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B. Riley Financial Files 2022 Annual Report on Form 10-K
LOS ANGELES, March 16, 2023 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) ("B. Riley" or the "Company"), a diversified financial services platform,
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"LOS ANGELES, March 16, 2023 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"B. Riley\" or the \"Company\"), a diversified financial services platform, today announced the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2022.\n\n \n \n \n \n \n \n\n \nCertain previously issued financial statements have been restated to correct the classification of dividends received and realized and unrealized gains (losses) on certain investments held by non-regulated entities from within \"Revenue\" to \"Other Income\" in the Company's consolidated statement of operations.\nThis reclassification had no impact on previously issued consolidated balance sheets, net income, earnings per share (EPS), adjusted EBITDA, or operating adjusted EBITDA.\nAdditional information related to operating and investment metrics can be found in the revised Fourth Quarter 2022 Financial Supplement which is available on the Company's investor relations website. Information about the Company's use of non-GAAP financial measures is provided under \"Use of Non-GAAP Financial Measures.\"\nThese results have been recast in the corresponding tables for the periods presented.\nYear Ended \nYear Ended \nYear Ended \nDecember 31, 2022\nDecember 31, 2021\nDecember 31, 2020\n(Dollars in thousands)\nAs Previously Reported\n Adjustments\nAs Revised\nAs Previously Reported\n Adjustments\nAs Restated\nAs Previously Reported\n Adjustments\nAs Restated\nTotal Revenues\n$\n915,465\n$\n165,205\n$\n1,080,670\n$\n1,740,561\n$\n(185,863)\n$\n1,554,698\n$\n902,721\n$\n(68,504)\n$\n834,217\nTotal Operating Expenses\n(1,011,222)\n—\n(1,011,222)\n(1,040,170)\n—\n(1,040,170)\n(557,956)\n—\n(557,956)\nOther (Expenses) Income\n(124,693)\n(165,205)\n(289,898)\n(85,629)\n185,863\n100,234\n(65,308)\n68,504\n3,196\n(Loss) Income Before Income Taxes\n(220,450)\n—\n(220,450)\n614,762\n—\n614,762\n279,457\n—\n279,457\nNet (Loss) Income Available to Common Shareholders\n$\n(167,837)\n$\n—\n$\n(167,837)\n$\n437,597\n$\n—\n$\n437,597\n$\n200,438\n$\n—\n$\n200,438\nDiluted (Loss) Income per Common Share\n$\n(5.95)\n$\n—\n$\n(5.95)\n$\n15.09\n$\n—\n$\n15.09\n$\n7.56\n$\n—\n$\n7.56\nYear Ended \nYear Ended \nYear Ended \nDecember 31, 2022\nDecember 31, 2021\nDecember 31, 2020\n(Dollars in thousands)\nAs Previously Reported\n Adjustments\nAs Revised\nAs Previously R...