BRC Group Holdings, Inc.
For the period ended Mar 31, 2026. Filed May 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
RILY$3.66-4.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities(1): | ||
| Net income (loss) | $222,159 | $(16,567) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 7,589 | 10,090 |
| Provision for losses on accounts receivable | 356 | 2,065 |
| Share-based compensation | 2,440 | 3,563 |
| Fair value and remeasurement adjustments ($26 and $2,146 from related parties) | (1,865) | 8,405 |
| Non-cash interest and other | 1,585 | 4,513 |
| Depreciation of rental merchandise | 3,123 | 3,387 |
| Net foreign currency losses (gains) | 22 | (224) |
| (Income) loss from equity investments | (1,326) | 552 |
| Dividends from equity investments | 137 | 59 |
| Deferred income taxes | (20) | 8,957 |
| Loss (gain) on sale or disposal of fixed assets and other | 11 | (1,350) |
| Gain on sale and deconsolidation of businesses | — | (80,841) |
| (Gain) loss on extinguishment of debt | (2,890) | 10,427 |
| Gain on senior note exchange | — | (10,532) |
| Change in operating assets and liabilities: | ||
| Amounts due to/from clearing brokers | 7,564 | 17,818 |
| Securities and other investments owned | (192,825) | 49,216 |
| Securities borrowed | (18,501) | 2,127 |
| Accounts receivable | (12,211) | 3,551 |
| Prepaid expenses and other assets ($— and $2,653 from related parties) | 7,224 | 5,479 |
| Accounts payable, accrued expenses and other liabilities | (8,668) | (8,961) |
| Amounts due to/from related parties and partners | — | (1,959) |
| Securities sold not yet purchased | 7,024 | (3,535) |
| Deferred revenue | (1,176) | (857) |
| Securities loaned | 18,321 | (5,199) |
| Net cash provided by operating activities | 38,073 | 184 |
| Cash flows from investing activities(1): | ||
|---|---|---|
| Purchases of loans receivable ($— and $50,853 from related parties) | (20,115) | (61,528) |
| Repayments of loans receivable ($1,855 and $32,683 by related parties) | 28,505 | 46,757 |
| Proceeds from sale of loans receivable ($— and $6,611 from related parties) | — | 6,840 |
| Proceeds from loan participations sold | — | 3,986 |
| Proceeds from sale of business, net of cash sold and other | — | 68,901 |
| Purchases of property, equipment, and intangible assets | (987) | (6,673) |
| Proceeds from sale of property, equipment, intangible assets, and other | — | 7,160 |
| Distributions from equity investments | 930 | — |
| Purchases of equity and other investments | — | (6,621) |
| Consolidation of VIE | — | 359 |
| Net cash provided by investing activities | 8,333 | 59,181 |
| Cash flows from financing activities(1): | ||
| Proceeds from revolving line of credit | 41,312 | 21,535 |
| Repayment of revolving line of credit | (37,242) | (24,064) |
| Proceeds from note payable | — | 850 |
| Repayment of notes payable and other | (297) | (12,834) |
| Repayment of term loans | (4,000) | (239,274) |
| Proceeds from term loans | — | 235,550 |
| Redemption of senior notes | (95,991) | (145,302) |
| Proceeds from senior notes held at redemption | 5,397 | — |
| Repurchases and payments on senior notes | (4,035) | — |
| Payment of debt issuance and offering costs | (32) | (8,942) |
| Payment of contingent consideration | — | (48) |
| Payment of employment taxes on vesting of shares in equity of subsidiary | (1,902) | — |
| Net cash used in financing activities | (96,790) | (172,529) |
| Decrease in cash, cash equivalents and restricted cash(1) | (50,384) | (113,164) |
| Effect of foreign currency on cash, cash equivalents and restricted cash(1) | (871) | (465) |
| Net decrease in cash, cash equivalents and restricted cash(1) | (51,255) | (113,629) |
| Cash, cash equivalents and restricted cash from continuing operations, beginning of period | 229,277 | 248,651 |
| Cash, cash equivalents and restricted cash from discontinued operations, beginning of period | — | 8,025 |
| Cash, cash equivalents and restricted cash, beginning of period | 229,277 | 256,676 |
| Cash, cash equivalents and restricted cash from continuing operations, end of period | 178,022 | 139,678 |
| Cash, cash equivalents and restricted cash from discontinued operations, end of period | — | 3,369 |
| Cash, cash equivalents and restricted cash, end of period | $178,022 | $143,047 |
| Supplemental disclosure of cash flow information: | ||
| Interest paid | $20,191 | $28,982 |
| Taxes paid | 575 | 932 |
| Supplemental disclosure of non-cash investing and financing activities: | ||
|---|---|---|
| Transfer of loans to held for sale from loans receivable at fair value | $— | $5,302 |
| Issuance of common stock in equity of subsidiary | — | 1,575 |
| Issuance of warrants for term loan | — | 7,860 |
| Remaining accrued exit fee for term loan | — | 224 |
| Recognition of derivative liability for term loan exit fee | — | 11,244 |
| Disposition of noncontrolling interests through sale and deconsolidation of businesses | — | 2,918 |
| Capital from noncontrolling interest upon initial consolidation of VIE | — | 12,494 |
| Reclassification of restricted stock units from liability to equity | 2,589 | — |
| Reclassification of restricted stock units from equity to liability | — | 2,138 |
| Issuance of common stock in connection with retirement of senior notes | 33,501 | — |
| Issuance of warrants for senior notes | — | 863 |
(1) Amounts presented contain results from both continuing and discontinued operations. Refer to Note 4 – Discontinued Operations and Assets Held for Sale for additional information regarding cash flow associated with the results of discontinued operations.
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