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BUSINESS SEGMENTS (Tables)

6 Months Ended

Jun. 30, 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 June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Capital Markets segment:
Revenues - Services and fees			$	39,095					$	50,242					$	64,300					$	110,589
Trading gains (losses), net			22,480						(32,612)						5,697						(50,879)
Fair value adjustment on loans			800						(175,582)						(7,296)						(187,783)
Interest income - loans			3,853						18,508						7,049						40,643
Interest income - securities lending			2,124						24,798						2,964						62,607
Total revenues			68,352						(114,646)						72,714						(24,823)
Employee compensation and benefits			(29,815)						(34,679)						(52,046)						(73,737)
Professional services			(1,655)						(1,060)						(3,908)						(2,055)
Occupancy-related costs			(1,699)						(1,988)						(3,791)						(4,040)
Other selling, general and administrative expenses			(10,765)						(12,079)						(25,335)						(23,198)
Interest expense - Securities lending and loan participations sold			(1,968)						(23,313)						(2,687)						(58,696)
Depreciation and amortization			(692)						(745)						(1,383)						(1,516)
Segment income (loss)			21,758						(188,510)						(16,436)						(188,065)
Wealth Management segment:
Revenues - Services and fees			33,421						49,582						80,087						100,764
Trading gains (losses), net			5,200						1,291						5,812						1,891
Total revenues			38,621						50,873						85,899						102,655
Employee compensation and benefits			(29,499)						(39,303)						(63,169)						(79,723)
Professional services			(582)						(472)						(991)						(944)
Occupancy-related costs			(4,513)						(2,877)						(7,995)						(6,132)
Other selling, general and administrative expenses			(4,935)						(5,505)						(11,922)						(10,406)
Depreciation and amortization			(411)						(1,048)						(1,417)						(2,103)
Segment (loss) income			(1,319)						1,668						405						3,347
Communications segment:
Revenues - Services and fees			60,732						77,744						123,905						158,814
Revenues - Sale of goods			1,471						1,465						2,772						2,761
Total revenues			62,203						79,209						126,677						161,575
Direct cost of services			(29,574)						(46,274)						(62,198)						(95,093)
Cost of goods sold			(1,717)						(1,614)						(3,234)						(2,973)
Employee compensation and benefits			(6,956)						(8,708)						(14,100)						(17,839)
Professional services			(638)						(1,636)						(1,587)						(2,601)
Occupancy-related costs			(1,947)						(2,741)						(3,972)						(5,332)
Other selling, general and administrative expenses			(5,595)						(6,468)						(11,344)						(11,699)
Restructuring charge			—						—						—						(263)
Depreciation and amortization			(4,793)						(5,925)						(9,583)						(11,882)
Segment income			10,983						5,843						20,659						13,893

Consumer Products segment:
Revenues - Sale of goods			43,284						51,424						85,387						102,946
Cost of goods sold			(33,031)						(35,984)						(64,660)						(72,864)
Employee compensation and benefits			(9,158)						(9,973)						(19,061)						(20,416)
Professional services			(800)						(2,223)						(1,975)						(4,016)
Occupancy-related costs			(1,483)						(1,594)						(2,933)						(3,178)
Other selling, general and administrative expenses			(1,228)						(1,328)						(2,403)						(3,033)
Depreciation and amortization			(1,952)						(1,931)						(3,864)						(3,928)
Restructuring charge			(36)						(20)						(36)						(546)
Impairment of goodwill and tradenames			(1,500)						(27,681)						(1,500)						(27,681)
Segment loss			(5,904)						(29,310)						(11,045)						(32,716)
E-Commerce segment:
Revenues - Services and fees			—						2,731						3,469						2,731
Revenues - Sale of goods			—						2,265						3,528						2,265
Total revenues			—						4,996						6,997						4,996
Direct cost of services			—						(1,590)						(1,552)						(1,590)
Cost of goods sold			—						(1,610)						(3,131)						(1,610)
Employee compensation and benefits			—						(2,553)						(3,153)						(2,553)
Professional services			—						(1,007)						(2,141)						(1,007)
Occupancy-related costs			—						(1,036)						(642)						(1,036)
Other selling, general and administrative expenses			—						(1,071)						(2,454)						(1,071)
Depreciation and amortization			—						(370)						(38)						(370)
Segment loss			—						(4,241)						(6,114)						(4,241)
Consolidated operating income (loss) from reportable segments			25,518						(214,550)						(12,531)						(207,782)
All Other:
Revenues - Services and fees			11,961						22,610						31,157						44,092
Revenues - Sale of goods			318						419						841						1,034
Total revenues			12,279						23,029						31,998						45,126
Direct cost of services			(3,642)						(10,815)						(12,166)						(21,666)
Cost of goods sold			(365)						(550)						(821)						(1,138)
Employee compensation and benefits			(4,073)						(5,454)						(9,320)						(11,508)
Professional services			(573)						(821)						(1,230)						(1,418)
Occupancy-related costs			(2,930)						(2,485)						(3,935)						(5,165)
Other selling, general and administrative expenses			(650)						(2,954)						(6,732)						(5,838)
Depreciation and amortization			(618)						(1,508)						(2,028)						(2,591)
Corporate:
Revenues - Services and fees			563						—						1,693						—
Employee compensation and benefits			(9,642)						(11,096)						(20,280)						(24,548)
Professional services			(7,408)						(5,286)						(18,047)						(16,572)
Occupancy-related costs			(1,708)						(1,970)						(3,335)						(3,935)
Other selling, general and administrative expenses			4,530						2,032						6,690						8,739
Depreciation and amortization			(181)						(152)						(333)						(303)
Restructuring charge			(285)						—						(285)						—

Operating income (loss)			10,815						(232,580)						(50,662)						(248,599)
Interest income			492						797						1,978						1,460
Dividend income			122						460						257						3,464
Realized and unrealized (losses) gains on investments			10,216						(155,241)						(4,284)						(190,165)
Change in fair value of financial instruments and other			11,884						—						12,806						—
Gain on sale and deconsolidation of businesses			5,372						—						86,213						314
Gain on senior note exchange			44,454						—						54,986						—
Income from equity investments			25,603						10						25,051						6
(Loss) gain on extinguishment of debt			(10,266)						120						(20,693)						120
Interest expense:
Capital Markets segment			—						(156)						(49)						(312)
Communications segment			(1,560)						(2,407)						(3,213)						(5,017)
Consumer Products segment			(443)						(1,014)						(860)						(2,445)
E-Commerce segment			—						(257)						(396)						(257)
Corporate and other			(21,949)						(29,700)						(49,398)						(61,168)
Interest expense			(23,952)						(33,534)						(53,916)						(69,199)
Income (loss) from continuing operations before income taxes			74,740						(419,968)						51,736						(502,599)
Provision for income taxes			(3,053)						(29,183)						(11)						(7,853)
Income (loss) from continuing operations			71,687						(449,151)						51,725						(510,452)
Income from discontinued operations, net of income taxes			69,312						15,370						72,707						28,717
Net income (loss)			140,999						(433,781)						124,432						(481,735)
Net income (loss) attributable to noncontrolling interests			1,528						(177)						(5,064)						1,034
Net income (loss) attributable to B. Riley Financial, Inc.			139,471						(433,604)						129,496						(482,769)
Preferred stock dividends			2,015						2,015						4,030						4,030
Net income (loss) available to common shareholders			$	137,456					$	(435,619)					$	125,466					$	(486,799)

Schedule of Revenues by Geographical Area

The following table presents revenues by geographical area:

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Services and fees
North America			$	145,772					$	202,909					$	304,611					$	416,990
Trading gains (losses), net
North America			27,680						(31,321)						11,509						(48,988)
Fair value adjustments on loans
North America			800						(175,582)						(7,296)						(187,783)
Interest income - loans
North America			3,853						18,508						7,049						40,643
Interest income - securities lending
North America			2,124						24,798						2,964						62,607
Sale of goods
North America			22,598						28,885						48,819						57,765
Australia			2,563						3,837						4,682						6,461
Europe, Middle East, and Africa			12,743						13,140						24,970						26,952
Asia			5,327						6,780						10,277						13,134
Latin America			1,842						2,931						3,780						4,694
Total - Sale of goods			45,073						55,573						92,528						109,006
Total Revenues
North America			202,827						68,197						367,656						341,234
Australia			2,563						3,837						4,682						6,461
Europe, Middle East, and Africa			12,743						13,140						24,970						26,952
Asia			5,327						6,780						10,277						13,134
Latin America			1,842						2,931						3,780						4,694
Total Revenues			$	225,302					$	94,885					$	411,365					$	392,475

Long-Lived Assets by Geographic Areas

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

			June 30, 2025						December 31, 2024
Long-lived Assets - Property and Equipment, net:
North America			$	18,196					$	18,327
Europe			148						217
Asia Pacific			58						81
Australia			50						54
Total			$	18,452					$	18,679

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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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