B. Riley Financial(US:RILY)2026-01-29 13:20Financial 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].