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Mar 31, 2020
B. Riley Q1 2020 Earnings Report
B. Riley reported a net loss driven by investment losses, offset by record quarterly operating results.
Key Takeaways
B. Riley Financial reported revenues of negative $0.2 million and a net loss of $98.7 million for the first quarter of 2020, primarily due to investment losses. However, the company experienced strong operating performance, with operating revenue increasing to $182.2 million and operating adjusted EBITDA increasing to $70.9 million.
Revenues were negative $0.2 million due to investment losses.
Net loss of $98.7 million was reported, primarily driven by investment losses.
Operating revenue increased to $182.2 million from $116.3 million in the prior year period.
Operating adjusted EBITDA increased to $70.9 million from $18.9 million for the prior year period.