Every 10-Q that BRC Group Holdings, Inc. (RILY) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow RILY and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RILY filings page.
BRC Group Holdings, Inc. reported strong profitability for the six months ended June 30, 2026, with total revenues of 591,177 (dollars in thousands) and net income of 243,756, compared with 411,365 and 124,432 a year earlier. Diluted income per common share from continuing operations was 6.47 for the six-month period and 0.45 for the quarter.
Total assets rose to 1,967,538, while stockholders’ equity improved to 142,169 from a deficit of 171,533 at December 31, 2025, aided by redeeming 95,991 of 5.50% Senior Notes due 2026 and exchanging 69,054 of senior notes for 8,358,495 common shares. Senior notes payable, net, declined to 1,129,966. Cash, cash equivalents and restricted cash were 155,642, and management states existing liquidity and credit facilities are expected to cover obligations for the next 12 months. The investment portfolio is concentrated, including a 386,996 equity stake in Babcock & Wilcox Enterprises, Inc. and sizable loans to XBP Americas, LLC and Enovum NC-1 Venture, LLC.
BRC Group Holdings, Inc. reported net income of $222.2 million for the quarter ended March 31, 2026, compared with a net loss of $16.6 million a year earlier. Revenue rose to $352.1 million from $186.1 million, helped by $145.1 million of net trading gains and $105.1 million of realized and unrealized investment gains. Operating expenses fell to $199.1 million from $247.5 million, turning operating income to $152.9 million from a loss. The company used gains and cash to reduce senior notes payable, net, to $1.17 billion from $1.30 billion and fully redeemed $96.0 million of 5.50% senior notes due 2026. It also exchanged $36.1 million of various senior notes for 4.55 million common shares, which, along with earnings, moved total equity from a deficit of $120.3 million at December 31, 2025 to positive equity of $136.3 million at March 31, 2026.
BRC Group Holdings, Inc. reported a sharp turnaround for the quarter ended September 30, 2025. Net income attributable to the company was $91.1 million, compared with a large loss a year earlier, as revenues rose to $277.9 million and operating income reached $65.4 million.
Results benefited from strong trading gains, fair value gains on investments, and a $12.2 million gain on senior note exchanges. For the first nine months of 2025, net income attributable to the company totaled $220.6 million on revenues of $689.2 million, helped by significant gains on asset sales and deconsolidations.
The balance sheet also improved. Senior notes payable declined from $1,530.6 million to $1,311.3 million, and total stockholders’ deficit narrowed from $488.2 million to $260.5 million. The company completed exchanges of multiple note series into $228.4 million of new 8.00% senior secured second lien notes due 2028 and executed several business divestitures to raise cash and simplify operations.
B. Riley Financial reported a sharp turnaround for the quarter ended June 30, 2025, posting net income of $141.0 million versus a net loss of $433.8 million a year earlier. For the first six months of 2025, net income was $124.4 million, compared with a loss of $481.7 million in 2024.
Results were driven by improved trading gains, positive fair value marks on investments and loans, a $55.0 million gain on senior note exchanges, and large gains on business and segment divestitures, including the Atlantic Coast Recycling sale, Wealth Management transaction, and sale of the GlassRatner and Farber advisory businesses.
Despite the profit, the company still reported a stockholders’ deficit of $351.7 million as of June 30, 2025, alongside $1.32 billion of senior notes payable. Management highlighted multiple private exchanges of 2026–2028 senior notes into new 8.00% senior secured second lien notes due 2028 and stated it believes current cash, investments, and credit facilities are sufficient to meet obligations over the next 12 months.
The company also disclosed ongoing Nasdaq listing compliance issues tied to prior late SEC filings, noting a Nasdaq Hearings Panel granted continued listing subject to filing deadlines for delayed quarterly reports. Separately, it plans to change its corporate name to BRC Group Holdings, Inc. effective January 1, 2026, while keeping its RILY trading symbol.
B. Riley Financial reported a weak first quarter of 2025, with total revenues of $186.1 million, down from $297.6 million a year earlier, as services, trading and interest-related income all declined. The company posted an operating loss of $61.5 million compared with a $16.0 million loss in the prior-year quarter, reflecting lower revenue despite reduced direct costs and selling, general and administrative expenses.
After other items, including an $80.8 million gain on the sale and deconsolidation of businesses, a $10.5 million gain on a senior note exchange, and $10.4 million of debt extinguishment losses, B. Riley recorded a net loss of $16.6 million versus a $48.0 million loss a year ago. The balance sheet remains highly leveraged, with term loans of $184.1 million and senior notes of $1.37 billion, and stockholders’ deficit widened to $496.8 million negative equity.