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BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Reconciliation of operating profit (loss) from segments to consolidated

The following is a summary of certain financial data for each of the Company’s reportable segments:

			Year Ended December 31,
			2024						2023						2022
Capital Markets segment:
Revenues - Services and fees			$	192,499					$	249,036					$	292,933
Trading (loss) income			(60,285)						16,845						(151,816)
Fair value adjustments on loans			(325,498)						20,225						(54,334)
Interest income - loans			54,141						123,244						157,669
Interest income - securities lending			70,862						161,652						83,144
Total revenues			(68,281)						571,002						327,596
Employee compensation and benefits			(123,520)						(154,514)						(176,253)
Professional services			(4,012)						(18,967)						59,807
Occupancy-related costs			(8,189)						(9,242)						(9,226)
Other selling, general and administrative expenses			(42,823)						(42,270)						(45,333)
Interest expense - Securities lending and loan participations sold			(66,128)						(145,435)						(66,495)
Depreciation and amortization			(3,155)						(3,998)						(8,493)
Impairment of tradenames			—						(1,733)						—
Segment (loss) income			(316,108)						194,843						81,603

			Year Ended December 31,
			2024						2023						2022
Wealth Management segment:
Revenues - Services and fees			197,468						193,487						230,735
Trading income			3,278						4,758						3,522
Total revenues			200,746						198,245						234,257
Employee compensation and benefits			(156,715)						(152,309)						(191,238)
Professional services			(2,814)						(3,127)						(7,550)
Occupancy-related costs			(11,464)						(13,935)						(16,797)
Other selling, general and administrative expenses			(19,146)						(21,408)						(42,549)
Restructuring charge			—						(61)						(4,955)
Depreciation and amortization			(4,177)						(4,308)						(5,488)
Segment income (loss)			6,430						3,097						(34,320)
Financial Consulting segment:
Revenues - Services and fees			92,176						77,283						50,357
Employee compensation and benefits			(54,986)						(48,158)						(34,724)
Professional services			(1,251)						(1,067)						(1,167)
Occupancy-related costs			(3,641)						(3,227)						(2,646)
Other selling, general and administrative expenses			(14,321)						(11,596)						(8,053)
Depreciation and amortization			(379)						(318)						(201)
Segment income			17,598						12,917						3,566
Communications segment:
Revenues - Services and fees			289,435						330,952						228,129
Revenues - Sale of goods			5,589						6,737						7,526
Total revenues			295,024						337,689						235,655
Direct cost of services			(165,302)						(183,993)						(108,686)
Cost of goods sold			(6,088)						(7,848)						(8,592)
Employee compensation and benefits			(33,351)						(43,090)						(32,012)
Professional services			(5,022)						(3,743)						(4,706)
Occupancy-related costs			(9,919)						(11,629)						(8,962)
Other selling, general and administrative expenses			(24,244)						(25,180)						(19,156)
Depreciation and amortization			(21,548)						(25,941)						(19,165)
Restructuring charge			(379)						(1,540)						(4,056)
Segment income			29,171						34,725						30,320
Consumer Products segment:
Revenues - Sale of goods			202,597						233,202						77,821
Cost of goods sold			(152,625)						(164,635)						(52,162)
Employee compensation and benefits			(39,650)						(41,065)						(9,645)
Professional services			(8,544)						(10,020)						(3,043)
Occupancy-related costs			(6,518)						(6,606)						(1,512)
Other selling, general and administrative expenses			(6,812)						(9,538)						(1,103)
Depreciation and amortization			(7,991)						(9,918)						(2,168)
Impairment of goodwill and other intangible assets			(31,681)						(68,600)						—
Restructuring charge			(1,143)						(530)						—
Segment (loss) income			(52,367)						(77,710)						8,188

			Year Ended December 31,
			2024						2023						2022
E-Commerce segment:
Revenues - Services and fees			13,855						—						—
Revenues - Sale of goods			10,646						—						—
Total revenues			24,501						—						—
Direct cost of services			(6,449)						—						—
Cost of goods sold			(6,959)						—						—
Employee compensation and benefits			(10,732)						—						—
Professional services			(3,681)						—						—
Occupancy-related costs			(2,403)						—						—
Other selling, general and administrative expenses			(7,025)						—						—
Depreciation and amortization			(1,469)						—						—
Impairment of goodwill and other intangible assets			(73,692)						—						—
Segment loss			(87,909)						—						—
Consolidated operating (loss) income from reportable segments			(403,185)						167,872						89,357
All Other:
Revenues - Services and fees			89,449						47,992						13,797
Revenues - Sale of goods			1,787						364						—
Total revenues			91,236						48,356						13,797
Direct cost of services			(42,150)						(30,072)						(9,849)
Cost of goods sold			(1,962)						(353)						—
Employee compensation and benefits			(22,491)						(11,252)						(2,871)
Professional services			(2,950)						(2,433)						(757)
Occupancy-related costs			(10,085)						(3,723)						(334)
Other selling, general and administrative expenses			(13,208)						(6,300)						(1,198)
Depreciation and amortization			(5,989)						(3,971)						(1,438)
Corporate:
Revenues - Services and fees			598						—						—
Employee compensation and benefits			(45,156)						(57,614)						(61,719)
Professional services			(32,200)						(16,136)						(7,496)
Occupancy-related costs			(8,036)						(7,659)						(6,368)
Other selling, general and administrative expenses			20,444						20,085						19,539
Depreciation and amortization			(604)						(749)						(801)

			Year Ended December 31,
			2024						2023						2022
Operating (loss) income			(475,738)						96,051						29,862
Interest income			3,621						3,875						2,735
Dividend income			4,462						12,747						7,851
Realized and unrealized losses on investments			(263,686)						(162,053)						(247,540)
Change in fair value of financial instruments and other			4,614						(3,998)						10,188
Gain on bargain purchase			—						15,903						—
Income (loss) from equity method investments			31						(152)						3,570
Loss on extinguishment of debt			(18,725)						(5,409)						—
Interest expense:
Capital Markets segment			(633)						(14,986)						(5,928)
Communications segment			(9,288)						(11,573)						(5,099)
Consumer Products segment			(4,261)						(7,924)						(1,318)
E-Commerce segment			(1,056)						—						—
Corporate and other			(118,070)						(121,757)						(128,658)
Interest expense			(133,308)						(156,240)						(141,003)
Loss from continuing operations before income taxes			(878,729)						(199,276)						(334,337)
(Provision for) benefit from income taxes			(22,125)						39,115						65,252
Loss from continuing operations			(900,854)						(160,161)						(269,085)
Income from discontinued operations, net of income taxes			125,915						54,530						112,491
Net loss			(774,939)						(105,631)						(156,594)
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests			(10,665)						(5,721)						3,235
Net loss attributable to B. Riley Financial, Inc.			(764,274)						(99,910)						(159,829)
Preferred stock dividends			8,060						8,057						8,008
Net loss available to common shareholders			$	(772,334)					$	(107,967)					$	(167,837)

Schedule of revenues by geographical area

The following table presents revenues by geographical area:

			Year Ended December 31,
			2024						2023						2022
Revenues
Services and fees
North America			$	875,480					$	898,750					$	815,951
Trading loss (income)
North America			(57,007)						21,603						(148,294)
Fair value adjustments on loans
North America			(325,498)						20,225						(54,334)
Interest income - loans
North America			54,141						123,244						157,669
Interest income - securities lending
North America			70,862						161,652						83,144
Sale of goods
North America			118,676						126,297						51,899
Australia			12,305						11,878						4,903
Europe, Middle East, and Africa			55,517						65,596						18,485
Asia			24,736						26,790						7,970
Latin America			9,385						9,742						2,090
Total - Sale of goods			220,619						240,303						85,347
Total Revenues
North America			736,654						1,351,771						906,035
Australia			12,305						11,878						4,903
Europe, Middle East, and Africa			55,517						65,596						18,485
Asia			24,736						26,790						7,970
Latin America			9,385						9,742						2,090
Total Revenues			$	838,597					$	1,465,777					$	939,483

Long-lived assets by geographic areas

The following table presents long-lived assets, which consist of property and equipment, net, by geographical area:

			December 31, 2024						December 31, 2023
Long-lived Assets - Property and Equipment, net:
North America			$	18,602					$	24,594
Europe			217						396
Asia Pacific			81						133
Australia			54						83
Total			$	18,954					$	25,206

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

+ References

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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
-Publisher FASB
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Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
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-Publisher FASB
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- Definition

Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries.

+ References

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-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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