B. Riley Financial, Inc.
For the period ended Dec 31, 2024. Filed Sep 19, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Sep 19, 2025
RILY$3.66-4.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(774,939) | $(105,631) | $(156,594) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Depreciation and amortization | 45,405 | 49,604 | 39,969 |
| Provision for credit losses | 5,993 | 7,147 | 4,214 |
| Share-based compensation | 19,054 | 45,109 | 61,140 |
| Fair value and remeasurement adjustments, non-cash (includes $328,671, $36,788, and $1,603 from related parties in 2024, 2023 and 2022, respectively) | 327,630 | (10,699) | 34,871 |
| Non-cash interest and other (includes $(32,256), $(2,926), and $(935) from related parties in 2024, 2023 and 2022, respectively) | (23,259) | (9,652) | (3,204) |
| Depreciation of rental merchandise | 15,092 | 4,070 | — |
| Effect of foreign currency on operations | (247) | (310) | 754 |
| Loss (income) from equity method investments | (31) | 181 | (3,570) |
| Dividends from equity investments | 159 | 434 | 4,038 |
| Deferred income taxes | 25,888 | (40,945) | (80,431) |
| Impairment of goodwill and other intangible assets | 105,373 | 70,333 | — |
| Gain on disposal of discontinued operations | (217,504) | — | — |
| (Gain) loss on sale of business, disposal of fixed assets, and other | (163) | (9,034) | 4,922 |
| Gain on bargain purchase | — | (15,903) | — |
| Loss (gain) on extinguishment of debt | 19,158 | 5,294 | (1,102) |
| Gain on equity investment | — | — | (6,790) |
| De-consolidation of BRPM 150 | — | — | (8,294) |
| Income allocated to and fair value adjustment for mandatorily redeemable noncontrolling interests | 1,170 | 1,835 | 1,119 |
| Change in operating assets and liabilities: | |||
| Amounts due to/from clearing brokers | 20,622 | (21,903) | (69,172) |
| Securities and other investments owned | 699,616 | 123,196 | 390,635 |
| Securities borrowed | 2,827,917 | (527,612) | (252,361) |
| Accounts receivable | 2,230 | 26,397 | 6,599 |
| Prepaid expenses and other assets (includes $8,353, $10,521, and $564 from related parties in 2024, 2023 and 2022, respectively) | 26,040 | 737 | (54,273) |
| Accounts payable, accrued payroll and related expenses, accrued expenses and other liabilities | (14,120) | (79,848) | (141,328) |
| Amounts due to/from related parties and partners | (1,250) | (1,045) | 3,925 |
| Securities sold, not yet purchased | (2,926) | 2,704 | (22,726) |
| Deferred revenue | (11,993) | (15,232) | 8,966 |
| Securities loaned | (2,831,364) | 525,275 | 245,346 |
| Net cash provided by operating activities | 263,551 | 24,502 | 6,653 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from investing activities: | |||
| Purchases of loans receivable (includes $(57,615), $(174,753), and $(35,491) from related parties in 2024, 2023 and 2022, respectively) | (118,721) | (544,957) | (503,146) |
| Repayments of loans receivable (includes $74,770, $77,600, and $5,928 from related parties in 2024, 2023 and 2022, respectively) | 149,047 | 606,716 | 574,854 |
| Sales of loans receivable (includes $—, $77,484, and $— from related parties in 2024, 2023 and 2022, respectively) | 31,012 | 84,984 | — |
| Proceeds from loan participations sold | 5,980 | — | — |
| Acquisition of businesses and minority interest, net of $604, $8,308, and $50,733 cash acquired in 2024, 2023, and 2022, respectively | (19,142) | (26,240) | (261,693) |
| Purchases of property, equipment and intangible assets | (7,952) | (7,711) | (3,918) |
| Proceeds from sale of business and other | 261 | 17,490 | 2 |
| Sale of Great American Group | 167,064 | — | — |
| Sale of Brands Interests, net of $(585) cash sold in 2024 | 234,050 | — | — |
| Funds received from trust account of subsidiary | — | 175,763 | 172,584 |
| Purchases of equity and other investments | (1,065) | (4,871) | (10,974) |
| Net cash provided by (used in) investing activities | 440,534 | 301,174 | (32,291) |
| Cash flows from financing activities: | |||
| Proceeds from revolving line of credit | 89,274 | 219,157 | 64,878 |
| Repayment of revolving line of credit | (116,746) | (303,034) | (17,200) |
| Proceeds from note payable | 15,000 | — | — |
| Repayment of notes payable and other | (6,653) | (13,806) | (530) |
| Proceeds from term loan | — | 628,187 | 324,200 |
| Repayment of term loan | (444,770) | (520,803) | (96,228) |
| Proceeds from issuance of senior notes | — | 185 | 51,601 |
| Redemption of senior notes | (140,491) | (58,924) | — |
| Payment of debt issuance and offering costs | (3,484) | (27,993) | (8,222) |
| Payment of contingent consideration | (12,921) | (1,905) | (1,776) |
| ESPP and payment of employment taxes on vesting of restricted stock | (3,218) | (7,591) | (10,286) |
| Common dividends paid | (33,731) | (141,099) | (119,454) |
| Preferred dividends paid | (8,060) | (8,057) | (8,008) |
| Repurchase of common stock | — | (69,479) | (6,516) |
| Distributions to noncontrolling interests | (10,747) | (6,520) | (4,208) |
| Contributions from noncontrolling interests | 3,947 | 6,055 | 21,096 |
| Redemption of subsidiary temporary equity and distributions | — | (175,763) | (172,584) |
| Proceeds from issuance of common stock | — | 115,000 | — |
| Proceeds from issuance of preferred stock | — | 467 | 874 |
| Proceeds from exercise of warrants | 653 | — | — |
| Net cash (used in) provided by financing activities | (671,947) | (365,923) | 17,637 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 32,138 | (40,247) | (8,001) |
| Effect of foreign currency on cash, cash equivalents and restricted cash | (9,301) | 3,160 | (933) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 22,837 | (37,087) | (8,934) |
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash, cash equivalents and restricted cash from continuing operations, beginning of period | 224,565 | 226,066 | 266,224 |
| Cash, cash equivalents and restricted cash from discontinued operations, beginning of period | 9,274 | 44,860 | 13,636 |
| Cash, cash equivalents and restricted cash, beginning of year | 233,839 | 270,926 | 279,860 |
| Cash, cash equivalents and restricted cash from continuing operations, end of period | 256,676 | 224,565 | 226,066 |
| Cash, cash equivalents and restricted cash from discontinued operations, end of period | — | 9,274 | 44,860 |
| Cash, cash equivalents and restricted cash, end of year(1) | $256,676 | $233,839 | $270,926 |
| Supplemental disclosures: | |||
| Interest paid | $239,660 | $315,309 | $193,387 |
| Taxes paid | $7,130 | $20,121 | $49,357 |
(1) Includes cash from assets held for sale of $1,324 in 2024.
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