XML 20 R4.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Total revenues $ 186,063 $ 297,590
Operating expenses:    
Direct cost of services 42,700 59,670
Cost of goods sold 36,733 38,827
Selling, general and administrative expenses 167,388 178,940
Restructuring charge (Note 4) 0 789
Interest expense - Securities lending and loan participations sold 719 35,383
Total operating expenses 247,540 313,609
Operating loss (61,477) (16,019)
Other income (expense):    
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 0
Gain on sale and deconsolidation of businesses [1] 80,841 314
Gain on senior note exchange 10,532 0
Loss from equity investments (552) (4)
Loss on extinguishment of debt [1] (10,427) 0
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 [1] (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)
Net loss available to common shareholders $ (11,990) $ (51,180)
Basic net (loss) income per common share:    
Continuing operations (in dollars per share) $ (0.50) $ (2.11)
Discontinued operations (in dollars per share) 0.11 0.40
Basic loss per common share (in dollars per share) (0.39) (1.71)
Diluted net (loss) income per common share:    
Continuing operations (in dollars per share) (0.50) (2.11)
Discontinued operations (in dollars per share) 0.11 0.40
Diluted loss per common share (in dollars per share) $ (0.39) $ (1.71)
Weighted average basic common shares outstanding (in shares) 30,497,512 29,989,584
Weighted average diluted common shares outstanding (in shares) 30,497,512 29,989,584
Services and fees    
Revenues:    
Total revenues $ 158,839 $ 214,081
Trading gains (losses), net    
Revenues:    
Total revenues (16,171) (17,667)
Fair value adjustments on loans    
Revenues:    
Total revenues (8,096) (12,201)
Interest income - loans    
Revenues:    
Total revenues 3,196 22,135
Interest income - securities lending    
Revenues:    
Total revenues 840 37,809
Sale of goods    
Revenues:    
Total revenues $ 47,455 $ 53,433
[1] Amounts presented contain results from both continuing and discontinued operations. Refer to Note 3 - Discontinued Operations and Assets Held for Sale for additional information regarding cash flow associated with the results of discontinued operations.