Revenue: As of FY2026 Q1, the actual value is USD 352.06 M.

EPS: As of FY2026 Q1, the actual value is USD 6.57.

EBIT: As of FY2026 Q1, the actual value is USD 172.36 M.

Financial Highlights for Q1 2026

Net Income

BRC Group Holdings, Inc. reported net income available to common shareholders of $211.258 million for the first quarter of 2026, a significant increase from a net loss of - $11.990 million in the first quarter of 2025 . This improvement was primarily driven by trading gains and lower operating expenses .

Operational Metrics

• Operating Income (Loss): The company achieved an operating income of $152.928 million in Q1 2026, compared to an operating loss of - $61.477 million in Q1 2025 .
• Total Operating Expenses: Total operating expenses decreased to $199.132 million in Q1 2026 from $247.540 million in Q1 2025 .
• Adjusted EBITDA: Adjusted EBITDA for Q1 2026 was $262.151 million, a substantial increase from - $45.317 million in Q1 2025 .
• Operating Adjusted EBITDA: Operating Adjusted EBITDA was $34.648 million in Q1 2026, up from - $5.610 million in Q1 2025 .

Debt and Investments

• Total Debt: Total debt was reduced by $128.9 million to $1.299 billion as of March 31, 2026, down from $1.428 billion at December 31, 2025 .
• Net Debt: Net Debt substantially declined by $254.6 million to $372.351 million at March 31, 2026, from $626.991 million at December 31, 2025 . This reduction was mainly due to investment appreciation and bond-for-equity senior note exchanges .
• Cash and Cash Equivalents: Cash, cash equivalents, and restricted cash totaled $178.022 million at March 31, 2026, a decrease from $229.277 million at December 31, 2025 .
• Securities and Other Investments Owned: Securities and other investments owned increased to $639.668 million at March 31, 2026, from $446.843 million at December 31, 2025 .
• Total Investments: Total Investments were $705.061 million at March 31, 2026, up from $520.465 million at December 31, 2025 . This increase was primarily due to investment appreciation in Babcock & Wilcox .

Cash Flow

Information regarding operating cash flow and free cash flow is not available in the provided reference text.

Segment Performance (Q1 2026 vs. Q1 2025)

Capital Markets

• Segment Revenues: Increased to $172.111 million from $2.100 million .
• Segment Income: Increased to $137.235 million from - $35.743 million, driven by higher trading gains and advisory revenues .

Wealth Management

• Segment Revenues: Increased to $52.175 million from $47.278 million .
• Segment Income: Increased to $15.984 million from $1.724 million, attributed to increased carried interest appreciation and lower operating expenses .
• Client Assets Under Management: Approximately $11.9 billion as of March 31, 2026 .

Communications Business Group (CBG)

• Combined Revenues: Decreased to $59.9 million from $64.5 million, consistent with customer attrition expectations .
  • Lingo: $40.790 million (2026) vs $41.553 million (2025) .
  • magicJack: $8.783 million (2026) vs $9.801 million (2025) .
  • Marconi Wireless: $7.537 million (2026) vs $9.487 million (2025) .
  • UOL: $2.821 million (2026) vs $3.633 million (2025) .
• Combined Income: Increased to $12.6 million from $10.6 million .
  • Lingo: $3.764 million (2026) vs $2.399 million (2025) .
  • magicJack: $4.251 million (2026) vs $4.616 million (2025) .
  • Marconi Wireless: $3.077 million (2026) vs $1.744 million (2025) .
  • UOL: $1.473 million (2026) vs $1.854 million (2025) .

Consumer Products

• Segment Revenues: Increased to $44.115 million from $42.103 million .
• Segment Loss: Decreased to - $2.641 million from - $5.141 million, due to improvements in distribution channel sales .

Outlook / Guidance

BRC Group Holdings, Inc. plans to repurchase minority shares of B. Riley Securities (BRS) and merge BRS with B. Riley Wealth (BRW) by year-end, expecting to better serve their core client base and leverage proprietary capital . The company anticipates future business growth, expected revenue growth, and appreciation of its investment portfolio . This proposed merger is subject to FINRA and other regulatory approvals, with no assurance that such approvals will be obtained without conditions .