B. Riley shares bounce after a shock Q2 revenue, debt strikes, and a well timed submitting ease Nasdaq delisting threat, however an overdue Q3 report nonetheless looms.
Abstract
- B. Riley filed its long-delayed Q2 2025 report forward of Nasdaq’s December 23 deadline, briefly eradicating the delisting menace and boosting premarket buying and selling.
- The agency swung to $137.5m in internet earnings from a $435.6m loss a 12 months earlier, aided by asset gross sales, notice exchanges, and stronger income.
- Regardless of the rebound, B. Riley nonetheless faces an overdue Q3 submitting, fallout from Franchise Group’s chapter, and an ongoing U.S. civil probe tied to a former associate.
B. Riley Monetary shares surged in premarket buying and selling on Tuesday, December 16, 2025, following the corporate’s submitting of its long-delayed second-quarter monetary report forward of a vital Nasdaq deadline.
B. Riley goes for Nasdaq deadline
The monetary providers agency submitted the report earlier than Nasdaq’s December 23 deadline, eradicating the rapid menace of delisting that had confronted the corporate for months, in line with firm statements. B. Riley has been coping with challenges stemming from failed investments, debt restructuring, and regulatory scrutiny following the chapter of one among its main portfolio corporations.
The delayed Q2 report confirmed internet earnings of $137.5 million for the quarter ended June 30, 2025, in comparison with a internet lack of $435.6 million in the identical interval of 2024. Earnings from persevering with operations reached $71.7 million, reversing a lack of $449.2 million from the prior 12 months.
Income elevated to $225.3 million from $94.9 million in Q2 2024, pushed partly by a destructive $175.6 million loss on truthful worth changes on loans within the comparable interval. The corporate’s earnings included one-time gadgets, together with a $66.8 million acquire tied to the sale of GlassRatner and $44.5 million from senior notice exchanges.
Working adjusted EBITDA from persevering with operations improved to $38.5 million from $31.2 million within the year-ago quarter. The corporate reported non-GAAP earnings per share of $4.50.
Chairman and Co-CEO Bryant Riley acknowledged that whereas the Q3 report stays excellent, the corporate is “properly positioned to file” it by Nasdaq’s January 20, 2026 deadline, which might deliver monetary reporting totally present.
Nasdaq had beforehand granted the corporate extensions after a panel listening to, citing B. Riley’s efforts to handle reporting delinquencies and the appointment of a brand new chief monetary officer whose compensation is partially tied to well timed reporting, in line with regulatory filings.
The corporate has been navigating uncertainty following the collapse of Franchise Group, which filed for chapter in late 2024, leaving B. Riley with lots of of thousands and thousands of {dollars} in write-offs. A former Franchise Group CEO lately pleaded responsible to defrauding hedge fund traders at Prophecy Asset Administration of roughly $300 million, although B. Riley has acknowledged it had no data of these fraudulent actions.
The agency faces an ongoing U.S. civil investigation associated to that particular person, in line with firm disclosures.
