all distinct businesses, each with a different marketing strategy and management structure. During the fourth quarter of 2022, the Company realigned its segment reporting structure to reflect organizational changes from recent acquisitions and the manner in which capital is allocated. The Consumer segment includes the previously reported Brands segment and Targus, which the Company acquired in the fourth quarter of 2022. The Company has also re-aligned its previously reported Principal Investments - Communications and Other segment into the Communications segment and the All Other category that is reported with Corporate and Other below.
The following is a summary of certain financial data for each of the Company’s reportable segments:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2023202220232022
Capital Markets segment:(As Restated)(As Restated)
Revenues - Services and fees$80,913 $104,042 $183,803 $223,448 
Trading (loss) income and fair value adjustments on loans(11,077)(7,944)81,111 (147,035)
Interest income - Loans and securities lending69,730 55,054 222,115 178,879 
Total revenues139,566 151,152 487,029 255,292 
Selling, general and administrative expenses(62,898)(35,673)(174,479)(115,655)
Impairment of tradenames— — (1,733)— 
Interest expense - Securities lending and loan participations sold(38,368)(17,447)(106,572)(43,757)
Depreciation and amortization(900)(2,174)(3,149)(6,271)
Segment income37,400 95,858 201,096 89,609 
Wealth Management segment:  
Revenues - Services and fees50,875 47,145 146,660 184,963 
Trading income and fair value adjustments on loans490 1,027 2,235 3,077 
Total revenues51,365 48,172 148,895 188,040 
Selling, general and administrative expenses(47,891)(52,302)(143,177)(206,438)
Restructuring charge— (4,106)(61)(4,106)
Depreciation and amortization(1,075)(1,261)(3,243)(4,402)
Segment income (loss)2,399 (9,497)2,414 (26,906)
Auction and Liquidation segment:  
Revenues - Services and fees12,488 1,949 26,817 7,792 
Revenues - Sale of goods65,117 2,550 67,009 2,550 
Interest Income - Loan— 2,540 — 3,976 
Total revenues77,605 7,039 93,826 14,318 
Direct cost of services(15,234)(2,999)(21,815)(6,630)
Cost of goods sold(35,836)(1,235)(36,506)(1,235)
Selling, general and administrative expenses(8,405)(2,228)(12,987)(6,225)
Segment income18,130 577 22,518 228 
Financial Consulting segment:  
Revenues - Services and fees37,360 22,835 93,582 73,081 
Selling, general and administrative expenses(26,769)(20,056)(70,709)(60,947)
Depreciation and amortization(88)(75)(269)(234)
Segment income10,503 2,704 22,604 11,900 
Communications segment:  
Revenues - Services and fees82,155 72,244 250,523 142,366 
Revenues - Sale of goods1,638 1,580 5,145 5,345 
Total revenues83,793 73,824 255,668 147,711 
Direct cost of services(46,012)(38,515)(136,830)(64,320)
Cost of goods sold(1,750)(1,854)(5,964)(6,099)
Selling, general and administrative expenses(21,655)(21,047)(64,440)(41,468)
Restructuring charge(145)(3,910)(402)(3,910)
Depreciation and amortization(6,739)(6,060)(19,775)(12,799)
Segment income7,492 2,438 28,257 19,115 
Consumer segment:  
Revenues - Services and fees4,304 5,023 13,654 14,754 
Revenues - Sale of goods58,391 — 179,156 — 
Total revenues62,695 5,023 192,810 14,754 
Cost of goods sold(40,467)— (123,526)— 
Selling, general and administrative expenses(16,981)(845)(54,424)(2,419)
Depreciation and amortization(2,632)(579)(8,110)(1,745)
Restructuring charge(83)— (486)— 
Impairment of goodwill and tradenames(35,500)— (35,500)— 
Segment (loss) income(32,968)3,599 (29,236)10,590 
Consolidated operating income from reportable segments42,956 95,679 247,653 104,536 
All Other:
Revenues - Services and fees9,928 4,072 28,870 5,382 
Direct cost of services(6,604)(3,009)(19,543)(3,009)
Corporate and other expenses(25,655)(21,427)(68,438)(47,459)
Interest income180 686 3,455 1,253 
Dividend income12,876 9,175 35,635 26,279 
Realized and unrealized (losses) gains on investments(75,361)19,071 (84,960)(136,205)
Change in fair value of financial instruments and other(4,170)(574)(3,998)9,728 
(Loss) income on equity investments(308)(91)(175)3,285 
Interest expense(45,229)(34,587)(140,122)(96,787)
(Loss) income before income taxes(91,387)68,995 (1,623)(132,997)
 Benefit from (provision for) income taxes15,079 (16,350)(14,344)39,858 
Net (loss) income(76,308)52,645 (15,967)(93,139)
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests(2,485)4,808 (5,680)9,245 
Net (loss) income attributable to B. Riley Financial, Inc.(73,823)47,837 (10,287)(102,384)
Preferred stock dividends2,015 2,002 6,042 6,006 
Net (loss) income available to common shareholders$(75,838)$45,835 $(16,329)$(108,390)
The following table presents revenues by geographical area:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2023202220232022
(As Restated)(As Restated)
Revenues
Revenues - Services and fees
North America$277,353 $257,270 $742,194 $647,972 
Europe670 40 1,715 3,814 
Total Revenues - Services and fees278,023 257,310 743,909 651,786 
   
Trading (loss) income and fair value adjustments on loans  
North America(10,587)(6,917)83,346 (143,958)
  
Revenues - Sale of goods
North America31,087 1,825 98,440 5,590 
Australia2,393 — 9,023 — 
Europe, Middle East, and Africa82,261 2,305 116,887 2,305 
Asia7,224 — 19,765 — 
Latin America2,181 — 7,195 — 
Total Revenues - Sale of goods125,146 4,130 251,310 7,895 
  
Revenues - Interest income - Loans and securities lending  
North America69,730 55,054 222,115 178,879 
Europe— 2,540 — 3,976 
Total Revenues - Interest income - Loans and securities lending69,730 57,594 222,115 182,855 
  
Total Revenues  
North America367,583 307,232 1,146,095 688,483 
Australia2,393 — 9,023 — 
Europe, Middle East, and Africa82,931 4,885 118,602 10,095 
Asia7,224 — 19,765 — 
Latin America2,181 — 7,195 — 
Total Revenues$462,312 $312,117 $1,300,680 $698,578 
The following table presents long-lived assets, which consists of property and equipment, net, by geographical area:
September 30, 2023December 31, 2022
Long-lived Assets - Property and Equipment, net:
North America$24,083 $26,276 
Europe441 577 
Asia Pacific160 162 
Australia90 126 
Total$24,774 $27,141 
Segment assets are not reported to, or used by, the Company’s Chief Operating Decision Maker to allocate resources to, or assess performance of the segments and therefore, total segment assets have not been disclosed.