XML 50 R34.htm IDEA: XBRL DOCUMENT v3.26.1
BUSINESS SEGMENTS
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
The following is a summary of certain financial data for each of the Company’s reportable segments:
Three Months Ended June 30, 2026Capital MarketsWealth ManagementLingomagicJackMarconi WirelessUOLConsumer ProductsTotal Reportable Segments
Corporate & All Other(1)
Total
Revenues - Services and fees(2)
$45,939 $48,702 $38,788 $8,281 $6,878 $2,881 $— $151,469 $22,126 $173,595 
Trading gains (losses), net4,363 9,251 — — — — — 13,614 (740)12,874 
Fair value adjustment on loans751 — — — — — — 751 3,494 4,245 
Interest income - loans1,027 — — — — — — 1,027 1,144 2,171 
Interest income - securities lending1,632 — — — — — — 1,632 — 1,632 
Revenues - Sale of goods— — — 286 490 — 43,537 44,313 287 44,600 
Total revenues53,712 57,953 38,788 8,567 7,368 2,881 43,537 212,806 26,311 239,117 
Direct cost of services— — (21,306)(1,698)(2,211)(884)— (26,099)(3,265)(29,364)
Cost of goods sold— — — (274)(497)— (30,282)(31,053)(308)(31,361)
Employee compensation and benefits(28,182)(33,266)(4,016)(642)(311)(201)(9,604)(76,222)(12,365)(88,587)
Professional services(366)(255)(28)(297)(74)(30)(1,244)(2,294)(9,653)(11,947)
Occupancy-related costs(1,593)(1,946)(549)(345)(444)(158)(1,214)(6,249)(3,032)(9,281)
Depreciation and amortization(197)(384)(3,213)(846)(469)(21)(1,701)(6,831)(717)(7,548)
Other selling, general and administrative expenses(3)
(7,593)(4,555)(4,357)(292)(365)(98)(1,056)(18,316)2,302 (16,014)
Restructuring charge(1,757)(29)— — — — (128)(1,914)— (1,914)
Impairment of tradename— — — — — — (4,000)(4,000)— (4,000)
Interest expense - Securities lending and loan participations sold(906)— — — — — — (906)— (906)
Segment income (loss)$13,118 $17,518 $5,319 $4,173 $2,997 $1,489 $(5,692)$38,922 $(727)$38,195 
(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.
(2)
Revenues - Services and fees for the Corporate and All Other category includes intersegment eliminations.
(3)
Other selling, general and administrative expenses for the Corporate and All Other category includes intersegment eliminations and corporate expense allocations to segments.
Three Months Ended June 30, 2025Capital MarketsWealth ManagementLingomagicJackMarconi WirelessUOLConsumer ProductsTotal Reportable Segments
Corporate & All Other(1)
Total
Revenues - Services and fees(2)
$37,919 $33,421 $39,907 $9,473 $8,065 $3,287 $— $132,072 $13,700 $145,772 
Trading gains, net21,249 5,200 — — — — — 26,449 1,231 27,680 
Fair value adjustment on loans— — — — — — — — 800 800 
Interest income - loans— — — — — — — — 3,853 3,853 
Interest income - securities lending2,124 — — — — — — 2,124 — 2,124 
Revenues - Sale of goods— — — 304 1,167 — 43,284 44,755 318 45,073 
Total revenues61,292 38,621 39,907 9,777 9,232 3,287 43,284 205,400 19,902 225,302 
Direct cost of services— — (22,957)(1,868)(3,738)(1,011)— (29,574)(3,642)(33,216)
Cost of goods sold— — — (316)(1,401)— (33,031)(34,748)(365)(35,113)
Employee compensation and benefits(29,259)(29,499)(4,884)(762)(748)(358)(9,158)(74,668)(14,474)(89,142)
Professional services(923)(582)(149)(313)(93)(28)(800)(2,888)(8,766)(11,654)
Occupancy-related costs(1,636)(4,513)(757)(385)(621)(182)(1,483)(9,577)(4,701)(14,278)
Depreciation and amortization(680)(411)(3,329)(878)(483)(64)(1,952)(7,797)(848)(8,645)
Other selling, general and administrative expenses(3)
(9,919)(4,935)(4,904)(165)(343)(94)(1,228)(21,588)2,938 (18,650)
Restructuring charge— — — — — — (36)(36)(285)(321)
Impairment of tradename— — — — — — (1,500)(1,500)— (1,500)
Interest expense - Securities lending and loan participations sold(1,655)— — — — — — (1,655)(313)(1,968)
Segment income (loss)$17,220 $(1,319)$2,927 $5,090 $1,805 $1,550 $(5,904)$21,369 $(10,554)$10,815 
(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.
(2)
 Revenues - Services and fees for the Corporate and All Other category includes intersegment eliminations.
(3)
Other selling, general and administrative expenses for the Corporate and All Other category includes intersegment eliminations and corporate expense allocations to segments.
Six Months Ended June 30, 2026Capital MarketsWealth ManagementLingomagicJackMarconi WirelessUOLConsumer ProductsTotal Reportable Segments
Corporate & All Other(1)
Total
Revenues - Services and fees(2)
$81,489 $90,781 $79,578 $16,754 $13,904 $5,702 $— $288,208 $37,509 $325,717 
Trading gains (losses), net139,666 19,347 — — — — — 159,013 (1,078)157,935 
Fair value adjustment on loans751 — — — — — — 751 10,039 10,790 
Interest income - loans1,034 — — — — — — 1,034 2,851 3,885 
Interest income - securities lending2,883 — — — — — — 2,883 — 2,883 
Revenues - Sale of goods— — — 596 1,001 — 87,652 89,249 718 89,967 
Total revenues225,823 110,128 79,578 17,350 14,905 5,702 87,652 541,138 50,039 591,177 
Direct cost of services— — (44,969)(3,405)(4,428)(1,779)— (54,581)(6,485)(61,066)
Cost of goods sold— — — (556)(1,026)— (61,460)(63,042)(684)(63,726)
Employee compensation and benefits(54,373)(64,453)(8,591)(1,367)(679)(331)(18,911)(148,705)(27,049)(175,754)
Professional services(896)(511)(55)(626)(151)(72)(2,895)(5,206)(23,217)(28,423)
Occupancy-related costs(3,231)(4,117)(1,243)(697)(931)(309)(2,761)(13,289)(6,475)(19,764)
Depreciation and amortization(474)(769)(6,431)(1,693)(939)(44)(3,357)(13,707)(1,430)(15,137)
Other selling, general and administrative expenses(3)
(13,116)(6,747)(9,206)(582)(677)(205)(2,473)(33,006)4,359 (28,647)
Restructuring charge(1,757)(29)— — — — (128)(1,914)— (1,914)
Impairment of tradename— — — — — — (4,000)(4,000)— (4,000)
Interest expense - Securities lending and loan participations sold(1,623)— — — — — — (1,623)— (1,623)
Segment income (loss)$150,353 $33,502 $9,083 $8,424 $6,074 $2,962 $(8,333)$202,065 $(10,942)$191,123 
(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.
(2)
Revenues - Services and fees for the Corporate and All Other category includes intersegment eliminations.
(3)
Other selling, general and administrative expenses for the Corporate and All Other category includes intersegment eliminations and corporate expense allocations to segments.
Six Months Ended June 30, 2025Capital MarketsWealth ManagementLingomagicJackMarconi WirelessUOLConsumer ProductsTotal Reportable Segments
Corporate & All Other(1)
Total
Revenues - Services and fees(2)
$59,511 $80,087 $81,460 $18,919 $16,606 $6,920 $— $263,503 $41,108 $304,611 
Trading gains, net3,983 5,812 — — — — — 9,795 1,714 11,509 
Fair value adjustment on loans(3,131)— — — — — — (3,131)(4,165)(7,296)
Interest income - loans65 — — — — — — 65 6,984 7,049 
Interest income - securities lending2,964 — — — — — — 2,964 — 2,964 
Revenues - Sale of goods— — — 659 2,113 — 85,387 88,159 4,369 92,528 
Total revenues63,392 85,899 81,460 19,578 18,719 6,920 85,387 361,355 50,010 411,365 
Direct cost of services— — (48,121)(3,858)(8,034)(2,185)— (62,198)(13,718)(75,916)
Cost of goods sold— — — (650)(2,584)— (64,660)(67,894)(3,952)(71,846)
Employee compensation and benefits(50,963)(63,169)(9,656)(1,506)(1,502)(603)(19,061)(146,460)(34,665)(181,125)
Professional services(1,491)(991)(343)(794)(178)(40)(1,975)(5,812)(24,066)(29,878)
Occupancy-related costs(3,675)(7,995)(1,615)(756)(1,246)(353)(2,933)(18,573)(8,029)(26,602)
Depreciation and amortization(1,361)(1,417)(6,646)(1,758)(966)(136)(3,864)(16,148)(2,498)(18,646)
Other selling, general and administrative expenses(3)
(22,276)(11,922)(9,753)(550)(660)(199)(2,403)(47,763)(5,743)(53,506)
Restructuring charge— — — — — — (36)(36)(285)(321)
Impairment of tradename— — — — — — (1,500)(1,500)— (1,500)
Interest expense - Securities lending and loan participations sold(2,149)— — — — — — (2,149)(538)(2,687)
Segment (loss) income$(18,523)$405 $5,326 $9,706 $3,549 $3,404 $(11,045)$(7,178)$(43,484)$(50,662)
(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.
(2)
Revenues - Services and fees for the Corporate and All Other category includes intersegment eliminations.
(3)
Other selling, general and administrative expenses for the Corporate and All Other category includes intersegment eliminations and corporate expense allocations to segments.
Reconciliation of Segment Income (Loss) to Net Income:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Segment income (loss)$38,195 10,815 $191,123 $(50,662)
Interest income339 492 697 1,978 
Dividend income133 122 802 257 
Realized and unrealized gains (losses) on investments12,092 10,216 117,192 (4,284)
Change in fair value of financial instruments and other1,546 11,884 (2,881)12,806 
Gain on sale and deconsolidation of businesses— 5,372 — 86,213 
Gain on senior note exchange— 44,454 — 54,986 
(Loss) income from equity investments(5,459)25,603 (4,133)25,051 
(Loss) gain on extinguishment of debt(1,283)(10,266)1,607 (20,693)
Interest expense:
Capital Markets segment— — — (30)
Lingo segment— — — (66)
Consumer Products segment(354)(443)(733)(860)
Corporate and All Other(17,662)(23,509)(37,077)(52,960)
Interest expense(18,016)(23,952)(37,810)(53,916)
Income from continuing operations before income taxes27,547 74,740 266,597 51,736 
Provision for income taxes(5,950)(3,053)(22,841)(11)
Income from continuing operations21,597 71,687 243,756 51,725 
Income from discontinued operations, net of income taxes— 69,312 — 72,707 
Net income21,597 140,999 243,756 124,432 
Net income (loss) attributable to noncontrolling interests1,048 1,528 9,934 (5,064)
Net income attributable to BRC Group Holdings, Inc.20,549 139,471 233,822 129,496 
Preferred stock dividends2,015 2,015 4,030 4,030 
Net income available to common shareholders$18,534 $137,456 $229,792 $125,466 
The following table presents revenues by geographical area:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Revenues
Services and fees
North America$173,595 $145,772 $325,717 $304,611 
Trading gains, net
North America12,874 27,680 157,935 11,509 
Fair value adjustments on loans
North America4,245 800 10,790 (7,296)
Interest income - loans
North America2,171 3,853 3,885 7,049 
Interest income - securities lending
North America1,632 2,124 2,883 2,964 
Sale of goods
North America23,609 22,598 46,147 48,819 
Australia1,973 2,563 4,111 4,682 
Europe, Middle East, and Africa11,095 12,743 23,874 24,970 
Asia5,989 5,327 11,688 10,277 
Latin America1,934 1,842 4,147 3,780 
Total - Sale of goods44,600 45,073 $89,967 $92,528 
Total Revenues
North America218,126 202,827 $547,357 $367,656 
Australia1,973 2,563 4,111 4,682 
Europe, Middle East, and Africa11,095 12,743 23,874 24,970 
Asia5,989 5,327 11,688 10,277 
Latin America1,934 1,842 4,147 3,780 
Total Revenues$239,117 $225,302 $591,177 $411,365 
The following table presents long-lived assets, which consists of property and equipment, net, by geographical area:
June 30, 2026December 31, 2025
Long-lived Assets - Property and Equipment, net:
North America$17,766 $17,450 
Europe30 88 
Asia Pacific46 62 
Australia8 6 
Total$17,850 $17,606 
Segment assets are not reported to, or used by, the Company’s CODM to allocate resources to, or assess performance of the segments and therefore, total segment assets have not been disclosed.