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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Assets:    
Cash and cash equivalents [1] $ 138,303 $ 146,852
Restricted cash 1,375 100,475
Due from clearing brokers 12,895 30,713
Securities and other investments owned (includes $161,543 and $215,225 at fair value as of March 31, 2025 and December 31, 2024, respectively) [1] 231,760 282,325
Securities borrowed 40,895 43,022
Accounts receivable, net of allowance for credit losses of $5,343 and $6,100 as of March 31, 2025 and December 31, 2024, respectively 61,597 68,653
Due from related parties 438 189
Loans receivable, at fair value (includes $61,316 and $51,902 from related parties as of March 31, 2025 and December 31, 2024, respectively) [1] 98,596 90,103
Prepaid expenses and other assets (includes $796 and $3,449 from related parties as of March 31, 2025 and December 31, 2024, respectively) [1] 241,753 242,916
Operating lease right-of-use assets 46,807 51,509
Property and equipment, net 17,969 18,679
Goodwill 392,687 392,687
Other intangible assets, net 139,629 146,446
Deferred income taxes 1,300 13,598
Total assets 1,511,003 1,783,263
Liabilities:    
Accounts payable 44,210 51,238
Accrued expenses and other liabilities [1] 182,161 185,745
Deferred revenue 57,254 58,148
Deferred income taxes 2,121 5,462
Due to related parties and partners 1,782 3,404
Securities sold not yet purchased 2,140 5,675
Securities loaned 22,987 27,942
Operating lease liabilities 54,143 58,499
Notes payable 0 28,021
Loan participations sold 9,986 6,000
Revolving credit facility 13,800 16,329
Term loans, net 184,088 199,429
Senior notes payable, net 1,370,769 1,530,561
Total liabilities 1,964,973 2,239,279
Commitments and contingencies (Note 16)
B. Riley Financial, Inc. equity (deficit):    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 4,563 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively; and liquidation preference of $116,097 and $114,082 as of March 31, 2025 and December 31, 2024, respectively 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 30,497,066 and 30,499,931 issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 3 3
Additional paid-in capital 591,207 589,387
Accumulated deficit (1,080,971) (1,070,996)
Accumulated other comprehensive loss (7,056) (6,569)
Total B. Riley Financial, Inc. stockholders’ deficit (496,817) (488,175)
Noncontrolling interests [1] 42,847 32,159
Total deficit (453,970) (456,016)
Total liabilities and deficit 1,511,003 1,783,263
Disposal Group, Held-for-Sale, Not Discontinued Operations    
Assets:    
Assets held for sale (Note 3) 20,125 84,723
Liabilities:    
Liabilities held for sale (Note 3) 419 41,505
Discontinued Operations, Disposed of by Sale    
Assets:    
Assets of discontinued operations (Note 3) 64,874 70,373
Liabilities:    
Liabilities of discontinued operations (Note 3) $ 19,113 $ 21,321
[1] At March 31, 2025, the balance sheet includes cash of $744, securities and other investments owned, at fair value of $577, loans receivable, at fair value of $3,575, prepaid and other expenses of $3,824, accrued expenses and other liabilities of $528 and noncontrolling interest of $7,099 of consolidated variable interest entities (Note 2(o)).