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BUSINESS SEGMENTS (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

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,
			2024						2023						2024						2023
Capital Markets segment:
Revenues - Services and fees			$	30,437					$	80,913					$	141,026					$	183,803
Trading (loss) income			(1,908)						(10,217)						(52,787)						29,488
Fair value adjustment on loans			(71,477)						(860)						(259,260)						51,623
Interest income - loans			11,251						27,397						51,894						102,535
Interest income - securities lending			7,007						42,333						69,614						119,580
Total revenues			(24,690)						139,566						(49,513)						487,029
Selling, general and administrative expenses			(30,453)						(62,898)						(133,483)						(174,479)
Impairment of tradenames			—						—						—						(1,733)
Interest expense - Securities lending and loan participations sold			(6,359)						(38,368)						(65,055)						(106,572)
Depreciation and amortization			(817)						(900)						(2,333)						(3,149)
Segment (loss) income			(62,319)						37,400						(250,384)						201,096
Wealth Management segment:
Revenues - Services and fees			49,389						50,875						150,153						146,660
Trading income			670						490						2,561						2,235
Total revenues			50,059						51,365						152,714						148,895
Selling, general and administrative expenses			(48,234)						(47,891)						(145,439)						(143,177)
Restructuring charge			—						—						—						(61)
Depreciation and amortization			(1,045)						(1,075)						(3,148)						(3,243)
Segment income (loss)			780						2,399						4,127						2,414

Financial Consulting segment:
Revenues - Services and fees			23,941						20,225						69,383						52,325
Selling, general and administrative expenses			(19,705)						(17,843)						(56,277)						(42,932)
Depreciation and amortization			(108)						(82)						(276)						(234)
Segment income			4,128						2,300						12,830						9,159
Communications segment:
Revenues - Services and fees			66,241						82,155						225,055						250,523
Revenues - Sale of goods			1,318						1,638						4,079						5,145
Total revenues			67,559						83,793						229,134						255,668
Direct cost of services			(36,253)						(46,012)						(131,346)						(136,830)
Cost of goods sold			(1,350)						(1,750)						(4,323)						(5,964)
Selling, general and administrative expenses			(16,665)						(21,655)						(54,136)						(64,440)
Restructuring charge			(116)						(145)						(379)						(402)
Depreciation and amortization			(4,868)						(6,739)						(16,750)						(19,775)
Segment income			8,307						7,492						22,200						28,257
Consumer Products segment:
Revenues - Sale of goods			49,793						58,391						152,739						179,156
Cost of goods sold			(36,406)						(40,467)						(109,270)						(123,526)
Selling, general and administrative expenses			(14,959)						(16,214)						(45,602)						(51,990)
Depreciation and amortization			(1,934)						(2,595)						(5,862)						(7,784)
Restructuring charge			—						(83)						(546)						(486)
Impairment of goodwill and tradenames			—						(35,500)						(27,681)						(35,500)
Segment loss			(3,506)						(36,468)						(36,222)						(40,130)
Consolidated operating (loss) income from reportable segments			(52,610)						13,123						(247,449)						200,796
All Other:
Revenues - Services and fees			28,506						9,928						75,329						28,870
Revenues - Sale of goods			4,137						—						7,436						—
Total revenues			32,643						9,928						82,765						28,870
Direct cost of services			(13,406)						(6,604)						(36,662)						(19,543)
Cost of goods sold			(2,556)						—						(5,304)						—
Corporate and other expenses			(45,817)						(24,429)						(114,071)						(68,761)
Interest income			1,438						180						2,909						3,455
Dividend income			675						3,373						4,139						9,541
Realized and unrealized (losses) gains on investments			(22,197)						(77,287)						(212,362)						(77,020)
Change in fair value of financial instruments and other			476						(4,170)						627						(3,998)
Income from equity investments			6						(308)						12						(175)
Interest expense			(32,996)						(37,493)						(102,195)						(118,630)
Loss from continuing operations before income taxes			(134,344)						(123,687)						(627,591)						(45,465)
Provision for income taxes			(14,508)						23,638						(17,915)						(3,045)
Loss from continuing operations			(148,852)						(100,049)						(645,506)						(48,510)
(Loss) income from discontinued operations, net of income taxes			(138,746)						23,741						(123,827)						32,543
Net loss			(287,598)						(76,308)						(769,333)						(15,967)
Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests			(3,201)						(2,485)						(2,167)						(5,680)
Net (loss) income attributable to B. Riley Financial, Inc.			(284,397)						(73,823)						(767,166)						(10,287)

Preferred stock dividends			2,015						2,015						6,045						6,042
Net (loss) income available to common shareholders			$	(286,412)					$	(75,838)					$	(773,211)					$	(16,329)

Schedule of Revenues by Geographical Area

The following table presents revenues by geographical area:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Revenues
Services and fees
North America			$	198,514					$	244,096					$	660,946					$	662,181
Trading (loss) income
North America			(1,238)						(9,727)						(50,226)						31,723
Fair value adjustments on loans
North America			(71,477)						(860)						(259,260)						51,623
Interest income - loans
North America			11,251						27,397						51,894						102,535
Interest income - securities lending
North America			7,007						42,333						69,614						119,580
Sale of goods
North America			30,218						31,068						87,984						98,422
Australia			2,735						2,394						9,196						9,023
Europe, Middle East, and Africa			14,556						17,162						41,508						49,896
Asia			5,540						7,224						18,674						19,765
Latin America			2,199						2,181						6,892						7,195
Total - Sale of goods			55,248						60,029						164,254						184,301
Total Revenues
North America			174,275						334,307						560,952						1,066,064
Australia			2,735						2,394						9,196						9,023
Europe, Middle East, and Africa			14,556						17,162						41,508						49,896
Asia			5,540						7,224						18,674						19,765
Latin America			2,199						2,181						6,892						7,195
Total Revenues			$	199,305					$	363,268					$	637,222					$	1,151,943

Long-Lived Assets by Geographic Areas

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

			September 30, 2024						December 31, 2023
Long-lived Assets - Property and Equipment, net:
North America			$	43,001					$	24,594
Europe			262						396
Asia Pacific			96						133
Australia			63						83
Total			$	43,422					$	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.

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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.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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