Business
B. Riley Financial Reports Second Quarter 2025 Financial Results
Second Quarter 2025 Net Income of $137.5 Million in Line with Previous Estimate of $120 Million to $140 MillionSecond Quarter 2025 Form 10-Q Filed Prior to
About this update from Brc Group Holdings, Inc.
[{"type":"text","content":"Second Quarter 2025 Net Income of $137.5 Million in Line with Previous Estimate of $120 Million to $140 MillionSecond Quarter 2025 Form 10-Q Filed Prior to Nasdaq's December 23, 2025 DeadlineLOS ANGELES, Dec. 15, 2025 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ: RILY) (\"BRF\" or the \"Company\"), a diversified holding company, today announced the filing of its Quarterly Report on Form 10-Q for the three-month period ended June 30, 2025.\nBryant Riley, Chairman and Co-Chief Executive Officer of BRF, commented: \"As previously shared on our August 13th earnings call, we are pleased with the second quarter results as filed, which are in line with filed estimates.\"The significant changes we made to our financial operations practices were critical in enabling the team to successfully file the second quarter Form 10-Q ahead of Nasdaq's listing compliance deadline. These important changes, coupled with the team's commitment and perseverance, achieved our objectives. \"We are well positioned to file the third quarter Form 10-Q by the January 20, 2026 deadline established by Nasdaq, which will bring our financial reporting current.\"Second Quarter 2025 Financial Highlights Net income was $137.5 million, which includes gains of $66.8 million on sale of GlassRatner, and gains of $44.5 million on senior note exchanges, compared to a net loss of $(435.6) million in the second quarter 2024.Income from continuing operations was $71.7 million, which includes gains of $44.5 million on senior note exchanges, compared to a loss from continuing operations of $(449.2) million in the second quarter 2024.Income from discontinued operations was $69.3 million, which includes gains of $66.8 million on sale of GlassRatner, compared to $15.4 million in the second quarter 2024.Revenues were $225.3 million, compared to $94.9 million in the second quarter 2024 due to a $(175.6) million loss on fair value adjustments on loans in that same period.Operating adjusted EBITDA(1) from continuing operations was $38.5 million, compared to $31.2 million in the second quarter 2024.Total debt was $1.46 billion, with net debt(2) of $824.8 million, compared to $1.77 billion and $1.06 billion, respectively, as of December 31, 2024. The $314 million reduction of total debt was due to a decrease in senior notes payable of $207 million and term loans and notes payable o...