false 0001464790 0001464790 2025-08-07 2025-08-07 0001464790 RILY:CommonStockParValue0.0001PerShareMember 2025-08-07 2025-08-07 0001464790 RILY:DepositarySharesEachRepresenting11000thInterestIn6.875SeriesCumulativePerpetualPreferredShareParValue0.0001PerShareMember 2025-08-07 2025-08-07 0001464790 RILY:DepositarySharesEachRepresenting11000thFractionalInterestIn7.375ShareOfSeriesBCumulativePerpetualPreferredStockMember 2025-08-07 2025-08-07 0001464790 RILY:Sec5.00SeniorNotesDue2026Member 2025-08-07 2025-08-07 0001464790 RILY:Sec5.50SeniorNotesDue2026Member 2025-08-07 2025-08-07 0001464790 RILY:Sec6.50SeniorNotesDue2026Member 2025-08-07 2025-08-07 0001464790 RILY:Sec5.25SeniorNotesDue2028Member 2025-08-07 2025-08-07 0001464790 RILY:Sec6.00SeniorNotesDue2028Member 2025-08-07 2025-08-07 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 7, 2025

 

B. RILEY FINANCIAL, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-37503   27-0223495
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

11100 Santa Monica Blvd., Suite 800

Los Angeles, CA 90025

310-966-1444

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

 

Securities registered pursuant to Section 12(b) of the Act: 

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.0001 per share   RILY   Nasdaq Global Market
Depositary Shares (each representing a 1/1000th interest in a 6.875% Series A Cumulative Perpetual Preferred Share, par value $0.0001 per share)   RILYP   Nasdaq Global Market
Depositary Shares, each representing a 1/1000th fractional interest in a 7.375% share of Series B Cumulative Perpetual Preferred Stock   RILYL   Nasdaq Global Market
5.00% Senior Notes due 2026   RILYG   Nasdaq Global Market
5.50% Senior Notes due 2026   RILYK   Nasdaq Global Market
6.50% Senior Notes due 2026   RILYN   Nasdaq Global Market
5.25% Senior Notes due 2028   RILYZ   Nasdaq Global Market
6.00% Senior Notes due 2028   RILYT   Nasdaq Global Market

 

Not Applicable 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

Item 2.02. Results of Operations and Financial Condition.

 

On August 7, 2025, B. Riley Securities Holdings, Inc., a subsidiary of B. Riley Financial, Inc. (the “Company”), issued a press release reporting its preliminary unaudited financial results for the three-month period ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1.

 

On August 13, 2025, the Company issued a press release reporting certain preliminary financial information for the three and twelve-month periods ending December 31, 2024, and certain unaudited preliminary estimates and a business update for the six-months ended June 30, 2025. A copy of the press release is attached hereto as Exhibit 99.2.

 

The information set forth in this Current Report, including Exhibits 99.1 and 99.2 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of such section. The information in this Current Report, including Exhibits 99.1 and 99.2 attached hereto, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing to this Current Report.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
99.1   Press Release dated August 7, 2025
99.2   Press Release dated August 13, 2025
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  B. Riley Financial, Inc.
     
  By: /s/ Scott Yessner
  Name: Scott Yessner
  Title: Chief Financial Officer
     
Date: August 13, 2025    

 

2

Exhibit 99.1

 

www.brileysecurities.com

 

B. Riley Securities Provides Post-Carve Out Business Update and Financial Highlights

 

ARLINGTON, VA, August 7, 2025B. Riley Securities Holdings, Inc. (“B. Riley Securities,” “BRS” or the “Company”), a leading middle market investment bank, today provided a business update and certain preliminary financial results for its first full quarter since the previously announced carve-out transaction from B. Riley Financial, Inc. (Nasdaq: RILY) (“BRF”) in March 2025.

 

Management Commentary

 

“It’s been a busy summer at B. Riley Securities, and we’re pleased to share a business update including the results of our first full quarter following our carve-out from BRF,” said Jimmy Baker, Co-CEO and Head of Capital Markets. “As most indices reached new highs, client activity increased significantly during the quarter, driving sequential improvements in both Institutional Brokerage commissions and Investment Banking revenue. We executed and advised on a diverse range of financing needs, meeting clients’ emerging priorities including crypto treasury implementation and advancing AI adoption. Over the past year, we’ve helped clients raise over $8 billion to support AI-driven investments a trend that remained a key driver of activity throughout the second quarter. Building upon the convertibles practice we established last year, we’ve expanded our variable rate transaction capabilities to offer our clients flexible, cost-effective financing, backed by our firm’s growing balance sheet. This progress, along with strong at-the-market issuance volume, has continued into the third quarter.”

 

“We’ve continued to strengthen our organization through key team additions and enhanced capabilities that position our firm to deliver increasing value to middle market clients throughout market cycles,” said Andy Moore, Chairman and Co-CEO. “We’ve added talent across the platform, including seven senior strategic hires who have reinforced leadership across key practice areas, expanded sector coverage and deepened domain expertise in areas such as Real Estate, Healthcare, Digital Assets, Consumer, TMT, FinTech, Renewables, and Industrials such as Aerospace & Defense. Our research-led franchise remains a foundational pillar and key differentiator of our business, demonstrated by the draw of several hundred companies and institutional investors that participated in our 25th Annual Investor Conference in May.”

 

“We have refocused on our strengths as a mid-market merchant bank, stabilized and strengthened key teams, and begun to recapture meaningful momentum in our core business lines,” continued Mr. Baker. “After a challenging Q1 marked by several revenue headwinds, we’ve since executed our carve-out and delivered month-over-month improvement throughout Q2 and into the early part of Q3. It’s deeply rewarding to see our clients and teammates realize the benefits of our platform, and we are especially grateful for the continued support and dedication through our transition earlier this year. While we’ve only just completed our first quarter post-carve-out, we’re encouraged by the market’s response to our strategy, and we look forward to providing future updates to our stakeholders.”

 

Financial Highlights

 

Q2 2025 Preliminary Unaudited Financial Results
Total Revenue $60.9 million
Adjusted Net Revenue $51.5 million
GAAP Net Income $12.5 million
Adjusted Net Income $8.6 million

 

For the three-month period ended June 30, 2025, preliminary unaudited financial results reflect total revenue of approximately $60.9 million and adjusted net revenue of approximately $51.5 million. GAAP net income was approximately $12.5 million, while adjusted net income totaled approximately $8.6 million.

 

  
B. Riley Securities  |  Member FINRA/SIPC  |  www.brileysecurities.com 1

www.brileysecurities.com

 

The adjusted results presented above, including Adjusted Net Revenue and Adjusted Net Income, are non-GAAP metrics that BRS believes offer a clearer view of the firm’s underlying operating performance. A description of the adjustments made to arrive at non-GAAP figures is provided in the note regarding the use of non-GAAP financial measures in the Appendix of this press release.

 

Revenue and net income may vary from period to period based on the number, size, and timing of completed transactions, among other factors. Accordingly, these results may not be indicative of broader business momentum or longer-term performance.

 

Operational & Strategic Update

 

Debt-Free Balance Sheet: As of June 30, 2025, cash and securities totaled $94.5 million. BRS continues to operate with no outstanding debt.

 

Enhanced Governance: BRS took additional steps during the quarter to further strengthen its governance framework. The Board of Directors comprises five members: Andy Moore as Chairman, Jimmy Baker, Ryan Greenawalt, Steve Haggerty, and Dan Shribman.

 

Capital Management and Alignment: In light of the firm’s quarterly performance and outlook, the BRS Board has approved the payment of a common stock dividend of approximately $0.22 per common share, or approximately $4.1 million in the aggregate. While this does not represent the establishment of a recurring dividend program, BRS will continue to evaluate future returns of capital to shareholders in the context of available excess capital, business growth prospects and client capital needs.

 

About B. Riley Securities

 

BRS provides a full suite of investment banking and capital markets services to corporations, financial sponsors, and institutional investors across all industry verticals. Services include initial, secondary, and follow-on offerings, institutional private placements, merger and acquisition (M&A) advisory, SPACs, corporate restructuring, and liability management. Widely recognized for its thematic proprietary equity research, clients benefit from BRS' extensive network, industry expertise, and proven execution capabilities through its end-to-end financial services platform. For more information, visit www.brileysecurities.com.

 

Forward-Looking Statements

 

This release contains forward-looking statements subject to risks and uncertainties, including the Company’s ability to execute under its new structure, market conditions, and client transaction volumes. Results could differ materially from expectations. Please refer to risk disclosures in B. Riley Financial, Inc.’s SEC filings for detailed information.

 

Note Regarding Use of Non-GAAP Financial Measures

 

Certain information set forth herein, including adjusted net revenue and adjusted net income (loss), may be considered non-GAAP financial measures. B. Riley Securities believes this information is useful to investors because it provides a basis for measuring the operating performance of the Company's business and its revenues and cash flow, (i) excluding in the case of adjusted net revenue, trading gains (losses) on legacy investment positions (net of “regular way” fixed income trading revenue) and fair value adjustments on loans, and including Securities Lending interest expense and (ii) excluding in the case of adjusted net income, fair value adjustments, stock-based compensation, trading gains (losses) on legacy investment positions (net of “regular way” fixed income trading revenue), fair value adjustments on loans and other investment-related expenses, and including the estimated related tax expense or benefit on the aforementioned adjustments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles (“GAAP”). In addition, the Company's management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company's operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies.

 

  
B. Riley Securities  |  Member FINRA/SIPC  |  www.brileysecurities.com 2

www.brileysecurities.com

 

B. RILEY SECURITIES HOLDINGS, INC.

Condensed Consolidated Balance Sheet as of June 30, 2025

(Preliminary, Unaudited)

(in thousands)

 

   B. Riley Securities
Holdings, Inc.
 
     
Assets     
Cash and cash equivalents  $55,039 
Receivables   42,421 
Securities borrowed   72,319 
Securities owned, at fair value   39,488 
Operating lease right of use asset   6,533 
Goodwill and intangibles   161,353 
Property and equipment, net   1,597 
Prepaid expenses and other assets   3,359 
Total assets  $382,109 
      
      
Liabilities     
Securities loaned  $54,587 
Financial instruments sold, not yet purchased, at fair value   12,347 
Accrued compensation and benefits   25,605 
Accounts payable and accrued expenses   24,783 
Operating lease liabilities   8,336 
Total liabilities  $125,658 
      
Equity  $256,451 
      
Total liabilities & equity  $382,109 

 

  
B. Riley Securities  |  Member FINRA/SIPC  |  www.brileysecurities.com 3

www.brileysecurities.com

 

B. RILEY SECURITIES HOLDINGS, INC.

Condensed Consolidated Statements of Operations

Quarter Ended June 30, 2025

(Preliminary, Unaudited)

(in thousands)

 

   B. Riley Securities
Holdings, Inc.
 
Revenues     
Investment banking  $32,346 
Institutional brokerage   25,389 
Interest   2,300 
Other income   876 
Total revenues  $60,911 
      
Expenses     
Compensation and benefits  $29,744 
Interest   1,655 
Other operating expenses   12,573 
Total expenses   43,972 
      
Operating net income   16,939 
Other expense   11 
Net income before income taxes   16,928 
      
Income tax expense   4,407 
Net income  $12,521 

 

  
B. Riley Securities  |  Member FINRA/SIPC  |  www.brileysecurities.com 4

www.brileysecurities.com

 

B. RILEY SECURITIES HOLDINGS, INC.

Reconciliation of GAAP to Adjusted Q2 2025 Financial Results

(Preliminary, Unaudited)

(in thousands)

 

   B. Riley Securities
Holdings, Inc.
 
Reconciliation of GAAP to adjusted financials:     
      
GAAP revenue  $60,911 
      
Adjustments:     
Legacy positions losses (gains) (1)   (7,768)
Committed equity facility gains (losses)   (11)
Total adjustments   (7,779)
Adjusted revenue   53,132 
      
Securities lending interest expense   (1,655)
Adjusted net revenue  $51,477 
      
Net income  $12,521 
      
Adjustments:     
Legacy positions losses (gains) (1)   (7,768)
Share based compensation   2,415 
Income tax-effect of above non-GAAP adjustments and certain discrete tax items   1,393 
Adjusted net income  $8,561 

 

1)Legacy investment positions held at BRS that are not, following the carve-out, part of BRS’ go-forward strategy.

 

  
B. Riley Securities  |  Member FINRA/SIPC  |  www.brileysecurities.com 5

Exhibit 99.2

 

 

 

 

B. Riley Financial Shares Preliminary Fourth Quarter and Full Year 2024 Results and Financial Estimates and Business Update for First Half 2025

 

First Half 2025 Net Income Available to Common Shareholders Expected to be in the Range of $125.0 Million to $145.0 Million, or $4.08 to $4.74 Diluted Net Income per Common Share

 

As of June 30, 2025, Estimated Cash of $268 Million, Total Debt of $1.46 Billion, and Net Debt in the Range of $809 Million to $839 Million; Total Debt Estimated to Have Decreased by $600 Million from September 30, 2024; Net Debt Estimated to Have Decreased by $544 Million to $574 Million from September 30, 2024

 

Preliminary Year-End 2024 Net Loss Available to Common Shareholders is $772.3 Million, or $25.46 Diluted Net Loss per Common Share

 

LOS ANGELES, August 13, 2025 – B. Riley Financial, Inc. (NASDAQ: RILY) (“BRF” or the “Company”), a diversified financial services company, today is providing preliminary fourth quarter and full year 2024 results and financial estimates, and a business update for the first half of 2025, ended June 30, 2025.

 

First Half 2025 Highlights

 

Executed B. Riley Securities (“BRS”) carve out in March 2025, aligning capital and management to serve clients. Partnered with BRS to provide clients timely, flexible capital through variable rate transactions and funding for emerging client priorities in AI investments.

 

BRS business highlights include: acting as the lead left book-runner on an AI infrastructure provider’s IPO; joint lead placement on a fabless semiconductor company’s capital raise; the sole bookrunner for an Ethereum treasury company’s equity raises across two transactions; and capital provider as part of a successful variable rate transaction for a digital infrastructure company.

 

Total Company debt reduction from September 30, 2024 to June 30, 2025 is estimated to be $600 million. As of June 30, 2025, estimated net debt (7) ranges from $809 million to $839 million and cash, cash equivalents and restricted cash of $268 million.

 

Realized cash proceeds from business sales of approximately $187 million from the sales of GlassRatner and Atlantic Coast Recycling.

 

Bond exchanges achieved approximately $126 million of debt reduction through five bond exchanges through July 2025.

 

 

www.brileyfin.com | NASDAQ: RILY 1

 

 

Secured $160 million senior facility with Oaktree Capital Management (“Oaktree”), which was paid down to $62.5 million along with an amendment to the senior facility to provide substantially increased flexibility.

 

Earned approximately $29 million in profits from the Company’s equity participation in the JOANN’s liquidation.

 

Hired new B. Riley Financial Chief Financial Officer, Scott Yessner, and added resources to support SEC filings.

 

Bryant Riley, Chairman and Co-Chief Executive Officer of B. Riley, commented: “We have taken aggressive, decisive and necessary action over the last year to align our balance sheet while continuing to invest in our business and operations. As we look forward, we are laser focused on our financial services businesses, which have seen increasing momentum facilitated by cash flows from our Telecom businesses.

 

“As demonstrated by the Great American transaction last year, and our subsequent JOANN’s liquidation equity investment, our strategic objective is to maintain both economic and business relationship upside throughout the process of rightsizing our balance sheet.

 

Scott Yessner, Chief Financial Officer of B. Riley, commented: “Our team has worked tirelessly through a complex audit, challenging operating environment, and delays outside their control. We are in the final stages of documenting the 2024 audit and will file the 10-K shortly. We added a national accounting firm to provide staff augmentation across multiple departments in accounting and financial operations in early July. With our combined teams, we have been documenting our 1st quarter and 2nd quarter filings during the 2024 10-K process. We expect to file both 10-Qs in 30 to 45 days after the 10-K.”

 

Tom Kelleher, Co-Chief Executive Officer of B. Riley, commented: “As exemplified in the B. Riley Securities recent announcement, many of our operating businesses continue to generate meaningful results. Separately, we will continue to ensure we have the best resources in place, assessing opportunities across our portfolio to invest and support our operating companies and balance the Company’s operational footprint.”

 

Summary of Preliminary Unaudited Estimates for the Six-Months Ended June 30, 2025

 

Net income is expected to range from $125.0 million to $145.0 million, which includes estimated gains on sale of $53 million from Atlantic Coast Recycling, $66 million from GlassRatner, and $55 million on senior note exchanges.

 

Net income from continuing operations is expected to range from $52.4 million to $72.4 million, which includes estimated gains on sale of $53 million from Atlantic Coast Recycling and $55 million on senior note exchanges..

 

Net income from discontinued operations is estimated to be $73.0 million, which includes estimated gains on sale of $66 million from GlassRatner.

 

Revenue is expected to range from $405.0 million to $425.0 million.

 

Operating adjusted EBITDA (4) from continuing operations is expected to range from $20.0 million to $26.0 million.

 

Debt is estimated to be $1.46 billion, with estimated net debt (7) ranging from $809.0 million to $839.0 million.

 

Cash, cash equivalents, and restricted cash are estimated to be $268.0 million. Securities and other investments owned, at fair value is expected to range from $231.0 million to $251.0 million. Total investments (6) are expected to range from $310.0 million to $340.0 million.

 

 

www.brileyfin.com | NASDAQ: RILY2

 

Basic and diluted earnings per common share (EPS) are expected to range from $4.10 and $4.75, and from $4.08 and $4.74, respectively.

 

Preliminary Year-End 2024 Summary

 

   Three Months Ended   Twelve Months Ended 
   December 31,   December 31, 
(Dollars in thousands, except for share data)  2024   2023   2024   2023 
                 
Net income (loss) available to common shareholders  $877   $(91,638)  $(772,334)  $(107,967)
                     
Basic income (loss) per common share  $0.03   $(3.03)  $(25.46)  $(3.69)
Diluted income (loss) per common share  $0.03   $(3.03)  $(25.46)  $(3.69)

 

   Three Months Ended   Twelve Months Ended 
   December 31,   December 31, 
(Dollars in thousands)  2024   2023   2024   2023 
                 
Operating Revenues (1)  $278,733   $363,602   $1,242,402   $1,453,114 
Investment (Loss) Gains (2)   (77,358)   (49,768)   (403,805)   12,663 
Total Revenues  $201,375   $313,834   $838,597   $1,465,777 
                     
Operating Adjusted EBITDA (4)  $21,489   $59,091   $126,399   $274,576 
Investment Adjusted EBITDA (5)   (129,048)   (132,740)   (669,196)   (150,706)
Total Adjusted EBITDA (3)  $(107,559)  $(73,649)  $(542,797)  $123,870 

 

Net loss applicable to common shareholders was $772.3 million due primarily to write downs of $510.0 million related to the equity investment in Freedom VCM Holdings LLC and loan receivable from Vintage Capital Management and impairment of goodwill and other intangible assets of $105.4 million.

 

Operating adjusted EBITDA (4) from continuing operations decreased 54.0% to $126.4 million, compared to $274.6 million in 2023.

 

Debt was $1.77 billion and net debt (7) was $1.06 billion at year end 2024, compared to $2.36 billion and $0.76 billion at year end 2023, respectively.

 

Cash, cash equivalents, and restricted cash increased 13.7% to $255.4 million at year end 2024 compared to $224.6 million at year end 2023, securities and other investments owned, at fair value decreased 65.1% to $282.3 million compared to $809.0 million at year end 2023, and total investments (6) decreased 67.3% to $432.6 million at year end 2024 compared to $1.32 billion at year end 2023.

 

 

www.brileyfin.com | NASDAQ: RILY3

 

Preliminary Fourth Quarter 2024 Summary

 

Net income available to common shareholders was $0.9 million, an increase from the 4th quarter 2023 net loss available to common shareholders of $91.6 million.

 

Operating adjusted EBITDA (4) from continuing operations decreased 63.6% to $21.5 million, compared to $59.1 million in the 4th quarter 2023.

 

Additional Updates

 

Oaktree Capital Management Financing: The Company amended its senior secured credit agreement with funds managed by Oaktree to provide incremental flexibility, including:

 

A new investment basket that enables an incremental $100 million to facilitate transactions using the Company’s balance sheet;

 

A $30 million investment basket for parent company investments upsized from $20 million; and

 

The ability to deploy up to $25 million of cash to reduce other indebtedness through potential repurchases of the Company’s unsecured notes.

 

In February 2025, the Company entered into its initial senior secured credit agreement with Oaktree, a portion of which was used to retire its existing debt under the Nomura senior secured credit agreement, with the remaining funds used for general working capital.

 

The Preliminary Fourth Quarter, Full Year 2024, and First Half 2025 update are not a comprehensive statement of the Company’s financial results, and are unaudited and subject to change.

 

About B. Riley Financial

 

B. Riley Financial (BRF) is a diversified financial services company that through its operating entities or affiliates deliver tailored solutions to meet the strategic, operational, and capital needs of its clients and partners. BRF leverages cross-platform expertise to provide clients with full service, collaborative solutions at every stage of the business life cycle. Through its subsidiaries and affiliated entities, BRF provides end-to-end financial services across investment banking, institutional brokerage, private wealth and investment management, financial consulting, corporate restructuring, appraisal and valuation, auction, and liquidation services. BRF opportunistically invests to benefit its shareholders, and certain affiliates originate and underwrite senior secured loans for asset-rich companies. BRF refers to B. Riley Financial, Inc. and/or one or more of its subsidiaries or affiliates. For more information, please visit www.brileyfin.com. For more information, please visit www.brileyfin.com.

 

 

www.brileyfin.com | NASDAQ: RILY4

 

Footnotes

 

See “Note Regarding Use of Non-GAAP Financial Measures” for further discussion of these non-GAAP terms. For a reconciliation of Adjusted EBITDA, and Operating Adjusted EBITDA to the comparable GAAP financial measures, please see the Appendix hereto.

 

(1) Operating Revenues is defined as the sum of (i) service and fees, (ii) interest income – loans, (iii) interest Income - securities lending, (iv) fixed income spread, and (v) sales of goods.

 

(2) Investment Gains (Losses) is defined as sum of (i) trading income (loss) and (ii) fair value adjustments on loans less fixed income spread.

 

(3) Adjusted EBITDA includes earnings from continuing operations before interest, taxes, depreciation, amortization, restructuring charge, share-based payments, gain or loss on extinguishment of loans, gain on bargain purchase, impairment of goodwill and tradenames, and transaction related and other costs.

 

(4) Operating Adjusted EBITDA is defined as Adjusted EBITDA excluding (i) trading income (loss) net of fixed income spread, (ii) fair value adjustments on loans, (iii) realized and unrealized gains (losses) on investments, and (iv) other investment-related expenses.

 

(5) Investment Adjusted EBITDA is defined as the sum of (i) trading income (loss) net of fixed income spread, (ii) fair value adjustments on loans, (iii) realized and unrealized gains (losses) on investments, and (iv) other investment-related expenses.

 

(6) Total Investments is defined as the sum of (a) securities and other investments owned, at fair value net of (i) securities sold not yet purchased and (ii) noncontrolling interest related to investments from continuing operations, (b) loans receivable, at fair value net of loan participations sold, and (c) other investments reported in prepaid and other assets.

 

(7) Net Debt is defined as the sum of (a) term loans, net, (b) senior notes payable, net, (c) revolving credit facility, and (d) notes payable, net of (i) cash and cash equivalents, net of noncontrolling interest, (ii) restricted cash, (iii) due from clearing brokers net of due to clearing brokers, and (iv) Total Investments.

 

 

www.brileyfin.com | NASDAQ: RILY5

 

Note Regarding Use of Non-GAAP Financial Measures

 

Certain of the information set forth herein, including Adjusted EBITDA, Operating Adjusted EBITDA, Investment Adjusted EBITDA, Operating Revenues, Investment Gains (Losses), Total Investments, and Net Debt, may be considered non-GAAP financial measures. B. Riley Financial believes this information is useful to investors because it provides a basis for measuring the Company’s available capital resources, the operating performance of its business and its revenues and cash flow, (i) excluding in the case of Adjusted EBITDA, net interest expense, provisions for or benefit from income taxes, depreciation, amortization, fair value adjustment, restructuring charge, gain on extinguishment of loans, gain on bargain purchase, impairment of goodwill and tradenames, stock-based compensation and transaction and other expenses, (ii) excluding in the case of Operating Adjusted EBITDA, the aforementioned adjustments for adjusted EBITDA as well as trading income (losses) net of fixed income spread, fair value adjustments on loans, realized and unrealized gains (losses) on investments, and other investment related expenses, (iii) including in the case of Investment Adjusted EBITDA, trading income (losses) net of fixed income spread, fair value adjustments on loans, realized and unrealized gains (losses) on investments, and other investment related expenses, (iv) excluding in the case of Operating Revenues, trading income (loss) and fair value adjustments on loans less fixed income spread, (v) including in the case of Investment Gains (Losses), the aforementioned excluded items of Operating Revenues, (vi) including in the case of Total Investments, securities and other investments owned, at fair value net of (a) securities sold not yet purchased and (b) noncontrolling interest related to investments from continuing operations, loans receivable, at fair value net of loan participations sold, and other investments reported in prepaid and other assets, (vii) including in the case of Net Debt, term loans, net, senior notes payable, net, revolving credit facility, and notes payable net of (a) cash and cash equivalents, net of noncontrolling interest, (b) restricted cash, (c) due from clearing brokers net of due to clearing brokers, and (d) aforementioned included items of Total Investments, that would normally be included in the most directly comparable measures calculated and presented in accordance with Generally Accepted Accounting Principles (“GAAP”). In addition, the Company’s management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measures in evaluating the Company’s operating performance, management compensation, capital resources, and cash flow. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP, and non-financial measures as reported by the Company may not be comparable to similarly titled amounts reported by other companies.

 

Forward-Looking Statements

 

Statements made in this press release that are not descriptions of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management’s current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition, and stock price could be materially negatively affected. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and speak only as of today’s date. All statements other than statements of historical fact are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s performance or achievements to be materially different from any expected future results, performance, or achievements. Forward-looking statements speak only as of the date they are made and the Company assumes no duty to update forward-looking statements, except as required by law. Actual future results, performance or achievements may differ materially from historical results or those anticipated depending on a variety of factors, some of which are beyond the control of the Company, including, but not limited to, the risks described from time to time in the Company’s periodic filings with the SEC, including, without limitation, the risks described in the Company’s 2023 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” (as applicable). These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and the Company undertakes no duty to update this information.

 

 

www.brileyfin.com | NASDAQ: RILY6

 

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Condensed Consolidated Balance Sheets

(Unaudited)

(Dollars in thousands, except par value)

 

   December 31,   December 31, 
   2024   2023 
         
Assets        
Assets        
Cash and cash equivalents  $154,877   $222,690 
Restricted cash   100,475    1,875 
Due from clearing brokers   30,713    51,334 
Securities and other investments owned, at fair value   282,325    809,049 
Securities borrowed   43,022    2,870,939 
Accounts receivable, net of allowance for credit losses of $10,073 and $7,175 as of December 31, 2024 and December 31, 2023, respectively   88,384    101,036 
Due from related parties   162    172 
Loans receivable, at fair value (includes $51,902 and $378,768 from related parties as of December 31, 2024 and December 31, 2023, respectively)   90,103    532,419 
Prepaid expenses and other assets (includes $3,449 and $11,802 from related parties as of December 31, 2024 and December 31, 2023, respectively)   252,344    241,862 
Operating lease right-of-use assets   53,767    87,167 
Property and equipment, net   18,954    25,206 
Goodwill   423,136    466,638 
Other intangible assets, net   146,885    198,245 
Deferred income taxes   13,393    33,631 
Assets held for sale   84,723     
Assets of discontinued operations       438,341 
Total assets  $1,783,263   $6,080,604 
Liabilities and Equity (Deficit)          
Liabilities          
Accounts payable  $52,564   $43,992 
Accrued expenses and other liabilities   203,196    252,876 
Deferred revenue   58,153    70,575 
Deferred income taxes   5,462     
Due to related parties and partners   3,404    2,480 
Securities sold not yet purchased   5,675    8,601 
Securities loaned   27,942    2,859,306 
Operating lease liabilities   61,038    98,088 
Notes payable   28,021    19,391 
Loan participations sold   6,000     
Revolving credit facility   16,329    43,801 
Term loans, net   199,429    625,151 
Senior notes payable, net   1,530,561    1,668,021 
Liabilities held for sale   41,505     
Liabilities of discontinued operations       28,756 
Total liabilities   2,239,279    5,721,038 
           
Commitments and contingencies          
B. Riley Financial, Inc. stockholders’ equity:          
Preferred stock, $0.0001 par value; 1,000,000 shares authorized; 4,563 issued and outstanding as of December 31, 2024 and December 31, 2023; liquidation preference of $114,082 as of December 31, 2024 and December 31, 2023.        
Common stock, $0.0001 par value; 100,000,000 shares authorized; 30,499,931 and 29,937,067 issued and outstanding as of December 31, 2024 and December 31, 2023, respectively.   3    3 
Additional paid-in capital   589,387    572,170 
Accumulated deficit   (1,070,996)   (281,285)
Accumulated other comprehensive (loss) income   (6,569)   229 
Total B. Riley Financial, Inc. stockholders’ equity (deficit)   (488,175)   291,117 
Noncontrolling interests   32,159    68,449 
Total equity (deficit)   (456,016)   359,566 
Total liabilities and equity (deficit)  $1,783,263   $6,080,604 

 

 

www.brileyfin.com | NASDAQ: RILY7

 

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Consolidated Statement of Operations

(Unaudited)

(Dollars in thousands, except share data)

 

   Three Months Ended   Twelve Months Ended 
   December 31,   December 31, 
   2024   2023   2024   2023 
Revenues:                
Services and fees (includes $18,575 and $6,143 for the years ended December 31, 2024 and 2023 from related parties, respectively)  $214,534   $236,569   $875,480   $898,750 
Trading (loss) income   (6,781)   (10,120)   (57,007)   21,603 
Fair value adjustments on loans (includes $(328,671) and $(36,788) for the years ended December 31, 2024 and 2023 from related parties, respectively)   (66,238)   (31,398)   (325,498)   20,225 
Interest income - loans (includes $33,186 and $26,563 for the years ended December 31, 2024 and 2023 from related parties, respectively)   2,247    20,709    54,141    123,244 
Interest income - securities lending   1,248    42,072    70,862    161,652 
Sale of goods   56,365    56,002    220,619    240,303 
Total revenues   201,375    313,834    838,597    1,465,777 
Operating expenses:                    
Direct cost of services   45,893    57,692    213,901    214,065 
Cost of goods sold   48,737    43,346    167,634    172,836 
Selling, general and administrative expenses   188,180    190,371    759,777    764,926 
Restructuring charge   597    1,182    1,522    2,131 
Impairment of goodwill and other intangible assets   77,692    33,100    105,373    70,333 
Interest expense - Securities lending and loan participations sold   1,073    38,863    66,128    145,435 
Total operating expenses   362,172    364,554    1,314,335    1,369,726 
Operating (loss) income   (160,797)   (50,720)   (475,738)   96,051 
Other income (expense):                    
Interest income   712    420    3,621    3,875 
Dividend income   323    3,206    4,462    12,747 
Realized and unrealized losses on investments   (51,324)   (85,033)   (263,686)   (162,053)
Change in fair value of financial instruments and other   3,987        4,614    (3,998)
Gain on bargain purchase       15,903        15,903 
Income (loss) from equity method investments   19    23    31    (152)
Loss on extinguishment of debt   (12,945)       (18,725)   (5,409)
Interest expense   (31,113)   (37,610)   (133,308)   (156,240)
Loss from continuing operations before income taxes   (251,138)   (153,811)   (878,729)   (199,276)
(Provision for) Benefit from income taxes   (4,210)   42,160    (22,125)   39,115 
Loss from continuing operations   (255,348)   (111,651)   (900,854)   (160,161)
Income from discontinued operations, net of income taxes   249,742    21,987    125,915    54,530 
Net loss   (5,606)   (89,664)   (774,939)   (105,631)
Net loss attributable to noncontrolling interests and redeemable noncontrolling interests   (8,498)   (41)   (10,665)   (5,721)
Net income (loss) attributable to B. Riley Financial, Inc.   2,892    (89,623)   (764,274)   (99,910)
Preferred stock dividends   2,015    2,015    8,060    8,057 
Net income (loss) available to common shareholders  $877   $(91,638)  $(772,334)  $(107,967)
                     
Basic and diluted income (loss) per common share:                    
Continuing operations  $(8.16)  $(3.67)  $(29.67)  $(5.38)
Discontinued operations   8.19    0.64    4.21    1.69 
Basic and diluted income (loss) per common share  $0.03   $(3.03)  $(25.46)  $(3.69)
                     
Weighted average basic and diluted common shares outstanding   30,499,931    30,248,946    30,336,274    29,265,099 

 

 

www.brileyfin.com | NASDAQ: RILY8

 

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Adjusted EBITDA and Operating Adjusted EBITDA Reconciliations

(Unaudited)

(Dollars in thousands)

 

   Three Months Ended   Twelve Months Ended 
   December 31,   December 31, 
   2024   2023   2024   2023 
Net income (loss) attributable to B. Riley Financial, Inc.  $2,892   $(89,623)  $(764,274)  $(99,910)
Income from discontinued operations, net of income taxes   249,742    21,987    125,915    54,530 
Net loss attributable to noncontrolling interests and redeemable noncontrolling interests   8,498    41    10,665    5,721 
Loss from continuing operations   (255,348)   (111,651)   (900,854)   (160,161)
Adjustments:                    
Net loss attributable to noncontrolling interests   8,523    2,730    8,920    10,779 
Provision for (benefit from) income taxes   4,210    (42,160)   22,125    (39,115)
Interest expense   31,113    37,610    133,308    156,240 
Interest income   (712)   (420)   (3,621)   (3,875)
Share based payments   2,245    9,287    18,449    42,553 
Depreciation and amortization   11,278    11,462    45,312    49,203 
Restructuring charge   597    1,182    1,522    2,131 
Gain on bargain purchase       (15,903)       (15,903)
Loss on extinguishment of loans   12,945        18,725    5,409 
Impairment of goodwill and other intangible assets   77,692    33,100    105,373    70,333 
Transactions related costs and other   (102)   1,114    7,944    6,276 
Total EBITDA adjustments   147,789    38,002    358,057    284,031 
Adjusted EBITDA  $(107,559)  $(73,649)  $(542,797)  $123,870 
                     
Operating EBITDA Adjustments:                    
Trading loss (income)   6,781    10,120    57,007    (21,603)
Fair value adjustments on loans   66,238    31,398    325,498    (20,225)
Realized and unrealized losses on investments   51,324    85,033    263,686    162,053 
Fixed income spread   4,339    8,250    21,300    29,165 
Other investment related expenses   366    (2,061)   1,705    1,316 
Total Operating EBITDA Adjustments   129,048    132,740    669,196    150,706 
Operating Adjusted EBITDA  $21,489   $59,091   $126,399   $274,576 

 

 

www.brileyfin.com | NASDAQ: RILY9

 

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Operating Revenues Reconciliation

(Unaudited)

(Dollars in thousands)

 

   Three Months Ended   Twelve Months Ended 
   December 31,   December 31, 
   2024   2023   2024   2023 
Total revenues  $201,375   $313,834   $838,597   $1,465,777 
Operating revenues adjustments:                    
Trading loss (income)   6,781    10,120    57,007    (21,603)
Fair value adjustments on loans   66,238    31,398    325,498    (20,225)
Fixed income spread   4,339    8,250    21,300    29,165 
Total revenues adjustments   77,358    49,768    403,805    (12,663)
Operating revenues  $278,733   $363,602   $1,242,402   $1,453,114 

 

 

www.brileyfin.com | NASDAQ: RILY10

 

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Preliminary Total Investments and Net Debt

(Unaudited)

(Dollars in thousands)

 

   December 31,   December 31, 
   2024   2023 
         
Cash, cash equivalents, and restricted cash  $255,352   $224,565 
Due from clearing brokers   30,713    51,334 
           
Securities and other investments owned, at fair value   282,325    809,049 
Securities sold not yet purchased   (5,675)   (8,601)
Loans receivable, at fair value   90,103    532,419 
Loan participations sold   (6,000)    
Other investments reported in prepaid and other assets   100,080    14,582 
Noncontrolling interest   (28,217)   (23,480)
Total investments   432,616    1,323,969 
           
Notes payable   28,021    19,391 
Revolving credit facility   16,329    43,801 
Term loans, net   199,429    625,151 
Senior notes payable, net   1,530,561    1,668,021 
Total debt   1,774,340    2,356,364 
           
Net debt  $1,055,659   $756,496 

 

 

www.brileyfin.com | NASDAQ: RILY11

 

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Estimated Adjusted EBITDA and Operating Adjusted EBITDA Reconciliations

(Unaudited)

(Dollars in thousands)

 

   Estimated Range 
   Six Months Ended 
   June 30, 2025 
   Low   High 
Net income available to common shareholders  $125,000   $145,000 
Preferred stock dividends        
Net income attributable to B. Riley Financial, Inc.   125,000    145,000 
Income from discontinued operations net of income taxes   73,000    73,000 
Net income attributable to noncontrolling interests
and redeemable noncontrolling interests
   (400)   (400)
Net income from continuing operations   52,400    72,400 
Adjustments:          
Net income attributable to noncontrolling interests   (400)   (400)
Provision for income taxes   (3,000)    
Interest expense   55,600    56,000 
Interest income   (2,000)   (2,000)
Share based payments   8,000    8,000 
Depreciation and amortization   18,600    19,000 
Restructuring charge   200    400 
Net gain on extinguishment of loans and exchange of senior notes   (40,000)   (38,000)
Transactions related costs, gains on divestures, and other   (84,000)   (75,000)
Total EBITDA adjustments   (47,000)   (32,000)
Adjusted EBITDA  $5,400   $40,400 
           
Operating EBITDA Adjustments:          
Trading income   (8,000)   (12,000)
Fair value adjustments on loans   3,000    (7,000)
Realized and unrealized (gain) losses on investments   12,000    (4,000)
Fixed Income Spread   6,600    7,600 
Other investment related expenses   1,000    1,000 
Total Operating EBITDA Adjustments   14,600    (14,400)
Operating Adjusted EBITDA  $20,000   $26,000 

 

 

www.brileyfin.com | NASDAQ: RILY12

 

B. RILEY FINANCIAL, INC. AND SUBSIDIARIES

Estimated Total Investments and Net Debt

(Unaudited)

(Dollars in thousands)

 

   Estimated Range 
   June 30, 
   2025 
   Low   High 
Cash, cash equivalents, and restricted cash  $268,000   $268,000 
Due from clearing brokers   46,000    46,000 
           
Securities and other investments owned, at fair value   231,000    251,000 
Securities sold not yet purchased   (13,000)   (13,000)
Loans receivable, at fair value   51,000    60,000 
Loan participations sold   (11,000)   (11,000)
Other investments reported in prepaid and other assets   82,000    83,000 
Noncontrolling interest   (30,000)   (30,000)
Total investments   310,000    340,000 
           
Revolving credit facility   12,000    12,000 
Term loans, net   127,000    127,000 
Senior notes payable, net   1,324,000    1,324,000 
Total debt   1,463,000    1,463,000 
           
Net debt  $839,000   $809,000 

 

# # #

 

Contacts

 

Investors

ir@brileyfin.com

 

Media 

press@bileyfin.com

 

 

www.brileyfin.com | NASDAQ: RILY13

 

v3.25.2
Cover
Aug. 07, 2025
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 07, 2025
Entity File Number 001-37503
Entity Registrant Name B. RILEY FINANCIAL, INC.
Entity Central Index Key 0001464790
Entity Tax Identification Number 27-0223495
Entity Incorporation, State or Country Code DE
Entity Address, Address Line One 11100 Santa Monica Blvd.
Entity Address, Address Line Two Suite 800
Entity Address, City or Town Los Angeles
Entity Address, State or Province CA
Entity Address, Postal Zip Code 90025
City Area Code 310
Local Phone Number 966-1444
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock, par value $0.0001 per share  
Title of 12(b) Security Common Stock, par value $0.0001 per share
Trading Symbol RILY
Security Exchange Name NASDAQ
Depositary Shares (each representing a 1/1000th interest in a 6.875% Series A Cumulative Perpetual Preferred Share, par value $0.0001 per share)  
Title of 12(b) Security Depositary Shares (each representing a 1/1000th interest in a 6.875% Series A Cumulative Perpetual Preferred Share, par value $0.0001 per share)
Trading Symbol RILYP
Security Exchange Name NASDAQ
Depositary Shares, each representing a 1/1000th fractional interest in a 7.375% share of Series B Cumulative Perpetual Preferred Stock  
Title of 12(b) Security Depositary Shares, each representing a 1/1000th fractional interest in a 7.375% share of Series B Cumulative Perpetual Preferred Stock
Trading Symbol RILYL
Security Exchange Name NASDAQ
5.00% Senior Notes due 2026  
Title of 12(b) Security 5.00% Senior Notes due 2026
Trading Symbol RILYG
Security Exchange Name NASDAQ
5.50% Senior Notes due 2026  
Title of 12(b) Security 5.50% Senior Notes due 2026
Trading Symbol RILYK
Security Exchange Name NASDAQ
6.50% Senior Notes due 2026  
Title of 12(b) Security 6.50% Senior Notes due 2026
Trading Symbol RILYN
Security Exchange Name NASDAQ
5.25% Senior Notes due 2028  
Title of 12(b) Security 5.25% Senior Notes due 2028
Trading Symbol RILYZ
Security Exchange Name NASDAQ
6.00% Senior Notes due 2028  
Title of 12(b) Security 6.00% Senior Notes due 2028
Trading Symbol RILYT
Security Exchange Name NASDAQ

{
 "version": "2.2",
 "instance": {
  "ea0252682-8k_briley.htm": {
   "nsprefix": "RILY",
   "nsuri": "http://brileyfin.com/20250807",
   "dts": {
    "inline": {
     "local": [
      "ea0252682-8k_briley.htm"
     ]
    },
    "schema": {
     "local": [
      "rily-20250807.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd",
      "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "https://www.xbrl.org/dtr/type/2022-03-31/types.xsd",
      "https://www.xbrl.org/dtr/type/2024-01-31/types.xsd",
      "https://xbrl.fasb.org/srt/2025/elts/srt-2025.xsd",
      "https://xbrl.fasb.org/srt/2025/elts/srt-roles-2025.xsd",
      "https://xbrl.fasb.org/srt/2025/elts/srt-types-2025.xsd",
      "https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd",
      "https://xbrl.fasb.org/us-gaap/2025/elts/us-roles-2025.xsd",
      "https://xbrl.fasb.org/us-gaap/2025/elts/us-types-2025.xsd",
      "https://xbrl.sec.gov/country/2025/country-2025.xsd",
      "https://xbrl.sec.gov/dei/2025/dei-2025.xsd",
      "https://xbrl.sec.gov/stpr/2025/stpr-2025.xsd"
     ]
    },
    "definitionLink": {
     "local": [
      "rily-20250807_def.xml"
     ]
    },
    "labelLink": {
     "local": [
      "rily-20250807_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "rily-20250807_pre.xml"
     ]
    }
   },
   "keyStandard": 23,
   "keyCustom": 0,
   "axisStandard": 1,
   "axisCustom": 0,
   "memberStandard": 0,
   "memberCustom": 8,
   "hidden": {
    "total": 2,
    "http://xbrl.sec.gov/dei/2025": 2
   },
   "contextCount": 9,
   "entityCount": 1,
   "segmentCount": 8,
   "elementCount": 71,
   "unitCount": 3,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/dei/2025": 44
   },
   "report": {
    "R1": {
     "role": "http://brileyfin.com/role/Cover",
     "longName": "00000001 - Document - Cover",
     "shortName": "Cover",
     "isDefault": "true",
     "groupType": "document",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": {
      "contextRef": "AsOf2025-08-07",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "ea0252682-8k_briley.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "AsOf2025-08-07",
      "name": "dei:DocumentType",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "span",
       "b",
       "p",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "ea0252682-8k_briley.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "dei_AmendmentDescription": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "AmendmentDescription",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Description",
        "documentation": "Description of changes contained within amended document."
       }
      }
     },
     "auth_ref": []
    },
    "dei_AmendmentFlag": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "AmendmentFlag",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amendment Flag",
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission."
       }
      }
     },
     "auth_ref": []
    },
    "dei_AnnualInformationForm": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "AnnualInformationForm",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Annual Information Form",
        "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_AuditedAnnualFinancialStatements": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "AuditedAnnualFinancialStatements",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Audited Annual Financial Statements",
        "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_CityAreaCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "CityAreaCode",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "City Area Code",
        "documentation": "Area code of city"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_ClassOfStockDomain": {
     "xbrltype": "domainItemType",
     "nsuri": "http://fasb.org/us-gaap/2025",
     "localname": "ClassOfStockDomain",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "auth_ref": []
    },
    "RILY_CommonStockParValue0.0001PerShareMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://brileyfin.com/20250807",
     "localname": "CommonStockParValue0.0001PerShareMember",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Common Stock, par value $0.0001 per share"
       }
      }
     },
     "auth_ref": []
    },
    "dei_CountryRegion": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "CountryRegion",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Country Region",
        "documentation": "Region code of country"
       }
      }
     },
     "auth_ref": []
    },
    "dei_CoverAbstract": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "CoverAbstract",
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Cover page."
       }
      }
     },
     "auth_ref": []
    },
    "dei_CurrentFiscalYearEndDate": {
     "xbrltype": "gMonthDayItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "CurrentFiscalYearEndDate",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Current Fiscal Year End Date",
        "documentation": "End date of current fiscal year in the format --MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "RILY_DepositarySharesEachRepresenting11000thFractionalInterestIn7.375ShareOfSeriesBCumulativePerpetualPreferredStockMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://brileyfin.com/20250807",
     "localname": "DepositarySharesEachRepresenting11000thFractionalInterestIn7.375ShareOfSeriesBCumulativePerpetualPreferredStockMember",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Depositary Shares, each representing a 1/1000th fractional interest in a 7.375% share of Series B Cumulative Perpetual Preferred Stock"
       }
      }
     },
     "auth_ref": []
    },
    "RILY_DepositarySharesEachRepresenting11000thInterestIn6.875SeriesCumulativePerpetualPreferredShareParValue0.0001PerShareMember": {
     "xbrltype": "domainItemType",
     "nsuri": "http://brileyfin.com/20250807",
     "localname": "DepositarySharesEachRepresenting11000thInterestIn6.875SeriesCumulativePerpetualPreferredShareParValue0.0001PerShareMember",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Depositary Shares (each representing a 1/1000th interest in a 6.875% Series A Cumulative Perpetual Preferred Share, par value $0.0001 per share)"
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentAccountingStandard": {
     "xbrltype": "accountingStandardItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentAccountingStandard",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Accounting Standard",
        "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentAnnualReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentAnnualReport",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Annual Report",
        "documentation": "Boolean flag that is true only for a form used as an annual report."
       }
      }
     },
     "auth_ref": [
      "r11",
      "r13",
      "r14"
     ]
    },
    "dei_DocumentFiscalPeriodFocus": {
     "xbrltype": "fiscalPeriodItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentFiscalPeriodFocus",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Fiscal Period Focus",
        "documentation": "Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentFiscalYearFocus": {
     "xbrltype": "gYearItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentFiscalYearFocus",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Fiscal Year Focus",
        "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentPeriodEndDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentPeriodEndDate",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period End Date",
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentPeriodStartDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentPeriodStartDate",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Period Start Date",
        "documentation": "The start date of the period covered in the document, in YYYY-MM-DD format."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentQuarterlyReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentQuarterlyReport",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Quarterly Report",
        "documentation": "Boolean flag that is true only for a form used as an quarterly report."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "dei_DocumentRegistrationStatement": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentRegistrationStatement",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Registration Statement",
        "documentation": "Boolean flag that is true only for a form used as a registration statement."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_DocumentShellCompanyEventDate": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentShellCompanyEventDate",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Shell Company Event Date",
        "documentation": "Date of event requiring a shell company report."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentShellCompanyReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentShellCompanyReport",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Shell Company Report",
        "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_DocumentTransitionReport": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentTransitionReport",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Transition Report",
        "documentation": "Boolean flag that is true only for a form used as a transition report."
       }
      }
     },
     "auth_ref": [
      "r15"
     ]
    },
    "dei_DocumentType": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentType",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Document Type",
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'."
       }
      }
     },
     "auth_ref": []
    },
    "dei_DocumentsIncorporatedByReferenceTextBlock": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "DocumentsIncorporatedByReferenceTextBlock",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Documents Incorporated by Reference [Text Block]",
        "documentation": "Documents incorporated by reference."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "dei_EntityAddressAddressLine1": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityAddressAddressLine1",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line One",
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine2": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityAddressAddressLine2",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line Two",
        "documentation": "Address Line 2 such as Street or Suite number"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressAddressLine3": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityAddressAddressLine3",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Address Line Three",
        "documentation": "Address Line 3 such as an Office Park"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressCityOrTown": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityAddressCityOrTown",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, City or Town",
        "documentation": "Name of the City or Town"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressCountry": {
     "xbrltype": "countryCodeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityAddressCountry",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Country",
        "documentation": "ISO 3166-1 alpha-2 country code."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressPostalZipCode": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityAddressPostalZipCode",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, Postal Zip Code",
        "documentation": "Code for the postal or zip code"
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityAddressStateOrProvince": {
     "xbrltype": "stateOrProvinceItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityAddressStateOrProvince",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Address, State or Province",
        "documentation": "Name of the state or province."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityBankruptcyProceedingsReportingCurrent": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityBankruptcyProceedingsReportingCurrent",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Bankruptcy Proceedings, Reporting Current",
        "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not. Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityCommonStockSharesOutstanding": {
     "xbrltype": "sharesItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityCommonStockSharesOutstanding",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Common Stock, Shares Outstanding",
        "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityCurrentReportingStatus": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityCurrentReportingStatus",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Current Reporting Status",
        "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityEmergingGrowthCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityEmergingGrowthCompany",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Emerging Growth Company",
        "documentation": "Indicate if registrant meets the emerging growth company criteria."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityExTransitionPeriod": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityExTransitionPeriod",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Elected Not To Use the Extended Transition Period",
        "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards."
       }
      }
     },
     "auth_ref": [
      "r19"
     ]
    },
    "dei_EntityFileNumber": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityFileNumber",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity File Number",
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityFilerCategory": {
     "xbrltype": "filerCategoryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityFilerCategory",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Filer Category",
        "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityIncorporationStateCountryCode": {
     "xbrltype": "edgarStateCountryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityIncorporationStateCountryCode",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Incorporation, State or Country Code",
        "documentation": "Two-character EDGAR code representing the state or country of incorporation."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityInteractiveDataCurrent": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityInteractiveDataCurrent",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Interactive Data Current",
        "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files)."
       }
      }
     },
     "auth_ref": [
      "r16"
     ]
    },
    "dei_EntityPrimarySicNumber": {
     "xbrltype": "sicNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityPrimarySicNumber",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Primary SIC Number",
        "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity."
       }
      }
     },
     "auth_ref": [
      "r14"
     ]
    },
    "dei_EntityPublicFloat": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityPublicFloat",
     "crdr": "credit",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Public Float",
        "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityShellCompany": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityShellCompany",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Shell Company",
        "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntitySmallBusiness": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntitySmallBusiness",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Small Business",
        "documentation": "Indicates that the company is a Smaller Reporting Company (SRC)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityTaxIdentificationNumber": {
     "xbrltype": "employerIdItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityTaxIdentificationNumber",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Tax Identification Number",
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "dei_EntityVoluntaryFilers": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityVoluntaryFilers",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Voluntary Filers",
        "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act."
       }
      }
     },
     "auth_ref": []
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "xbrltype": "yesNoItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "EntityWellKnownSeasonedIssuer",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Well-known Seasoned Issuer",
        "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A."
       }
      }
     },
     "auth_ref": [
      "r17"
     ]
    },
    "dei_Extension": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "Extension",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Extension",
        "documentation": "Extension number for local phone number."
       }
      }
     },
     "auth_ref": []
    },
    "dei_LocalPhoneNumber": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "LocalPhoneNumber",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Local Phone Number",
        "documentation": "Local phone number for entity."
       }
      }
     },
     "auth_ref": []
    },
    "dei_NoTradingSymbolFlag": {
     "xbrltype": "trueItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "NoTradingSymbolFlag",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "No Trading Symbol Flag",
        "documentation": "Boolean flag that is true only for a security having no trading symbol."
       }
      }
     },
     "auth_ref": []
    },
    "dei_OtherReportingStandardItemNumber": {
     "xbrltype": "otherReportingStandardItemNumberItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "OtherReportingStandardItemNumber",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Other Reporting Standard Item Number",
        "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS."
       }
      }
     },
     "auth_ref": [
      "r13"
     ]
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "PreCommencementIssuerTenderOffer",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre-commencement Issuer Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r7"
     ]
    },
    "dei_PreCommencementTenderOffer": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "PreCommencementTenderOffer",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Pre-commencement Tender Offer",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r9"
     ]
    },
    "RILY_Sec5.00SeniorNotesDue2026Member": {
     "xbrltype": "domainItemType",
     "nsuri": "http://brileyfin.com/20250807",
     "localname": "Sec5.00SeniorNotesDue2026Member",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "5.00% Senior Notes due 2026"
       }
      }
     },
     "auth_ref": []
    },
    "RILY_Sec5.25SeniorNotesDue2028Member": {
     "xbrltype": "domainItemType",
     "nsuri": "http://brileyfin.com/20250807",
     "localname": "Sec5.25SeniorNotesDue2028Member",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "5.25% Senior Notes due 2028"
       }
      }
     },
     "auth_ref": []
    },
    "RILY_Sec5.50SeniorNotesDue2026Member": {
     "xbrltype": "domainItemType",
     "nsuri": "http://brileyfin.com/20250807",
     "localname": "Sec5.50SeniorNotesDue2026Member",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "5.50% Senior Notes due 2026"
       }
      }
     },
     "auth_ref": []
    },
    "RILY_Sec6.00SeniorNotesDue2028Member": {
     "xbrltype": "domainItemType",
     "nsuri": "http://brileyfin.com/20250807",
     "localname": "Sec6.00SeniorNotesDue2028Member",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "6.00% Senior Notes due 2028"
       }
      }
     },
     "auth_ref": []
    },
    "RILY_Sec6.50SeniorNotesDue2026Member": {
     "xbrltype": "domainItemType",
     "nsuri": "http://brileyfin.com/20250807",
     "localname": "Sec6.50SeniorNotesDue2026Member",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "6.50% Senior Notes due 2026"
       }
      }
     },
     "auth_ref": []
    },
    "dei_Security12bTitle": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "Security12bTitle",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Title of 12(b) Security",
        "documentation": "Title of a 12(b) registered security."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "dei_Security12gTitle": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "Security12gTitle",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Title of 12(g) Security",
        "documentation": "Title of a 12(g) registered security."
       }
      }
     },
     "auth_ref": [
      "r5"
     ]
    },
    "dei_SecurityExchangeName": {
     "xbrltype": "edgarExchangeCodeItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "SecurityExchangeName",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Security Exchange Name",
        "documentation": "Name of the Exchange on which a security is registered."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "dei_SecurityReportingObligation": {
     "xbrltype": "securityReportingObligationItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "SecurityReportingObligation",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Security Reporting Obligation",
        "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r10"
     ]
    },
    "dei_SolicitingMaterial": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "SolicitingMaterial",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Soliciting Material",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act."
       }
      }
     },
     "auth_ref": [
      "r8"
     ]
    },
    "us-gaap_StatementClassOfStockAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://fasb.org/us-gaap/2025",
     "localname": "StatementClassOfStockAxis",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Class of Stock [Axis]"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_StatementLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://fasb.org/us-gaap/2025",
     "localname": "StatementLineItems",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Statement [Line Items]"
       }
      }
     },
     "auth_ref": []
    },
    "us-gaap_StatementTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://fasb.org/us-gaap/2025",
     "localname": "StatementTable",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Statement [Table]"
       }
      }
     },
     "auth_ref": []
    },
    "dei_TradingSymbol": {
     "xbrltype": "tradingSymbolItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "TradingSymbol",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Trading Symbol",
        "documentation": "Trading symbol of an instrument as listed on an exchange."
       }
      }
     },
     "auth_ref": []
    },
    "dei_WrittenCommunications": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2025",
     "localname": "WrittenCommunications",
     "presentation": [
      "http://brileyfin.com/role/Cover"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Written Communications",
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act."
       }
      }
     },
     "auth_ref": [
      "r18"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-23"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "g"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12, 13, 15d"
  },
  "r7": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r8": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "14a",
   "Subsection": "12"
  },
  "r9": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r10": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "15",
   "Subsection": "d"
  },
  "r11": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 10-K",
   "Number": "249",
   "Section": "310"
  },
  "r12": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 10-Q",
   "Number": "240",
   "Section": "308",
   "Subsection": "a"
  },
  "r13": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 20-F",
   "Number": "249",
   "Section": "220",
   "Subsection": "f"
  },
  "r14": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Form 40-F",
   "Number": "249",
   "Section": "240",
   "Subsection": "f"
  },
  "r15": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Section": "13",
   "Subsection": "a-1"
  },
  "r16": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Regulation S-T",
   "Number": "232",
   "Section": "405"
  },
  "r17": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "405"
  },
  "r18": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "425"
  },
  "r19": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "7A",
   "Section": "B",
   "Subsection": "2"
  }
 }
}