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ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The fair value of acquisition consideration and preliminary purchase price allocation was as follows:

Consideration paid:
Cash						$	18,670
Credit bid - Settlement of DIP Facility						37,700
Total Consideration						$	56,370

Assets acquired and liabilities assumed:
Cash and cash equivalents						$	604
Accounts receivable						421
Prepaid and other assets						6,826
Operating lease right-of-use assets						740
Property and equipment						400
Other intangible assets						17,350
Deferred income taxes						227
Accounts payable						(9,731)
Accrued expenses and other liabilities						(10,309)
Deferred revenue						(95)
Operating lease liabilities						(740)
Note payable						(700)
Net tangible assets acquired and assumed						4,993
Goodwill						56,028
Noncontrolling interest						(4,651)
Total						$	56,370

Schedule of Acquired Indefinite-Lived Intangible Assets by Major Class

The following is a summary of identifiable intangible assets acquired and the related expected lives for the finite-lived intangible assets:

Category

Useful life

Fair Value

Customer relationships

9 Years

$

10,300

Internally developed software and other intangibles

8 Years

3,950

Trademarks

10 Years

3,100

Total

$

17,350

Business Acquisition, Pro Forma Information

The pro forma financial information as presented below is for informational purposes only and is not necessarily indicative of the results of operations that would have been achieved if the acquisition of the equity investment had taken place at the beginning of the earliest period presented, nor does it intend to be a projection of future results.

						Pro Forma (unaudited)
						Three Months Ended September 30, 2023						Nine Months Ended September 30, 2023
Revenues						$	462,312					$	1,300,680
Net loss attributable to B. Riley Financial, Inc.						$	(75,093)					$	(16,127)
Net loss attributable to common shareholders						$	(77,108)					$	(22,169)
Basic income per share						$	(2.54)					$	(0.73)
Diluted income per share						$	(2.51)					$	(0.71)
Weighted average basic shares outstanding						30,330,025						30,502,179
Weighted average diluted shares outstanding						30,745,155						31,173,794

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-SubTopic 10
-Topic 805
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-SubTopic 10
-Topic 805
-Publisher FASB
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Tabular disclosure of acquired indefinite-lived intangible asset by major class.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

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-Name Accounting Standards Codification
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