B Riley Financial Pref Share RILYL 7.375 Perp 09/04/25 B | 8-K: FY2025 Q2 Revenue: USD 225.3 M

Revenue: As of FY2025 Q2, the actual value is USD 225.3 M.

EPS: As of FY2025 Q2, the actual value is USD 4.5.

EBIT: As of FY2025 Q2, the actual value is USD 34.28 M.

Net Income

Net income for the second quarter of 2025 was $137.5 million, which includes gains of $66.8 million from the sale of GlassRatner and gains of $44.5 million from senior note exchanges, compared to a net loss of - $435.6 million in the second quarter of 2024.

Income from Continuing Operations

Income from continuing operations was $71.7 million, including gains of $44.5 million on senior note exchanges, compared to a loss from continuing operations of - $449.2 million in the second quarter of 2024.

Income from Discontinued Operations

Income from discontinued operations was $69.3 million, which includes gains of $66.8 million from the sale of GlassRatner, compared to $15.4 million in the second quarter of 2024.

Revenues

Revenues for the second quarter of 2025 were $225.3 million, compared to $94.9 million in the second quarter of 2024, due to a - $175.6 million loss on fair value adjustments on loans in the same period.

Operating Adjusted EBITDA

Operating adjusted EBITDA from continuing operations was $38.5 million, compared to $31.2 million in the second quarter of 2024.

Total Debt

Total debt was $1.46 billion, with net debt of $824.8 million, compared to $1.77 billion and $1.06 billion, respectively, as of December 31, 2024. The $314 million reduction in total debt was due to a decrease in senior notes payable of $207 million and term loans and notes payable of $107 million.

Cash and Investments

Cash, cash equivalents, and restricted cash were $268.6 million, compared to $247.3 million as of December 31, 2024. Securities and other investments owned were $242.4 million, and total investments were $321.6 million, compared to $282.3 million and $432.6 million as of December 31, 2024, respectively.

Earnings Per Share

Basic and diluted earnings per common share (EPS) were $4.50 compared to - $14.35 in the second quarter of 2024.

Outlook

B. Riley Financial is well positioned to file the third quarter Form 10-Q by the January 20, 2026 deadline established by Nasdaq, which will bring their financial reporting current. The company has made significant changes to its financial operations practices, enabling successful filing ahead of Nasdaq’s listing compliance deadline.