B RILEY FINANCIA(US:RILYL)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] - Adjusted EBITDA for Q3 2025 was $112.2 million, a turnaround from $(89.5) million in Q3 2024[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 attributable to the Registrant for the three months ended September 30, 2025, was $91.1 million, a significant improvement from a net loss of $284.4 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] Revenue Segments - 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, but segment income improved to $7.2 million from $0.8 million[11] - The Communications segment reported revenues of $60.4 million in Q3 2025, down from $67.6 million in the same prior year period, with segment income of $12.0 million[11] 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[24] - Total liabilities as of September 30, 2025, were $1.88 billion, down from $2.24 billion as of December 31, 2024[24] - Cash and cash equivalents increased to $184.2 million as of September 30, 2025, from $146.9 million as of December 31, 2024[24] - The company’s accumulated deficit decreased to $850.1 million as of September 30, 2025, from $1.07 billion as of December 31, 2024[24] Trading and Investments - 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 reported trading losses of $53.0 million for the three months ended September 30, 2025, compared to trading gains of $1.2 million in the same period of 2024[31] - Fair value adjustments on loans resulted in a loss of $1.3 million for the three months ended September 30, 2025, contrasting with a gain of $71.5 million in the same period of 2024[31] - Total investments as of September 30, 2025, amounted to $406.7 million, a decrease from $432.6 million 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 plans to continue focusing on market expansion and new product development to drive future growth[26] - The company plans to focus on market expansion and new product development to drive future growth, although specific details were not disclosed in the earnings call[31]