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RILY

B. Riley Financial, Inc.

RILY

B. Riley Financial, Inc. • NASDAQ
$4.34 ▼ -1.14% (-0.05)
Market Cap $132.79 M
52w High $7.90
52w Low $2.67
Dividend Yield 0.50%
P/E -0.15
Volume 244.04K
Outstanding Shares 30.60M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $109.119M ▲ $15.434M ▼ $41.766M ▲ 38.276% ▲ $1.37 ▲ $55.041M ▲
Q2-2025 $60.911M ▼ $42.317M ▼ $12.521M ▲ 20.556% ▲ $0.41 ▲ $16.939M ▲
Q4-2024 $267.613M ▼ $326.927M ▲ $2.892M ▲ 1.081% ▲ $0.029 ▲ $-208.747M ▼
Q3-2024 $270.782M ▼ $256.198M ▼ $-284.397M ▲ -105.028% ▲ $-9.39 ▲ $-90.157M ▲
Q2-2024 $323.947M $412.621M $-433.604M -133.85% $-14.35 $-354.287M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $55.039M ▼ $382.109M ▼ $125.658M ▼ $0 ▲
Q4-2024 $154.877M ▼ $1.783B ▼ $2.239B ▼ $-488.175M ▲
Q3-2024 $159.247M ▼ $2.157B ▼ $2.583B ▼ $-497.583M ▼
Q2-2024 $236.895M ▲ $3.236B ▼ $3.379B ▼ $-218.336M ▼
Q1-2024 $190.69M $4.998B $4.698B $228.449M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2025 $-16.567M ▼ $184K ▲ $49.216M ▼ $0 ▲ $0 ▼ $184K ▲
Q4-2024 $-5.606M ▲ $-2.743M ▼ $415.005M ▲ $-317.225M ▼ $86.828M ▲ $-3.97M ▼
Q3-2024 $-287.598M ▲ $19.455M ▼ $18.825M ▲ $-111.196M ▼ $-68.775M ▼ $18.171M ▼
Q2-2024 $-433.781M ▼ $111.482M ▼ $-11.574M ▼ $-52.593M ▲ $46.044M ▲ $106.954M ▼
Q1-2024 $-49.165M $135.357M $18.278M $-190.933M $-41.26M $134.444M

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q1-2025
Advertising Licensing And Other
Advertising Licensing And Other
 $30.00M ▲$0 ▼$20.00M ▲$20.00M ▲
Commissions Fees And Reimbursed Expenses
Commissions Fees And Reimbursed Expenses
 $30.00M ▲$10.00M ▼$0 ▼$10.00M ▲
Corporate Finance Consulting And Investment Banking Fees
Corporate Finance Consulting And Investment Banking Fees
 $60.00M ▲$50.00M ▼$60.00M ▲$20.00M ▼
Fair Value Adjustment On Loans
Fair Value Adjustment On Loans
 $-180.00M ▲$-70.00M ▲$0 ▲$-10.00M ▼
Interest Income Securities lending
Interest Income Securities lending
 $20.00M ▲$10.00M ▼$40.00M ▲$0 ▼
Interest Income Loans
Interest Income Loans
 $20.00M ▲$10.00M ▼$0 ▼$0 ▲
Other Segments
Other Segments
 $0 ▲$0 ▲$10.00M ▲$10.00M ▲
Sale Of Goods
Sale Of Goods
 $60.00M ▲$60.00M ▲$50.00M ▼$50.00M ▲
Subscription Services
Subscription Services
 $80.00M ▲$70.00M ▼$60.00M ▼$60.00M ▲
Trading Loss Income
Trading Loss Income
 $0 ▲$0 ▲$0 ▲$-20.00M ▼
Wealth And Asset Management Fees
Wealth And Asset Management Fees
 $50.00M ▲$50.00M ▲$40.00M ▼$40.00M ▲
Advertising And Other
Advertising And Other
 $0 ▲$30.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement B. Riley’s income statement shows a business that can be very strong in good markets but has swung into deep losses more recently. After a period of solid profitability around 2020–2021, revenue has fallen sharply and margins have compressed. Operating results have moved from comfortably profitable to meaningfully negative, and reported net losses have widened each of the last few years. This pattern suggests a high dependence on deal activity, investment results, and market cycles, with earnings that are both volatile and currently under clear pressure.

Balance Sheet

Balance Sheet The balance sheet has weakened and now looks stretched. Total assets have come down from prior peaks, while debt has stayed high, leaving the company heavily leveraged. Equity has flipped from positive to negative, which is a sign that past losses and/or write‑downs have eroded the capital base. Cash on hand is modest relative to total obligations, so the company appears more financially fragile than it was a few years ago and more exposed if conditions stay difficult.

Cash Flow

Cash Flow Despite accounting losses, recent cash flow from operations has stayed slightly positive, but only by a thin margin. Free cash flow has generally hovered around breakeven, which means the core business is not burning large amounts of cash, but also is not generating a big cushion. Capital spending needs are low, which helps, yet the combination of high debt and modest cash generation leaves limited room for error. Sustained improvement in operating cash flow would be important to ease balance sheet concerns over time.

Competitive Edge

Competitive Edge B. Riley holds a differentiated spot in financial services by mixing investment banking, brokerage, consulting, asset disposition, and principal investing on one integrated platform. Its focus on middle‑market clients, especially those in complex or distressed situations, gives it a niche less dominated by the largest Wall Street firms. The ability to provide both advice and capital, plus strong capabilities in areas like retail liquidations and special situations, adds to its appeal. However, this opportunistic and contrarian strategy also exposes the firm to lumpier results, higher risk investments, and sensitivity to downturns in deal activity and credit conditions.

Innovation and R&D

Innovation and R&D The company is not a classic fintech player, but it does lean on innovation in how it combines services and uses data, rather than on flashy proprietary technology. It has been building more digital tools, analytics, and platforms to support advisors and clients, especially in sectors like technology, media, telecom, and digital assets. Its willingness to invest directly in brands and special situations is also a form of business model innovation, blending advisory work with ownership stakes. Future growth may come less from pure R&D and more from creative deal structures, new financial products, and selective acquisitions that expand its capabilities in digital and high‑growth areas.

Summary

Overall, B. Riley looks like a high‑beta financial platform: creatively built, diversified, and differentiated, but currently under real financial strain. Earnings have swung from strong profits to sizable losses, and the balance sheet now carries heavy leverage and negative equity, which heighten risk if markets remain challenging. On the positive side, the business model, client niche, and integrated capabilities provide a clear strategic identity and potential for recovery if activity rebounds and investments perform. The key uncertainties center on the company’s ability to stabilize profitability, rebuild capital strength, and manage through the downside of its opportunistic, principal‑investment‑heavy strategy.

NEWS

November 28, 2025 · 1:05 PM UTC

B. Riley Receives Expected Nasdaq Delinquency Notification; Anticipates Meeting New Filing Deadlines

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November 18, 2025 · 4:15 PM UTC

B. Riley Financial Reports First Quarter 2025 Results

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November 11, 2025 · 4:01 PM UTC

B. Riley Financial Announces Corporate Name Change to BRC Group Holdings, Inc.

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October 6, 2025 · 5:00 PM UTC

B. Riley Financial Receives Nasdaq Staff Determination Letter; Will Seek Hearing & Continued Listing

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