BUSINESS SEGMENTS (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of segment reporting information, by segment

The following is a summary of certain financial data for each of the Company’s reportable segments:

	Three Months Ended March 31,
	2023		2022
Capital Markets segment:			(As Restated)
Revenues - Services and fees	$	57,929	$	61,223
Trading income (loss) and fair value adjustments on loans	50,296		(19,800)
Interest income - Loans and securities lending	77,186		61,426
Total revenues	185,411		102,849
Selling, general and administrative expenses	(65,711)		(34,117)
Interest expense - Securities lending and loan participations sold	(32,424)		(11,766)
Depreciation and amortization	(1,256)		(1,893)
Segment income	86,020		55,073
Wealth Management segment:
Revenues - Services and fees	48,542		76,957
Trading income and fair value adjustments on loans	1,272		522
Total revenues	49,814		77,479

Selling, general and administrative expenses	(47,322)	(85,742)
Restructuring charge	(33)	—
Depreciation and amortization	(1,086)	(1,833)
Segment income (loss)	1,373	(10,096)
Auction and Liquidation segment:
Revenues - Services and fees	5,444	3,355
Revenues - Sale of goods	216	—
Total revenues	5,660	3,355
Direct cost of services	(3,128)	(2,335)
Cost of goods sold	(52)	—
Selling, general and administrative expenses	(2,280)	(1,820)
Segment income (loss)	200	(800)
Financial Consulting segment:
Revenues - Services and fees	25,010	25,936
Selling, general and administrative expenses	(21,149)	(20,943)
Depreciation and amortization	(78)	(81)
Segment income	3,783	4,912
Communications segment:
Revenues - Services and fees	85,052	30,087
Revenues - Sale of goods	1,867	1,878
Total revenues	86,919	31,965
Direct cost of services	(44,733)	(9,316)
Cost of goods sold	(2,168)	(2,251)
Selling, general and administrative expenses	(22,544)	(8,245)
Restructuring charge	(60)	—
Depreciation and amortization	(6,631)	(3,184)
Segment income	10,783	8,969
Consumer segment:
Revenues - Services and fees	4,309	4,557
Revenues - Sale of goods	65,694	—
Total revenues	70,003	4,557
Cost of goods sold	(45,406)	—
Selling, general and administrative expenses	(20,112)	(756)
Depreciation and amortization	(2,839)	(583)
Segment income	1,646	3,218
Consolidated operating income from reportable segments	103,805	61,276
All Other:
Revenues - Services and fees	9,273	699
Direct cost of services	(6,536)	—
Corporate and other expenses	(21,619)	(16,002)
Interest income	2,574	67
Dividend income	13,204	7,861
Realized and unrealized losses on investments	(28,442)	(49,112)
Change in fair value of financial instruments and other	(209)	5,981
(Loss) income on equity investments	(10)	6,775
Interest expense	(47,561)	(30,436)

Income (loss) before income taxes	24,479		(12,891)
(Provision for) benefit from income taxes	(7,919)		3,695
Net income (loss)	16,560		(9,196)
Net (loss) income attributable to noncontrolling interests and redeemable noncontrolling interests	(595)		866
Net income (loss) attributable to B. Riley Financial, Inc.	17,155		(10,062)
Preferred stock dividends	2,012		2,002
Net income (loss) available to common shareholders	$	15,143	$	(12,064)

Schedule of revenues by geographical area

The following table presents revenues by geographical area:

	Three Months Ended March 31,
	2023		2022
			(As Restated)
Revenues:
Revenues - Services and fees:
North America	$	234,930	$	200,861
Europe	629		1,953
Total Revenues - Services and fees	235,559		202,814
Trading income (loss) and fair value adjustments on loans
North America	51,568		(19,278)
Revenues - Sale of goods
North America	37,947		1,878
Australia	3,459		—
Europe, Middle East, and Africa	17,428		—
Asia	6,224		—
Latin America	2,719		—
Total Revenues - Sale of goods	67,777		1,878
Revenues - Interest income - Loans and securities lending:
North America	77,186		61,426
Total Revenues:
North America	401,631		244,887
Australia	3,459		—
Europe, Middle East, and Africa	18,057		1,953
Asia	6,224		—
Latin America	2,719		—
Total Revenues	$	432,090	$	246,840

Long-Lived Assets by Geographic Areas

The following table presents long-lived assets, which consists of property and equipment, net, by geographical area:

	March 31, 2023		December 31, 2022
Long-lived Assets - Property and Equipment, net:
North America	$	26,770	$	26,276
Europe	532		577
Asia Pacific	165		162
Australia	110		126
Total	$	27,577	$	27,141