Revenue: As of FY2025, the actual value is USD 967.6 M.

EBIT: As of FY2025, the actual value is USD 152.83 M.

Overall Performance

• Total Revenues: Increased to $967.6 million in 2025 from $746.4 million in 2024, primarily due to increases in fair value adjustments on loans and trading gains, partially offset by decreases in services and fees, interest income from securities lending, interest income from loans, and sale of goods.
• Operating Income (Loss): Improved significantly to $75.6 million in 2025 from - $497.5 million in 2024.
• Net Income (Loss) Attributable to BRC Group Holdings, Inc.: Turned positive at $307.4 million in 2025 from - $764.3 million in 2024.
• Preferred Stock Dividends: Totaled $8.1 million in both 2025 and 2024, with dividends on Series A and B Preferred Stock temporarily suspended from January 21, 2025, and unpaid dividends accruing.
• Net Income (Loss) Available to Common Shareholders: $299.4 million in 2025 compared to - $772.3 million in 2024.

Segment Revenue (Services and Fees)

• Capital Markets: Decreased by $32.3 million to $154.4 million in 2025 from $186.8 million in 2024.
• Wealth Management: Decreased by $39.4 million to $158.1 million in 2025 from $197.5 million in 2024.
• Lingo: Decreased by $31.7 million to $164.1 million in 2025 from $195.9 million in 2024.
• magicJack: Decreased by $4.5 million to $36.7 million in 2025 from $41.2 million in 2024.
• Marconi Wireless: Decreased by $5.8 million to $31.4 million in 2025 from $37.2 million in 2024.
• UOL: Decreased by $2.0 million to $13.1 million in 2025 from $15.1 million in 2024.
• Corporate and All Other: Decreased by $33.6 million to $76.0 million in 2025 from $109.6 million in 2024.

Trading Gains (Losses), Net

• Total: Increased to a gain of $125.5 million in 2025 from a loss of - $57.0 million in 2024.
• Capital Markets: Contributed $106.4 million in gains in 2025, compared to - $41.7 million in losses in 2024.
• Wealth Management: Generated $17.5 million in gains in 2025, up from $3.3 million in 2024.
• Corporate and All Other: Showed a gain of $1.7 million in 2025, improving from a loss of - $18.6 million in 2024.

Fair Value Adjustments on Loans

• Total: Improved to - $0.4 million in 2025 from - $325.5 million in 2024.
• Capital Markets: Recorded - $3.1 million in adjustments in 2025, compared to - $0.1 million in 2024.
• Corporate and All Other: Improved to $2.7 million in 2025 from - $325.4 million in 2024.

Interest Income - Loans

• Total: Decreased by $43.6 million to $10.6 million in 2025 from $54.1 million in 2024.
• Capital Markets: Decreased to $0.1 million in 2025 from $1.8 million in 2024.
• Corporate and All Other: Decreased to $10.5 million in 2025 from $52.3 million in 2024.

Interest Income - Securities Lending

• Capital Markets: Decreased by $63.9 million to $7.0 million in 2025 from $70.9 million in 2024, due to a strategic shift to decrease securities lending activities.

Sale of Goods

• Total: Decreased by $29.5 million to $191.1 million in 2025 from $220.6 million in 2024.
• Consumer Products: Decreased by $21.1 million to $181.5 million in 2025 from $202.6 million in 2024.

Operating Expenses

• Direct Cost of Services: Decreased by $74.5 million to $139.4 million in 2025 from $213.9 million in 2024.
• Cost of Goods Sold: Decreased by $22.3 million to $145.4 million in 2025 from $167.6 million in 2024.
• Selling, General and Administrative Expenses: Decreased by $89.7 million to $599.7 million in 2025 from $689.4 million in 2024.
• Impairment of Goodwill and Tradenames: Recognized a non-cash impairment charge of $1.5 million in 2025 compared to $105.4 million in 2024.
• Interest Expense - Securities Lending and Loan Participations Sold: Decreased by $60.3 million to $5.8 million in 2025 from $66.1 million in 2024.

Other Income (Expense)

• Realized and Unrealized Gains (Losses) on Investments: Totaled $62.7 million in 2025 compared to - $263.7 million in 2024.
• Gain on Sale and Deconsolidation of Businesses: $85.9 million in 2025.
• Gain on Senior Note Exchange: $67.2 million in 2025.
• Income from Equity Investments: $35.0 million in 2025.
• Interest Expense: Decreased by $40.6 million to $92.7 million in 2025 from $133.3 million in 2024.

Securities and Other Investments Owned

• Total: Increased to $446.8 million in 2025 from $282.3 million in 2024.
• Public Equity Securities: $233.2 million in 2025 compared to $124.9 million in 2024.
• Private Equity Securities: $135.6 million in 2025 compared to $107.6 million in 2024.

Loans Receivable, at Fair Value

• Total: Decreased to $26.3 million in 2025 from $90.1 million in 2024.

Cash Flow Summary

• Net Cash (Used in) Provided by Operating Activities: - $59.7 million in 2025 compared to $263.6 million in 2024.
• Net Cash Provided by Investing Activities: $311.5 million in 2025 compared to $440.5 million in 2024.
• Net Cash Used in Financing Activities: - $279.4 million in 2025 compared to - $671.9 million in 2024.

Indebtedness and Liquidity Outlook

• The Company’s total outstanding indebtedness decreased from $1.8 billion at December 31, 2024, to $1.4 billion at December 31, 2025.
• Short-term debt obligations for the next 12 months include approximately $457.2 million in Senior Note maturities and $16.0 million in term loan amortization payments.
• The Company plans to fund these obligations using existing unrestricted cash ($226.6 million as of December 31, 2025), cash from operations, proceeds from investment/asset sales, and capital market options, with debt reduction remaining a key priority.