B. Riley Financial, Inc
(NASDAQ:RILY)

B. Riley Financial, Inc., through its subsidiaries, provides collaborative financial services and solutions in North America, Australia, and Europe. The Capital Markets segments offers range of investment banking, corporate finance, consulting, financial advisory, research, securities lending, wealt...

Website: http://www.brileyfin.com

Founded: 1997

Full Time Employees: 982

Sector: Financial Services

Industry: Financial Conglomerates

Financial Services

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

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Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2011-12-31	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30

revenues:
services and fees	152,122,000	158,557,000	170,668,000	145,772,000	158,839,000	214,534,000	198,514,000	248,025,000	257,303,000	258,461,000	278,023,000	230,327,000	235,559,000	217,558,000	266,485,000	200,905,000	210,675,000	315,848,000	301,497,000	266,143,000	289,469,000	237,270,000	144,823,000	125,595,000	159,381,000	138,251,000	153,379,000	154,859,000	131,853,000	92,569,000	90,655,000	118,882,000	88,187,000	102,487,000	85,141,000	64,395,000	52,818,000	73,730,000	50,300,000	20,261,000	19,944,000	19,753,000	21,150,000	39,442,000	21,584,000	19,256,000	20,669,000	14,947,000	12,385,000	17,746,000	11,361,000	12,223,000	18,637,000	10,956,000		13,003,000	10,618,000	13,499,000	2,279,000	10,630,000	10,043,000	10,980,000
trading gains	145,061,000	61,009,000	53,012,000	27,680,000	-16,171,000
fair value adjustments on loans	6,545,000	5,549,000	1,299,000	800,000	-8,096,000	-66,238,000	-71,477,000	-175,582,000
interest income - loans	1,714,000	1,431,000	2,094,000	3,853,000	3,196,000	2,247,000	11,251,000	18,508,000
interest income - securities lending	1,251,000	1,506,000	2,523,000	2,124,000	840,000	1,248,000	7,007,000	24,798,000																				7,665,000	9,330,000	8,962,000	8,954,000	6,591,000	7,553,000	7,604,000	7,206,000	2,218,000
sale of goods	45,367,000	50,311,000	48,275,000	45,073,000	47,455,000	56,365,000	55,248,000	63,937,000	55,653,000	63,196,000	125,146,000	58,387,000	67,777,000	134,380,000	4,130,000	1,887,000	1,878,000	3,961,000	34,959,000	12,457,000	6,828,000	2,660,000	23,651,000	1,820,000	1,004,000	3,912,000	918,000	2,160,000	945,000	500,000	72,000	28,000	38,000	86,000	79,000	63,000	79,000				2,000	8,000	122,000	6,019,000	4,447,000	586,000	5,000		9,268,000	442,000	10,390,000	3,016,000	2,317,000	3,279,000		813,000	387,000	359,000	2,936,000	1,437,000	1,414,000	4,056,000
total revenues	352,060,000	278,363,000	277,871,000	225,302,000	186,063,000	201,375,000	199,305,000	148,365,000	343,032,000	342,920,000	462,312,000	406,278,000	432,090,000	492,018,000	340,363,000	42,700,000	205,589,000	422,110,000	381,522,000	336,770,000	600,159,000	410,206,000	226,253,000	266,468,000	-206,000	165,237,000	180,063,000	164,684,000	142,128,000	102,031,000	99,681,000	125,501,000	95,778,000	110,177,000	92,426,000	66,676,000	52,897,000	93,178,000	56,966,000	20,261,000	19,946,000	19,761,000	21,272,000	45,461,000	26,031,000	19,842,000	20,674,000	14,947,000	21,653,000	18,188,000	21,751,000	15,239,000	20,954,000	14,235,000		13,816,000	11,005,000	13,858,000	5,215,000	12,067,000	11,457,000	15,036,000
yoy	89.22%	38.23%	39.42%	51.86%	-45.76%	-41.28%	-56.89%	-63.48%	-20.61%	-30.30%	35.83%	851.47%	110.17%	16.56%	-10.79%	-87.32%	-65.74%	2.90%	68.63%	26.38%	-291439.32%	148.25%	25.65%	61.81%	-100.14%	61.95%	80.64%	31.22%	48.39%	-7.39%	7.85%	88.23%	81.07%	18.24%	62.25%	229.09%	165.20%	371.52%	167.80%	-55.43%	-23.38%	-0.41%	2.89%	204.15%	20.22%	9.09%	-4.95%	-1.92%	3.34%	27.77%		10.30%	90.40%	2.72%		14.49%	-3.95%	-7.83%
qoq	26.48%	0.18%	23.33%	21.09%	-7.60%	1.04%	34.33%	-56.75%	0.03%	-25.82%	13.79%	-5.97%	-12.18%	44.56%	697.10%	-79.23%	-51.29%	10.64%	13.29%	-43.89%	46.31%	81.30%	-15.09%	-129453.40%	-100.12%	-8.23%	9.34%	15.87%	39.30%	2.36%	-20.57%	31.03%	-13.07%	19.21%	38.62%	26.05%	-43.23%	63.57%	181.16%	1.58%	0.94%	-7.10%	-53.21%	74.64%	31.19%	-4.02%	38.32%	-30.97%	19.05%	-16.38%	42.73%	-27.27%	47.20%			25.54%	-20.59%	165.73%	-56.78%	5.32%	-23.80%
operating expenses:
direct cost of services	31,702,000	32,210,000	31,291,000	33,216,000	42,700,000	45,893,000	49,659,000	61,551,000	61,126,000	60,606,000	67,850,000	55,941,000	54,397,000	68,496,000	44,523,000	17,785,000	11,651,000	12,955,000	18,019,000	12,094,000	11,322,000	9,250,000	23,264,000	7,985,000	19,952,000	3,614,000	12,441,000	24,232,000	18,537,000	17,847,000	8,156,000	13,925,000	11,652,000	9,277,000	10,138,000	18,485,000	17,601,000	15,773,000	12,841,000	5,560,000	6,683,000	8,519,000	5,213,000	8,539,000	6,778,000	7,260,000	4,918,000	5,425,000	5,863,000	6,715,000	5,644,000	5,635,000	6,152,000	4,844,000		4,812,000	4,479,000	2,852,000	2,882,000	5,204,000	4,951,000	4,792,000
cost of goods sold	32,365,000	38,517,000	35,001,000	35,113,000	36,733,000	48,737,000	40,312,000	46,718,000	39,615,000	47,355,000	78,053,000	40,317,000	47,626,000	71,313,000	3,089,000	1,994,000	2,251,000	5,559,000	12,442,000	3,626,000	5,326,000	1,018,000	9,813,000	860,000	769,000	3,740,000	911,000	1,805,000	1,119,000	658,000	52,000	49,000	41,000	85,000	124,000	130,000	59,000	12,362,000	2,391,000		2,000	1,000		2,181,000	890,000	3,269,000	1,747,000		9,064,000	233,000	8,240,000	1,513,000	1,520,000	2,172,000		908,000	576,000	561,000	3,993,000	1,544,000	3,116,000	3,851,000
selling, general and administrative expenses	134,348,000	146,099,000	143,892,000	142,369,000	167,388,000	182,400,000	184,605,000	209,338,000	209,548,000	205,703,000	221,688,000	188,885,000	212,627,000	208,552,000	163,727,000	167,136,000	175,199,000	270,712,000	244,218,000	199,922,000	191,344,000	137,088,000	97,143,000	106,562,000	87,744,000	110,751,000	96,587,000	87,338,000	90,543,000	77,079,000	71,782,000	76,723,000	68,098,000	80,172,000	70,962,000	37,722,000	24,152,000	12,211,000	22,727,000	14,521,000	11,596,000	11,438,750	12,782,000	20,072,000	12,901,000					7,012,000	7,085,000	10,026,000	10,937,000	7,878,000		7,791,000	6,154,250	8,018,000	8,083,000		6,521,000	7,246,000
interest expense - securities lending and loan participations sold	717,000	1,013,000	2,094,000	1,968,000	719,000	1,073,000	6,359,000	23,313,000	35,383,000	38,863,000	38,368,000	35,780,000	32,424,000	22,738,000	17,447,000	14,544,000	11,766,000	12,362,000	10,097,000	10,983,000	19,189,000	11,782,000	10,975,000	11,221,000	8,473,000	9,565,000	10,273,000
total operating expenses	199,132,000	217,529,000	212,462,000	214,487,000	247,540,000	356,392,000	281,051,000	368,621,000	346,461,000	386,809,000	441,687,000	323,284,000	347,167,000	372,094,000	236,802,000	201,459,000	200,867,000	301,588,000	284,776,000	226,625,000	227,181,000	159,138,000	142,752,000	135,128,000	120,938,000	127,670,000	120,212,000	120,429,000	117,150,000	108,565,000	86,843,000	97,023,000	85,176,000	95,960,000	91,070,000	64,116,000	42,186,000	61,720,000	41,544,000	20,081,000	18,281,000	21,087,000	17,995,000	30,792,000	20,569,000	23,706,000	21,927,000	16,003,000	22,911,000	15,282,000	20,969,000	17,174,000	18,609,000	14,894,000		13,511,000	11,851,000	11,431,000	14,958,000	15,264,000	17,726,000	15,889,000
operating income	152,928,000	60,834,000	65,409,000	10,815,000	-61,477,000	-155,017,000	-81,746,000	-220,256,000	-3,429,000	-43,889,000	20,625,000	82,994,000	84,923,000	119,924,000	103,561,000	-158,759,000	4,722,000	120,522,000	96,746,000	110,145,000	372,978,000	251,068,000	83,501,000	131,340,000	-121,144,000	37,567,000	59,851,000	44,255,000	24,978,000	-6,534,000	12,838,000	28,478,000	10,602,000	14,217,000	1,356,000	2,560,000	10,711,000	31,458,000	15,422,000	180,000	1,665,000	-1,326,000	3,277,000	14,669,000	5,462,000	-3,864,000	-1,253,000	-1,056,000	-1,258,000	2,906,000	782,000	-1,935,000	2,345,000	-659,000		305,000	-846,000	2,427,000	-9,743,000	-3,197,000	-6,269,000	-853,000
yoy	-348.76%	-139.24%	-180.01%	-104.91%	1692.86%	253.20%	-496.34%	-365.39%	-104.04%	-136.60%	-80.08%	-152.28%	1698.45%	-0.50%	7.04%	-244.14%	-98.73%	-52.00%	15.86%	-16.14%	-407.88%	568.32%	39.51%	196.78%	-585.00%	-674.95%	366.20%	55.40%	135.60%	-145.96%	846.76%	1012.42%	-1.02%	-54.81%	-91.21%	1322.22%	543.30%	-2472.40%	370.61%	-98.77%	-69.52%	-65.68%	-361.53%	-1489.11%	-534.18%	-232.97%	-260.23%	-45.43%	-153.65%	-540.97%		-734.43%	-377.19%	-127.15%		-109.54%	-86.51%	-384.53%
qoq	151.39%	-6.99%	504.80%	-117.59%	-60.34%	89.63%	-62.89%	6323.33%	-92.19%	-312.80%	-75.15%	-2.27%	-29.19%	15.80%	-165.23%	-3462.11%	-96.08%	24.58%	-12.16%	-70.47%	48.56%	200.68%	-36.42%	-208.42%	-422.47%	-37.23%	35.24%	77.18%	-482.28%	-150.90%	-54.92%	168.61%	-25.43%	948.45%	-47.03%	-76.10%	-65.95%	103.98%	8467.78%	-89.19%	-225.57%	-140.46%	-77.66%	168.56%	-241.36%	208.38%	18.66%	-16.06%	-143.29%	271.61%	-140.41%	-182.52%	-455.84%			-136.05%	-134.86%	-124.91%	204.75%	-49.00%	634.94%
operating margin %	43.44%	21.85%	23.54%	4.80%	-33.04%	-76.98%	-41.02%	-148.46%	-1.00%	-12.80%	4.46%	20.43%	19.65%	24.37%	30.43%	-371.80%	2.30%	28.55%	25.36%	32.71%	62.15%	61.21%	36.91%	49.29%	58807.77%	22.74%	33.24%	26.87%	17.57%	-6.40%	12.88%	22.69%	11.07%	12.90%	1.47%	3.84%	20.25%	33.76%	27.07%	0.89%	8.35%	-6.71%	15.41%	32.27%	20.98%	-19.47%	-6.06%	-7.06%	-5.81%	15.98%	3.60%	-12.70%	11.19%	-4.63%	NaN%	2.21%	-7.69%	17.51%	-186.83%	-26.49%	-54.72%	-5.67%
other income:
interest income	358,000	241,000	1,491,000	492,000	1,486,000	712,000	1,438,000	804,000	669,000	420,000	180,000	701,000	2,574,000	1,482,000	686,000	500,000	67,000	54,000	70,000	56,000	49,000	27,000	67,000	224,000	246,000	248,000	361,000	331,000	637,000	590,000	442,000	166,000	128,000	62,000	76,000	150,000	132,000	286,000	26,000	3,000	3,000	7,000	5,000	3,000	2,000	3,000	3,000	4,000	2,000	-12,000	31,000	5,000	2,000	30,000		137,000	188,000	157,000	87,000	90,000	12,000	12,000
dividend income	669,000	997,000	564,000	122,000	135,000	323,000	675,000	9,209,000	11,815,000	12,141,000	12,876,000	9,555,000	13,204,000
realized and unrealized gains on investments	105,100,000	34,246,000	32,756,000	10,216,000				-155,690,000		-77,629,000	-75,361,000	18,843,000
change in fair value of financial instruments and other	-4,427,000	1,857,000	-3,314,000	11,884,000	922,000	3,987,000	476,000	-163,000	314,000	-750,000	-4,170,000	381,000	-209,000	460,000	-574,000	4,321,000	5,981,000
gain on sale and deconsolidation of businesses				5,372,000	80,841,000
gain on senior note exchange			12,222,000	44,454,000	10,532,000
income from equity investments	1,326,000	752,000	9,193,000	25,603,000		3,000	6,000	10,000		-43,750	-308,000	143,000	-10,000	821,250	-91,000	-3,399,000	6,775,000	1,629,000	1,149,000	-852,000		-478,000	409,000		-236,000	2,618,000	1,113,000	-1,400,000	-3,762,000	2,937,000	828,000		-672,000
gain on extinguishment of debt	2,890,000			-10,266,000
interest expense	-19,794,000	-20,051,000	-18,769,000	-23,952,000	-29,964,000	-31,113,000	-32,996,000	-42,687,000	-44,864,000	-46,891,000	-45,229,000	-47,332,000	-47,561,000	-44,399,000	-34,587,000	-31,764,000	-30,436,000	-26,441,000	-25,372,000	-20,856,000	-19,786,000	-16,712,000	-16,374,000	-16,509,000	-15,654,000	-15,075,000	-12,772,000	-11,588,000	-10,770,000	-9,467,000	-9,340,000	-10,359,000	-4,227,000	-3,187,000	-2,510,000	-1,894,000	-791,000	-598,000	-991,000	-275,000	-132,000	-99,000	-64,000	-418,000	-253,000	-132,000	-53,000	-449,000	-628,000	-829,000	-567,000	-637,000	-634,000	-678,000		-328,000	-1,027,000	-848,000	-759,000	-1,033,000	-2,001,000	-2,328,000
income from continuing operations before income taxes	239,050,000	79,221,000	98,602,000	74,740,000
benefit from income taxes	-16,891,000				3,042,000	-4,210,000	-14,508,000		17,090,000	51,037,000	15,079,000					52,513,000		-23,847,000	-22,693,000							-7,842,000	-14,409,000		-3,104,000					1,938,250	1,357,000
income from continuing operations	222,159,000	90,300,000	97,419,000	71,687,000																																																					-1,906,000	455,000			-4,467,000	4,100,000
income from discontinued operations, net of income taxes			-1,866,000	69,312,000	3,395,000	249,742,000	-138,746,000
net income	222,159,000	90,300,000	95,553,000	140,999,000	-16,567,000	-5,606,000	-287,598,000	-433,781,000	-47,954,000	-89,664,000	-76,308,000	43,781,000	16,560,000	-63,455,000	52,645,000	-136,588,000	-9,196,000	67,446,000	51,658,000	75,100,000	256,598,000	171,845,000	48,892,000	82,529,000	-99,249,000	17,516,000	34,144,000	22,309,000	7,979,000	-8,965,000	2,722,000	17,801,000	4,842,000	-5,451,000	122,000	3,363,000	13,901,000	23,009,000	8,374,000	-27,000	1,370,000	-1,046,000	2,618,000	8,569,000	3,436,000	-2,902,000	-916,000	-907,000	-1,070,000	1,000,000	236,000	-1,595,000	935,000	-767,000		-526,000	-1,906,000	455,000	-6,607,000	-2,980,000	-4,542,000	4,033,000
yoy	-1440.97%	-1710.77%	-133.22%	-132.50%	-65.45%	-93.75%	276.89%	-1090.80%	-389.58%	41.30%	-244.95%	-132.05%	-280.08%	-194.08%	1.91%	-281.87%	-103.58%	-60.75%	5.66%	-9.00%	-358.54%	881.07%	43.19%	269.94%	-1343.88%	-295.38%	1154.37%	25.32%	64.79%	64.47%	2131.15%	429.32%	-65.17%	-123.69%	-98.54%	-12555.56%	914.67%	-2299.71%	219.86%	-100.32%	-60.13%	-63.96%	-385.81%	-1044.76%	-421.12%	-390.20%	-488.14%	-43.13%	-214.44%	-230.38%		203.23%	-149.06%	-268.57%		-82.35%	-58.04%	-88.72%
qoq	146.02%	-5.50%	-32.23%	-951.08%	195.52%	-98.05%	-33.70%	804.58%	-46.52%	17.50%	-274.29%	164.38%	-126.10%	-220.53%	-138.54%	1385.30%	-113.63%	30.56%	-31.21%	-70.73%	49.32%	251.48%	-40.76%	-183.15%	-666.62%	-48.70%	53.05%	179.60%	-189.00%	-429.35%	-84.71%	267.64%	-188.83%	-4568.03%	-96.37%	-75.81%	-39.58%	174.77%	-31114.81%	-101.97%	-230.98%	-139.95%	-69.45%	149.39%	-218.40%	216.81%	0.99%	-15.23%	-207.00%	323.73%	-114.80%	-270.59%	-221.90%			-72.40%	-518.90%	-106.89%	121.71%	-34.39%	-212.62%
net income margin %	63.10%	32.44%	34.39%	62.58%	-8.90%	-2.78%	-144.30%	-292.37%	-13.98%	-26.15%	-16.51%	10.78%	3.83%	-12.90%	15.47%	-319.88%	-4.47%	15.98%	13.54%	22.30%	42.76%	41.89%	21.61%	30.97%	48179.13%	10.60%	18.96%	13.55%	5.61%	-8.79%	2.73%	14.18%	5.06%	-4.95%	0.13%	5.04%	26.28%	24.69%	14.70%	-0.13%	6.87%	-5.29%	12.31%	18.85%	13.20%	-14.63%	-4.43%	-6.07%	-4.94%	5.50%	1.09%	-10.47%	4.46%	-5.39%	NaN%	-3.81%	-17.32%	3.28%	-126.69%	-24.70%	-39.64%	26.82%
net income attributable to noncontrolling interests	8,886,000	3,464,000	4,470,000	1,528,000	-6,592,000												866,000	3,274,000	1,108,000	-576,000	1,942,000	251,000	513,000	-1,311,000	-584,000	387,000	-158,000	152,000	-44,000	-160,000	-92,000	804,000	339,000	662,000	-246,000	83,000	-120,000	10,569,000	-565,000	74,000	1,122,000	-42,000	1,155,000	-95,000	754,000	-80,000	-48,000	-130,000	264,000	66,000	-130,000	-64,000		-220,000
net income attributable to brc group holdings, inc.	213,273,000
preferred stock dividends	2,015,000	2,015,000	2,015,000	2,015,000	2,015,000	2,015,000	2,015,000	2,015,000	2,015,000	2,015,000	2,015,000	2,015,000	2,012,000	2,002,000	2,002,000	2,002,000	2,002,000	1,990,000	1,929,000	1,789,000	1,749,000	1,480,000	1,088,000	1,087,000	1,055,000
net income available to common shareholders	211,258,000	84,821,000	89,068,000	137,456,000				-435,619,000	-51,180,000	-91,638,000	-75,838,000	44,366,000	15,143,000	-59,447,000	45,835,000	-142,161,000	-12,064,000	62,182,000	48,621,000	73,887,000	252,907,000	170,114,000	47,291,000	82,753,000	-99,720,000
basic net income per common share:
continuing operations	6,620	2,780	2,970	2,230	-500	-8,170	-4,970
discontinued operations			-60	2,270	110	8,240	-4,420
basic income per common share	6,620	2,780	2,910	4,500		70	-9,390	-14,350	-1,710	-3,130	-2,530	1,570	530	-2,090	1,620	-5,070	-430	2,240	1,760	2,700	9,380	6,650	1,860	3,230	-3,830
diluted net income per common share:
diluted income per common share	6,570	2,780	2,910	4,500		70	-9,390	-14,350	-1,710	-3,130	-2,530	1,550	510	-2,090	1,530	-5,070	-430	2,020	1,690	2,580	8,810	6,420	1,750	3,070	-3,830
weighted-average basic common shares outstanding	31,915,854,000	30,555,258,000	30,597,066,000	30,527,835,000	30,497,512,000	30,336,274,000	30,499,931,000		29,989,584,000	29,265,099,000	29,961,068,000	28,239,116,000	28,585,337,000	28,188,530,000	28,293,064,000	28,051,570,000	27,855,033,000	27,366,292,000	27,570,716,000	27,344,184,000	26,972,275,000	25,607,278,000	25,446,292,000	25,627,085,000	26,028,613,000	26,401,036,000
weighted-average diluted common shares outstanding	32,167,246,000	30,555,258,000	30,597,066,000	30,527,835,000	30,497,512,000	30,336,274,000	30,499,931,000		29,989,584,000	29,265,099,000	29,961,068,000	28,654,246,000	29,513,435,000	28,188,530,000	29,968,417,000	28,051,570,000	27,855,033,000	29,005,602,000	28,794,066,000	28,668,465,000	28,710,368,000	26,508,397,000	27,050,448,000	26,992,823,000	26,028,613,000	27,529,157,000
restructuring charge		-310,000	184,000	321,000		597,000	116,000	20,000	789,000	1,182,000	228,000	628,000	93,000	995,000	8,016,000								1,557,000					1,552,000	147,000	6,259,000	428,000	1,602,000	217,000	890,000	4,896,000	6,214,000	374,000										2,548,000
impairment of goodwill and tradenames				1,500,000		6,920,250		27,681,000		33,100,000	35,500,000
loss on extinguishment of debt		345,000	-950,000		-10,427,000
provision for income taxes		-298,500	-1,183,000	-3,053,000				-25,008,000														-62,060,000	-18,711,000					-9,289,000										-1,546,000	-6,083,000		-166,000												-778,000
net income attributable to registrant		55,144,750	91,083,000
net income attributable to b. riley financial, inc.				139,471,000				-433,604,000	-49,165,000	-89,623,000	-73,823,000	46,381,000	17,155,000	-57,445,000	47,837,000	-140,159,000	-10,062,000	64,172,000	50,550,000	75,676,000	254,656,000	171,594,000	48,379,000	83,840,000	-98,665,000	17,129,000	34,302,000	22,157,000	8,023,000	-8,805,000	2,814,000	16,997,000	4,503,000	-6,113,000	368,000	3,280,000	14,021,000	12,440,000	8,939,000	-101,000	248,000	-1,004,000	1,463,000	8,664,000	2,682,000	-2,822,000	-868,000
realized and unrealized losses on investments					-14,500,000	-51,324,000	-22,197,000		-29,545,000				-28,442,000
loss from equity investments					-552,000				-4,000															-318,000
loss from continuing operations before income taxes					-23,004,000	-251,138,000	-134,344,000
loss from continuing operations					-19,962,000	-255,348,000	-148,852,000
net loss attributable to b. riley financial, inc.					-9,975,000	2,892,000	-284,397,000
net loss available to common shareholders					-11,990,000	877,000	-286,412,000
basic loss per common share					-390
diluted loss per common share					-390
trading income						-6,781,000	-1,238,000	-31,321,000
net loss attributable to noncontrolling interests and redeemable noncontrolling interests						-541,750	-3,201,000
income before income taxes								-408,773,000	-65,044,000	-140,701,000	-91,387,000	65,285,000	24,479,000	-87,453,000	68,995,000	-189,101,000	-12,891,000	91,293,000	74,351,000	95,002,000	354,116,000	233,905,000	67,603,000	114,737,000	-136,788,000	25,358,000	48,553,000	31,598,000	11,083,000	-12,474,000	4,768,000	23,178,000	5,831,000	10,812,000	-1,235,000	816,000	10,052,000	31,146,000	14,457,000	-92,000	1,536,000	-1,418,000	3,218,000	14,254,000	5,211,000					-191,500	103,000	-2,582,000	1,713,000	-1,142,000		178,000
net income attributable to noncontrolling interests and redeemable noncontrolling interests								-177,000	1,211,000	-41,000	-2,485,000	-2,600,000	-595,000	-6,010,000	4,808,000	3,571,000
trading income and fair value adjustments on loans									-29,868,000	-41,518,000	-10,587,000	42,365,000	51,568,000									140,160,000	31,753,000
interest income - loans and securities lending									59,944,000	62,781,000	69,730,000	75,199,000	77,186,000	62,545,000	57,594,000	63,835,000	61,426,000	33,443,000	26,869,000	25,491,000	36,920,000	30,116,000	26,026,000	24,506,000	21,851,000	23,074,000	25,766,000
impairment of tradenames												1,733,000												8,500,000	4,000,000
(benefit from) benefit from income taxes												-21,504,000	-7,919,000	9,964,500	-16,350,000															-2,103,000	-2,046,000	-5,377,000	-989,000
trading income (losses) and fair value adjustments on loans														-70,040,750	12,154,000			79,454,500	18,197,000	32,679,000	266,942,000			114,547,000
trading (losses) income and fair value adjustments on loans																-223,927,000	-68,390,000								-182,442,000
benefit for income taxes																	3,695,000			-19,902,000	-97,518,000				37,539,000											2,547,000	3,849,000			65,000		372,000	-600,000	-5,685,000	-1,775,000	1,091,000	387,000	594,000	814,000	85,500	133,000	987,000		375,000		-704,000	151,000	-880,000	4,263,000	1,572,000	4,054,000	7,610,000
gain on extinguishment of loans and other																		-4,471,000	1,758,000
gain on extinguishment of loans																				6,509,000
gain from equity investments																					875,000
(provision) beneft for income taxes																								-32,208,000
basic income per share																										0.613	1.29	0.84	0.31	-0.34	0.11	0.67	0.17	-0.3	0.01	0.15	0.73	0.128	0.47	-0.01	0.02	0.198	0.09	0.53	0.17	-0.1	-0.05				0.01	-0.05	0.04	-0.02
diluted income per share																										0.593	1.21	0.82	0.3	-0.33	0.1	0.64	0.17	-0.28	0.01	0.15	0.71	0.125	0.47	-0.01	0.01	0.198	0.09	0.53	0.17	-0.1	-0.05				0.01	-0.05	0.04	-0.02
weighted-average basic shares outstanding																											26,556,223	26,278,352	26,217,215	25,937,305	25,968,997	25,424,178	26,219,277	23,181,388	26,059,490	21,216,829	19,181,749	18,106,621	18,977,072	17,935,254	16,490,178	16,221,040	16,243,425	16,237,860	16,117,422	9,612,154	15,911,482	4,972,203	28,682,975		28,682,975	28,682,975	28,682,975	28,682,975	28,539,651	28,360,875,000	28,075,758	28,160,667,000	27,998,705,000	27,899,963,000	17,786,686	22,088,614,000
weighted-average diluted shares outstanding																											28,233,423	26,896,573	26,687,531	26,764,856	26,854,261	26,397,513	27,271,819	24,290,904	27,639,862	22,119,055	19,626,574	18,391,852	19,191,035	17,935,254	16,553,953	16,265,915	16,344,649	16,310,829	16,162,304	9,612,154	15,911,482	4,972,203	28,682,975		29,891,401	28,682,975	29,656,430	28,682,975	29,408,466	28,360,875,000	28,075,758	29,129,099,000	27,998,705,000	27,899,963,000	18,664,049	23,472,774,000
interest expense - securities lending																												5,502,000	6,804,000	6,722,000	6,425,000	4,724,000	5,168,000	5,536,000	4,950,000	1,565,000
cash dividends per share																														0.145	0.3	0.12	0.16	0.12	0.13	0.16	0.26	0.25	0.03
income from equity investment																																4,893,000
loss from equity investment																																		-280,000	-157,000
sale of goods and products																																						1,667,000	6,666,000
restructuring costs																																						896,250	3,585,000
cash dividends paid per share																																										0.065	0.2
selling, general and administrative																																														13,177,000	12,714,000	10,578,000	7,984,000											8,516,000
loss from equity investment in great american real estate, llc
loss from equity investment in shoon trading limited
income before provision for income taxes																																														-1,172,000	-1,303,000	-1,501,000
net loss attributable to great american group, inc.																																																-777,000
basic loss per share																																																-0.16
diluted loss per share																																																-0.16
income before benefit from income taxes																																																	-1,884,000
net income attributable to great american group, inc.																																																	-1,334,000	934,000	366,000		1,289,000	-547,000
basic earnings per share																																																	-0.05											-0.11	-0.54	0.18
diluted earnings per share																																																	-0.05							-0.02	-0.06	0.02	-0.24	-0.11	-0.53	0.17
income from equity investment in
great american real estate, llc																																																		-3,750		-15,000
loss from equity investment in
shoon trading limited																																																		-35,750	-143,000
gain from bargain purchase
net income attributable to great
american group, inc.																																																				-1,531,000
net loss attributable to noncontrolling interests																																																					-354,000
other expense
income from equity investment in great american real estate, llc																																																						165,000		68,000
comprehensive income:
other comprehensive income:
change in cumulative translation adjustment																																																						-52
other comprehensive income, net of tax																																																						-52
total comprehensive income																																																						-819
comprehensive income attributable to noncontrolling interests																																																						220
comprehensive income attributable to great american group, inc.																																																						-599
other income																																																								-4,000	-317,000	-401,000	-455,000	-412,000	-263,000	-341,000
basic and diluted earnings per share																																																								-0.02	-0.083	0.02	-0.24
income from continuing operations before benefit for income taxes																																																									-2,057,000	1,335,000			-8,521,000	-3,510,000
income from discontinued operations
pro forma computation related to conversion to c corporation for income tax purposes
historical income from operations before income taxes
pro forma benefit from income taxes
pro forma net income																																																													-5,239	-2,168
pro forma weighted-average basic shares outstanding																																																													17,786,686	22,088,614
pro forma weighted-average diluted shares outstanding																																																													18,664,049	22,088,614
pro forma basic and diluted earnings per share
pro forma diluted earnings per share																																																													-0.39	-0.1
income from operations before benefit for income taxes																																																											-10,870,000	-4,552,000
pro forma provision for income taxes
revenues
pro forma basic earnings per share																																																													-0.4	-0.1
loss from discontinued operations																																																													-16,750	-67,000
historical income from continuing operations before income taxes																																																													-8,521	-3,510
pro forma benefit for income taxes																																																													3,357	1,383
pro forma income from continuing operations																																																													-5,164	-2,127
pro forma loss from discontinued operations, net of tax																																																													-75	-41

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-09-30	2011-12-31	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30

assets
assets:
cash and cash equivalents	175,823,000	226,601,000	184,225,000	267,388,000	138,303,000	154,877,000	159,247,000	236,895,000	190,690,000	231,964,000	252,288,000	107,581,000	209,971,000	268,618,000	231,805,000	216,098,000	213,584,000	278,933,000	378,205,000	297,396,000	237,590,000	103,602,000	169,676,000	106,253,000	124,231,000	104,268,000	170,587,000	55,609,000	163,462,000	179,440,000	233,918,000	191,274,000	74,339,000	132,823,000	102,409,000	104,670,000	71,541,000	112,105,000	26,474,000	48,123,000	26,786,000	30,012,000	45,922,000	42,128,000	10,331,000	21,600,000	25,542,000	43,043,000	16,904,000	18,867,000	13,969,000	20,597,000	31,093,000	18,987,000	15,034,000	21,902,000	20,080,000	21,018,000	26,493,000	28,297,000	37,989,000	46,839,000
restricted cash	2,199,000	2,676,000	1,274,000	1,255,000	1,375,000	100,475,000	1,366,000	1,728,000	1,889,000	1,875,000	2,060,000	2,321,000	2,351,000	2,308,000	1,578,000	928,000	928,000	927,000	927,000	1,335,000	8,532,000	1,235,000	1,410,000	471,000	471,000	471,000	471,000	2,635,000	7,491,000	838,000	468,000	467,000	23,371,000	19,711,000	9,269,000	5,632,000	518,000	3,294,000	78,287,000	12,108,000	52,000	51,000	124,000	502,000	25,654,000	7,657,000	3,578,000	132,000	80,000	325,000	2,538,000	1,225,000	230,000	6,767,000		113,000		195,000	1,895,000		459,000	24,956,000
due from clearing brokers	43,437,000	51,000,000	148,291,000	45,380,000	12,895,000	30,713,000	31,867,000	40,911,000	40,875,000	51,334,000	25,579,000	22,289,000	19,145,000	48,737,000	53,472,000	50,597,000	40,350,000	29,657,000	599,715,000	424,949,000	416,925,000	7,089,000	19,589,000	29,089,000	10,879,000	23,818,000	27,791,000	29,245,000	22,418,000	37,738,000	54,891,000	35,242,000	47,896,000	31,479,000	21,580,000	6,297,000
securities and other investments owned	639,668,000	446,843,000	315,466,000		231,760,000
securities borrowed	133,438,000	114,937,000	106,777,000	72,320,000	40,895,000	43,022,000	64,004,000	742,940,000	2,050,079,000	2,870,939,000	2,782,000,000	2,938,521,000	2,942,843,000	2,343,327,000	2,243,306,000	2,414,074,000	1,629,773,000	2,090,966,000	1,347,656,000	1,140,023,000	1,313,635,000	765,457,000	676,423,000	786,363,000	674,163,000	814,331,000	720,207,000	759,921,000	827,242,000	931,346,000	1,042,295,000	1,013,988,000	861,092,000	807,089,000	730,022,000	909,331,000
accounts receivable	67,329,000	55,473,000	63,457,000	61,233,000	61,597,000	88,384,000	91,506,000	115,681,000	123,797,000	115,496,000	127,418,000	118,927,000	120,853,000	149,110,000	64,707,000	52,935,000	44,722,000	49,673,000	54,790,000	57,853,000	62,425,000	46,518,000	45,654,000	43,226,000	46,450,000	46,624,000	47,419,000	56,450,000	43,975,000	42,123,000	38,958,000	33,111,000	25,382,000	20,015,000	19,924,000	19,319,000	18,022,000	18,989,000	15,112,000	7,997,000	7,945,000	9,472,000	10,069,000	23,424,000	14,815,000	10,098,000	11,546,000	14,061,000	10,153,000	8,858,000	9,675,000	9,015,000	9,050,000	6,148,000	7,482,000	2,012,000	3,087,000	2,277,000	1,915,000	2,377,000	2,628,000	2,550,000
loans receivable, at fair value	24,927,000	26,303,000	55,018,000	48,980,000	98,596,000	90,103,000	151,704,000	229,199,000	452,496,000	532,419,000	549,142,000	683,827,000	772,085,000	701,652,000	814,715,000	770,840,000	882,391,000	873,186,000	350,762,000	270,295,000	294,085,000	390,689,000	344,339,000	325,517,000	326,299,000
equity investments	90,692,000	90,433,000
prepaid expenses and other assets	117,851,000	128,650,000	219,401,000	219,972,000	241,753,000	252,344,000	201,688,000	221,464,000	246,402,000	237,327,000	265,531,000	309,083,000	491,872,000	460,696,000	355,875,000	480,276,000	470,525,000	463,502,000	448,985,000	119,400,000	92,812,000	87,262,000	87,560,000	105,312,000	114,686,000	81,808,000	112,309,000	140,817,000	87,942,000	79,477,000	50,193,000	42,203,000	39,468,000	22,605,000	20,375,000	10,986,000
operating lease right-of-use assets	33,532,000	32,109,000	36,263,000	40,178,000	46,807,000	53,767,000	79,848,000	83,763,000	84,217,000	87,605,000	82,245,000	85,207,000	88,989,000	88,593,000	84,550,000	59,806,000	60,677,000	56,969,000	59,735,000	60,933,000	60,518,000	48,799,000	43,514,000	44,636,000	46,213,000	47,809,000	49,642,000	50,943,000	51,086,000
property and equipment	17,608,000	17,606,000	18,084,000	18,452,000	17,969,000	18,954,000	43,422,000	44,689,000	24,146,000	25,206,000	24,774,000	28,443,000	27,577,000	27,141,000	16,174,000	14,182,000	12,980,000	12,870,000	13,720,000	14,447,000	15,295,000	11,685,000	11,986,000	12,287,000	12,223,000	12,727,000	13,171,000	13,997,000	15,644,000	15,523,000	11,143,000	11,195,000	11,467,000	11,977,000	13,105,000	13,450,000	5,409,000	5,785,000	5,765,000	475,000	519,000	592,000	651,000	729,000	803,000	776,000	862,000	956,000	995,000	1,090,000	1,066,000	1,335,000	1,036,000	897,000	916,000	1,225,000	1,369,000	1,474,000	1,484,000	1,385,000	1,411,000	1,394,000
goodwill	392,687,000	392,687,000	392,687,000	392,687,000	392,687,000	423,136,000	498,377,000	502,341,000	471,636,000	472,326,000	497,388,000	526,827,000	523,997,000	512,595,000	429,187,000	394,331,000	362,466,000	250,568,000	237,961,000	236,005,000	233,807,000	227,046,000	227,046,000	227,046,000	223,697,000	223,697,000	220,562,000	220,181,000	223,243,000	223,368,000	120,129,000	99,246,000	98,771,000	98,771,000	100,903,000	67,335,000	48,903,000	48,903,000	52,634,000	34,528,000	34,528,000	34,528,000	34,528,000	34,528,000	34,528,000	27,557,000	27,639,000	27,816,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000	5,688,000
other intangible assets	112,038,000	118,290,000	124,645,000	131,320,000	139,629,000	146,885,000	187,185,000	319,320,000	311,850,000	322,014,000	333,641,000	354,328,000	366,060,000	374,098,000	296,346,000	270,322,000	211,915,000	207,651,000	196,697,000	200,304,000	205,439,000	190,745,000	194,516,000	199,991,000	212,500,000	220,525,000	79,488,000	82,765,000	88,479,000	91,358,000	51,011,000	52,603,000	54,788,000	56,948,000	59,671,000	45,033,000	39,239,000	41,166,000	40,913,000	4,545,000	4,656,000	4,768,000	4,880,000	4,991,000	5,107,000	2,799,000	2,865,000	2,931,000	140,000	140,000	140,000	140,000	140,000	140,000	140,000	180,000	221,000	262,000	302,000	342,000	382,000	423,000
deferred income taxes	763,000	763,000	1,300,000	1,300,000	1,300,000	13,393,000	13,402,000	32,376,000	49,607,000	33,595,000	2,808,000	2,845,000	2,845,000	3,978,000									14,223,000	14,329,000	35,786,000	31,522,000	36,041,000	35,969,000	42,789,000	42,399,000	26,901,000	29,222,000	29,227,000	29,229,000	41,474,000	33,407,000	18,894,000	8,619,000	11,509,000	18,722,000	18,841,000	18,992,000	4,645,000	4,645,000	4,645,000	6,420,000	3,649,000	3,637,000	3,870,000	3,870,000	4,192,000	4,095,000	3,339,000	4,765,000	4,460,000	4,999,000	5,463,000	3,270,000	5,459,000	10,047,000	8,475,000	5,561,000
assets of discontinued operations	2,221,000	2,221,000	2,221,000	2,221,000	64,874,000		291,701,000																																																							116,000
total assets	1,854,213,000	1,706,592,000	1,669,311,000	1,545,223,000	1,511,003,000	1,783,263,000	2,157,276,000	3,236,282,000	4,997,644,000	6,074,378,000	6,142,856,000	6,253,312,000	6,618,190,000	6,111,202,000	5,833,987,000	5,875,217,000	5,251,759,000	5,851,919,000	5,046,851,000	4,106,727,000	4,111,811,000	2,662,730,000	2,300,082,000	2,295,272,000	2,130,896,000	2,318,178,000	2,106,891,000	1,978,983,000	1,917,986,000	1,957,710,000	1,920,901,000	1,877,169,000	1,430,329,000	1,386,904,000	1,226,077,000	1,341,420,000	254,933,000	264,618,000	261,354,000	169,538,000	126,147,000	132,420,000	142,369,000	147,345,000	135,901,000	138,990,000	115,760,000	120,853,000	62,905,000	73,677,000	65,537,000	67,738,000	77,594,000	72,862,000	76,358,000	71,082,000	72,274,000	70,194,000	80,003,000	72,831,000	78,673,000	109,454,000
liabilities and equity
liabilities:
accounts payable	37,721,000	41,463,000	41,429,000	35,081,000	44,210,000	52,564,000	54,522,000	58,932,000	44,791,000	44,550,000	54,030,000	60,264,000	59,969,000	81,384,000	22,167,000	22,428,000	8,634,000	6,326,000	4,028,000	6,101,000	7,487,000	2,722,000	4,226,000	4,301,000	6,858,000	4,477,000	6,239,000	2,136,000	5,217,000	5,646,000	2,278,000	3,790,000	3,180,000	2,650,000	4,046,000	3,184,000	2,498,000	2,703,000	4,188,000	1,084,000	1,466,000	1,123,000
accrued expenses and other liabilities	153,413,000	154,780,000	183,395,000	175,144,000	182,161,000	203,196,000	228,698,000	259,916,000	253,153,000	273,193,000	303,428,000	251,260,000	263,335,000	322,974,000	278,889,000	245,773,000	298,905,000	343,750,000	277,586,000	220,603,000	267,164,000	168,478,000	127,036,000	106,531,000	103,452,000	130,714,000	115,062,000	93,832,000	90,921,000	108,662,000	87,901,000	72,986,000	57,746,000	71,685,000	58,954,000	62,573,000	18,389,000	18,505,000	18,279,000	5,335,000	5,314,000	6,478,000
deferred revenue	48,730,000	49,907,000	51,982,000	53,499,000	57,254,000	58,153,000	61,354,000	65,421,000	68,643,000	71,504,000	73,829,000	77,089,000	84,019,000	85,441,000	89,157,000	79,226,000	75,509,000	69,507,000	68,310,000	68,398,000	68,515,000	68,651,000	70,565,000	71,017,000	73,709,000	67,121,000	68,385,000	68,097,000	69,959,000	69,066,000	3,205,000	3,600,000	3,519,000	3,141,000	3,181,000	3,731,000	3,815,000	4,130,000	3,863,000
securities sold not yet purchased, at fair value	16,833,000	9,809,000
securities loaned	115,642,000	97,321,000	89,165,000	54,588,000	22,987,000	27,942,000	54,814,000	733,552,000	2,041,169,000	2,859,306,000	2,772,790,000	2,929,265,000	2,937,982,000	2,334,031,000	2,239,250,000	2,414,201,000	1,619,132,000	2,088,685,000	1,345,825,000	1,134,359,000	1,307,069,000	759,810,000	667,109,000	779,013,000	670,859,000	810,495,000	714,947,000	759,109,000	824,833,000	930,522,000	1,035,408,000	1,012,240,000	854,723,000	803,371,000	728,201,000	911,991,000
operating lease liabilities	41,752,000	40,902,000	44,901,000	48,714,000	54,143,000	61,038,000	90,569,000	94,924,000	95,645,000	98,563,000	93,027,000	96,473,000	100,075,000	99,124,000	96,049,000	70,972,000	72,339,000	69,072,000	72,158,000	73,761,000	73,630,000	60,778,000	55,790,000	57,364,000	59,430,000	61,511,000	63,817,000	65,499,000	65,855,000
revolving credit facility	10,708,000	6,638,000	10,167,000	12,075,000	13,800,000	16,329,000	13,681,000	19,809,000	22,197,000	43,801,000	57,246,000	110,875,000	139,463,000	127,678,000	74,700,000	80,000,000	80,000,000	80,000,000	80,000,000																							272,000	70,000	127,000	1,880,000	56,000	425,000	1,352,000	4,000	333,000	1,256,000	1,516,000	1,728,000	1,266,000	1,942,000
term loans	116,673,000	119,297,000	121,924,000	124,584,000	184,088,000	199,429,000	490,650,000	581,395,000	596,262,000	625,151,000	618,301,000	529,242,000	626,613,000	572,079,000	558,035,000	367,815,000	342,851,000	346,385,000	252,927,000	257,104,000
senior notes payable	1,171,490,000	1,301,798,000	1,311,311,000	1,323,727,000	1,370,769,000	1,530,561,000	1,529,560,000	1,528,565,000	1,553,616,000	1,668,021,000	1,667,088,000	1,666,009,000	1,722,977,000	1,721,751,000	1,661,191,000	1,644,778,000	1,627,649,000	1,606,560,000	1,362,847,000	1,213,105,000	1,139,100,000	870,783,000	854,926,000	854,037,000	853,523,000	688,112,000	701,278,000	582,482,000	465,040,000	459,754,000	455,783,000	333,768,000	210,960,000	203,621,000	115,574,000	86,065,000	27,754,000	27,700,000
liabilities of discontinued operations	830,000	830,000	830,000	830,000	19,113,000		19,210,000
total liabilities	1,717,881,000	1,826,854,000	1,882,402,000	1,854,526,000	1,964,973,000	2,239,279,000	2,583,498,000	3,379,385,000	4,697,987,000	5,714,812,000	5,675,125,000	5,791,374,000	6,002,859,000	5,426,687,000	5,077,534,000	4,978,947,000	4,206,582,000	4,801,718,000	3,954,644,000	3,344,980,000	3,345,991,000	2,123,770,000	1,900,101,000	1,959,053,000	1,867,875,000	1,927,927,000	1,807,487,000	1,701,805,000	1,654,061,000	1,699,050,000	1,651,755,000	1,612,893,000	1,158,664,000	1,121,058,000	951,440,000	1,101,341,000	92,928,000	114,226,000	117,760,000	35,136,000	14,955,000	23,100,000	29,370,000	34,174,000	30,808,000	41,911,000	26,423,000	30,631,000	68,149,000	77,828,000	70,857,000	72,846,000	81,237,000	79,131,000	84,614,000	80,263,000	81,177,000	78,155,000	89,220,000	76,441,000	79,673,000	107,726,000
commitments and contingencies
brc group holdings, inc. stockholders’ equity
preferred stock, 0.0001 par value...
common stock, 0.0001 par value...	4,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	3,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,000		2,000		2,000	2,000	2,000	4,000	4,000			4,000	4,000		4,000	4,000	4,000	3,000	3,000	3,000	3,000
additional paid-in capital	634,479,000	598,022,000	596,320,000	595,432,000	591,207,000	589,387,000	588,048,000	585,493,000	579,647,000	572,170,000	576,947,000	452,254,000	445,352,000	494,201,000	473,420,000	459,220,000	450,164,000	413,486,000	399,349,000	387,084,000	380,543,000	310,326,000	332,085,000	306,772,000	308,472,000	323,109,000	259,237,000	255,865,000	257,888,000	258,638,000	255,236,000	244,631,000	261,413,000	259,980,000	259,047,000	220,628,000	143,228,000	141,170,000	141,389,000	140,555,000	117,236,000	116,799,000	116,423,000	115,671,000	115,255,000	110,598,000	99,454,000	99,454,000	3,082,000	3,082,000	3,082,000	3,082,000	3,082,000	3,082,000	3,177,000	3,146,000	2,878,000	1,928,000	1,121,000	121,000	-249,000	-2,313,000
accumulated deficit	-550,013,000	-763,286,000	-850,129,000	-941,243,000	-1,080,971,000	-1,070,996,000	-1,084,728,000	-798,945,000	-347,558,000	-281,285,000	-157,693,000	-49,140,000	-62,566,000
accumulated other comprehensive loss	-7,149,000	-6,272,000	-6,654,000	-5,898,000	-7,056,000	-6,569,000				229,000	-5,476,000	-597,000	-1,604,000	-2,470,000	-6,726,000	-3,884,000	-1,568,000	-1,080,000	-2,207,000	-1,178,000	-1,459,000	-823,000	-2,167,000	-2,693,000	-3,208,000	-1,988,000	-2,345,000	-1,824,000	-1,991,000	-2,161,000	-1,696,000	-1,619,000	-754,000	-534,000	-321,000	-666,000	-1,067,000	-1,712,000	-1,098,000	-1,075,000	-993,000	-1,058,000		-656,000	-727,000						-809,000	-746,000	-875,000					-7,000
total brc group holdings, inc. stockholders’ equity	77,321,000
noncontrolling interests	59,011,000	51,271,000	47,369,000	42,403,000	42,847,000	32,159,000	71,361,000	75,233,000	71,208,000	68,449,000	53,950,000	59,418,000	59,179,000	59,379,000	64,081,000	55,467,000	45,813,000	43,930,000	40,512,000	37,578,000	33,823,000	26,374,000	26,122,000	26,210,000	27,986,000	29,591,000	552,000	710,000	558,000	602,000	762,000	854,000	122,000	-184,000	-47,000	1,061,000	954,000	1,045,000	1,091,000	1,078,000	1,004,000	-118,000	1,832,000	677,000	772,000	18,000	98,000	146,000	276,000	12,000	-52,000	463,000	526,000	732,000
total equity	136,332,000					-456,016,000	-426,222,000	-143,103,000	299,657,000	359,566,000	467,731,000	461,938,000	440,364,000	505,893,000	577,694,000	543,376,000	700,177,000	705,201,000	747,207,000	761,747,000	765,820,000	538,960,000	399,981,000	336,219,000	263,021,000	390,251,000	299,404,000	277,178,000	263,925,000	258,660,000	269,146,000	264,276,000	271,665,000	265,846,000	274,637,000	240,079,000	162,005,000	150,392,000	143,594,000	134,402,000	111,192,000	109,320,000	112,999,000	113,171,000	105,093,000	97,079,000	89,337,000	90,222,000	-5,244,000	-4,151,000	-5,320,000	-5,108,000	-3,643,000	-6,269,000
total liabilities and equity	1,854,213,000					1,783,263,000	2,157,276,000	3,236,282,000	4,997,644,000	6,074,378,000	6,142,856,000	6,253,312,000	6,618,190,000	6,111,202,000	5,833,987,000	5,875,217,000	5,251,759,000	5,851,919,000	5,046,851,000	4,106,727,000	4,111,811,000	2,662,730,000	2,300,082,000	2,295,272,000	2,130,896,000	2,318,178,000	2,106,891,000	1,978,983,000	1,917,986,000	1,957,710,000	1,920,901,000	1,877,169,000	1,430,329,000	1,386,904,000	1,226,077,000	1,341,420,000	254,933,000	264,618,000	261,354,000	169,538,000	126,147,000	132,420,000	142,369,000	147,345,000	135,901,000	138,990,000	115,760,000	120,853,000	62,905,000	73,677,000	65,537,000	67,738,000	77,594,000	72,862,000
due from related parties			202,000	185,000	438,000	162,000	189,000	905,000	92,000	172,000	395,000	669,000	372,000	1,081,000	814,000	645,000	1,480,000	2,074,000	1,513,000	734,000	1,079,000	986,000	3,766,000	295,000	4,391,000	5,832,000	6,689,000	4,318,000	1,965,000	1,729,000	9,921,000	8,042,000	6,016,000	5,689,000	6,082,000	6,765,000	4,267,000	3,009,000	731,000	2,255,000	1,875,000	409,000	3,703,000	1,097,000	545,000		66,000	305,000	132,000
assets held for sale					20,125,000	84,723,000
due to related parties and partners			2,595,000	1,198,000	1,782,000	3,404,000	4,112,000	2,067,000	1,763,000	2,731,000	289,000	289,000	431,000	2,210,000	396,000	470,000			176,000	230,000	1,503,000	327,000	777,000	617,000	1,061,000	1,750,000	2,814,000	1,563,000					2,378,000		1,244,000	393,000	416,000	10,037,000
notes payable						28,021,000	29,915,000	30,039,000	14,325,000	19,391,000	21,300,000	21,298,000	19,882,000	25,263,000	25,075,000	23,186,000	22,891,000	357,000	357,000	357,000	6,908,000	37,967,000	714,000	714,000	714,000	38,167,000	1,193,000	1,193,000	1,193,000	1,550,000	1,671,000	52,286,000	1,886,000	2,243,000	2,364,000										4,500,000	6,570,000	6,570,000	6,570,000	6,570,000	6,856,000	7,132,000	7,697,000	8,458,000	9,695,000
loan participations sold				10,475,000	9,986,000	6,000,000	3,963,000													4,444,000	11,230,000	17,316,000	13,919,000	14,109,000	12,405,000	12,478,000	28,872,000
liabilities held for sale					419,000	41,505,000
total brc group holdings, inc. stockholders’ deficit		-171,533,000
total deficit		-120,262,000	-213,091,000	-309,303,000	-453,970,000
total liabilities and deficit		1,706,592,000	1,669,311,000	1,545,223,000	1,511,003,000
securities sold not yet purchased			22,375,000	12,347,000	2,140,000	5,675,000	2,450,000	4,765,000	6,423,000	8,601,000	7,120,000	2,686,000	7,806,000	5,897,000	17,751,000	5,403,000	7,498,000	28,623,000	419,211,000	272,088,000	288,058,000	10,105,000	48,125,000	9,804,000	14,298,000	41,820,000	29,092,000	42,754,000	35,948,000	37,623,000	59,672,000	17,583,000	19,736,000	28,291,000	25,046,000	3,526,000	1,659,000	846,000	370,000	5,932,000	953,000	713,000	6,481,000	8,057,000	956,000	746,000	2,811,000	6,489,000
brc group holdings, inc.
total registrant stockholders’ deficit			-260,460,000
securities and other investments owned (includes 172,135 and 215,225 at fair value as of june 30, 2025 and december 31, 2024, respectively				242,352,000
b. riley financial, inc. equity
total b. riley financial, inc. stockholders’ deficit				-351,706,000	-496,817,000
securities and other investments owned, at fair value						282,325,000	341,770,000	664,070,000	949,868,000	1,092,106,000	1,197,587,000	1,072,444,000	1,049,230,000	1,129,268,000	1,238,613,000	1,144,896,000	1,317,101,000	1,532,095,000	1,352,100,000	1,278,773,000	1,166,704,000	777,319,000	459,480,000	399,044,000	287,786,000	451,551,000	326,616,000	270,290,000	288,802,000	273,577,000	222,521,000	160,540,000	150,817,000	145,360,000	95,965,000	78,204,000	41,093,000
liabilities and equity /
b. riley financial, inc. stockholders’ equity
total b. riley financial, inc. stockholders’ equity						-488,175,000	-497,583,000	-218,336,000	228,449,000	291,117,000	413,781,000	402,520,000	381,185,000	446,514,000	513,613,000	487,909,000	654,364,000	661,271,000	706,695,000	724,169,000	731,997,000	512,586,000			235,035,000	360,660,000	298,852,000	276,468,000			268,384,000	263,422,000	271,543,000	266,030,000	274,684,000	239,018,000							111,167,000	112,494,000
accumulated other comprehensive income							-906,000	-4,887,000	-3,643,000																																					-648,000	-627,000	-658,000	-661,000	-638,000				-36,000	-247,000	-13,000	7,000
b. riley financial, inc. equity:
due to clearing brokers													6,033,000	19,307,000	3,942,000	24,695,000		69,398,000				13,672,000			5,126,000
redeemable noncontrolling interests in equity of subsidiaries													174,967,000	178,622,000	178,759,000	352,894,000	345,000,000	345,000,000	345,000,000
b. riley financial, inc. stockholders’ equity:
(accumulated deficit) retained earnings														-45,220,000											-70,232,000
deferred tax assets															2,845,000	5,287,000	2,867,000	2,848,000	4,085,000	4,080,000	2,765,000	4,098,000
deferred tax liabilities															10,932,000		51,174,000	93,055,000	67,023,000	90,325,000	101,270,000	34,248,000
retained earnings															46,916,000	32,570,000	205,765,000	248,862,000	309,550,000	338,260,000	352,910,000	203,080,000	43,938,000	5,927,000		39,536,000	41,957,000	22,424,000	7,468,000	1,579,000	14,842,000	20,408,000	10,882,000	6,582,000	15,956,000	19,054,000	18,888,000	9,887,000	2,210,000	-6,158,000	-6,057,000	-6,305,000		-2,523,000	-10,209,000	-12,891,000	-9,590,000	-8,722,000	-7,945,000	-6,611,000	-7,545,000	-7,911,000	-6,380,000	-10,051,000	-11,190,000	-12,318,000	-11,792,000	-9,886,000	-10,341,000	-3,734,000	-754,000	4,038,000
mandatorily redeemable noncontrolling interests																			4,196,000	4,105,000	4,514,000	4,700,000	4,462,000	4,351,000	4,508,000	4,616,000	4,395,000	4,224,000	4,529,000	4,633,000	4,409,000	4,238,000	4,536,000	4,478,000	12,830,000	9,641,000	3,850,000	4,019,000	2,764,000	2,512,000	2,754,000	2,994,000	2,921,000	2,617,000	3,023,000	2,922,000	2,823,000	2,998,000	2,613,000	2,823,000	2,832,000	2,650,000	2,535,000	2,817,000	3,408,000	3,167,000	2,858,000	2,926,000	2,661,000	2,667,000	2,619,000	2,422,000
advances against customer contracts																				200,000	200,000	200,000	900,000	1,413,000	11,121,000	27,347,000		5,322,000			21,405,000	200,036,000	7,695,000	5,208,000	5,298,000	40,991,000	1,474,000	427,000	5,020,000	5,609,000	200,000	5,013,000	2,789,000	3,146,000	5,762,000	16,303,000	175,000	175,000	195,000	1,058,000	1,548,000	283,000	2,218,000	2,813,000	5,276,000	5,164,000	3,063,000	806,000	5,563,000	211,000	58,000	8,000
term loan																					69,543,000	74,213,000	52,452,000	57,195,000	61,932,000	66,666,000	71,393,000	80,916,000	89,138,000	79,166,000
loans receivable, at cost
b. riley financial, inc. stockholders' equity:
total b. riley financial, inc. stockholders' equity																							373,859,000	310,009,000					263,367,000	258,058,000							161,051,000	149,347,000	142,503,000	133,324,000	110,188,000	109,438,000			104,321,000	97,061,000	89,239,000
loans receivable																										225,848,000	295,898,000	250,521,000	53,448,000	38,794,000	37,147,000
due to partners																													1,428,000	2,428,000	1,428,000	7,398,000		1,578,000
liabilities
asset based credit facility																																105,004,000				20,237,000									4,474,000	18,506,000				5,710,000									8,746,000
acquisition consideration payable																																					10,381,000	10,381,000	10,381,000
contingent consideration
current assets:
prepaid expenses and other current assets																																					3,592,000	3,578,000	4,543,000	8,507,000	2,993,000	2,415,000	1,351,000	1,229,000	1,200,000	3,795,000	1,453,000	1,578,000	1,516,000	948,000	1,237,000	1,572,000	1,608,000	1,175,000	1,110,000	1,718,000	1,353,000	894,000	955,000	1,768,000	981,000	2,538,000
total current assets																																					140,507,000	157,981,000	148,340,000	109,279,000	65,497,000	72,952,000	86,190,000	89,892,000	75,588,000	87,945,000	73,317,000	78,814,000	45,748,000	56,692,000	43,122,000	50,685,000	61,203,000	55,184,000	58,446,000	52,028,000	52,480,000	48,701,000	59,793,000	61,435,000	66,704,000	99,119,000
other assets																																					1,981,000	2,164,000	2,193,000	1,989,000	2,106,000	588,000	615,000	1,748,000	629,000	732,000	1,411,000	1,100,000	780,000	831,000	886,000	406,000	275,000	642,000	664,000	826,000	1,144,000	665,000	648,000	743,000	1,250,000	781,000
current liabilities:
accrued payroll and related expenses																																					6,159,000	15,738,000	9,404,000	3,084,000	3,294,000	7,178,000
accrued value added tax payable																																					169,000	6,371,000				1,785,000
income taxes payable																																					15,260,000	9,691,000
contingent consideration- current portion																																						1,242,000	1,219,000	1,196,000	1,172,000	1,241,000	1,218,000	1,195,000	1,172,000
total current liabilities																																					62,596,000	83,663,000	112,190,000	35,136,000	14,955,000	21,950,000	28,241,000	33,067,000	29,722,000	41,911,000	26,423,000	30,631,000	19,390,000	29,069,000	22,098,000	22,363,000	30,754,000	28,648,000	32,394,000	28,059,000	28,966,000	25,935,000	35,270,000	22,485,000	35,110,000	63,128,000
other liabilities																																					2,578,000	2,863,000	5,570,000
securities owned, at fair value																																						16,579,000	9,028,000	24,644,000	25,610,000	25,543,000	17,548,000	13,682,000	10,614,000	17,955,000	16,164,000	2,985,000
goods held for sale or auction																																							9,145,000	36,000	36,000	37,000	39,000	39,000	2,022,000	4,117,000	3,152,000	4,906,000	4,906,000	13,964,000	5,430,000	11,553,000	10,239,000	10,626,000	12,934,000	12,896,000	13,504,000	13,995,000	13,956,000	14,929,000	15,014,000	16,551,000
contingent consideration, net of current portion																																										1,150,000	1,129,000	1,107,000	1,086,000
accrued value added tax																																							900,000	34,000	2,000
auction and liquidation proceeds payable																																								15,959,000						665,000	1,220,000				34,000	15,000	246,000	612,000	18,000	5,883,000	1,712,000	4,021,000	683,000	1,135,000	446,000	3,549,000
due to related parties																																										166,000				213,000				45,000
participating note payable																																							60,822,000
revolving credit facilities
accounts payable and accrued liabilities																																											17,551,000	21,071,000	13,717,000	12,233,000	12,574,000	12,137,000	9,118,000	11,578,000	9,120,000	8,715,000	16,058,000	12,514,000	13,718,000	5,553,000	10,631,000	5,534,000	9,726,000	5,229,000	9,192,000	10,209,000
and 15,968,607 issued and outstanding as of september 30, 2015 and december 31,
2014, respectively																																											2,000
and 15,968,607 issued and outstanding as of march 31, 2015 and december 31, 2014, respectively																																													2,000
lease finance receivable																																															7,992,000	7,992,000	7,992,000	8,099,000
note receivable related party - current portion																																																		703,000	686,000
note receivable related party - net of current portion																																																		497,000
current portion of long-term debt																																																1,085,000	1,085,000	1,724,000	1,724,000	1,724,000	1,724,000	1,724,000	1,724,000	1,724,000	1,724,000	1,724,000	1,724,000	1,724,000	11,123,000	11,322,000
long-term debt																																																	48,759,000	48,759,000	48,759,000	50,483,000	50,483,000	50,483,000	52,207,000	52,169,000	52,169,000	52,169,000	53,893,000	53,893,000	44,494,000	44,494,000
b. riley financial, inc. stockholders' equity
great american group, inc. stockholders' equity
total great american group, inc. stockholders' equity																																																90,076,000	-5,520,000	-4,163,000	-5,268,000	-5,571,000	-4,169,000	-7,001,000
inventory																																																				1,968,000	2,638,000	2,686,000
current portion of capital lease obligation																																																					5,000	20,000	29,000	27,000	27,000	25,000	25,000	25,000	25,000	161,000
lease finance receivable - current portion																																																			3,829,000
due from related party																																																			18,000		373,000
note receivable related party, net of current portion																																																			645,000
lease finance receivable, net of current portion																																																			4,506,000
and outstanding as of september 30, 2013 and december 31, 2012, respectively																																																			4,000
note receivable - related party																																																				377,000	415,000	680,000		3,224,000		6,246,000	2,706,000	2,706,000
due to related party																																																				46,000
outstanding as of june 30, 2013 and december 31, 2012, respectively																																																				4,000
loan receivable																																																						537,000	8,306,000
capital lease obligation, net of current portion																																																							13,000	35,000	42,000	51,000	57,000	63,000	69,000	104,000
note receivable - related parties																																																							3,844,000		5,930,000
liabilities and stockholders' equity
note payable																																																							11,555,000	11,705,000	12,014,000	11,705,000	11,705,000	11,705,000	11,705,000	12,452,000
stockholders' equity
30,559,036 issued and outstanding as of december 31, 2011 and 2010,
respectively																																																							4,000
total stockholders' equity																																																							-8,256,000
total liabilities and stockholders' equity																																																							76,358,000
liabilities and stockholders’ equity
stockholders’ equity
total stockholders’ equity																																																								-9,181,000	-8,903,000	-7,961,000	-9,217,000	-3,610,000	-1,000,000	1,728,000
total liabilities and stockholders’ equity																																																								71,082,000	72,274,000	70,194,000	80,003,000	72,831,000	78,673,000	109,454,000
income taxes receivable																																																											851,000	1,100,000	1,100,000
accrued compensation plans
deferred compensation
warrant redemption liability																																																														23,013,000
stockholders’ equity:

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31

cash flows from operating activities:
net income	222,159,000	90,300,000	95,553,000					-433,781,000	-47,954,000			43,781,000	16,560,000	-63,455,000	52,645,000	-136,588,000	-9,196,000	67,446,000	51,658,000	75,100,000	256,598,000	171,845,000	48,892,000	82,529,000	-99,249,000	17,516,000	34,144,000	22,309,000	7,979,000	-8,965,000	2,722,000	17,801,000	4,842,000	-5,451,000	122,000	3,363,000	13,901,000	23,009,000	8,374,000	-27,000	1,370,000	14,623,000	12,005,000	3,436,000				-1,070,000	1,000,000	236,000	-1,595,000	935,000		-1,906,000	455,000	-6,607,000	-2,980,000	-4,542,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	7,589,000	7,942,000	8,434,000	8,708,000	10,090,000	11,278,000	11,191,000	11,799,000	11,137,000		12,491,000	12,534,000	13,077,000	13,443,000	10,717,000	7,961,000	7,848,000	6,805,000	6,142,000	6,165,000	6,759,000	4,604,000	4,886,000	4,923,000	4,956,000	4,831,000	4,473,000	4,831,000	4,913,000	4,041,000	3,098,000	3,333,000	3,337,000	3,435,000	3,415,000	2,248,000	2,042,000	1,925,000	1,982,000	196,000	203,000	634,000	421,000	195,000	195,000	187,000	133,000	131,000	146,000	320,000	690,000	707,000	221,000	212,000	205,000	195,000	180,000	169,000
provision for losses on accounts receivable	356,000	1,432,000	975,000	-451,000	2,065,000
share-based compensation	2,440,000	2,956,000	2,412,000	5,043,000	3,563,000	1,460,000	2,729,000	6,183,000	8,682,000		11,026,000	10,492,000	13,746,000	15,312,000	14,613,000	14,202,000	17,013,000	12,503,000	9,374,000	8,608,000	5,526,000	4,321,000	4,778,000	4,167,000	5,322,000	5,640,000	4,728,000	2,934,000	2,614,000	4,392,000	3,091,000	3,001,000	2,558,000	2,662,000	3,739,000
fair value and remeasurement adjustments	-1,865,000
non-cash interest and other	1,585,000	1,748,000	2,619,000	2,071,000	4,513,000	3,048,000	-22,982,000	-664,000	-2,661,000		-4,323,000	-3,976,000	-1,141,000	2,188,000	-4,155,000	2,359,000	-3,596,000	-6,580,000	-6,651,000	-4,716,000	-4,375,000	-3,909,000	-5,958,000	-4,116,000	-2,827,000	2,674,000	-11,797,000	-3,880,000	736,000	2,684,000	-486,000	1,684,000	186,000	137,000	153,000	151,000	15,000
depreciation of rental merchandise	3,123,000	3,170,000	3,200,000	3,311,000	3,387,000	3,374,000	3,497,000	4,019,000	4,202,000
net foreign currency losses	22,000			-257,000	-224,000
loss from equity investments	-1,326,000				552,000				4,000													478,000	-409,000
dividends from equity investments	137,000	208,000	67,000	63,000	59,000	48,000	37,000	37,000	37,000		69,000	0	129,000		583,000	1,134,000	774,000	763,000	763,000	305,000	305,000						600,000	421,000	433,000
deferred income taxes	-20,000	2,318,000	64,000	143,000	8,957,000	5,433,000	19,010,000	17,457,000	-16,012,000		-39,910,000	12,709,000	5,807,000	1,401,000	13,510,000	-53,442,000	-41,900,000	33,220,000	-22,692,000	-11,454,000	62,696,000	44,307,000	31,652,000	-10,086,000	-4,254,000	4,516,000	-72,000	6,820,000	-390,000	1,983,000	0			30,289,000	-924,000	-14,512,000	-9,124,000	1,710,000	1,568,000	119,000	152,000	5,451,000	5,499,000	1,710,000	-1,119,000	-455,000	-595,000	-815,000	1,067,000	-117,000	-968,000	1,007,000	701,000	-161,000	874,000	-4,263,000	-1,572,000	-4,054,000
loss on sale or disposal of fixed assets and other	11,000	277,000	-151,000	203,000	-1,350,000
gain on sale and deconsolidation of businesses		0	0	-5,372,000	-80,841,000
loss on extinguishment of debt	-2,890,000	-345,000			10,427,000	13,378,000
gain on senior note exchange		0	-12,222,000	-44,454,000	-10,532,000
change in operating assets and liabilities:
amounts due to/from clearing brokers	7,564,000	97,290,000	-102,910,000	-32,486,000	17,818,000	1,155,000	9,044,000	-37,000	10,460,000		-3,288,000	-9,177,000	16,318,000	20,099,000	-23,627,000	14,447,000	-80,091,000
securities and other investments owned	-192,825,000	-131,377,000	-73,115,000	-10,090,000	49,216,000	60,336,000	160,844,000	285,797,000	192,639,000		-115,363,000	-22,963,000	95,037,000	95,224,000	-94,736,000	174,174,000	215,973,000	-179,996,000	-85,608,000	-80,677,000	-235,504,000	-294,900,000	-56,868,000	-105,052,000	125,061,000	-120,300,000	-48,752,000	18,512,000	-15,225,000	-51,056,000	-61,981,000	-9,723,000	-5,457,000	-40,793,000	-375,000	-16,461,000	-24,514,000
securities borrowed	-18,501,000	-8,160,000	-34,457,000	-31,425,000	2,127,000	20,982,000	678,936,000	1,307,139,000	820,860,000		156,521,000	4,322,000	-599,516,000	-100,021,000	170,768,000	-784,301,000	461,193,000	-743,310,000	-207,634,000	173,613,000	-548,178,000	-89,035,000	109,941,000	-112,201,000	140,168,000	-94,124,000	39,714,000	67,321,000	104,104,000	110,949,000	-28,307,000	-152,896,000	-54,003,000	-82,403,000	178,132,000
accounts receivable	-12,211,000	6,551,000	-3,304,000	-9,000	3,551,000	-5,008,000	7,997,000	7,980,000	-8,739,000		-12,260,000	1,298,000	25,083,000																-2,845,000
prepaid expenses and other assets	7,224,000	-5,089,000	2,800,000	1,249,000	5,479,000	3,009,000	19,242,000	10,550,000	-6,761,000		15,116,000	11,871,000	-25,705,000	-3,585,000	-38,090,000	-14,299,000	1,701,000	14,653,000	7,480,000	-20,241,000	-5,629,000	7,930,000	16,200,000	17,444,000	-37,151,000	19,207,000	35,881,000	-41,794,000	-3,706,000	-4,977,000	-3,310,000	-74,000	-16,034,000	-17,241,000	534,000	14,746,000	242,000	2,252,000	9,056,000	-5,586,000	-2,060,000	9,000	-1,414,000	95,000	616,000	-216,000	-75,000	-384,000	547,000	-396,000	71,000	-55,000	186,000	2,550,000	43,000	909,000	-280,000	1,089,000
accounts payable, accrued expenses and other liabilities	-8,668,000	-26,031,000	15,074,000	-4,704,000	-8,961,000														36,638,000	-53,488,000	30,505,000		-11,035,000	22,835,000	-22,097,000
amounts due to/from related parties and partners		-2,393,000	1,380,000	-331,000	-1,959,000	-681,000	1,592,000	-1,273,000	-888,000	190,000	274,000	-439,000	-1,070,000	1,547,000	502,000	1,282,000	594,000	-737,000	-833,000	-928,000	1,083,000	2,330,000	-3,311,000	3,652,000	752,000	-207,000	-1,120,000	-2,218,000	-1,236,000	9,192,000	-7,849,000	2,889,000	473,000
securities sold not yet purchased	7,024,000	-12,566,000	10,028,000	10,207,000	-3,535,000
deferred revenue	-1,176,000	-2,076,000	-1,517,000	-3,752,000	-857,000	-2,560,000	-3,451,000	-3,314,000	-2,668,000	-3,291,000	-3,259,000	-6,933,000	-1,749,000	-3,599,000	5,997,000	1,644,000	4,924,000	-95,000	-287,000	-116,000	-3,042,000	-1,914,000	-452,000	-2,693,000	6,589,000	-2,596,000	288,000	-1,683,000	893,000	-628,000	-395,000	81,000	378,000	634,000	-877,000	-110,000	-315,000
securities loaned	18,321,000	8,156,000	34,577,000	31,601,000	-5,199,000	-26,872,000	-678,738,000	-1,307,617,000	-818,137,000	86,516,000	-156,475,000	-8,717,000	603,951,000	94,781,000	-174,951,000	795,069,000	-469,553,000	742,860,000	211,466,000	-172,710,000	547,259,000	92,701,000	-111,905,000	108,155,000	-139,636,000	95,549,000	-44,162,000	-65,724,000	-105,689,000	-104,886,000	23,168,000	157,517,000	51,352,000	75,170,000	-183,790,000
net cash from operating activities	38,073,000	26,221,000	-60,557,000	-25,559,000	184,000	-2,743,000	19,455,000	111,482,000	135,357,000	65,459,000	-118,062,000	24,488,000	52,617,000	79,467,000	-22,915,000	-35,001,000	-14,898,000	217,546,000	-18,751,000	-105,007,000	-42,894,000	-29,208,000	73,465,000	12,977,000	455,000	-76,615,000	44,785,000	-7,486,000	8,924,000	-25,919,000	129,871,000	-154,711,000	-54,055,000	-33,011,000	34,041,000	-43,965,000	-38,855,000	52,354,000	17,611,000	11,360,000	-1,045,000	43,994,000	36,816,000	17,342,000	-17,245,000	-11,655,000	578,000	5,292,000	-454,000	-2,104,000	-7,584,000	7,650,000	-162,000	834,000	7,154,000	-7,983,000	-6,088,000	-7,250,000
capital expenditures	-987,000	-1,034,000	-1,135,000	-2,475,000	-6,673,000	-1,227,000	-1,284,000	-4,528,000	-913,000	-1,929,000	-1,025,000	-3,061,000	-1,696,000	-2,533,000	-489,000	-720,000	-176,000	0	-264,000	-187,000	-101,000	0	-666,000	-413,000	-438,000	-576,000	-371,000	0	-1,746,000	-3,118,000	-478,000	0	-693,000	-275,000	-244,000	-115,000	-191,000	-432,000	-239,000	-40,000	-18,000	-196,000	-171,000	-129,000	-109,000	-101,000	-6,000	-36,000	-170,000	-266,000	-459,000	-247,000	-39,000	-66,000	-156,000	-254,000	-116,000	-162,000
free cash flows	37,086,000	25,187,000	-61,692,000	-28,034,000	-6,489,000	-3,970,000	18,171,000	106,954,000	134,444,000	63,530,000	-119,087,000	21,427,000	50,921,000	76,934,000	-23,404,000	-35,721,000	-15,074,000	217,546,000	-19,015,000	-105,194,000	-42,995,000	-29,208,000	72,799,000	12,564,000	17,000	-77,191,000	44,414,000	-7,486,000	7,178,000	-29,037,000	129,393,000	-154,711,000	-54,748,000	-33,286,000	33,797,000	-44,080,000	-39,046,000	51,922,000	17,372,000	11,320,000	-1,063,000	43,798,000	36,645,000	17,213,000	-17,354,000	-11,756,000	572,000	5,256,000	-624,000	-2,370,000	-8,043,000	7,403,000	-201,000	768,000	6,998,000	-8,237,000	-6,204,000	-7,412,000
cash flows from investing activities:
purchases of loans receivable	-20,115,000	-11,500,000	-47,605,000	-5,122,000	-61,528,000	-38,808,000	-16,710,000	-20,300,000	-42,903,000	-139,598,000	-45,402,000	-47,987,000	-311,970,000	-81,428,000	-222,609,000	-105,256,000	-93,853,000	-552,592,000	-99,008,000	-11,640,000	-75,669,000	-38,366,000	-16,872,000	-36,900,000	-115,328,000	6,884,000	-125,623,000	-204,918,000	-20,154,000	-3,683,000
repayments of loans receivable	28,505,000	45,783,000	32,366,000	58,621,000	46,757,000	43,716,000	32,958,000	32,880,000	39,493,000	63,083,000	130,216,000	152,830,000	260,587,000	166,200,000	166,959,000	140,695,000	101,000,000	39,577,000	37,020,000	8,046,000	87,476,000	14,101,000	1,532,000	32,322,000	42,128,000	60,444,000	81,102,000
proceeds from sale of loans receivable		0
proceeds from loan participations sold		0	0	489,000	3,986,000	1,980,000																4,500,000	0
proceeds from sale of business, net of cash sold and other		0	0
purchases of property, equipment, and intangible assets	-987,000
proceeds from sale of property, equipment, intangible assets, and other		1,000	414,000	13,000	7,160,000							147,000	1,364,000
distributions from equity investments	930,000	2,305,000
purchases of equity and other investments		0	0	0	-6,621,000
consolidation of vie		0	0	0	359,000
net cash from investing activities	8,333,000	35,555,000	-13,293,000	230,039,000	59,181,000	415,005,000	18,825,000	-11,574,000	18,278,000	-11,780,000	96,635,000	273,483,000	-57,164,000	-74,037,000	41,223,000	36,036,000	-35,513,000	-539,872,000	-402,940,000	-14,384,000	662,000	-29,900,000	-15,989,000	-11,065,000	-71,492,000	-43,952,000	-23,868,000	-201,063,000	-26,513,000	-104,892,000	-42,870,000	589,000	-4,268,000	-10,706,000	-30,271,000	4,235,000	3,120,000		-99,789,000	-12,065,000	-19,000	4,890,000		-20,573,000	-4,189,000	-3,370,000	3,683,000	209,000	1,244,000	-1,973,000	-1,431,000	7,642,000	2,508,000	-465,000	-1,680,000	-2,149,000	-2,363,000	24,335,000
cash flows from financing activities:
proceeds from revolving line of credit	41,312,000	46,375,000	39,691,000	24,839,000	21,535,000	25,173,000	23,790,000	22,573,000	17,738,000	27,892,000	129,235,000	33,009,000	29,021,000					0																								14,000
repayment of revolving line of credit	-37,242,000	-49,904,000	-41,600,000	-26,563,000	-24,064,000	-22,525,000	-29,917,000	-24,961,000	-39,343,000	-41,337,000	-182,863,000	-61,597,000	-17,237,000	-11,900,000																																		-329,000				-576,000
proceeds from note payable		0	0	0	850,000	0	0
repayment of notes payable and other	-297,000	-303,000	-299,000	-304,000	-12,834,000	-497,000	-466,000	-329,000	-5,361,000
repayment of term loans	-4,000,000
proceeds from term loans
redemption of senior notes	-95,991,000	0	0	0	-145,302,000	0	0	-24,999,000	-115,492,000	0	0							-116,883,000	-262,309,000	0	-128,156,000	0	0	0	-1,829,000
proceeds from senior notes held at redemption	5,397,000
repurchases and payments on senior notes	-4,035,000
payment of debt issuance and offering costs	-32,000	-89,000	-1,954,000	-2,311,000	-8,942,000	0	-2,500,000	-793,000	-191,000	-805,000	-23,983,000	-1,248,000	-1,957,000	-6,867,000	-905,000
payment of contingent consideration		0	-48,000	-1,328,000	-48,000	-5,526,000	-5,989,000	-1,336,000	-70,000	-21,000	-545,000	-37,000	-1,302,000		-223,000	-270,000	-181,000																		0	0	-1,250,000		0	0	-1,250,000
payment of employment taxes on vesting of shares in equity of subsidiary	-1,902,000
net cash from financing activities	-96,790,000	-18,383,000	-8,565,000	-79,895,000	-172,529,000	-317,225,000	-111,196,000	-52,593,000	-190,933,000	-80,464,000	171,336,000	-401,458,000	-55,337,000	26,459,000	1,609,000	4,010,000	-14,441,000	221,681,000	503,313,000	171,838,000	184,213,000	-8,045,000	5,774,000	-20,517,000	92,332,000	53,992,000	92,117,000	95,826,000	8,241,000	76,767,000	-44,059,000	248,338,000	3,813,000	75,375,000	-7,032,000	72,592,000	-6,841,000	-39,982,000	60,590,000	21,983,000	-2,187,000	-24,554,000	-20,834,000	-8,009,000	17,358,000	-2,264,000	21,882,000	-7,507,000	3,794,000	-2,895,000	-1,608,000	-2,366,000	-526,000	-1,294,000	-10,948,000	8,328,000	-1,241,000	-25,935,000
decrease in cash, cash equivalents and restricted cash	-50,384,000				-113,164,000				-37,298,000		149,909,000	-103,487,000	-59,884,000																-9,348,000				-54,510,000
effect of foreign currency on cash, cash equivalents and restricted cash	-871,000	385,000	-729,000	1,011,000	-465,000	-8,209,000	4,141,000	-1,271,000	-3,962,000	6,276,000	-5,463,000	1,067,000	1,280,000	5,654,000	-3,560,000	-2,531,000	-496,000	1,373,000	-1,221,000	162,000	-696,000	904,000	1,112,000	627,000	-1,332,000	256,000	-220,000	14,000	23,000	-64,000	-297,000	-185,000	-314,000
net decrease in cash, cash equivalents and restricted cash	-51,255,000				-113,629,000				-41,260,000		144,446,000	-102,420,000	-58,604,000																-9,325,000				-54,824,000
cash, cash equivalents and restricted cash from continuing operations, beginning of period	229,277,000		0	0	248,651,000	0
cash, cash equivalents and restricted cash from discontinued operations, beginning of period			0	0	8,025,000	0
cash, cash equivalents and restricted cash, beginning of period	229,277,000		0	0	256,676,000			0	233,839,000		0	0	270,926,000		0	0	279,860,000		0	0	104,837,000		0	0	104,739,000
cash, cash equivalents and restricted cash from continuing operations, end of period	178,022,000		-83,144,000	128,965,000	139,678,000	96,063,000
cash, cash equivalents and restricted cash from discontinued operations, end of period					3,369,000
cash, cash equivalents and restricted cash, end of period	178,022,000		-83,144,000	125,596,000	143,047,000			46,044,000	192,579,000		144,446,000	-102,420,000	212,322,000		16,357,000	2,514,000	214,512,000		80,401,000	52,609,000	246,122,000		64,362,000	-17,978,000	124,702,000		112,814,000	-112,709,000	170,953,000		42,645,000	94,031,000	97,710,000
supplemental disclosure of cash flow information:
interest paid	20,191,000		20,950,000	26,029,000	28,982,000	34,239,000	52,691,000	70,993,000	81,737,000	83,435,000	76,354,000	74,097,000	81,423,000	60,028,000	50,257,000	44,830,000	38,272,000	37,372,000	34,638,000	29,634,000	36,725,000	23,364,000	29,297,000	24,149,000	21,785,000	22,694,000	21,327,000	14,169,000	17,435,000	14,814,000	13,421,000	12,860,000	9,008,000	7,327,000	8,623,000	1,504,000	1,386,000	-129,000	253,000	245,000	7,000	303,000	413,000	227,000		282,000	449,000	658,000		722,000	1,095,000	57,000	122,000		784,000	680,000	1,670,000
taxes paid	575,000		749,000	1,207,000	932,000	1,312,000	2,011,000	2,375,000	1,432,000	12,323,000	1,758,000	3,108,000	2,932,000	3,967,000	47,000	45,270,000	73,000	296,000	23,870,000	63,934,000	53,000	908,000	852,000	34,000	574,000	3,620,000	4,138,000	699,000	192,000	4,042,000	149,000	2,170,000	136,000	3,318,000	1,979,000	9,618,000	71,000		0	40,000	369,000	976,000	695,000	28,000		0	0	2,000		0	12,000	163,000
net foreign currency gains		-3,000
income from equity investments		-752,000	-9,193,000												91,000	3,399,000	-6,775,000								236,000				3,762,000				672,000
impairment of goodwill and tradenames		0	0				0
gain on disposal of discontinued operations
income allocated and fair value adjustment for mandatorily redeemable noncontrolling interests							631,000	492,000	293,000		557,000	470,000	308,000	327,000	356,000	221,000	215,000									363,000	411,000	277,000	169,000	375,000	304,000			33,000	3,498,000	6,866,000	402,000
acquisition of businesses and minority interest, net of — and 604 cash acquired
purchases of property, equipment and intangible assets		-1,034,000	-1,135,000	-2,475,000	-6,673,000	-1,227,000	-1,284,000	-4,528,000	-913,000	-1,929,000	-1,025,000	-3,061,000	-1,696,000	-2,533,000	-489,000	-720,000	-176,000									-576,000	-371,000
proceeds from sale of discontinued operations, net of (3,344) cash sold
sale of great american group
sale of brands interests, net of (585) cash sold
proceeds from term loan		0	0	0	235,550,000					0	500,000,000	0	128,187,000	48,500,000	200,700,000			100,000,000	0							0	0	0	10,000,000
repayment of term loan		-4,000,000	-4,000,000	-70,979,000	-239,274,000	-306,196,000	-92,968,000	-15,570,000	-30,036,000	-16,557,000	-331,420,000	-99,902,000	-72,924,000	-35,349,000	-6,563,000	-50,200,000	-4,116,000	-4,600,000	-4,600,000	-6,734,000	-4,750,000	-52,837,000	-4,809,000	-4,810,000	-4,810,000	-4,810,000	-9,619,000
espp and payment of employment taxes on vesting of restricted stock						-82,000	0			1,028,000	-277,000
common dividends paid						-104,000	0	-17,613,000	-16,014,000	-30,140,000	-30,611,000	-33,492,000	-46,856,000	-29,103,000	-28,312,000	-34,153,000	-27,886,000	-110,581,000	-55,285,000	-86,086,000	-95,183,000	-12,970,000	-8,333,000	-7,880,000	-9,609,000
preferred dividends paid						-2,015,000	-2,015,000	-2,015,000	-2,015,000	-2,015,000	-2,015,000	-2,015,000	-2,012,000	-2,002,000	-2,002,000	-2,002,000	-2,002,000	-1,990,000	-1,929,000	-1,789,000	-1,749,000	-1,480,000	-1,088,000	-1,087,000	-1,055,000
distributions to noncontrolling interests		-679,000													-994,000
contributions from noncontrolling interests						734,000	256,000	455,000	2,502,000	1,743,000	302,000			9,746,000	2,823,000
proceeds from exercise of warrants						0	0
increase in cash, cash equivalents and restricted cash														31,889,000	19,917,000	5,045,000	-64,852,000	-100,645,000	81,622,000	52,447,000	141,981,000	-67,153,000	63,250,000	-18,605,000	21,295,000	-66,575,000	113,034,000			-54,044,000	42,942,000
net increase in cash, cash equivalents and restricted cash														37,543,000	16,357,000	2,514,000	-65,348,000	-99,272,000	80,401,000	52,609,000	141,285,000	-66,249,000	64,362,000	-17,978,000	19,963,000	-66,319,000	112,814,000			-54,108,000	42,645,000
cash, cash equivalents and restricted cash from continuing operations, beginning of year
cash, cash equivalents and restricted cash from discontinued operations, beginning of year
cash, cash equivalents and restricted cash, beginning of year						0																				0	0	0	180,278,000	0	0	0	152,534,000
cash, cash equivalents and restricted cash from continuing operations, end of year
cash, cash equivalents and restricted cash from discontinued operations, end of year
cash, cash equivalents and restricted cash, end of year						86,828,000
fair value and remeasurement adjustments, non-cash			-1,832,000	-15,194,000	8,405,000	66,273,000	71,850,000	175,856,000	13,651,000
loss on disposal of discontinued operations
acquisition of businesses and minority interest, net of — and 604 cash acquired for 2025 and 2024, respectively
proceeds from sale of discontinued operations, net of 3,344 and — cash sold for 2025 and 2024, respectively
supplemental disclosures
gain on extinguishment of debt																		1,243,000	3,969,000	0	919,000	0	0	0	-1,556,000
proceeds from sales of loans receivable
distributions from equity investment
proceeds from sale of discontinued operations, net of cash sold
payment of employment taxes on vesting of restricted stock									-1,170,000				-4,819,000		-293,000	-5,146,000	-1,294,000	920,000	-170,000	-10,348,000	-22,000	-19,628,000	-272,000	-2,173,000	-505,000	604,000	-335,000	-1,577,000	-714,000		-536,000	-2,445,000	-1,125,000	-803,000	-1,626,000							-24,000											-90,000	0	-184,000	0	-948,000
distribution to noncontrolling interests							-1,387,000	-1,692,000	-1,481,000	-2,508,000	-1,477,000	-1,512,000	-1,023,000				-1,051,000	-800,000	-950,000	-3,221,000	-11,571,000	-813,000	-870,000	-820,000	-1,323,000	-863,000	-239,000	-582,000	-274,000	-152,000	-133,000	-665,000	-117,000	-8,383,000	-1,232,000	-1,075,000	-571,000		-239,000	-776,000	-665,000					-245,000	-706,000	-543,000		-346,000	-630,000	-612,000	-429,000	-535,000	-288,000	-412,000	-287,000	-201,000
net loss					-16,567,000	-5,606,000																																								-916,000							-526,000
adjustments to reconcile net loss to net cash from operating activities:
sales of loans receivable					6,840,000
sale of business, net of cash sold and other					68,901,000		393,000	49,000	-184,000
provision for credit losses						3,495,000	1,322,000	740,000	436,000																																-20,000	366,000	255,000	60,000		133,000
effect of foreign currency on operations						50,000	-644,000	76,000	271,000		910,000	-495,000	271,000	-2,403,000	2,859,000	332,000	-34,000	1,454,000	159,000	-760,000	-726,000	142,000	-529,000	-252,000	179,000	-86,000	-331,000	209,000	130,000	-564,000	230,000	-534,000	-48,000	253,000	-167,000	312,000	-1,167,000	333,000				-363,000	5,000	39,000	59,000	122,000	168,000	-212,000	515,000	-117,000	-108,000	-64,000	-22,000
loss from equity method investments
impairment of goodwill and other intangible assets
loss on sale of business, disposal of fixed assets, and other
gain on bargain purchase
gain on equity investment															0			0	0	0	-3,544,000
de-consolidation of brpm 150														0
income allocated to and fair value adjustment for mandatorily redeemable noncontrolling interests
accounts payable, accrued payroll and related expenses, accrued expenses and other liabilities						20,457,000	-17,637,000	4,174,000	-21,114,000	-49,824,000	44,161,000	-6,649,000	-67,536,000	-13,300,000	10,577,000	-55,643,000	-82,962,000									1,080,000	30,330,000
securities sold, not yet purchased						3,225,000	-2,315,000	-1,658,000	-2,178,000	1,481,000	4,434,000	-5,120,000	1,909,000	-11,853,000	12,347,000	-2,095,000	-21,125,000	-390,587,000	147,122,000	-15,970,000	277,446,000	-38,019,000	38,321,000	-4,495,000	-27,522,000	12,728,000	-13,662,000	6,806,000	-1,675,000	-22,049,000	42,089,000	-2,153,000	-8,555,000	-22,000	5,025,000	1,862,000	813,000		-5,562,000	4,980,000	239,000	5,735,000	7,311,000	210,000		-3,707,000
acquisition of businesses and minority interest, net of 604, 8,308, and 50,733 cash acquired in 2024, 2023, and 2022, respectively
proceeds from sale of business and other
sale of brands interests, net of (585) cash sold in 2024
funds received from trust account of subsidiary										0	0			0
proceeds from issuance of senior notes										0	0			386,000	15,341,000	15,837,000	20,037,000	358,515,000	414,870,000	73,294,000	402,404,000	15,379,000	339,000	0	171,078,000	37,427,000	120,562,000	118,948,000	4,987,000	3,707,000	123,167,000	124,856,000	7,267,000	90,141,000	31,483,000
repurchase of common stock										-15,791,000	115,000	0	-53,803,000	-6,489,000				0				-9,900,000	-10,569,000	-3,711,000	-24,068,000	0	-1,021,000	-602,000	-2,650,000	-1,365,000	0
redemption of subsidiary temporary equity and distributions										0	0			0
proceeds from issuance of common stock										0									0	0	64,713,000																	-240,000	0						0	-7,000
proceeds from issuance of preferred stock										0	0	0	467,000		0	0	639,000		5,716,000				31,377,000	0	4,630,000
supplemental disclosures:
gain on sale of business, disposal of fixed assets, and other							-496,000
sale of loans receivable							0	0	22,785,000
acquisition of businesses and minority interest, net of 604 and 772 cash acquired for 2024 and 2023, respectively
purchase of equity and other investments							-532,000				0	-4,209,000	-662,000		0	-347,000	-2,439,000
acquisition of businesses and minority interest, net of 604 and 234 cash acquired for 2024 and 2023, respectively
loss on sale of business and disposal of fixed assets									-203,000
acquisition of businesses and minority interest, net of 234 cash acquired for 2023
repayment of loan participations sold																		0	-4,444,000	-4,686,000	-6,086,000	-1,102,000	-191,000	-696,000	-244,000	-15,736,000
acquisition of businesses and minority interest, net of 8,308, 50,733, and 34,942 cash acquired in 2023, 2022, and 2021, respectively
investment of subsidiaries initial public offering proceeds into trust account																		0
proceeds from initial public offering of subsidiaries																		0
provision for doubtful accounts																						947,000	357,000
gain on extinguishment of loan															0	0	-1,102,000
sale of loan receivable											0	0	7,500,000
acquisition of businesses and minority interest, net of 772 and 32,135 cash acquired for 2023 and 2022, respectively
proceeds from sales of property, equipment, intangible assets and other
repayment of notes payable											-125,000	-218,000	-11,510,000	-121,000	-52,000	0	-357,000	0	0	0	-37,610,000	0	0	0	-357,000	-121,000	0	0	-357,000	-122,000	-51,234,000	0	-357,000	-122,000
benefit from doubtful accounts												629,000	3,173,000	1,428,000	1,510,000	871,000	405,000	205,000	493,000	353,000	402,000				724,000	480,000			233,000	468,000	192,000	343,000	305,000																								19,000
fair value adjustments, non-cash												-10,584,000	-46,050,000		19,823,000	2,244,000	-15,816,000	3,166,000	-682,000	680,000	-10,726,000	199,000	-220,000	4,049,000	17,926,000
impairment of intangibles, loss on disposal of fixed assets, and other
acquisition of businesses and minority interest, net of 234 and 27,740 cash acquired for 2023 and 2022, respectively
loss (income) from equity investments													10,000													-2,618,000
loss on loans receivable and disposal of fixed assets													5,000				257,000
acquisition of businesses and minority interest, net of 234 and 26,076 cash acquired for 2023 and 2022, respectively													-12,287,000
contribution from noncontrolling interests													431,000				1,770,000		2,082,000	6,928,000	3,722,000
fair value adjustments
(income) income from equity method investments
dividends from equity method investments
impairment of leaseholds and intangibles, lease loss accrual, and gain on disposal of fixed assets
change in fair value of financial instruments and other
(gain) loss on extinguishment of debt
gain on equity method investment
accounts receivable and advances against customer contracts														2,666,000	-1,375,000	-1,047,000	6,355,000	-7,746,000	6,223,000	4,693,000	-3,885,000	-848,000	-2,265,000	11,927,000	15,674,000	-25,282,000	13,775,000			23,034,000	172,676,000	-200,580,000	-8,078,000	-21,000	38,788,000	-36,806,000	-347,000	24,000	-2,958,000	-5,355,000	6,442,000	13,177,000	-439,000	5,772,000	-15,085,000	2,511,000	-2,206,000	-415,000	1,447,000	-3,698,000	65,000	7,331,000	-1,026,000	-3,082,000	4,395,000	-4,916,000	79,000	-128,000
sale of loan receivable to related party																						0	0	0	1,800,000
acquisition of businesses, net of 50,733 and 34,942 cash acquired in 2022 and 2021, respectfully
proceeds from sale of property, equipment and intangible assets														0	0	0	2,000	11,000				0	0	0	1,000	9,000	1,000	491,000	12,000
purchases of equity method investments
repayment of asset based credit facility																						0	0	0	-37,096,000					0	-105,540,000			0	-20,237,000			0				-18,506,000	-18,506,000	-14,032,000		0	0	-5,710,000
payment of participating note payable and contingent consideration
payment for contingent consideration																			-1,149,000	-336,000	-75,000
proceeds from offering common stock
proceeds from offering preferred stock
impairment of intangibles and gain on disposal of fixed assets
acquisition of businesses, net of 32,135 and 34,924 cash acquired for 2022 and 2021, respectively
loss on disposal of fixed assets																																										7,000
acquisition of businesses, net of 27,740 and 34,924 cash acquired for 2022 and 2021, respectively
acquisition of businesses, net of 26,076 and 34,924 cash acquired for 2022 and 2021, respectively																	-40,047,000
(income) income from equity investments																		-1,629,000	-1,149,000	852,000	-875,000									-2,937,000
impairment of leaseholds and intangibles, lease loss accrual and gain on disposal of fixed assets																										41,000	17,000
gain on extinguishment of loans																		0	0
asset acquisition - br brand, net of cash acquired 2,160
acquisition of businesses, net of 34,942 cash acquired in 2021
proceeds from sale of division of magicjack																										0	0
purchases of equity investments
proceeds from asset based credit facility																														0	0			0	0
repurchase of warrants																										0	0
impairment of intangibles and (gain) loss on disposal of fixed assets
income allocated for mandatorily redeemable noncontrolling interests																			201,000	217,000	130,000		382,000	222,000	175,000								175,000
due from clearing brokers																			-174,766,000	-8,024,000	-416,038,000		9,501,000	-18,210,000	12,939,000	3,973,000	1,454,000	-6,827,000	15,320,000	17,153,000	-19,649,000	12,654,000	-16,417,000	-9,899,000	-150,000
acquisition of businesses, net of 34,942 cash acquired
purchases of property, equipment and other																			-264,000	-187,000	-101,000		-666,000	-413,000	-438,000
acquisition of other business
payment for debt issuance and offering costs
acquisition of business, net of 34,924 cash acquired																				-130,000	-260,000
purchase of equity investments																				-5,787,000	-4,698,000		0
payment of debt issuance costs																				-8,151,000	-7,510,000	-598,000	-1,000	-36,000	-2,724,000	787,000	-2,173,000	-1,894,000	-145,000	-904,000	-1,420,000	-4,860,000	-76,000	-2,196,000
acquisition of magicjack, net of cash acquired 53,875
acquisition of other businesses																						0	0												0
proceeds from notes payable																														0	0
impairment of intangibles and loss on disposal of fixed assets																							1,507,000	8,504,000	4,046,000
dividends and distributions from equity investments																							208,000	208,000	589,000
recovery of key man life insurance																																		0	0
loan participations sold																										0
asset acquisition - brands, net of cash acquired 2,160
acquisition of wunderlich, net of cash acquired 4,259																																		0
cash acquired from acquisition of fbr & co.																																		0	0
acquisition of united online, net of cash acquired 125,542 in 2016																																		0
proceeds from key man life insurance																																		0	0
equity investments																										0	-8,208,000	-14,625,000	-10,558,000	-9,784,000	-3,281,000	0	-3,575,000
dividends paid																											-15,058,000	-7,385,000	-2,606,000	-4,772,000	-8,363,000	-7,770,000	-1,779,000	-3,262,000	-5,113,000	-3,360,000	-5,020,000	-4,763,000				-4,241,000	-978,000
impairment of leaseholds and intangibles, lease loss accrual and loss on disposal of fixed assets																													88,000
accounts payable, accrued payroll and related expenses, accrued value added tax payable and other accrued expenses																													-1,251,000		4,791,000	15,369,000	-10,049,000	8,223,000	-15,849,000	-11,621,000	-11,127,000
repayment of loans receivable																													5,500,000
purchases of property and equipment and intangible assets																													-1,746,000	-3,118,000	-478,000
accounts payable, accrued payroll and related expenses, accrued value
added tax payable and other accrued expenses
auction and liquidation proceeds payable																																						355,000	-15,339,000			-665,000	-665,000	-665,000	-555,000				-34,000	19,000	-231,000	-618,000	4,171,000	-2,309,000	3,338,000	-452,000	689,000	-3,103,000
acquisition of other businesses, net of cash acquired
proceeds from sale of property and equipment and intangible assets																														0	0
proceeds from participating note payable
espp shares and payment of employment taxes on vesting of restricted stock
impairment of leaseholds, lease loss accrual and loss on disposal of fixed assets																															315,000	1,117,000	286,000		1,467,000
acquisition consideration payable -united online
dividends from equity investment																															0
income from equity investment
acquisition consideration payable
goods held for sale or auction																																	22,000					8,484,000	-8,448,000	-1,000	2,000	52,000	52,000	-1,931,000	352,000	4,000	0	9,058,000	-8,934,000	7,846,000	52,000	-589,000	608,000	410,000	-39,000	-335,000	85,000	152,000
purchases of property and equipment																																	-693,000	-275,000	-244,000	-115,000	-191,000	-432,000	-239,000	-40,000	-18,000	-196,000	-171,000	-129,000	-109,000	-101,000	-6,000	-36,000	-170,000	-266,000	-459,000	-247,000	-39,000	-66,000	-156,000	-254,000	-116,000	-162,000
proceeds from sale of intangible assets																																				160,000	453,000
loss from equity investment																																		280,000
impairment of leaseholds and other, lease loss accrual and loss on disposal of fixed assets
amounts due from related parties and partners																																		487,000	1,020,000
proceeds from sale of property and equipment and intangible asset																																		217,000
equity investment																																		-659,000
decrease in restricted cash																																					2,852,000	75,352,000				7,533,000	7,155,000	-17,997,000	-4,079,000	-3,446,000	-2,000	245,000	2,213,000	-1,313,000	-995,000	7,693,000	-113,000
proceeds of notes payable - related party
repayment of notes payable - related party
repayment of participating note payable and contingent consideration
increase in cash and cash equivalents																																							-21,588,000			24,330,000	20,519,000			-17,289,000	26,143,000	-2,006,000		-6,972,000	-10,623,000	12,926,000	1,820,000
effect of foreign currency on cash																																		-1,244,000	1,001,000	267,000	2,012,000	-1,742,000	-61,000	59,000	25,000	-8,000	9,000	-29,000	134,000	-212,000	-4,000	43,000	314,000	344,000	127,000	-554,000	2,000	-13,000
net increase in cash and cash equivalents																																						85,631,000	-21,649,000			24,322,000	20,528,000		-3,942,000	-17,501,000	26,139,000	-1,963,000	4,898,000	-6,628,000	-10,496,000	12,372,000	1,822,000	-938,000	-5,475,000	-1,804,000	-9,692,000	-8,850,000
cash and cash equivalents, beginning of year																																		0	0
cash and cash equivalents, end of year
provision (recoveries) for doubtful accounts																																			123,000	379,000	325,000
increase in restricted cash																																			-3,534,000					-12,025,000	-1,000
borrowings from participating note payable
offering costs from issuance of common stock
decrease in cash and cash equivalents																																					-42,576,000				-3,251,000			-11,240,000
net decrease in cash and cash equivalents																																					-40,564,000				-3,226,000			-11,269,000
cash and cash equivalents, end of period																																			-2,261,000	33,129,000	71,541,000		-21,649,000	21,337,000	26,786,000	45,922,000	42,128,000	10,331,000		-17,501,000	26,139,000	16,904,000		-6,628,000	-10,496,000	31,093,000	21,902,000		-5,475,000	-1,804,000	28,297,000
proceeds from sale of property and equipment																																										4,000	4,000	4,000
share based compensation																																					907,000	937,000	834,000	560,000	437,000
amounts due to (from) related parties and partners																																					-10,908,000
proceeds from sales of property and equipment																																					6,000
cash and cash equivalents, beginning of period																																					112,105,000		0	0	30,012,000	21,600,000	21,600,000	21,600,000		0	0	18,867,000		0	0	18,721,000	20,080,000		0	0	37,989,000
adjustments to reconcile net income to net cash from (used in) operating activities:
impairment of goods held for sale or auction																																													2,925,000				400,000	0	6,000	22,000		81,000	0
non-cash interest																																						-11,000	93,000	23,000	31,000	118,000	73,000	29,000									-428,000
loss on disposal of assets																																																					3,000	0	1,000	0	2,000	17,000
lease finance receivable																																													0	0	0	107,000
securities owned																																						-7,551,000	15,616,000	966,000	-67,000	407,000	4,273,000	7,341,000	-1,717,000	-13,179,000
accounts payable, accrued payroll and related expenses, accrued value added tax payable and other accured expenses
acquisition of businesses, net of cash acquired
cash acquired from acquisition of b. riley & co., inc.
proceeds from sale of property and equipment and domain names
proceeds from notes receivable - related party
net from investing activities
proceeds from (repayments of) revolving line of credit
proceeds from note payable - related party																																										4,500,000	4,500,000	4,500,000
repayment of note payable - related party																																										-4,500,000	-4,500,000
income taxes paid
bad debt expense
income allocated to mandatorily redeemable noncontrolling interests and redeemable noncontrolling interests																																							490,000	535,000	425,000	1,796,000	1,116,000			299,000
accounts payable and accrued expenses																																							9,173,000	645,000	-6,643,000	5,371,000	9,218,000	1,407,000	1,051,000	338,000	-61,000	-2,470,000	2,336,000	1,494,000	-7,445,000	-356,000	-5,078,000	5,097,000	-4,192,000	4,497,000	-3,963,000	-613,000
due from (due to) related parties
deferred revenues
other liabilities
acquisition of mk capital, net of cash acquired 45
acquisition of united online, net of cash acquired 125,542
proceeds from borrowings under asset based credit facility
proceeds from (repayment of) revolving line of credit																																							0	0	-272,000			1,824,000
offerring costs from issuance of common stock																																							0
benefit from credit losses
due from related party																																										-3,916,000	-1,310,000	-758,000				-177,000		-64,000	419,000	-373,000
repayment of from note payable - related party
due to (from) related party																																									-1,556,000
acquisition of mk capital																																												-2,500,000
cash acquired in acquisition of mk capital, llc																																												49,000
loss from equity investment in great american real estate, llc and shoon trading limited
income allocated to mandatorily redeemable noncontrolling interests																																																333,000	333,000	528,000	745,000	291,000	738,000	632,000	513,000	366,000	295,000	297,000
inventory																																																	5,000	351,000	687,000	-588,000
loan receivable																																																1,206,000
amounts due to (from) related parties
acquisition of mk capital, net of cash acquired of 49																																											-2,451,000
deconsolidation of shoon trading limited
proceeds from sale of property and equipment and notes receivable - related party
equity investment in great american real estate, llc																																																	-6,000	0			-46,000
(repayment of) proceeds from asset based credit facility
payment of financing costs
repayment of notes payable, long-term debt and capital lease obligations
impairment of goods held for sale
share based payments																																										1,192,000	416,000
acquisition of mk capital advisors, llc, net of cash acquired of 49																																										-2,451,000
decrease in note receivable - related party																																														0				377,000	38,000	196,000
cash acquired in acquisition of b. riley & co. inc.
repayment of notes payable and long-term debt
distribution to mandatorily redeemable noncontrolling interests																																										-1,797,000	-1,421,000	-301,000
cash acquired in acquisition of b. riley & co., inc.
net cashprovided by investing activities																																											4,537,000
proceeds fromrevolving line of credit																																											71,000
and redeemable noncontrolling interests																																												402,000
gain from bargain purchase
amounts due to related parties
acquisition of business
purchase of noncontrolling interest in subsidiary
collection of receivable - related party
(repayments of) proceeds from revolving line of credit
repayment of notes payable and capital lease obligations
repayments of long-term debt																																																										-4,582,000
proceeds from formation of noncontrolling interests
amounts due from (due to) related parties																																														177,000
deconsolidation of shoon trading company limited
cash acquired in acquisition of b riley & co.																																														177,000
repayments of capital lease obligations																																																		0	-5,000	-8,000	-7,000
(repayment) proceeds from revolving line of credit																																														-927,000
repayments of notes payable																																														0	639,000	-925,000		-565,000	-761,000	-1,170,000
repayments of long term debt																																														-1,085,000
loss from equity investment in great american real estate, llc																																																					-68,000
share-based payments																																																					358,000	990,000	1,032,000	1,040,000	1,358,000	1,965,000
noncash interest expense
amortization of discount on note payable
change in fair value of mandatorily redeemable noncontrolling interests
income taxes receivable																																																						0	851,000
decrease in notes receivable - related party
provision for (recoveries of) bad debts
loan and lease finance receivables
deconsolidation of shoon
proceeds from formation of noncontrolling interest
loss from discontinued operations
income (loss) from continuing operations
adjustments to reconcile net income to net cash
provided by (used in) operating activities:
provision for (recovery of) doubtful accounts
accrued compensation plans																																																										0
loss on equity investment in great american real estate, llc
change in fair value of mandatorily redeemable noncontrolling
interests
income allocated to mandatorily redeemable noncontrolling
decrease (increase) in notes receivable - related party
proceeds from redemption of officer life insurance
decrease (increase) in restricted cash																																																						195,000			459,000
repayments of capital lease obligation																																																									-6,000	-171,000
proceeds from reverse merger dated july 31, 2009																																																										-1,151,000
warrant redemption for cash
distribution to stockholder's
net (decrease) increase in cash and cash equivalents
decrease in note receivable—related party																																																					2,706,000
income from discontinued operations
income from continuing operations
benefit from (recovery of) doubtful accounts
effect of foreign current on operations
guaranteed payment distributions
income from equity investment in great american real estate, llc
increase in notes receivable - related party
proceeds from (repayment of) revolving lines of credit
repayment of note payable
distribution to stockholder’s
provision (recoveries) of doubtful accounts																																																							0
increase in note receivable - related party																																																							-3,224,000	0	-2,706,000
payment of note payable
distributions to stockholders
supplemental disclosures of noncash investing and financing activities
deferred compensation arrangements
issuance of notes payable from reverse merger dated july 31, 2009
repayments of long-term debt and capital lease obligations
amounts payable under collaborative arrangements
proceeds from revolving lines of credit
purchase on noncontrolling interest in subsidiary for cash
capital contributions - noncontrolling interests
provision for (recoveries of) doubtful accounts
impairment related to assets of discontinued operations
distribution to members
supplemental disclosures of noncash investing and financing activities:

B. Riley Financial, Inc(NASDAQ:RILY)

B. Riley Financial, Inc
(NASDAQ:RILY)