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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets:    
Cash and cash equivalents [1] $ 267,388 $ 146,852
Restricted cash 1,255 100,475
Due from clearing brokers 45,380 30,713
Securities and other investments owned, at fair value [1] 242,352 282,325
Securities borrowed 72,320 43,022
Accounts receivable, net of allowance for credit losses of $6,022 and $6,100 as of June 30, 2025 and December 31, 2024, respectively 61,233 68,653
Due from related parties 185 189
Loans receivable, at fair value 48,980 90,103
Prepaid expenses and other assets (includes $75 and $3,449 from related parties as of June 30, 2025 and December 31, 2024, respectively) [1] 219,972 242,916
Operating lease right-of-use assets 40,178 51,509
Property and equipment, net 18,452 18,679
Goodwill 392,687 392,687
Other intangible assets, net 131,320 146,446
Deferred income taxes 1,300 13,598
Total assets 1,545,223 1,783,263
Liabilities:    
Accounts payable 35,081 51,238
Accrued expenses and other liabilities [1] 175,144 185,745
Deferred revenue 53,499 58,148
Deferred income taxes 2,264 5,462
Due to related parties and partners 1,198 3,404
Securities sold not yet purchased 12,347 5,675
Securities loaned 54,588 27,942
Operating lease liabilities 48,714 58,499
Notes payable 0 28,021
Loan participations sold 10,475 6,000
Revolving credit facility 12,075 16,329
Term loans, net 124,584 199,429
Senior notes payable, net 1,323,727 1,530,561
Total liabilities 1,854,526 2,239,279
Commitments and contingencies
B. Riley Financial, Inc. equity (deficit):    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 4,563 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively; and liquidation preference of $118,112 and $114,082 as of June 30, 2025 and December 31, 2024, respectively 0 0
Common stock, $0.0001 par value; 100,000,000 shares authorized; 30,597,066 and 30,499,931 issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 3 3
Additional paid-in capital 595,432 589,387
Accumulated deficit (941,243) (1,070,996)
Accumulated other comprehensive loss (5,898) (6,569)
Total B. Riley Financial, Inc. stockholders’ deficit (351,706) (488,175)
Noncontrolling interest [1] 42,403 32,159
Total deficit (309,303) (456,016)
Total liabilities and deficit 1,545,223 1,783,263
Disposal Group, Held-for-Sale, Not Discontinued Operations    
Assets:    
Assets held for sale 0 84,723
Liabilities:    
Liabilities held for sale 0 41,505
Discontinued Operations, Disposed of by Sale    
Assets:    
Assets of discontinued operations 2,221 70,373
Liabilities:    
Liabilities of discontinued operations $ 830 $ 21,321
[1] At June 30, 2025, the balance sheet includes cash of $365, securities and other investments owned, at fair value of $503, prepaid and other expenses of $3,800, accrued expenses and other liabilities of $253 and noncontrolling interest of $3,826 of consolidated variable interest entities (Note 2 (o)).