B Riley Financial Pref Share RILYP 6.875 Perp 10/07/24 | 8-K: FY2026 Q1 Revenue: USD 352.06 M

Revenue: As of FY2026 Q1, the actual value is USD 352.06 M.

EPS: As of FY2026 Q1, the actual value is USD 6.57.

EBIT: As of FY2026 Q1, the actual value is USD 172.36 M.

Overall Financial Performance

Net Income

Net income available to common shareholders was $211.3 million for the first quarter of 2026, a significant increase from - $12.0 million in the first quarter of 2025.

Total Revenues

Total revenues reached $352.1 million in the first quarter of 2026, up from $186.1 million in the first quarter of 2025. Operating Revenues were $217.2 million in Q1 2026, compared to $213.5 million in Q1 2025. Investment Gains (Losses) were $134.9 million in Q1 2026, compared to - $27.5 million in Q1 2025.

Adjusted EBITDA

Adjusted EBITDA was $262.2 million in the first quarter of 2026, significantly up from - $45.3 million in the first quarter of 2025.

Operating Adjusted EBITDA

Operating Adjusted EBITDA was $34.6 million in the first quarter of 2026, an increase from - $5.6 million in the first quarter of 2025.

Operating Income (Loss)

Operating income was $152.9 million for the three months ended March 31, 2026, compared to an operating loss of - $61.5 million for the same period in 2025.

Total Operating Expenses

Total operating expenses decreased to $199.1 million for the three months ended March 31, 2026, from $247.5 million for the same period in 2025.

Balance Sheet and Investment Metrics

Debt

Total debt was $1.30 billion as of March 31, 2026, a reduction from $1.43 billion at December 31, 2025. Net Debt declined substantially by $254.6 million to $372.4 million as of March 31, 2026, down from $627.0 million at December 31, 2025.

Cash and Investments

Cash, cash equivalents, and restricted cash totaled $178.0 million as of March 31, 2026, down from $229.3 million at December 31, 2025. Securities and other investments owned were $639.7 million as of March 31, 2026, up from $446.8 million at December 31, 2025. Total Investments were $705.1 million as of March 31, 2026, an increase from $520.5 million at December 31, 2025.

Segment Performance (Three Months Ended March 31, 2026 vs. 2025)

Capital Markets

Segment Revenue increased to $172.1 million from $2.1 million. Segment Income increased to $137.2 million from - $35.7 million.

Wealth Management

Segment Revenue increased to $52.2 million from $47.3 million. Segment Income increased to $16.0 million from $1.7 million. B. Riley Wealth had approximately $11.9 billion of client assets under management as of March 31, 2026.

Communications Business Group (Combined Lingo, magicJack, Marconi Wireless, and UOL)

Combined Revenues decreased to $59.9 million from $64.5 million. Combined Income increased to $12.6 million from $10.6 million. Lingo Revenue was $40.8 million (2026) vs. $41.6 million (2025), with Lingo Income at $3.8 million (2026) vs. $2.4 million (2025). magicJack Revenue was $8.8 million (2026) vs. $9.8 million (2025), with magicJack Income at $4.3 million (2026) vs. $4.6 million (2025). Marconi Wireless Revenue was $7.5 million (2026) vs. $9.5 million (2025), with Marconi Wireless Income at $3.1 million (2026) vs. $1.7 million (2025). UOL Revenue was $2.8 million (2026) vs. $3.6 million (2025), with UOL Income at $1.5 million (2026) vs. $1.9 million (2025).

Consumer Products

Segment Revenue increased to $44.1 million from $42.1 million. Segment Loss decreased to - $2.6 million from - $5.1 million.

Outlook / Guidance

BRC Group Holdings, Inc. plans to repurchase minority shares of B. Riley Securities and merge it with B. Riley Wealth by year-end to better serve its core client base. The company’s strategy focuses on its 30-year heritage and expanding opportunities, including putting proprietary capital to work to back partners. Management remains focused on execution for its team, clients, and shareholders, leveraging a strengthened balance sheet, steady contributions from Communications and Consumer businesses, an expanding pipeline, and operational discipline.