Core Insights - BRC Group Holdings, Inc. expects strong financial performance for the fourth quarter and full year of 2025, with net income available to common shareholders projected between $60.0 million and $65.4 million for Q4 and $274.5 million to $279.9 million for the full year [1][5][19] - The company anticipates adjusted EBITDA for Q4 2025 to be in the range of $98.9 million to $109.4 million, a significant recovery from a loss of $(113.8) million in Q4 2024 [1][5][19] - BRC's strategy in 2025 focused on repositioning its balance sheet and enhancing operational performance, which has set a solid foundation for future growth [3][4] Fourth Quarter 2025 Highlights - Net income for Q4 2025 is expected to be significantly higher than the $0.9 million reported in Q4 2024 [5] - Revenues for Q4 2025 are projected to range from $271.0 million to $282.5 million, compared to $178.6 million in Q4 2024 [5] - The company expects a decline in net debt to between $609 million and $631 million by December 31, 2025, down from a peak of $1.39 billion in September 2024 [4][21] Full Year 2025 Estimates - For the full year 2025, total revenues are expected to be between $960.2 million and $971.7 million, compared to $746.4 million in 2024 [19] - Adjusted EBITDA for the full year is projected to be between $225.8 million and $236.3 million, a recovery from a loss of $(568.3) million in 2024 [19] - Basic and diluted earnings per share (EPS) for the full year are expected to range from $8.98 to $9.16, compared to a loss of $(25.46) in 2024 [19] Financial Position - Total assets are estimated to be between $1.694 billion and $1.724 billion as of December 31, 2025, compared to $1.783 billion in 2024 [17] - Total liabilities are expected to be between $1.834 billion and $1.844 billion, down from $2.239 billion in 2024 [17] - Cash, cash equivalents, and restricted cash are projected to be $229 million as of December 31, 2025, compared to $247.3 million in 2024 [21]

LOS ANGELES, Jan. 28, 2026 /PRNewswire/ -- BRC Group Holdings, Inc. (f/k/a B. Riley Financial, Inc.) (NASDAQ: RILY) ("BRC" or the "Company"), a diversified holding company, today announced that on January 27, 2026 the Company received a letter from The Nasdaq Stock Market LLC ("Nasdaq") confirming that it has regained compliance with Nasdaq's Periodic Filing Rule 5250(c)(1). Consistent with the applicable Nasdaq Listing Rules in such circumstances, the notice also indicated that Nasdaq had imposed a "Manda ...

Less than a year ago, B. Riley Financial’s share price was hanging by a thread, trading below $3. On Nov. 11, 2025, it announced that it would change its name to BRC Group Holdings (RILY) effective Jan. 1. Since hitting a 52-week low of $2.67 last April, its shares have gained 251%. The most recent surge over the past five days saw the share price rise 17% and average daily volume exceed 6 million, considerably higher than its 30-day average of 2.38 million. More News from Barchart It’s been a little ...

Financial Performance - Total revenues increased by $102.5 million to $277.9 million for the three months ended September 30, 2025, compared to $175.4 million for the same period in 2024, representing a 58.5% increase[368]. - Total revenues for the nine months ended September 30, 2025, were $689.2 million, an increase of 21.4% compared to $567.8 million for the same period in 2024[402]. - Net income attributable to common shareholders was $89.1 million, compared to a loss of $286.4 million in the same quarter of 2024, reflecting a change of $375.5 million[365]. - The company generated net income of $220.6 million for the nine months ended September 30, 2025, compared to a net loss of $767.2 million in 2024[439]. Revenue Breakdown - The Capital Markets segment saw a revenue increase of $34.9 million to $65.4 million, primarily due to a rise in corporate finance, consulting, and investment banking fees[370]. - The Wealth Management segment's revenues decreased by $15.0 million to $34.3 million, driven by a reduction in assets under management (AUM) from approximately $25.7 billion in 2024 to $13.3 billion in 2025[371]. - The Communications segment's revenues decreased by $6.9 million to $59.4 million, primarily due to a decline in subscription revenue[372]. - The E-Commerce segment reported no revenues for the three months ended September 30, 2025, following the deconsolidation of Nogin[373]. - Revenues from services and fees in All Other decreased by $11.7 million to $11.6 million for the three months ended September 30, 2025, compared to $23.3 million for the same period in 2024[374]. Investment and Securities - As of September 30, 2025, the total securities and other investments owned amounted to $315.5 million, an increase from $282.3 million as of December 31, 2024, representing a growth of approximately 11.5%[354][355]. - The carrying value of public equity securities was $149.7 million as of September 30, 2025, up from $124.9 million as of December 31, 2024, indicating a growth of about 19.8%[355]. - The carrying value of private equity securities decreased to $99.0 million as of September 30, 2025, down from $107.6 million as of December 31, 2024, reflecting a decline of approximately 7.9%[355][359]. - The carrying value of Babcock & Wilcox Enterprises, Inc. common stock increased to $79.6 million as of September 30, 2025, compared to $45.0 million as of December 31, 2024, marking a significant increase of 76.0%[356]. - The carrying value of Double Down Interactive Co., Ltd common stock decreased to $32.2 million as of September 30, 2025, from $43.7 million as of December 31, 2024, representing a decline of approximately 26.2%[357]. Operational Improvements - The Company aims to maximize free cash flow through operational improvements in acquired companies, targeting attractive risk-adjusted returns[342]. - The Company has a value-oriented investment approach, providing advisory services for complex transactions consistent with this philosophy[347]. - The Company plans to pursue future acquisitions in the Communications Segment to expand its portfolio of businesses[349]. Expenses and Costs - Total operating expenses decreased by $45.1 million to $212.5 million, a reduction of 17.5% compared to the previous year[365]. - Total selling, general and administrative expenses decreased by $64.4 million to $453.6 million, with significant reductions in the Wealth Management and Corporate segments[422]. - Selling, general and administrative expenses in the Capital Markets segment increased by $22.2 million to $53.4 million during the three months ended September 30, 2025, from $31.3 million in the same period of 2024[384]. - Interest expense decreased by 28.9% from $102.2 million in 2024 to $72.7 million in 2025, primarily due to lower debt balances[402]. Cash Flow and Liquidity - Cash used in operating activities was $85.9 million for the nine months ended September 30, 2025, compared to cash provided of $266.3 million for the same period in 2024, a decrease of $352.2 million[451]. - Cash provided by investing activities increased to $275.9 million for the nine months ended September 30, 2025, from $25.5 million in 2024, primarily due to proceeds from the sale of various businesses[452]. - Cash used in financing activities was $261.0 million for the nine months ended September 30, 2025, a decrease of $93.7 million compared to $354.7 million in 2024, mainly due to the suspension of dividends[453]. - The principal sources of liquidity include existing cash, cash flows from operations, and funds available under revolving credit facilities[450]. Changes and Future Outlook - The Company underwent a name change to BRC Group Holdings, Inc. effective January 1, 2026, while retaining its trading symbol "RILY"[360]. - The company expects that current cash, cash equivalents, and available credit will be sufficient to meet working capital and capital expenditure requirements for at least the next 12 months[445]. - Approximately $280.1 million of senior notes are due in the next twelve months, with $1.0 billion due thereafter[444]. - The company continues to monitor financial performance to ensure sufficient liquidity for operations and business plans[446].

Financial Performance - Net income available to common shareholders for Q3 2025 was $89.1 million, a significant improvement from a net loss of $(286.4) million in Q3 2024[6]. - Total revenues for Q3 2025 reached $277.9 million, compared to $175.4 million in Q3 2024, reflecting a year-over-year increase of approximately 58.5%[7]. - Operating income for the three months ended September 30, 2025, was $65.4 million, compared to an operating loss of $82.2 million in the same period of 2024[26]. - Net income for the three months ended September 30, 2025, was $95.6 million, a significant improvement from a net loss of $287.6 million in the same period of 2024[26]. - Basic income per common share for continuing operations was $2.97 for the three months ended September 30, 2025, compared to a loss of $5.02 in the same period of 2024[27]. - The company reported trading gains of $53.0 million for the three months ended September 30, 2025, compared to a loss of $1.2 million in the same period of 2024[26]. - The company experienced a significant improvement in income from continuing operations, reporting $97,419,000 for the three months ended September 30, 2025, compared to a loss of $150,611,000 in the same period of 2024[31]. Revenue Segments - Operating revenues were $244.1 million in Q3 2025, slightly down from $253.1 million in Q3 2024[7]. - The Capital Markets segment generated revenues of $116.2 million in Q3 2025, up from $(24.7) million in the same period last year, with segment income increasing to $60.7 million from $(62.3) million[11]. - Wealth Management segment revenues decreased to $42.4 million in Q3 2025, down from $50.1 million in Q3 2024, while segment income improved to $7.2 million from $0.8 million[11]. - Total revenues for the three months ended September 30, 2025, reached $277,871,000, a significant increase from $175,364,000 in the same period of 2024, representing a growth of 58.5%[29]. Debt and Assets - Total debt as of Q3 2025 was $1.44 billion, with net debt reduced to $702.9 million, down from $1.06 billion at the end of 2024[7]. - Total assets as of September 30, 2025, were $1.67 billion, a decrease from $1.78 billion as of December 31, 2024[23]. - Total liabilities as of September 30, 2025, were $1.88 billion, down from $2.24 billion as of December 31, 2024[23]. - Cash and cash equivalents increased to $184.2 million as of September 30, 2025, from $146.9 million as of December 31, 2024[23]. - The company’s accumulated deficit decreased to $850.1 million as of September 30, 2025, from $1.07 billion as of December 31, 2024[23]. - Total investments as of September 30, 2025, amounted to $406,710,000, a decrease from $432,616,000 as of December 31, 2024[33]. - Net debt as of September 30, 2025, was $702,902,000, down from $1,063,684,000 as of December 31, 2024[33]. - Total debt as of September 30, 2025, was $1,443,402,000, compared to $1,774,340,000 as of December 31, 2024[33]. Compliance and Future Plans - The company filed three Form 10-Qs for Q1, Q2, and Q3 2025 within 120 days, achieving NASDAQ compliance ahead of the deadline[5]. - The company is focused on comprehensive transformation efforts across its businesses, operations, and balance sheet to enhance its position for 2026[4]. - The company plans to continue focusing on market expansion and new product development to drive future growth[26]. Adjusted Metrics - Adjusted EBITDA for Q3 2025 was $112.2 million, a turnaround from $(89.5) million in Q3 2024[7]. - Adjusted EBITDA for the three months ended September 30, 2025, was $112,204,000, a recovery from a loss of $89,524,000 in the same period of 2024[31]. - Operating Adjusted EBITDA for the three months ended September 30, 2025, was $57,951,000, compared to $12,011,000 in the same period of 2024[31].

Core Insights - BRC Group Holdings, Inc. reported a net income of $89.1 million for the third quarter of 2025, a significant recovery from a net loss of $286.4 million in the same period of 2024 [1][9][24] - The company achieved total revenues of $277.9 million, up from $175.4 million year-over-year, while operating revenues were slightly down at $244.1 million compared to $253.1 million in 2024 [9][25] - Adjusted EBITDA reached $112.2 million, a substantial improvement from a loss of $89.5 million in the previous year [9][25] Financial Performance - The Capital Markets segment generated revenues of $116.2 million, recovering from a loss of $24.7 million in the prior year, with segment income increasing to $60.7 million from a loss of $62.3 million [10][6] - The Wealth Management segment saw revenues decrease to $42.4 million from $50.1 million, but segment income improved to $7.2 million from $0.8 million [10][6] - The Communications segment's revenues fell to $60.4 million from $67.6 million, but segment income increased to $12.0 million from $8.3 million [10][6] Debt and Cash Position - Total debt stood at $1.44 billion, with net debt at $702.9 million, reflecting a reduction of over $120 million in net debt during the third quarter [6][9] - Cash, cash equivalents, and restricted cash decreased to $185.5 million from $247.3 million as of December 31, 2024 [9][21] Operational Highlights - BRC Group Holdings successfully filed three Form 10-Qs for Q1, Q2, and Q3 2025 within 120 days, ensuring compliance with Nasdaq listing requirements [4][6] - The company emphasized its transformation efforts across various business segments, enhancing its operational position for future growth [4][3]

Core Viewpoint - Halper Sadeh LLC is investigating potential breaches of fiduciary duties by certain officers and directors of B. Riley Financial, Inc. (NASDAQ: RILY) towards shareholders [1] Group 1 - The investigation may provide long-term shareholders of RILY stock the opportunity to seek corporate governance reforms [1] - Shareholders may also pursue the return of funds back to the company as part of the investigation [1] - There is a possibility for court-approved financial incentive awards or other relief and benefits for shareholders [1]

SAN FRANCISCO, Jan. 6, 2026 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP advises B. Riley Financial, Inc. (NASDAQ: RILY) (now BRC Group Holdings, Inc.) investors that the firm is investigating potential legal claims arising from alleged false statements about a $200 million loan to an entity affiliated with Brian Kahn, who pleaded guilty in December 2025 to conspiracy to commit securities fraud in a different matter. Current shareholders are encouraged to contact the firm here: https://www.classactionlaw ...

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Market Overview - US stock futures showed modest gains with Dow futures up about 0.07% to 48,514, S&P 500 futures gaining roughly 0.13% to 6,865, and Nasdaq futures rising 0.15% to around 25,419, reflecting a market balancing softer economic signals with hopes of nearing the end of the Fed's tightening cycle [1][17] - The previous regular session ended mixed, with the Dow falling 0.62% and S&P 500 slipping 0.24%, extending their losing streaks to three days, while the Nasdaq Composite managed a 0.23% gain [2][17] Economic Data - The US economy lost 105,000 jobs in October, raising the unemployment rate to 4.6%, the highest since September 2021, but November saw a rebound with payrolls increasing by 64,000 jobs, exceeding the Dow Jones estimate of 45,000 [4][17] - Despite the rebound, hiring remains below earlier levels, keeping investors cautious about potential economic momentum loss [7][17] Federal Reserve and Interest Rates - Investors are closely monitoring comments from Federal Reserve officials Christopher Waller and John Williams for insights on future rate moves and interpretations of the recent unemployment rise [8][17] - The 10-year Treasury yield is around 4.15%, which continues to pressure equity valuations, especially in rate-sensitive sectors [9][17] Corporate News - Micron Technology and General Mills are notable companies reporting earnings, with Micron's price target raised to $300 due to strong AI-driven demand, forecasting over 25% upside [17] - Tesla is facing regulatory scrutiny after a California judge ruled it could face a 30-day suspension of licenses related to its Autopilot and Full Self-Driving marketing [17] - Amazon is reportedly in talks to invest about $10 billion in OpenAI, potentially intensifying competition in the AI sector [17] Pre-market Activity - AMC Robotics surged nearly 66% on heavy volume, Rezolve AI jumped over 27%, and Biodexa Pharmaceuticals also saw strong gains, while Tesla slipped amid regulatory headlines and Nvidia was slightly lower ahead of earnings [10][15][17] Global Market Trends - Asia-Pacific markets traded mostly higher, with Hong Kong's Hang Seng up 0.82%, China's Shanghai Composite and Shenzhen Component rising 1.19% and 1.70%, respectively, and Japan's Nikkei adding 0.26% [13][17] - European markets opened mostly higher ahead of key central bank decisions and fresh inflation data from the UK, providing additional context for US investors [14][17]