---
title: "B Riley Financial Pref Share RILYL 7.375 Perp 09/04/25 B | 8-K: FY2025 Q3 Revenue: USD 277.87 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/272603038.md"
datetime: "2026-01-14T21:13:15.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/272603038.md)
  - [en](https://longbridge.com/en/news/272603038.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/272603038.md)
generator: "portal-rs"
---

# 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 .

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**