XML 72 R57.htm IDEA: XBRL DOCUMENT v3.26.1

BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2026

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, 2026						Capital Markets						Wealth Management						Lingo						magicJack						Marconi Wireless						UOL						Consumer Products						Total Reportable Segments						Corporate & All Other(1)						Total
Revenues - Services and fees						$	35,550					$	42,079					$	40,790					$	8,473					$	7,026					$	2,821					$	—					$	136,739					$	15,383					$	152,122
Trading gains (losses), net						135,303						10,096						—						—						—						—						—						145,399						(338)						145,061
Fair value adjustment on loans						—						—						—						—						—						—						—						—						6,545						6,545
Interest income - loans						7						—						—						—						—						—						—						7						1,707						1,714
Interest income - securities lending						1,251						—						—						—						—						—						—						1,251						—						1,251
Revenues - Sale of goods						—						—						—						310						511						—						44,115						44,936						431						45,367
Total revenues						172,111						52,175						40,790						8,783						7,537						2,821						44,115						328,332						23,728						352,060
Direct cost of services						—						—						(23,663)						(1,707)						(2,217)						(895)						—						(28,482)						(3,220)						(31,702)
Cost of goods sold						—						—						—						(282)						(529)						—						(31,178)						(31,989)						(376)						(32,365)
Employee compensation and benefits						(26,191)						(31,187)						(4,575)						(725)						(368)						(130)						(9,307)						(72,483)						(14,684)						(87,167)
Professional services						(530)						(256)						(27)						(329)						(77)						(42)						(1,651)						(2,912)						(13,564)						(16,476)
Occupancy-related costs						(1,638)						(2,171)						(694)						(352)						(487)						(151)						(1,547)						(7,040)						(3,443)						(10,483)
Depreciation and amortization						(277)						(385)						(3,218)						(847)						(470)						(23)						(1,656)						(6,876)						(713)						(7,589)
Other selling, general and administrative expenses						(5,523)						(2,192)						(4,849)						(290)						(312)						(107)						(1,417)						(14,690)						2,057						(12,633)
Interest expense - Securities lending and loan participations sold						(717)						—						—						—						—						—						—						(717)						—						(717)
Segment income (loss)						$	137,235					$	15,984					$	3,764					$	4,251					$	3,077					$	1,473					$	(2,641)					$	163,143					$	(10,215)					$	152,928

(1) Corporate and All Other consists of general corporate administrative functions not allocable to reportable segments and operating segments and entities that individually, or in aggregate, do not meet the criteria of a separate reportable segment including bebe, and individual investment and lending entities.

Three Months Ended March 31, 2025						Capital Markets						Wealth Management						Lingo						magicJack						Marconi Wireless						UOL						Consumer Products						Total Reportable Segments																					Corporate & All Other(1)						Total
Revenues - Services and fees						$	21,592					$	46,666					$	41,553					$	9,446					$	8,541					$	3,633					$	—					$	131,431																				$	27,408					$	158,839
Trading (losses) gains, net						(17,266)						612						—						—						—						—						—						(16,654)																					483						(16,171)
Fair value adjustment on loans						(3,131)						—						—						—						—						—						—						(3,131)																					(4,965)						(8,096)
Interest income - loans						65						—						—						—						—						—						—						65																					3,131						3,196
Interest income - securities lending						840						—						—						—						—						—						—						840																					—						840
Revenues - Sale of goods						—						—						—						355						946						—						42,103						43,404																					4,051						47,455
Total revenues						2,100						47,278						41,553						9,801						9,487						3,633						42,103						155,955																					30,108						186,063
Direct cost of services						—						—						(25,164)						(1,990)						(4,296)						(1,174)						—						(32,624)																					(10,076)						(42,700)
Cost of goods sold						—						—						—						(334)						(1,183)						—						(31,629)						(33,146)																					(3,587)						(36,733)
Employee compensation and benefits						(21,704)						(33,670)						(4,772)						(744)						(754)						(245)						(9,903)						(71,792)																					(20,191)						(91,983)
Professional services						(568)						(409)						(194)						(481)						(85)						(12)						(1,175)						(2,924)																					(15,300)						(18,224)
Occupancy-related costs						(2,039)						(3,482)						(858)						(371)						(625)						(171)						(1,450)						(8,996)																					(3,328)						(12,324)
Depreciation and amortization						(681)						(1,006)						(3,317)						(880)						(483)						(72)						(1,912)						(8,351)																					(1,650)						(10,001)
Other selling, general and administrative expenses						(12,357)						(6,987)						(4,849)						(385)						(317)						(105)						(1,175)						(26,175)																					(8,681)						(34,856)
Interest expense - Securities lending and loan participations sold						(494)						—						—						—						—						—						—						(494)																					(225)						(719)
Segment (loss) income						$	(35,743)					$	1,724					$	2,399					$	4,616					$	1,744					$	1,854					$	(5,141)					$	(28,547)																				$	(32,930)					$	(61,477)

(1) Corporate and All Other consists of general corporate administrative functions not allocable to reportable segments and operating segments and entities that individually, or in aggregate, do not meet the criteria of a separate reportable segment including bebe, Nogin (deconsolidated in March 2025), Atlantic Coast Recycling (sold in March 2025), and individual investment and lending entities.

Schedule of Reconciliation of f Segment Income (Loss) to Net Income (Loss)

Reconciliation of Segment Income (Loss) to Net Income (Loss):

			Three Months Ended March 31,
			2026						2025
Segment income (loss)			$	152,928					$	(61,477)
Interest income			358						1,486
Dividend income			669						135
Realized and unrealized gains (losses) on investments			105,100						(14,500)
Change in fair value of financial instruments and other			(4,427)						922
Gain on sale and deconsolidation of businesses			—						80,841
Gain on senior note exchange			—						10,532
Income (loss) from equity investments			1,326						(552)
Gain (loss) on extinguishment of debt			2,890						(10,427)
Interest expense:
Capital Markets segment			—						(30)
Lingo segment			—						(66)
Consumer Products segment			(379)						(417)
Corporate and All Other			(19,415)						(29,451)
Interest expense			(19,794)						(29,964)
Income (loss) from continuing operations before income taxes			239,050						(23,004)
(Provision for) benefit from income taxes			(16,891)						3,042
Income (loss) from continuing operations			222,159						(19,962)
Income from discontinued operations, net of income taxes			—						3,395
Net income (loss)			222,159						(16,567)
Net income (loss) attributable to noncontrolling interests			8,886						(6,592)
Net income (loss) attributable to BRC Group Holdings, Inc.			213,273						(9,975)
Preferred stock dividends			2,015						2,015
Net income (loss) available to common shareholders			$	211,258					$	(11,990)

Schedule of Revenues by Geographical Area

The following table presents revenues by geographical area:

			Three Months Ended March 31,
			2026						2025
Revenues
Services and fees
North America			$	152,122					$	158,839
Trading gains (losses), net
North America			145,061						(16,171)
Fair value adjustments on loans
North America			6,545						(8,096)
Interest income - loans
North America			1,714						3,196
Interest income - securities lending
North America			1,251						840
Sale of goods
North America			22,538						26,221
Australia			2,138						2,119
Europe, Middle East, and Africa			12,779						12,227
Asia			5,699						4,950
Latin America			2,213						1,938
Total - Sale of goods			45,367						47,455
Total Revenues
North America			329,231						164,829
Australia			2,138						2,119
Europe, Middle East, and Africa			12,779						12,227
Asia			5,699						4,950
Latin America			2,213						1,938
Total Revenues			$	352,060					$	186,063

Schedule of 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, 2026						December 31, 2025
Long-lived Assets - Property and Equipment, net:
North America			$	17,488					$	17,450
Europe			59						88
Asia Pacific			54						62
Australia			7						6
Total			$	17,608					$	17,606

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ Details

Name:	us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration