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RILYN

B. Riley Financial, Inc. - 6.50

RILYN

B. Riley Financial, Inc. - 6.50 • NASDAQ
$19.70 ▲ 2.87% (+0.55)
Market Cap $602.76 M
52w High $21.50
52w Low $7.98
Dividend Yield 1.63%
P/E 0
Volume 18.34K
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
 $0 ▲$0 ▲$50.00M ▲$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 The business has swung from solid profitability a few years ago to sizeable losses more recently. Revenue has been very volatile, with a sharp step‑down in the latest year after a strong period earlier in the decade. Profit margins have compressed significantly: operating results that were modestly positive before have turned clearly negative, and net income has been in the red for several years in a row, with the most recent loss notably larger. This pattern suggests that the firm’s model is highly sensitive to market conditions and the performance of its own investments, and that recent conditions have been unfavorable enough to overwhelm its fee and service income.

Balance Sheet

Balance Sheet The balance sheet has weakened materially. The asset base has shrunk meaningfully compared with recent years, while debt remains high. Equity has moved from positive to negative, meaning losses and write‑downs have eroded the company’s book value. In simple terms, the firm is now highly leveraged and carries less of a cushion to absorb further shocks. This increases financial risk and puts more pressure on management to stabilize earnings, manage down debt, and protect liquidity.

Cash Flow

Cash Flow Despite accounting losses, the company is still generating positive cash from its operations, and free cash flow has been modestly positive in recent years. Capital spending is very light, which helps cash flow but also reflects that this is a people‑ and capital‑driven financial business rather than a heavy user of physical assets. The gap between negative earnings and positive cash flow likely comes from non‑cash charges and working‑capital movements, which means headline cash strength should be interpreted carefully rather than seen as purely recurring, low‑risk cash generation.

Competitive Edge

Competitive Edge B. Riley’s strength is its diversified, integrated financial platform that spans capital markets, wealth management, restructuring, auctions, consulting, and brand/asset investments. This gives it multiple revenue streams that can offset each other across the cycle and makes it a one‑stop shop for complex, middle‑market situations. Its willingness to invest its own capital alongside clients and to tackle special situations, restructurings, and distressed assets further differentiates it from more traditional advisory firms. On the other hand, this same contrarian, principal‑investing approach ties performance tightly to market swings and the success of its own bets, so competitive advantages are paired with elevated risk and earnings volatility.

Innovation and R&D

Innovation and R&D Innovation here is more about business design and data use than classic lab‑style R&D. The firm has built an integrated technology and advisory platform that links wealth management, investment banking, and restructuring services, and it actively uses data and analytics to support advice and deal work. It has also developed strong sector expertise in areas like technology, media, telecom, and digital assets, positioning itself as an advisor and underwriter in fast‑moving spaces such as crypto and Web3. These capabilities are strategically important but also expose the firm to rapidly changing technologies, evolving regulation, and reputational risk if high‑profile, speculative areas underperform.

Summary

Overall, B. Riley combines a distinctive, diversified financial platform with a much weaker recent financial profile. The business model—spanning advisory, capital markets, asset disposition, and principal investing—creates meaningful opportunity, especially in complex or distressed situations and in niche growth sectors. However, recent years show that this strategy can produce large swings in results: profitability has deteriorated, leverage has increased, and book equity has turned negative. The company’s future trajectory will depend heavily on how effectively it can navigate market cycles, realize value from its investments, and execute on deleveraging and simplification efforts, all while preserving the strengths of its integrated platform.