BRC Group Holdings, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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.
Sep 30, 2026 · Filed Nov 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(Dollars in thousands, except share and par value)
| September 30,2026 | December 31,2025 | |
|---|---|---|
| (Unaudited) | ||
| ASSETS | ||
| Assets: | ||
| Cash and cash equivalents(1) | $144,072 | $226,601 |
| Restricted cash | 1,651 | 2,676 |
| Due from clearing brokers | 19,402 | 51,000 |
| Securities and other investments owned ($307,830 and $382,461 at fair value)(1) | 369,818 | 446,843 |
| Securities borrowed | 235,009 | 114,937 |
| Accounts receivable, net of allowance for credit losses of $5,560 and $6,108 | 59,062 | 55,473 |
| Loans receivable, at fair value ($1,086 and $2,835 from related parties) | 10,798 | 26,303 |
| Equity investments | 68,059 | 90,433 |
| Prepaid expenses and other assets(1) | 117,961 | 128,650 |
| Operating lease right-of-use assets | 36,252 | 32,109 |
| Property and equipment, net | 18,268 | 17,606 |
| Goodwill | 392,687 | 392,687 |
| Other intangible assets, net | 94,599 | 118,290 |
| Deferred income taxes | 793 | 763 |
| Assets of discontinued operations (Note 5) | 2,221 | 2,221 |
| Total assets | $1,570,652 | $1,706,592 |
| LIABILITIES AND DEFICIT | ||
| Liabilities: | ||
| Accounts payable | $34,929 | $41,463 |
| Accrued expenses and other liabilities ($190 and $6,400 at fair value)(1) | 125,198 | 154,780 |
| Deferred revenue | 45,030 | 49,907 |
| Deferred income taxes | 4,409 | 4,109 |
| Securities sold not yet purchased, at fair value | 7,897 | 9,809 |
| Securities loaned | 217,125 | 97,321 |
| Operating lease liabilities | 43,773 | 40,902 |
| Revolving credit facilities | 32,285 | 6,638 |
| Term loans, net | 115,421 | 119,297 |
| Senior notes payable, net | 988,328 | 1,301,798 |
| Liabilities of discontinued operations (Note 5) | 830 | 830 |
| Total liabilities | 1,615,225 | 1,826,854 |
| Commitments and contingencies (Note 27) | ||
| BRC Group Holdings, Inc. stockholders’ deficit: | ||
|---|---|---|
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 4,563 shares issued and outstanding and liquidation preference of $128,187 and $122,142 | — | — |
| Common stock, $0.0001 par value; 100,000,000 shares authorized; 40,199,755 and 30,597,066 issued and outstanding | 4 | 3 |
| Additional paid-in capital | 680,912 | 598,022 |
| Accumulated deficit | (770,467) | (763,286) |
| Accumulated other comprehensive loss | (8,167) | (6,272) |
| Total BRC Group Holdings, Inc. stockholders’ deficit | (97,718) | (171,533) |
| Noncontrolling interests(1) | 53,145 | 51,271 |
| Total deficit | (44,573) | (120,262) |
| Total liabilities and deficit | $1,570,652 | $1,706,592 |
(1)At September 30, 2026 and December 31, 2025, the balance sheet includes cash of $1,046 and $446, securities and other investments owned, at fair value of $671 and $682, prepaid and other expenses of $3,064 and $3,737, accrued expenses and other liabilities of $28 and $28, and noncontrolling interest of $4,119 and $4,192, respectively, of consolidated variable interest entities (see Note 3 - Variable Interest Entities).
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