B. Riley Financial Inc 2025年季度报告

FORM 10-Q (Mark One)xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended June 30, 2024 Or Indicate by check mark whether the registrant: (1) has filed all reports required to be filed bySection 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for suchshorter period that the registrant was required to file such reports), and (2) has been subject to such filingrequirements for the past 90 days. Yes o No x Indicate by check mark whether the registrant has submitted electronically every Interactive DataFile required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit such files). Yeso No x Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of“large accelerated filer”, “accelerated filer,” “smaller reporting company” and “emerging growth company”in Rule 12b-2 of the Exchange Act. Large accelerated filerxNon-accelerated fileroEmerging growth companyo If an emerging growth company, indicate by check mark if the registrant has elected not to usethe extended transition period for complying with any new or revised financial accounting standardsprovided pursuant to Section 13(a) of the Exchange Act. o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of theExchange Act). Yes o No x As of January 9, 2025, there were 30,499,931 shares of the registrant’s common stock, par value$0.0001 per share, outstanding. Table of Contents B. Riley Financial, Inc.Quarterly Report on Form 10-QFor the Quarterly Period Ended June 30, 2024 Table of Contents Page PART I. FINANCIAL INFORMATION Item 1.Unaudited Condensed Consolidated Financial Statements1Unaudited Condensed Consolidated Balance Sheets as of June 30, 2024 andDecember 31, 20231Unaudited Condensed Consolidated Statements of Operations for the three and sixmonths ended June 30, 2024 and 20232Unaudited Condensed Consolidated Statements of Comprehensive (Loss) Income forthe three and six months ended June 30, 2024 and 20234Unaudited Condensed Consolidated Statements of Equity (Deficit) for the three and5 PART I. FINANCIAL INFORMATION The accompanying notes are an integral part of these unaudited condensed consolidated financialstatements.1 Table of Contents B. RILEY FINANCIAL, INC. AND SUBSIDIARIESCondensed Consolidated Statements of Operations(Unaudited)(Dollars in thousands, except share data) Table of Contents Table of Contents B. RILEY FINANCIAL, INC. AND SUBSIDIARIESCondensed Consolidated Statements of Equity (Deficit)(Unaudited)(Dollars in thousands, except share data) For the Three Months Ended June 30, 2024 and 2023 Table of Contents Six Months EndedJune 30, Table of Contents B. RILEY FINANCIAL, INC. AND SUBSIDIARIESNOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Dollars in thousands, except share data) NOTE 1 — ORGANIZATION AND NATURE OF BUSINESS OPERATIONS B. Riley Financial, Inc. and its subsidiaries (collectively, the “Company”) provide investment banking,brokerage, wealth management, asset management, direct lending, business advisory, valuation, andasset disposition services to a broad client base spanning public and private companies, financialsponsors, investors, financial institutions, legal and professional services firms, and individuals. TheCompany also has a portfolio of communication related businesses that provide consumer Internetaccess and cloud communication services and owns Tiger US Holdings Inc. (“Targus”), which designsand sells laptop and computer accessories. During the fourth quarter of 2023, management reassessed the Company's previously reportedConsumer segment due to organizational changes and financial information provided to the ChiefOperating Decision Maker (“CODM”). These changes resulted in Targus's operations being reported on astand-alone basis in the Consumer Products segment and the operations related to brand licensing that were previously reported in the Consumer segment being reported in the All Other Category that isreported with Corporate and Other. As a result of the changes, the Company has recast the financial datafor the Consumer Products segment and reporting of the All Other Category for all periods presented. The Company operates in six reportable operating segments: (i) Capital Markets, through which theCompany provides investment banking, corporate finance, securities lending, restructuring, research,sales and trading services to corporate and institutional clients; (ii) Wealth Management, through whichthe Company provides wealth management and tax services to corporate and high-net-worth clients; (iii)Auction and Liquidation, through which the Company provi