B Riley Financial Pref Share RILYL 7.375 Perp 09/04/25 B | 8-K: FY2025 Q3 Revenue: USD 277.87 M

Revenue: As of FY2025 Q3, the actual value is USD 277.87 M.

EPS: As of FY2025 Q3, the actual value is USD 2.91.

EBIT: As of FY2025 Q3, the actual value is USD 82.69 M.

Financial and Operational Metrics for Third Quarter 2025

Overall Financial Performance

• Net Income Available to Common Shareholders: BRC Group Holdings, Inc. reported net income available to common shareholders of $89.1 million for the third quarter of 2025, a significant improvement compared to a net loss of -$286.4 million in the third quarter of 2024 . This exceeded the top end of previous estimates by approximately $12 million due to lower income tax provision .
• Operating Revenues: Operating revenues were $244.1 million in Q3 2025, a slight decrease from $253.1 million in Q3 2024 .
• Adjusted EBITDA: Adjusted EBITDA was $112.2 million in Q3 2025, compared to -$89.5 million in Q3 2024 .
• Operating Adjusted EBITDA: Operating Adjusted EBITDA rose to $58.0 million in Q3 2025, from $12.0 million in Q3 2024 .
• Operating Income (Loss): The company posted operating income of $65.4 million in Q3 2025, a substantial improvement from an operating loss of -$82.2 million in Q3 2024 .
• Total Operating Expenses: Total operating expenses decreased to $212.5 million in Q3 2025 from $257.5 million in Q3 2024 .
• Interest Expense: Interest expense was $18.8 million in Q3 2025, down from $33.0 million in Q3 2024 .

Balance Sheet Highlights (as of September 30, 2025 vs. December 31, 2024)

• Total Debt: Total debt was $1.44 billion as of September 30, 2025, reduced from $1.77 billion as of December 31, 2024 .
• Net Debt: Net debt decreased to $702.9 million as of September 30, 2025, from $1.06 billion as of December 31, 2024, reflecting a reduction of over $120 million in the third quarter through bond exchanges and investment asset appreciation .
• Cash, Cash Equivalents, and Restricted Cash: This figure was $185.5 million as of September 30, 2025, down from $247.3 million as of December 31, 2024 .
• Securities and Other Investments Owned: Increased to $315.5 million as of September 30, 2025, from $282.3 million as of December 31, 2024 .
• Total Investments: Total investments were $406.7 million as of September 30, 2025, compared to $432.6 million as of December 31, 2024 .

Segment Performance (Third Quarter 2025 vs. 2024)

• Capital Markets Segment:
  • Revenues: Increased to $116.2 million, up from -$24.7 million in the prior year period .
  • Segment Income: Rose to $60.7 million, compared to -$62.3 million in the prior year period . This segment led strong financial performance with the highest quarterly services and fee revenues since Q4 2023 .
• Wealth Management Segment:
  • Revenues: Decreased to $42.4 million, from $50.1 million in the prior year period .
  • Segment Income: Increased to $7.2 million, up from $0.8 million in the prior year period .
  • Client Assets Under Management: Over $13 billion as of September 30, 2025 .
• Communications Segment:
  • Revenues: Decreased to $60.4 million, from $67.6 million in the prior year period .
  • Segment Income: Generated $12.0 million, consistent with previous quarters .
• Consumer Products Segment:
  • Revenues: Decreased to $47.0 million, from $49.8 million in the prior year period .
  • Segment Loss: Decreased to -$1.3 million, from -$3.5 million in the prior year period .
• E-Commerce Segment:
  • Revenues: Reported $0 in Q3 2025, down from $9.0 million in the prior year period .
  • Segment Loss: Reported $0 in Q3 2025, compared to -$5.2 million in the prior year period .

Outlook / Guidance

BRC Group Holdings, Inc. stated that its comprehensive transformation efforts throughout 2025 have significantly enhanced its position for 2026 . The company successfully met Nasdaq’s continued listing quarterly report filing deadlines, bringing its SEC periodic reporting current by filing three Form 10-Qs within 120 days . The change of name to BRC Group Holdings reflects the company’s evolution into a portfolio of diverse companies .