B. Riley Financial expects a net loss of $435-475 million for Q2 2024, primarily due to a $330-370 million non-cash markdown related to its Franchise Group investment. The company will suspend its common dividend to prioritize deleveraging.Additional charges include a $28 million impairment on Targus goodwill and a $25 million valuation allowance for deferred income taxes. Operating adjusted EBITDA is estimated at $50-55 million. As of June 30, 2024, cash and cash equivalents stood at $237 million, with total cash and investments at $1.1 billion and outstanding debt at $2.16 billion.B. Riley plans to refocus on its core financial services businesses and is advancing a strategic review of Great American Group. The company will file a Form 12b-25 to delay its Q2 2024 10-Q filing due to valuation finalization delays.

B. Riley Financial expects a net loss of $435-475 million for Q2 2024, primarily due to a $330-370 million non-cash markdown related to its Franchise Group investment. The company will suspend its common dividend to prioritize deleveraging.Additional charges include a $28 million impairment on Targus goodwill and a $25 million valuation allowance for deferred income taxes. Operating adjusted EBITDA is estimated at $50-55 million. As of June 30, 2024, cash and cash equivalents stood at $237 million, with total cash and investments at $1.1 billion and outstanding debt at $2.16 billion.B. Riley plans to refocus on its core financial services businesses and is advancing a strategic review of Great American Group. The company will file a Form 12b-25 to delay its Q2 2024 10-Q filing due to valuation finalization delays.