BRC Group Holdings, Inc. RILY
BRC Group Holdings, Inc. (Nasdaq: RILY) (the "Company" or "BRCGH"), which changed its name from B. Riley Financial, Inc. effective January 1, 2026, is a diversified holding company offering a platform of businesses, including financial services (with complementary banking and wealth management businesses), telecom, retail, and investments in equity, debt and venture capital. We refer to BRCGH as having a "platform" because of the unique composition of our financial services businesses and diversification of its operations. Our core financial services platform provides small cap and middle market companies customized end-to-end solutions at every stage of the enterprise life cycle. Our complementary banking business offers comprehensive services in capital markets, sales, trading, research, merchant banking, M&A, and restructuring. Our complementary wealth management business offers wealth management and financial planning services including brokerage, investment management, insurance, and tax preparation. Our telecom businesses provide consumer and business services including traditional, mobile and cloud phone, internet and data, security, and email. Our consumer products and retail companies provide mobile computing accessories and home furnishings. BRCGH, through its investment business, deploys its capital inside and outside its core financial services business to generate shareholder value through opportunistic investments.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $789.0M | $986.0M | $1.11B | $825.6M | $1.18B | $665.3M | $458.5M | $423.0M | $322.2M | $190.4M |
| Cost of revenue | $145.4M | $167.6M | $172.8M | $60.8M | $27.0M | — | $7.6M | $800.0K | $398.0K | $14.8M |
| Gross profit | $643.6M | $818.3M | $937.9M | $764.8M | $1.15B | — | $450.9M | $422.2M | $321.8M | $175.6M |
| SG&A | $599.7M | $689.4M | $764.9M | $654.8M | $906.2M | $428.5M | $385.2M | $310.5M | $227.9M | $82.1M |
| Total operating expenses | $892.0M | $1.24B | $1.37B | $909.6M | $1.04B | $558.0M | $485.5M | $377.6M | $293.3M | $141.6M |
| Operating income | $75.6M | -$497.5M | $96.1M | $29.9M | $514.5M | $276.3M | $166.7M | $45.4M | $28.8M | $48.7M |
| Interest expense | — | — | — | — | — | — | $50.2M | $33.4M | $8.4M | $2.0M |
| Pre-tax income | $229.6M | -$900.4M | -$199.3M | -$334.3M | $614.8M | $279.5M | $116.6M | $21.3M | $20.4M | $47.0M |
| Income tax | $9.9M | $22.0M | $39.1M | $65.3M | $164.0M | $75.4M | $34.6M | $4.9M | $8.5M | $14.3M |
| Net income | $307.0M | -$764.0M | -$100.0M | -$159.8M | $445.1M | $205.1M | $81.6M | $16.3M | $11.6M | $21.5M |
| EPS, basic | 9.80 | -25.46 | -3.69 | -5.95 | 15.99 | 7.83 | 3.08 | 0.60 | 0.50 | 1.19 |
| EPS, diluted | 9.80 | -25.46 | -3.69 | -5.95 | 15.09 | 7.56 | 2.95 | 0.58 | 0.48 | 1.17 |
| Shares, diluted (wtd. avg.) | $30.6M | $30.3M | $29.3M | $28.2M | $29.0M | $26.5M | $27.5M | $26.8M | $24.3M | $18.4M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $226.6M | $146.9M | $218.5M | $226.1M | $266.2M | $104.8M | $104.7M | $180.3M | $152.5M | $115.4M |
| Receivables | $55.5M | $68.7M | $82.0M | $149.1M | $49.7M | $40.8M | $46.6M | $42.1M | $20.0M | $19.0M |
| Inventory | $48.0M | $63.0M | $93.7M | $101.7M | $4.0M | — | — | — | — | — |
| Total current assets | — | — | — | — | — | — | — | — | — | $158.0M |
| Property, plant and equipment | $17.6M | $18.7M | $25.2M | $27.1M | $12.9M | $11.7M | $12.7M | $15.5M | $12.0M | $5.8M |
| Goodwill | $392.7M | $392.7M | $437.0M | $506.9M | $250.6M | $227.0M | $223.7M | $223.4M | $98.8M | $48.9M |
| Other intangibles | $118.3M | $146.4M | $198.2M | $374.1M | $207.7M | $190.7M | $220.5M | $91.4M | $56.9M | $41.2M |
| Total assets | $1.71B | $1.78B | $6.08B | $6.11B | $5.85B | $2.66B | $2.32B | $1.96B | $1.39B | $264.6M |
| Accounts payable | $41.5M | $51.2M | $44.0M | $81.4M | $6.3M | $2.7M | $4.5M | $5.6M | $2.6M | $2.7M |
| Total current liabilities | — | — | — | — | — | — | — | — | — | $83.7M |
| Long-term debt | $1.43B | — | — | — | — | — | — | — | — | — |
| Total liabilities | $1.83B | $2.24B | $5.72B | $5.43B | $4.80B | $2.12B | $1.93B | $1.70B | $1.12B | $114.2M |
| Retained earnings | -$763.3M | -$1.07B | -$281.3M | -$45.2M | $248.9M | $203.1M | $39.5M | $1.6M | $6.6M | $9.9M |
| Total equity | -$171.5M | -$488.2M | $359.6M | $505.9M | $705.2M | $539.0M | $390.3M | $258.7M | $265.8M | $150.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$59.7M | $263.6M | $24.5M | $6.7M | $50.9M | $57.7M | -$27.2M | -$102.2M | -$81.8M | $80.3M |
| Depreciation and amortisation | $35.2M | $45.4M | $49.6M | $40.0M | $25.9M | $19.4M | $19.0M | $13.8M | $11.1M | $4.3M |
| Stock-based compensation | $14.0M | $19.1M | $45.1M | $61.1M | $36.0M | $18.6M | $15.9M | $13.0M | $10.3M | $2.8M |
| Capital expenditure | — | — | — | — | — | — | $3.5M | $5.4M | $825.0K | $729.0K |
| Investing cash flow | $311.5M | $440.5M | $301.2M | -$32.3M | -$956.5M | $21.8M | -$437.7M | -$154.1M | -$17.8M | -$34.1M |
| Financing cash flow | -$279.4M | -$671.9M | -$365.9M | $17.6M | $1.08B | -$80.7M | $389.3M | $284.9M | $134.1M | $40.4M |
| Dividends paid | $0 | $33.7M | $141.1M | $119.5M | $347.1M | $38.8M | $41.1M | $22.7M | $16.8M | $5.3M |
| Buybacks | — | $0 | $69.5M | $6.5M | $2.7M | $48.2M | $4.3M | $18.7M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001213900-26-042006.
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