B Riley Financial Pref Share RILYL 7.375 Perp 09/04/25 B | 8-K: FY2025 Q2 Revenue: USD 60.91 M

Revenue: As of FY2025 Q2, the actual value is USD 60.91 M.

EBIT: As of FY2025 Q2, the actual value is USD 16.93 M.

Financial Highlights

Q2 2025 Preliminary Unaudited Financial Results

• Total Revenue: $60.9 million
• Adjusted Net Revenue: $51.5 million
• GAAP Net Income: $12.5 million
• Adjusted Net Income: $8.6 million.

Operational Metrics

• Investment Banking Revenue: $32.3 million
• Institutional Brokerage Revenue: $25.4 million
• Interest Income: $2.3 million
• Other Income: $0.9 million
• Total Revenues: $60.9 million
• Compensation and Benefits: $29.7 million
• Interest Expense: $1.7 million
• Other Operating Expenses: $12.6 million
• Total Expenses: $44.0 million
• Operating Net Income: $16.9 million
• Net Income Before Income Taxes: $16.9 million
• Income Tax Expense: $4.4 million
• Net Income: $12.5 million.

Cash Flow and Balance Sheet

• Cash and Securities: $94.5 million
• Debt-Free Balance Sheet: No outstanding debt.

Unique Metrics

• Goodwill and Intangibles: $161.4 million
• Total Assets: $382.1 million
• Total Liabilities: $125.7 million
• Total Equity: $256.5 million.

Outlook / Guidance

• The company has approved a common stock dividend of approximately $0.22 per common share, totaling around $4.1 million. While this does not establish a recurring dividend program, future returns of capital to shareholders will be evaluated based on available excess capital, business growth prospects, and client capital needs.

Segment Revenue

• Revenue for the first half of 2025 is expected to range from $405.0 million to $425.0 million.

Operational Metrics

• Preliminary year-end 2024 net loss available to common shareholders is $772.3 million, or $25.46 diluted net loss per common share.
• Net income for the first half of 2025 is expected to range from $125.0 million to $145.0 million, which includes estimated gains on sale of $53 million from Atlantic Coast Recycling, $66 million from GlassRatner, and $55 million on senior note exchanges.
• Net income from continuing operations is expected to range from $52.4 million to $72.4 million.
• Operating adjusted EBITDA from continuing operations for the first half of 2025 is expected to range from $20.0 million to $26.0 million.

Cash Flow

• As of June 30, 2025, estimated cash, cash equivalents, and restricted cash are $268 million.

Unique Metrics

• Realized cash proceeds from business sales of approximately $187 million from the sales of GlassRatner and Atlantic Coast Recycling.
• Bond exchanges achieved approximately $126 million of debt reduction through five bond exchanges through July 2025.

Outlook / Guidance

• The company expects net income available to common shareholders for the first half of 2025 to be in the range of $125.0 million to $145.0 million, or $4.08 to $4.74 diluted net income per common share.
• Total debt is estimated to have decreased by $600 million from September 30, 2024, with net debt estimated to have decreased by $544 million to $574 million from September 30, 2024.