10-Q: Q1 2025 Earnings Report

B. Riley Financial reported Q1 2025 net loss of $10.0 million, improving from $49.2 million loss in Q1 2024. Total revenues decreased 37.5% to $186.1 million, primarily due to lower investment banking and securities lending income. Operating loss widened to $61.5 million from $16.0 million in the prior year quarter.The company completed several strategic transactions during the quarter, including the sale of Atlantic Coast Recycling for $68.6 million and deconsolidation of Nogin operations, resulting in a combined gain of $80.8 million. The company also executed debt exchanges, converting approximately $232 million of senior notes into $140.7 million of new 8.00% secured notes due 2028.Management continues implementing remediation plans for material weaknesses in internal controls. The company faces potential Nasdaq delisting risk due to delayed quarterly filings but has requested a hearing. With $138.3 million in cash and ongoing strategic divestitures including the $117.8 million sale of GlassRatner, management believes it has sufficient liquidity for the next 12 months.

B. Riley Financial reported Q1 2025 net loss of $10.0 million, improving from $49.2 million loss in Q1 2024. Total revenues decreased 37.5% to $186.1 million, primarily due to lower investment banking and securities lending income. Operating loss widened to $61.5 million from $16.0 million in the prior year quarter.The company completed several strategic transactions during the quarter, including the sale of Atlantic Coast Recycling for $68.6 million and deconsolidation of Nogin operations, resulting in a combined gain of $80.8 million. The company also executed debt exchanges, converting approximately $232 million of senior notes into $140.7 million of new 8.00% secured notes due 2028.Management continues implementing remediation plans for material weaknesses in internal controls. The company faces potential Nasdaq delisting risk due to delayed quarterly filings but has requested a hearing. With $138.3 million in cash and ongoing strategic divestitures including the $117.8 million sale of GlassRatner, management believes it has sufficient liquidity for the next 12 months.