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BUSINESS SEGMENTS (Tables) | 3 Months Ended
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Mar. 31, 2025
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 March 31,
|  |  |  |  | 2025 |  | 2024
Capital Markets segment: |  |  |  |  |  |  |
Revenues - Services and fees |  |  |  |  | $ | 25,205 |  |  | $ | 60,347 |
Trading gains (losses), net |  |  |  |  | (16,783) |  |  | (18,267) |
Fair value adjustment on loans |  |  |  |  | (8,096) |  |  | (12,201) |
Interest income - loans |  |  |  |  | 3,196 |  |  | 22,135 |
Interest income - securities lending |  |  |  |  | 840 |  |  | 37,809 |
Total revenues |  |  |  |  | 4,362 |  |  | 89,823 |
Employee compensation and benefits |  |  |  |  | (22,231) |  |  | (39,058) |
Professional services |  |  |  |  | (2,253) |  |  | (995) |
Occupancy-related costs |  |  |  |  | (2,092) |  |  | (2,052) |
Other selling, general and administrative expenses |  |  |  |  | (14,570) |  |  | (11,119) |
Interest expense - Securities lending and loan participations sold |  |  |  |  | (719) |  |  | (35,383) |
Depreciation and amortization |  |  |  |  | (691) |  |  | (771) |
Segment (loss) income |  |  |  |  | (38,194) |  |  | 445 |
Wealth Management segment: |  |  |  |  |  |  |
Revenues - Services and fees |  |  |  |  | 46,666 |  |  | 51,182 |
Trading income |  |  |  |  | 612 |  |  | 600 |
Total revenues |  |  |  |  | 47,278 |  |  | 51,782 |
Employee compensation and benefits |  |  |  |  | (33,670) |  |  | (40,420) |
Professional services |  |  |  |  | (409) |  |  | (472) |
Occupancy-related costs |  |  |  |  | (3,482) |  |  | (3,255) |
Other selling, general and administrative expenses |  |  |  |  | (6,987) |  |  | (4,901) |
Depreciation and amortization |  |  |  |  | (1,006) |  |  | (1,055) |
Segment income |  |  |  |  | 1,724 |  |  | 1,679 |
Communications segment: |  |  |  |  |  |  |
Revenues - Services and fees |  |  |  |  | 63,173 |  |  | 81,070 |
Revenues - Sale of goods |  |  |  |  | 1,301 |  |  | 1,296 |
Total revenues |  |  |  |  | 64,474 |  |  | 82,366 |
Direct cost of services |  |  |  |  | (32,624) |  |  | (48,819) |
Cost of goods sold |  |  |  |  | (1,517) |  |  | (1,359) |
Employee compensation and benefits |  |  |  |  | (7,144) |  |  | (9,131) |
Professional services |  |  |  |  | (949) |  |  | (965) |
Occupancy-related costs |  |  |  |  | (2,025) |  |  | (2,591) |
Other selling, general and administrative expenses |  |  |  |  | (5,749) |  |  | (5,230) |
Restructuring charge |  |  |  |  | — |  |  | (263) |
Depreciation and amortization |  |  |  |  | (4,790) |  |  | (5,957) |
Segment income |  |  |  |  | 9,676 |  |  | 8,051 |
Consumer Products segment: |  |  |  |  |  |  |
Revenues - Sale of goods |  |  |  |  | 42,103 |  |  | 51,522 |
Cost of goods sold |  |  |  |  | (31,629) |  |  | (36,880) |
Employee compensation and benefits |  |  |  |  | (9,903) |  |  | (10,443) |
Professional services |  |  |  |  | (1,175) |  |  | (1,793) |
Occupancy-related costs |  |  |  |  | (1,450) |  |  | (1,584) |
Other selling, general and administrative expenses |  |  |  |  | (1,175) |  |  | (1,705) |
Depreciation and amortization |  |  |  |  | (1,912) |  |  | (1,997) |
Restructuring charge |  |  |  |  | — |  |  | (526) |
Segment loss |  |  |  |  | (5,141) |  |  | (3,406) |
E-Commerce segment: |  |  |  |  |  |  |
Revenues - Services and fees |  |  |  |  | 3,469 |  |  | — |
Revenues - Sale of goods |  |  |  |  | 3,528 |  |  | — |
Total revenues |  |  |  |  | 6,997 |  |  | — |
Direct cost of services |  |  |  |  | (1,552) |  |  | — |
Cost of goods sold |  |  |  |  | (3,131) |  |  | — |
Employee compensation and benefits |  |  |  |  | (3,153) |  |  | — |
Professional services |  |  |  |  | (2,141) |  |  | — |
Occupancy-related costs |  |  |  |  | (642) |  |  | — |
Other selling, general and administrative expenses |  |  |  |  | (2,454) |  |  | — |
Depreciation and amortization |  |  |  |  | (38) |  |  | — |
Segment loss |  |  |  |  | (6,114) |  |  | — |
Consolidated operating (loss) income from reportable segments |  |  |  |  | (38,049) |  |  | 6,769 |
All Other: |  |  |  |  |  |  |
Revenues - Services and fees |  |  |  |  | 19,196 |  |  | 21,482 |
Revenues - Sale of goods |  |  |  |  | 523 |  |  | 615 |
Total revenues |  |  |  |  | 19,719 |  |  | 22,097 |
Direct cost of services |  |  |  |  | (8,524) |  |  | (10,851) |
Cost of goods sold |  |  |  |  | (456) |  |  | (588) |
Employee compensation and benefits |  |  |  |  | (5,247) |  |  | (6,054) |
Professional services |  |  |  |  | (657) |  |  | (597) |
Occupancy-related costs |  |  |  |  | (1,005) |  |  | (2,680) |
Other selling, general and administrative expenses |  |  |  |  | (6,082) |  |  | (2,884) |
Depreciation and amortization |  |  |  |  | (1,410) |  |  | (1,083) |
Corporate: |  |  |  |  |  |  |
Revenues - Services and fees |  |  |  |  | 1,130 |  |  | — |
Employee compensation and benefits |  |  |  |  | (10,638) |  |  | (13,452) |
Professional services |  |  |  |  | (10,639) |  |  | (11,286) |
Occupancy-related costs |  |  |  |  | (1,627) |  |  | (1,965) |
Other selling, general and administrative expenses |  |  |  |  | 2,160 |  |  | 6,706 |
Depreciation and amortization |  |  |  |  | (152) |  |  | (151) |
Operating loss |  |  |  |  | (61,477) |  |  | (16,019) |
Interest income |  |  |  |  | 1,486 |  |  | 663 |
Dividend income |  |  |  |  | 135 |  |  | 3,004 |
Realized and unrealized losses on investments |  |  |  |  | (14,500) |  |  | (34,924) |
Change in fair value of financial instruments and other |  |  |  |  | 922 |  |  | — |
Gain on sale and deconsolidation of businesses |  |  |  |  | 80,841 |  |  | 314 |
Gain on senior note exchange |  |  |  |  | 10,532 |  |  | — |
Loss from equity investments |  |  |  |  | (552) |  |  | (4) |
Loss on extinguishment of debt |  |  |  |  | (10,427) |  |  | — |
Interest expense: |  |  |  |  |  |  |
Capital Markets segment |  |  |  |  | (49) |  |  | (156) |
Communications segment |  |  |  |  | (1,653) |  |  | (2,610) |
Consumer Products segment |  |  |  |  | (417) |  |  | (1,431) |
E-Commerce segment |  |  |  |  | (396) |  |  | — |
Corporate and other |  |  |  |  | (27,449) |  |  | (31,468) |
Interest expense |  |  |  |  | (29,964) |  |  | (35,665) |
Loss from continuing operations before income taxes |  |  |  |  | (23,004) |  |  | (82,631) |
Benefit from income taxes |  |  |  |  | 3,042 |  |  | 21,330 |
Loss from continuing operations |  |  |  |  | (19,962) |  |  | (61,301) |
Income from discontinued operations, net of income taxes |  |  |  |  | 3,395 |  |  | 13,347 |
Net loss |  |  |  |  | (16,567) |  |  | (47,954) |
Net (loss) income attributable to noncontrolling interests |  |  |  |  | (6,592) |  |  | 1,211 |
Net loss attributable to B. Riley Financial, Inc. |  |  |  |  | (9,975) |  |  | (49,165) |
Preferred stock dividends |  |  |  |  | 2,015 |  |  | 2,015 |
Net loss available to common shareholders |  |  |  |  | $ | (11,990) |  |  | $ | (51,180) |
Schedule of Revenues by Geographical Area | The following table presents revenues by geographical area:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024
Services and fees |  |  |  |  |  |  |
North America |  |  |  |  | $ | 158,839 |  |  | $ | 214,081 |
Trading gains (losses), net |  |  |  |  |  |  |
North America |  |  |  |  | (16,171) |  |  | (17,667) |
Fair value adjustments on loans |  |  |  |  |  |  |
North America |  |  |  |  | (8,096) |  |  | (12,201) |
Interest income - loans |  |  |  |  |  |  |
North America |  |  |  |  | 3,196 |  |  | 22,135 |
Interest income - securities lending |  |  |  |  |  |  |
North America |  |  |  |  | 840 |  |  | 37,809 |
Sale of goods |  |  |  |  |  |  |
North America |  |  |  |  | 26,221 |  |  | 28,879 |
Australia |  |  |  |  | 2,119 |  |  | 2,624 |
Europe, Middle East, and Africa |  |  |  |  | 12,227 |  |  | 13,813 |
Asia |  |  |  |  | 4,950 |  |  | 6,354 |
Latin America |  |  |  |  | 1,938 |  |  | 1,763 |
Total - Sale of goods |  |  |  |  | 47,455 |  |  | 53,433 |
Total Revenues |  |  |  |  |  |  |
North America |  |  |  |  | 164,829 |  |  | 273,036 |
Australia |  |  |  |  | 2,119 |  |  | 2,624 |
Europe, Middle East, and Africa |  |  |  |  | 12,227 |  |  | 13,813 |
Asia |  |  |  |  | 4,950 |  |  | 6,354 |
Latin America |  |  |  |  | 1,938 |  |  | 1,763 |
Total Revenues |  |  |  |  | $ | 186,063 |  |  | $ | 297,590 |
Long-Lived Assets by Geographic Areas | The following table presents long-lived assets, which consists of property and equipment, net, by geographical area:
| March 31, 2025 |  | December 31, 2024
Long-lived Assets - Property and Equipment, net: |  |  |
North America | $ | 17,668 |  |  | $ | 18,327 |
Europe | 178 |  |  | 217 |
Asia Pacific | 71 |  |  | 81 |
Australia | 52 |  |  | 54 |
Total | $ | 17,969 |  |  | $ | 18,679 |

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