XML 18 R2.htm IDEA: XBRL DOCUMENT v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets:    
Cash and cash equivalents [1] $ 154,112 $ 226,601
Restricted cash 1,530 2,676
Due from clearing brokers 31,706 51,000
Securities and other investments owned ($660,185 and $382,461 at fair value) [1] 723,715 446,843
Securities borrowed 206,717 114,937
Accounts receivable, net of allowance for credit losses of $6,209 and $6,108 61,382 55,473
Loans receivable, at fair value ($1,035 and $2,835 from related parties) 38,802 26,303
Equity investments 84,817 90,433
Prepaid expenses and other assets [1] 110,862 128,650
Operating lease right-of-use assets 38,476 32,109
Property and equipment, net 17,850 17,606
Goodwill 392,687 392,687
Other intangible assets, net 101,867 118,290
Deferred income taxes 794 763
Total assets 1,967,538 1,706,592
Liabilities:    
Accounts payable 35,475 41,463
Accrued expenses and other liabilities ($797 and $6,400 at fair value) [1] 156,333 154,780
Deferred revenue 46,985 49,907
Deferred income taxes 4,642 4,109
Securities sold not yet purchased, at fair value 9,487 9,809
Securities loaned 189,192 97,321
Operating lease liabilities 46,307 40,902
Revolving credit facilities 31,316 6,638
Term loans, net 115,770 119,297
Senior notes payable, net 1,129,966 1,301,798
Total liabilities 1,766,303 1,826,854
Commitments and contingencies (Note 26)
BRC Group Holdings, Inc. stockholders’ equity (deficit):    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 4,563 shares issued and outstanding and liquidation preference of $126,172 and $122,142 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 40,199,755 and 30,597,066 issued and outstanding 4 3
Additional paid-in capital 680,097 598,022
Accumulated deficit (529,464) (763,286)
Accumulated other comprehensive loss (8,468) (6,272)
Total BRC Group Holdings, Inc. stockholders’ equity (deficit) 142,169 (171,533)
Noncontrolling interest [1] 59,066 51,271
Total equity (deficit) 201,235 (120,262)
Total liabilities and equity (deficit) 1,967,538 1,706,592
Discontinued Operations, Disposed of by Sale    
Assets:    
Assets of discontinued operations (Note 4) 2,221 2,221
Liabilities:    
Liabilities of discontinued operations (Note 4) $ 830 $ 830
[1]
(1) At June 30, 2026 and December 31, 2025 the balance sheet includes cash of $183 and $446, securities and other investments owned, at fair value of $713 and $682, prepaid and other expenses of $3,678 and $3,737, accrued expenses and other liabilities of $28 and $28, and noncontrolling interest of $3,939 and $4,192, respectively, of consolidated variable interest entities (see Note 3 - Variable Interest Entities).