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Jun 30, 2025
B. Riley Q2 2025 Earnings Report
B. Riley reported strong Q2 2025 results with $137.5 million in net income, driven by gains from asset sales and debt restructuring.
Key Takeaways
B. Riley posted a solid quarter with $225.3 million in revenue and $137.5 million in net income, fueled by one-time gains from the sale of GlassRatner and senior note exchanges.
Net income reached $137.5 million, rebounding from a $435.6 million loss in Q2 2024.
Revenue surged to $225.3 million, reflecting improvements in core business and absence of last year's loan valuation losses.
EPS was $4.50, compared to a $(14.35) loss per share in the prior year quarter.
Operating Adjusted EBITDA came in at $38.5 million, up from $31.2 million in Q2 2024.
Revenue by Segment
Forward Guidance
Management reaffirmed its commitment to timely filings and financial transparency, aiming to file Q3 10-Q by Nasdaq’s January 20, 2026 deadline.
Positive Outlook
- Filed Q2 10-Q ahead of Nasdaq’s compliance deadline.
- Significant improvements in financial reporting infrastructure.
- Demonstrated operational resilience across businesses.
- Improved liquidity with $268.6 million in cash and equivalents.
- Net debt reduced by over $238 million since year-end 2024.
Challenges Ahead
- Still in process of becoming current with Q3 10-Q filing.
- Heavy reliance on non-recurring gains to achieve profitability.
- Some business segments saw declines in service revenue YoY.
- Continuing elevated SG&A expenses at $142 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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