B RLY FINCL(US:RILYP)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 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]. - Adjusted EBITDA for Q3 2025 was $112.2 million, a turnaround from $(89.5) million in Q3 2024[7]. - 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 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, compared to a gain of $71.5 million 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, but segment income improved to $7.2 million from $0.8 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]. - Total investments as of September 30, 2025, amounted to $406.7 million, a decrease from $432.6 million as of December 31, 2024[33]. - Net debt as of September 30, 2025, was $702.9 million, down from $1,063.7 million as of December 31, 2024, indicating a reduction of 34%[33]. - The company’s total debt as of September 30, 2025, was $1.4 billion, down from $1.8 billion as of December 31, 2024[33]. Compliance and Management - The company filed three Form 10-Qs for Q1, Q2, and Q3 2025 within 120 days, achieving NASDAQ compliance ahead of the deadline[5]. - B. Riley Wealth managed over $13 billion in client assets as of September 30, 2025[11]. - The company is focused on comprehensive transformation efforts across its businesses and operations to enhance its position for 2026[4]. - The company plans to focus on market expansion and new product development to drive future growth[30].